Irish political turmoil feeds market nerves November 24, 2010 MARKETS remain unconvinced that the Irish government will be able to pass the €15bn (£12.6bn) cuts programme it unveiled yesterday, with Prime Minister Brian Cowen lacking the votes needed to get the measures through parliament. Cowen’s government is already teetering, with the Green Party this week demanding an immediate election once the emergency budget is [...]
South African union opposes Wal-Mart deal September 29, 2010 SOUTH Africa’s biggest union is opposing Wal-Mart’s attempt to buy Massmart for over $4bn (£2.5bn). The Western Cape branch of the Congress of South African Trade Unions (Cosatu) called on the government to block the sale of the “key strategic national company”. “We will oppose the setting up of any Walmart stores in the Western Cape. [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 5, 2010 FINANCIAL TIMES IRISH BANKS FACE LOANS SELL OFF Ireland will have to accelerate the shrinking of its troubled banks’ balance sheets in return for gaining continued access to emergency European funding. According to people briefed on the details of Ireland’s €85bn (£72bn) bail-out by the European Union and the International Monetary Fund, the banks will [...]
These cuts should have gone further May 24, 2010 THE build-up to the election saw all of the major parties arguing over when to start cutting public spending. Straight away, some said. This year is too early, we could put the recovery at risk, others replied. What we didn’t hear was how they would cut spending. The new coalition is right to think that [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 28, 2010 FINANCIAL TIMES FOX SAVAGES TREASURY ON DEFENCE CUTS Liam Fox, the defence secretary, has launched a big assault on the Treasury’s attempt to slash his department’s budget, warning that “draconian” cuts to military spending cannot be implemented without “grave consequences” for the Conservative party and the government. In a head-on attack on chancellor George Osborne’s [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 28, 2010 FINANCIAL TIMES FOX SAVAGES TREASURY ON DEFENCE CUTS Liam Fox, the defence secretary, has launched a big assault on the Treasury’s attempt to slash his department’s budget, warning that “draconian” cuts to military spending cannot be implemented without “grave consequences” for the Conservative party and the government. In a head-on attack on chancellor George Osborne’s [...]
BA strike looms as negotiations crash March 10, 2010 STRIKE talks between British Airways (BA) and Unite have fallen apart after the airline rejected a package of proposals from the union. BA said the proposed 2.6 per cent staff pay cut, which Unite estimated would have saved BA £60m, “fell significantly short” of the £62.m savings they needed. As a result of the failed [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 17, 2010 FINANCIAL TIMES UGANDA TAX ROW DELAYS HERITAGE SALE OF OIL FIELD Uganda is insisting that Heritage Oil, the UK-listed oil explorer, must agree to pay $360m (£243m) in capital gains tax on the “super profits” it will make on a $1.35bn oilfields sale before it will sanction the deal. Uganda’s energy minister said the government [...]
Tories vow an end to UK’s health and safety culture December 1, 2009 CONSERVATIVE leader David Cameron yesterday promised to reform Britain’s “over-the-top” health and safety culture, saying it had become a straitjacket on personal initiative and responsibility. A Tory government would bring back “common sense, discretion and personal responsibility,” he told the Policy Exchange think-tank. The Trades Union Congress accused Cameron of distortion and urged politicians not [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 10, 2010 FINANCIAL TIMES CHINA EXPORT SURGE STIRS US ANGER A surge in Chinese exports and rising anger in the US Congress will put renewed pressure on China to allow its currency to rise against the US dollar. Chinese trade figures showed exports leaping by 48.5 per cent in May over the year before, way ahead of [...]