MEPs want a Tobin tax March 10, 2010 MEMBERS of the European Parliament have taken the extraordinary step of voting in favour of a Tobin tax on financial transactions. The resolution was passed by 536 to 80 votes yesterday and the European Commission will now investigate a levy. A financial transaction tax at the European level is still a long way down the [...]
Oil spillage will add to pressure on fuel prices May 3, 2010 THE oil giant BP’s share price was punished by the markets last week after a fire at its Deepwater Horizon drilling rig on the Gulf of Mexico caused a leak that is pumping 5,000 barrels of oil per day into the sea. But on Friday, BP’s woes transformed into an industry-wide problem after the US [...]
Next expects online sales to drive growth September 15, 2010 NEXT yesterday reported a 15 per cent rise in first half pre-tax profit and pinned its hopes on internet sales to fuel expansion. The retailer said the tough consumer climate, weakened by a looming VAT hike and job cuts in public services would mean at least three to five years of low sales growth. Next [...]
Next expects online sales to drive growth September 15, 2010 NEXT yesterday reported a 15 per cent rise in first half pre-tax profit and pinned its hopes on internet sales to fuel expansion. The retailer said the tough consumer climate, weakened by a looming VAT hike and job cuts in public services would mean at least three to five years of low sales growth. Next [...]
CITY MOVES | WHO’S SWITCHING JOBS April 14, 2010 FSSC The Financial Services Skills Council has appointed Trevor Matthews, the chief executive of Friends Provident, as its new chairman. Matthews joins a number of high-profile City bosses on the FSSC board, including Resolution Group chief executive John Tiner, Standard Life managing director John Gill, KPMG vice chairman Brendan Nelson, and Angela Knight, the chief [...]
Copenhagen’s lack of detail is a blow for low- carbon business February 23, 2010 JUST over two months since the final all-night negotiations which went into finalising the Copenhagen Accord, viewpoints on the outcome of the Copenhagen climate change conference (COP15) have been extremely mixed. On the positive side, the Copenhagen Accord has been described as an “important political tool”, “vital first step”, or in the words of President [...]
Darkening jobs outlook won’t hit recruitment firms equally October 10, 2010 DARK clouds have been gathering on the employment horizon for some time and the outlook for the UK jobs market has been getting steadily gloomier. Last week, a survey conducted by the Recruitment and Employment Confederation (REC) and KPMG warned of a double-dip in the jobs market and said employment had flatlined. This week, official [...]
CITY VIEWS: ARE YOU WORRIED THAT THE BANK GOT ITS FORECASTS SO BADLY WRONG? August 11, 2010 MATTHEW KING | LLOYD’S BROKER “I think it would be much worse if the situation changed and the Bank carried on being bullish regardless ?– it’s much better that it is prepared to revise these estimates. Also, they are just forecasts, the Bank does not say this is what will definitely happen.” JAMES COLERIDGE | [...]
Green group SLR buys Oz rival February 22, 2010 Environmental consultancy firm SLR has acquired its Australian rival Heggies in a £12m deal, it emerged at the weekend. The group, which is owned by private equity company 3i, is understood to be looking at a string of possible acquisitions. Both firms advise companies on energy efficiency and ways in which they can cut their [...]
Obama in nuclear loan deal February 15, 2010 President Barack Obama will announce an $8.3bn (£5.3m) loan guarantee next week for Southern Co to build and operate the first new US nuclear power plant in nearly three decades, an administration official said on Friday. The financial backing, meant to show Obama’s commitment to nuclear energy as he fights to pass a climate change [...]