CBI: Treasury needs to save extra 120bn October 18, 2009 THE Treasury’s plans to balance the deficit by 2017-18 are not urgent enough and do not have the necessary credibility to underpin the government’s management of the public finances, the Confederation of British Industry will say today. In a letter to chancellor Alistair Darling, CBI director-general Richard Lambert urges the Treasury to return to the [...]
High street shows continuing signs of growth with positive outlook for Easter March 23, 2010 THE UK high street has been unable to sustain its strong February sales growth this month, but the Confederation of British Industry’s (CBI) monthly distributive trades survey showed UK retailers still experienced an increase in sales volumes. Encouragingly, the CBI also said that retailers are expecting a similar pace of growth over the Easter period. [...]
UK factory growth hits a 16-year high May 4, 2010 ACTIVITY in Britain’s hard-hit manufacturing sector grew at its fastest rate last month since September 1994 thanks to a sharp increase in the growth rate of new exports, a leading survey showed yesterday. The Markit/CIPS manufacturing purchasing managers’ index (PMI) showed that factory activity rose to 58 in April from 57.3, well above the 50 [...]
CBI: Manufacturing firms see an export-led recovery in output October 21, 2009 FOLLOWING months of gloom, prospects for the manufacturing sector appear to be looking brighter and the decline in output has eased considerably, the Confederation for Business Industry (CBI) said yesterday. The latest quarterly Industrial Trends survey showed that sterling weakness is helping firms’ competitiveness on the global stage. Manufacturers’ sentiment about export prospects rose to [...]
Morrisons man’s £6.1m welcome April 7, 2010 Wm Morrison, the supermarket chain, will give incoming chief executive Dalton Philips a “golden hello” worth £6.1m. Philips, who joined from Canadian retailer Loblaw at the end of last month, has been handed a £2.2m target-linked share incentive plan along with £950,000 to compensate him for awards he would have received in his last job, [...]
Cut debt, but not yet: CBI September 27, 2009 THE Confederation of British Industry (CBI) will today call for a faster, more aggressive approach to solving Britain’s public debt crisis as it sets out its business recommendations for a new government ahead of next year’s election. CBI deputy director-general John Cridland said the emphasis should be on balancing the government’s books by 2015/16, two [...]
Osborne unveils company tax cut May 20, 2010 POLITICAL EDITOR GEORGE Osborne yesterday said he would lower the headline rate of corporation tax, but bowed to pressure from his Liberal Democrat coalition partners and promised to protect manufacturing allowances. In his first major speech as chancellor, Osborne said he would use an emergency Budget on 22 June to kick-start a five-year plan to [...]
Mining chief’s £27m package fuels row over executive pay April 11, 2010 XSTRATA chief executive Mick Davis banked a total pay of £27m last year, according to the company’s annual report. News of the bumper pay deal will inflame the simmering debate over bumper executive remuneration packages. While the FTSE 100 mining company boss’s basic pay and bonus for 2009 came to £4.9m, his earnings were massively [...]
Banking firms see improved profitability March 28, 2010 ACTIVITY in the financial services sector stagnated in the first three months of the year but companies experienced improved profitability for the third successive quarter, according to a new survey published today by the Confederation for British Industry (CBI) and accountants Pricewaterhouse Coopers (PwC). The quarterly report of Britain’s financial services industry also reveals that [...]
Lib Dem plans fail to impress businesses April 14, 2010 BUSINESS rounded on the Liberal Democrat manifesto yesterday, although economists praised the party for providing more detail on tax and spending than either of the two main parties. John Cridland, the deputy director-general of the CBI, said it was vital that all parties “established a clear and robust plan to rebuild the public finances” and [...]