Tory MP calls for tough new law on strikes April 26, 2011 A CONSERVATIVE MP yesterday proposed new legislation that would ban strikes by transport and emergency workers unless 50 per cent of unionised employees vote in favour of industrial action. Dominic Raab, MP for Esher & Walton, used the 10-minute rule procedure in the House of Commons to call for a change in the current law, [...]
Redknapp believes in miracles as Spurs aim to put Bernabeu misery behind them April 12, 2011 TOTTENHAM 0 vs REAL MADRID 4 TOTTENHAM manager Harry Rekdnapp insists his side are capable of producing what would represent the greatest European comeback of all time against Real Madrid tonight. The nine-times winners cantered to an emphatic 4-0 victory over 10-man Spurs at the Bernabeu last week, and never before has such a first [...]
Why a £4bn share buyback is uninspiring April 4, 2011 IF Steve Jobs were to announce plans to return Apple’s £50bn cash pile in a share buyback tomorrow, there would be an almighty outcry among some investors. If, as many believe, Apple has the Midas touch then shareholders would be better served by more investment and acquisitions. It all boils down to one question: who [...]
Forget the Champs-Élysées: British consumers have lost their joie de vivre April 3, 2011 THERE was much fanfare last week when Marks and Spencer returned to the Champs-Élysées in Paris. But even if the French flock to the British retailer in droves, which seems somewhat improbable to us, their joie de vivre isn’t being shared by domestic customers. Like-for-like sales in the fourth quarter are expected to be off by [...]
Sarin’s big gamble has yet to pay off March 31, 2011 WHEN Vodafone bought a controlling stake in Hutchison Essar for $10.9bn in 2007, it was seen as the deal that would come to define the rein of chief executive Arun Sarin. Sarin, who was born in India, made an expensive bet on that country’s telecoms market; the deal implied an $18.8bn enterprise value for the [...]
Decision to diversify has already paid off March 29, 2011 WHEN Man Group announced its intention to snap up GLG back in May 2010, it was nothing less than a very public act of renunciation. It was essentially saying that there was more to fund management than quant funds, which use computer algorithms to make investment decisions. Diversification was the future, Peter Clarke told shareholders [...]
Wake up and smell the instant coffee March 24, 2011 CHRISTMAS?2010 will be remembered as Britain’s last big spending splurge. What better way to end almost two decades of unsustainable, debt-fuelled largesse than with a massive turkey dinner and tonnes of presents? Supermarkets could barely believe it as families spent more than ever before on rich food and booze; John Lewis notched up record sales. [...]
Rising deficit hits Osborne’s budget plans March 22, 2011 GOVERNMENT borrowing reached £11.8bn in February — a record high for this time of year – according to official figures released yesterday. Net borrowing, excluding interventions in the financial sector, was considerably higher than in February 2010, when the government recorded a £9.45bn monthly deficit. The figures cast doubt over the amount of leeway chancellor [...]
Expectations of inflation at 2.5 year high March 17, 2011 INFLATION expectations have risen to their highest level since August 2008, increasing the likelihood that price pressures are seeping through into second round effects. Britons expect inflation of four per cent over the coming year, according to the latest Bank of England survey released yesterday. Expectations rose from the 3.9 per cent level, recorded in [...]
Partygaming moves closer to Bwin merger March 15, 2011 ONLINE gaming company PartyGaming has moved closer to its agreed merger with Austrian rival Bwin, confirming that the tie-up is planned to complete on 31 March. The merger was formally entered into the Vienna companies’ register yesterday, in a filing by Bwin. The Austrian company’s shares will cease trading on 25 March in anticipation of [...]