Cable & Wireless is hit hard by Budget July 20, 2010 CABLE & Wireless Worldwide (CWW) has said its trading has been hit hard by the spending squeeze announced in the emergency Budget, sending its shares a staggering 18 per cent lower. About £285m, or 12 per cent of CWW’s revenue, came from UK public sector customers such as the NHS and the Ministry of Justice [...]
Serco wins £415m contract to build a new London prison July 5, 2010 SERCO has signed a contract to run a new London prison, despite concerns that public spending cuts could mean fewer deals for support services firms. Serco, which runs the DLR and detention centres in Australia, said its consortium signed a contract worth £415m with the Ministry of Justice to build and manage a prison at [...]
Swiss pass US banking treaty June 17, 2010 THE Swiss parliament finally backed a treaty yesterday to give the US government details of clients UBS helped dodge taxes, ending nearly a year of uncertainty that threatened the Swiss bank’s recovery. The two houses of parliament agreed not to hold a referendum on the treaty after crisis talks yesterday, so Swiss tax authorities should [...]
Swiss pass US banking treaty June 17, 2010 THE Swiss parliament finally backed a treaty yesterday to give the US government details of clients UBS helped dodge taxes, ending nearly a year of uncertainty that threatened the Swiss bank’s recovery. The two houses of parliament agreed not to hold a referendum on the treaty after crisis talks yesterday, so Swiss tax authorities should [...]
THE TIPSTER May 19, 2010 THE airline that once billed itself as the world’s favourite is set to report fourth quarter results on Friday, but it has hardly been an upbeat few months for British Airways. Although these profit figures will not include the disruption caused by the volcano in Iceland, the carrier has been mired in an industrial dispute [...]
Ministry of Justice to quit London March 24, 2010 DARLING will shift a staggering 15,000 civil servants out of the capital in a massive cost cutting drive. The news will further stoke the fires burning at the heart of the government over pay caps for the public sector workers, set at just one per cent – effectively a pay cut as inflation is double [...]
Magistrates courts hit by closures March 24, 2010 TWENTY Magistrates Courts are due to be closed as part of a cost-cutting programme expected to save the Ministry of Justice (MOJ) £360m. The MOJ detailed plans of the closures yesterday as part of its contribution to an £11bn savings plan introduced by the government. Justice secretary Jack Straw said: “Due to the low utilisation [...]
Police arrest former Anglo Irish Bank chairman in dawn raid fraud probe March 18, 2010 Irish police arrested Sean FitzPatrick yesterday, the former chairman of Anglo Irish Bank, as part of a fraud investigation seen as vital to Ireland’s efforts to win back investor confidence. The government has said it would investigate fully the role of nationalised Anglo Irish and other banks in the collapse that brought a spectacular period [...]
German data grab to tackle tax evasion February 1, 2010 Germany should do everything in its power to obtain data to fight tax evasion, Chancellor Angela Merkel said yesterday after a whistleblower offered to sell German authorities secret Swiss bank data. The informant is understood to have offered data of up to 1,500 possible tax evaders with accounts in Switzerland which could lead to €100m [...]
Swiss yet to deliver UBS client data for US probe January 24, 2010 Switzerland has not yet handed over data on clients of UBS to the US authorities as part of a probe into possible tax evasion among wealthy bank customers, a government spokesman said yesterday. However, the Swiss government does not know how many UBS customers may have handed over their details to the US tax authorities, [...]