IMF: Iceland is stabilising as debt crisis eases November 14, 2010 ICELAND’S economy has stabilised further and measures to ensure a restructuring of debt on the crisis-hit island remain vital, the International Monetary Fund (IMF) said yesterday. The top three Icelandic banks collapsed in October 2008 and the country needed a bailout led by the IMF. “Iceland’s post-crisis stabilisation is continuing, supported by a steady implementation [...]
Irish government takes control of Allied Irish December 23, 2010 IRELAND’S government is to pump €3.7bn (£3.14bn) into Allied Irish Banks, setting it on course for nearly 93 per cent ownership of what was once the country’s largest publicly-traded lender. AIB will be required to raise a further €6.1bn of core Tier 1 capital before the end of February to get its capital ratio up [...]
SMALL BUSINESS AND START-UP NEWS January 6, 2011 SMES BURDENED WITH VAT ADMIN TASKS Small and medium sized businesses (SME) spend up to one day a week on financial admin tasks such as VAT returns, monthly accounts and tax issues according to findings from Regus research. This has been exacerbated by the introduction of further employment laws and the three VAT changes that [...]
SMALL BUSINESS AND START-UP NEWS January 6, 2011 SMES BURDENED WITH VAT ADMIN TASKS Small and medium sized businesses (SME) spend up to one day a week on financial admin tasks such as VAT returns, monthly accounts and tax issues according to findings from Regus research. This has been exacerbated by the introduction of further employment laws and the three VAT changes that [...]
FTSE treads water as fears over European debts weigh December 16, 2010 BRITAIN’S top shares closed little changed yesterday as persistent concerns over Europe’s debt problems capped moves on the upside while BP fell after the US government launched a lawsuit over the Gulf oil spill. The FTSE 100 ended down 1.06 points at 5,881.12. The index ebbed away from an intra-day high of 5,907.10, with analysts [...]
The City contributes far more than billions in tax December 19, 2010 NEWS that the financial services industry contributed £53.4bn to the Exchequer in tax during 20090-10 is welcome evidence that the City’s success spreads wealth across the wider economy. This money will help to pay for schools, hospitals and other infrastructure that tangibly benefits individuals across the UK. City businesses continue to make a significant contribution [...]
Job cuts rise as tightening begins to bite December 15, 2010 UNEMPLOYMENT rose in the three months to October as government job cuts took their toll, official data showed yesterday. Unemployment crept up to 7.9 per cent, the highest rate in six months, representing an increase of 35,000 people to 2.5m in total. The news came from the Office for National Statistics (ONS), which also announced [...]
Job cuts rise as tightening begins to bite December 15, 2010 UNEMPLOYMENT rose in the three months to October as government job cuts took their toll, official data showed yesterday. Unemployment crept up to 7.9 per cent, the highest rate in six months, representing an increase of 35,000 people to 2.5m in total. The news came from the Office for National Statistics (ONS), which also announced [...]
Posen claims Mervyn King too political November 25, 2010 THE Bank of England’s most senior policymakers were divided over Mervyn King’s support for the government’s austerity measures. Adam Posen, an external member of the Monetary Policy Committee (MPC), yesterday said the governor’s endorsement of the coalition’s deficit reduction programme was “excessively political”. “A number of people on the committee [thought he was being]… excessively [...]
Posen claims Mervyn King too political November 25, 2010 THE Bank of England’s most senior policymakers were divided over Mervyn King’s support for the government’s austerity measures. Adam Posen, an external member of the Monetary Policy Committee (MPC), yesterday said the governor’s endorsement of the coalition’s deficit reduction programme was “excessively political”. “A number of people on the committee [thought he was being]… excessively [...]