BP June 7, 2010 MAKE no mistake: there is no light at the end of the funnel yet. BP might have managed to siphon off half the leaking oil, but its costs – currently at $1.25bn – will continue to accumulate at a similar rate until August, when the relief well is completed. Only then will it become clear [...]
Osborne: no more fiddled forecasts May 17, 2010 GEORGE Osborne yesterday set out on the path towards the deepest spending cuts in over a generation, announcing immediate action to cut the deficit followed by an emergency Budget in six weeks time. Next Monday, the chancellor will provide details on how he intends to cut £6bn of spending this year; he will then deliver [...]
No men in tights: Russell Crowe shows the gritty side of a legend May 13, 2010 Film ROBIN HOOD Cert: 12A *** ROBIN HOOD is the fourth collaboration between Russell Crowe and director Ridley Scott, and comes a decade after their first outing, the majestic Ancient Rome saga Gladiator. It shares that film’s muscular swordplay, gritty historical vision and interest in ancient politics, but lacks its pile-driving sense of excitement. Whether [...]
Runners and riders line up May 10, 2010 David Crow examines those in line to succeed Gordon Brown as leader of the Labour party GORDON BROWN’S resignation will lead to an almighty battle for Labour’s soul. Those on the centre of the party will be looking for an heir to Tony Blair, the election-winning machine that kept them in power for 13 years. Brown’s backers [...]
The man who could be chancellor plans radical changes for the City May 3, 2010 Allister Heath and David Crow pay a visit to Vince Cable ahead of the last week of the election campaign FEW politicians have emerged from the financial crisis with their reputation intact. Vince Cable must be the only one who has actually enhanced his, with his brand of left-wing policies playing perfectly to the shifting [...]
Don’t forget about Spain April 29, 2010 IT SEEMS too good to be true. Spain has suffered one of the worst housing downturns in the world, yet its biggest bank is booming. Santander has its Latin American operations to thank for that, in particular its Brazilian bank. Cherry-picking the best bits of Britain’s mortgage books during the depths of the financial crisis hasn’t [...]
Prudential prepares final charm offensive as deal D-day looms April 28, 2010 TIDJANE Thiam must be trying hard to shut out the noise. As Prudential’s chief executive hunkers down to work on the prospectus for the insurer’s gargantuan $21bn (£13.8bn) cash call, grumblings from shareholders continue to fuel rumours of a break-up bid that would see the firm snatched from the brink of a historic deal and [...]
Clear-up overshadows clean-up April 27, 2010 THE BIG clear-up that will have to take place in the Gulf of Mexico is overshadowing the fact that BP cleaned up in the first quarter. It is not only higher crude prices that have bolstered profits. The oil major reduced administrative costs by 24 per cent quarter-on-quarter and by 10 per cent on the same period [...]
Redrow on way to profit April 26, 2010 HOUSEBUILDER Redrow expects to return to profitability in the second half of 2010 as market conditions continue to improve. The FTSE 250 group says it has been “encouraged” by sales activity since the start of the calendar year. It is likely to legally complete more than 2,500 homes this year with sales rates per outlet [...]
Barclays April 25, 2010 AS oxymorons go, “good credit crisis” is right up there with “classy strip club” and “luxury studio flat”. But compared to rivals, Barclays has emerged from the near meltdown of the financial sector in fine fettle. Over the last seven years, top line income has grown by a compound annual growth rate of 18 per [...]