Private sector boom for jobs June 15, 2011 OVER half a million new jobs were created by the private sector in the 12 months to March, official data revealed yesterday. Employment in the commercial sector rose to over 23m, growing by 520,000 since March 2010. The rise more than offset the 143,000 government sector positions shed over the same period. Over 6.1m people [...]
Papandreou pleads for Greek unity June 19, 2011 GREEK Prime Minister George Papandreou was last night battling to hold the country together as political fighting and civil unrest threaten to tear it apart. He pleaded with the Greek parliament to back his government’s plans to tackle the gaping hole in the country’s finances. Opposition to Papandreou’s Socialist party, as well as rebellious internal [...]
Papandreou pleads for Greek unity June 19, 2011 GREEK Prime Minister George Papandreou was last night battling to hold the country together as political fighting and civil unrest threaten to tear it apart. He pleaded with the Greek parliament to back his government’s plans to tackle the gaping hole in the country’s finances. Opposition to Papandreou’s Socialist party, as well as rebellious internal [...]
Mouchel says trading will remain tough June 15, 2011 TROUBLED support services firm Mouchel has said it faces “very challenging” trading conditions over the coming year. The firm said government cuts and cost cutting measures had slashed its clients’ budgets and could further impact on its financial performance. It also said a protracted offer period for the company, which included repeated bids from peers [...]
Greek government reshuffles to push austerity plan June 16, 2011 Greek Prime Minister George Papandreou is planning to form a new cabinet and seek a vote of confidence from his fractious Socialist party to try to push through an austerity package and avoid default. Papandreou must pass the new 5-year campaign of tax rises, spending cuts and sell-offs of state property to receive a new [...]
Sarkozy and Merkel announce plans for closer EU integration August 16, 2011 THE story of the crumbling Eurozone took a new twist yesterday with a joint press conference given by German chancellor Angela Merkel and French president Nicolas Sarkozy. This followed an afternoon of meetings between the two premiers, as they discussed ways to shore up the euro. The plight affecting the euro has largely been centered [...]
Vickers: ICB plans will cut state subsidy May 24, 2011 BANKS will see their implicit subsidy from the state significantly cut down if the government implements recommendations from the Independent Commission on Banking (ICB), its chair John Vickers (pictured) said yesterday. “Our measures would have a major effect on reducing the subsidy,” Vickers said when speaking before the Treasury Select Committee yesterday. His views appeared [...]
EU ministers set to back shortselling curb May 11, 2011 European Union finance ministers look set to back a ban on naked or uncovered selling of sovereign debt and shares when they meet next week, diplomats have said. The draft measure will also need approval from the European Parliament to become law and joint talks are expected to be tough as the assembly wants more [...]
Balls calls for a temporary VAT reduction June 16, 2011 ED Balls, the shadow chancellor, yesterday called for an emergency VAT cut to boost the economy. In a lecture at the London School of Economics, Balls urged chancellor George Osborne to “reverse VAT temporarily until the economy is growing strongly again”. He said: “When the last Labour government temporarily cut VAT to 15 per cent [...]
Greece pushed to sell assets May 24, 2011 GREECE could be forced to sell up to €50bn (£44bn) in state-owned assets by European officials, as the nation tries to mend its battered finances. European leaders want to push for measures to ensure the Greek government completes its promised €50bn privatisation drive, but believe a state asset sale programme could ultimately net it between [...]