Buckle up for profit warnings, E&Y says July 11, 2010 COMPANIES are in for a “rough ride” next year as the coalition government’s austerity measures begin to suck life from the private sector, accountant Ernst & Young (E&Y) has cautioned. Investors can expect to see a resurgence in bad news from British corporates, E&Y said, after the previous government’s fiscal splurge helped bring profit warnings [...]
Banks implore Osborne to rethink balance sheet tax June 20, 2010 SENIOR members of the banking community yesterday implored chancellor George Osborne to reconsider plans to introduce a sweeping tax on bank balance sheets, arguing that a simple levy on profits would be a fairer and more transparent option. Osborne is set to outline details of the levy in tomorrow’s emergency Budget and is widely expected [...]
US economic growth slows July 30, 2010 US economic growth slowed in the second quarter as a capital investment drive by businesses saw imports increasing at their fastest pace since the first quarter of 1984, a government report showed. Gross domestic product expanded at a 2.4 per cent annual rate, the Commerce Department said in its first estimate, after a revised 3.7 [...]
Eurozone sees weak growth June 23, 2010 CONCERNS over a faltering Eurozone recovery were stoked yesterday when forward-looking surveys pointed towards slower economic growth in the second half of the year. The flash composite purchasing managers’ index (PMI) for the region, a closely-watched weathervane for wealth-creating activity, fell from 56.4 in May to 56 in June, its lowest level for three months. [...]
Osborne walks a tightrope June 21, 2010 THE coalition government will have to perform a delicate balancing act when the Budget is delivered today if it is to avoid a rebellion on the Tory or Liberal Democrat backbenches. Yesterday, sources close to Deputy Prime Minister Nick Clegg insisted the Budget would adhere to the party’s belief in “fairer taxation”, a pledge that [...]
Osborne walks a tightrope June 21, 2010 THE coalition government will have to perform a delicate balancing act when the Budget is delivered today if it is to avoid a rebellion on the Tory or Liberal Democrat backbenches. Yesterday, sources close to Deputy Prime Minister Nick Clegg insisted the Budget would adhere to the party’s belief in “fairer taxation”, a pledge that [...]
UK manufacturing growth slows August 2, 2010 GROWTH in Britain’s manufacturing sector eased slightly in July, with euro zone wobbles weighing on exports, but the figure still beat forecasts and remained indicative of buoyant growth in the sector. There was also a sharp slowing in both input and output price inflation, something that should help reassure Bank of England policymakers that inflation [...]
The Co-op boss who is on a mission to rejuvenate an iconic organisation September 19, 2010 IT IS EASY to see why Co-operative Group chief executive Peter Marks is so excited about the new £180m head office that will open on a 20-acre site in the centre of Manchester in 2012. The current 1960s 13-storey building across the road seems to be made almost entirely of linoleum and plywood. I have [...]
E&Y demands more support for midcaps July 4, 2010 MEDIUM-SIZED companies could be major drivers of the UK economy but some are being hampered by the political and regulatory environment, according to a report published today by Ernst & Young. The report says many midcaps are caught between focus on big business and support for small businesses. Research conducted by YouGov for the report [...]
E&Y demands more support for midcaps July 4, 2010 MEDIUM-SIZED companies could be major drivers of the UK economy but some are being hampered by the political and regulatory environment, according to a report published today by Ernst & Young. The report says many midcaps are caught between focus on big business and support for small businesses. Research conducted by YouGov for the report [...]