Cameron promises to trigger new growth October 25, 2010 David Cameron has promised to invest to ensure the UK’s future economic growth, with an emphasis on entrepreneurs. The Prime Minister told the CBI conference £30bn would be invested in transport projects over the next four years as part of a package to keep the UK recovery on track. He said: “This is an incredible [...]
What the other papers say this morning January 9, 2011 FINANCIAL TIMES GOLDMAN TEAM RAISES MONEY FOR NEW FUND The last big proprietary trading team at Goldman Sachs has begun raising money to start a new hedge fund independent of the bank, for launch in the second quarter of this year. The team – led by two senior members of Goldman Sachs’ Principal Strategies desk, [...]
We’ve had the cuts – now it’s time for growth October 24, 2010 So we’ve had the cuts, now it’s time for the growth. That’s the message at today’s annual CBI conference and it’s the right one. George Osborne may have hinted at some pact with the Bank of England whereby more QE offsets the government’s austerity drive, but what we really need is a supply side transformation. [...]
CBI: Labour pension scheme flawed April 18, 2010 THE Government’s new workplace pension scheme could deter millions of savers because of its high and complicated charges, the CBI warns today. Businesses are worried that staff, and particularly the lower paid, will baulk at the proposed charging structure of the National Employment Savings Trust (Nest), which loads fees towards the earlier years after a [...]
Barclays warns of consolidation October 25, 2010 BARCLAYS president Bob Diamond yesterday predicted that the avalanche of new financial regulation will spark a wave of consolidation across the banking sector, as struggling banks are swallowed up by more successful rivals. Diamond, answering questions from delegates at the CBI’s annual conference, said that higher capital requirements in particular would mean that banks will [...]
Trade envoys named as Cable signs pigs deal November 9, 2010 DAVID Cameron has named a raft of new business ambassadors to be responsible for promoting British trade interests abroad. The positions are not paid but give the envoys the chance to strike profitable deals for the UK abroad. The ambassadors include the CBI’s outgoing chief Richard Lambert, fomer governor of Hong Kong Chris Patten, Brunswick’s [...]
Firms up in arms at £2bn tax raid December 6, 2010 THE government yesterday announced a clampdown on tax avoidance which it said would raise £2bn, drawing fierce criticism from business groups. David Gauke, the Treasury minister in charge of taxation, announced a raft of measures, including two that will come into force with immediate effect. He said the changes would raise £2bn by the end [...]
Labour: Britain biased against manufacturing October 25, 2010 ED MILIBAND yesterday said that Britain’s political classes suffered from an “anti-manufacturing bias” and called for a return to industrial interventionism to recalibrate the economy. Making his first speech to the CBI since becoming Labour’s new leader, Miliband said: “Despite all the talent in engineering and work in our universities, I fear Britain still suffers [...]
Cameron unveils plans for British Silicon Valley November 3, 2010 DAVID Cameron will today unveil plans to turn the East End of London into a “British Silicon Valley”. He will announce that Google, Facebook, Intel and McKinsey have committed to investing in the area, building on the budding hi-tech community that has sprung up in Old Street and Shoreditch. The Prime Minister will say: “Right [...]
City sees lift in financial services poll September 26, 2010 THE financial services sector grew at faster rate in the past three months than any time since June 2007 – but the increasing burden of regulation is hitting businesses hard, a CBI-led report warned today. A poll carried out by the CBI in tandem with professional services firm PwC revealed an increasingly upbeat City with [...]