EX-MPC MEMBER JOINS CREDIT SUISSE September 30, 2010 FORMER Bank of England Monetary Policy Committee member Kate Barker has joined Credit Suisse as a senior adviser. Barker, who spent nine years on the MPC, was formerly a chief economic adviser at the CBI. Sir Alan Budd, who stepped down from Credit Suisse in May to spend a fleeting stint as the first chairman [...]
A SOBERING WARNING FOR OSBORNE AS CAM SWINGS INTO ACTION October 25, 2010 CHAOS as the great and the good gathered for the annual CBI conference on Park Lane yesterday. The delayed start gave David Cameron a chance to prove he’s been reading those zeitgeist briefings: “Sorry for the delay,” he told the gathered business chiefs and hacks. “Like Ann Widdecombe, I had to be hitched by a [...]
Public sector pensions need overhaul: CBI April 5, 2010 PUBLIC sector pensions need a complete overhaul to create a more affordable retirement system for government workers and to contain a trillion pound burden on the taxpayer, the Confederation for British Industry (CBI) argues in a new report published today. Research from the business lobby showed that because these pensions include an unpredictable guarantee from [...]
Santander: UK is competitive October 25, 2010 SANTANDER’S UK chief executive António Horta-Osório yesterday defended the competitive nature of Britain’s retail banking market, even as his peers warned that regulation may lead to a wave of consolidation in the market. Horta-Osório told the CBI conference that UK retail banking is currently “highly competitive and presents low barriers to entry”, positioning himself at [...]
CBI: recovery will be slow and sluggish March 21, 2010 THE UK economy will not recover to pre-recession growth levels even by the end of next year due to dire high street trading and the end of stimulus schemes, the CBI has warned. The employers’ group said GDP would grow by one per cent this year and by 2.5 per cent in 2011. Nervousness among [...]
Cable ups the heat on banks October 17, 2010 BRITAIN’S biggest banks are today set to face up to small business organisations and business secretary Vince Cable in an attempt to show that they are committed to rebuilding trust between the sector and smaller firms struggling to get access to credit. Cable will chair the first meeting of the Small Business Economic Forum, which [...]
UK economy grows for fourth consecutive quarter November 24, 2010 RESILIENT economic growth continues to be recorded in the UK, according to today’s official figures. The economy grew by 0.8 per cent in the three months to September, the Office for National Statistics (ONS) confirmed. And GDP was up 2.8 per cent compared to the same time last year. The figures mark a calendar year [...]
FTSE opens higher ahead of key data October 25, 2010 The FTSE 100 rose on opening this morning with heavyweight miners likely to be buoyed by a softer dollar after the Group of 20 major economies agreed to avoid competitive currency devaluations. The blue chip index looks set to gain 43 to 48 points, or as much as 0.8 percent, according to financial bookmakers, after [...]
FTSE opens higher ahead of key data October 25, 2010 The FTSE 100 rose on opening this morning with heavyweight miners likely to be buoyed by a softer dollar after the Group of 20 major economies agreed to avoid competitive currency devaluations. The blue chip index looks set to gain 43 to 48 points, or as much as 0.8 percent, according to financial bookmakers, after [...]
WHAT DO YOU MAKE OF LORD HUTTON’S RECOMMENDATIONS October 7, 2010 JOHN CRIDLAND | CBI He is clear that traditional final salary defined benefit schemes are not a viable way forward. Everybody needs to understand the true scale of pension liabilities. Every year there is a £10bn gap between what public sector employees and employers contribute and the value of the benefits that the state promises [...]