UKFI to delay bank stake sale to influence lending October 25, 2010 PRIME Minister David Cameron yesterday indicated that the government will opt to retain its stakes in the banks for a while longer in order to influence their SME (small and medium sized enterprise) lending policies, rather than selling them off as soon as possible to maximise value for the taxpayer. Cameron, speaking at the CBI’s [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 23, 2010 FINANCIAL TIMES CAMERON WOOS NORDIC NATIONS David Cameron is to host a summit with leaders of Nordic and Baltic countries in January, an unusual move which Downing Street billed as an opportunity to exchange ideas on issues such as the green economy, social cohesion and gender equality. Cameron’s spokeswoman insisted the summit was not an [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 23, 2010 FINANCIAL TIMES CAMERON WOOS NORDIC NATIONS David Cameron is to host a summit with leaders of Nordic and Baltic countries in January, an unusual move which Downing Street billed as an opportunity to exchange ideas on issues such as the green economy, social cohesion and gender equality. Cameron’s spokeswoman insisted the summit was not an [...]
Defensive luxury October 24, 2010 DESPITE talk of a flight to quality, received wisdom tells us that consumers should cut back on fripperies in hard times. Yet luxury firms of all hues are doing remarkably well. Take Apple, the tech giant that only sells high-end products: it has continued to post ever-rising profits and revenues throughout the recession, smashing its [...]
Maude in bid to find savings by delivering services online October 18, 2010 FRANCIS Maude, the cabinet office minister, yesterday said the government would cut waste and introduce radical reforms in a bid to protect jobs and frontline public services from swingeing cuts. Maude has drafted in Martha Lane Fox, the government’s digital adviser and founder of travel site lastminute.com, to see if some services can be delivered [...]
Maude in bid to find savings by delivering services online October 18, 2010 FRANCIS Maude, the cabinet office minister, yesterday said the government would cut waste and introduce radical reforms in a bid to protect jobs and frontline public services from swingeing cuts. Maude has drafted in Martha Lane Fox, the government’s digital adviser and founder of travel site lastminute.com, to see if some services can be delivered [...]
GETTING THE PRICE RIGHT IS CRUCIAL November 11, 2010 MD & FOUNDER OF FINE WINE MERCHANT BORDEAUX INDEX AS THE giddy prices achieved at the recent auctions in Hong Kong confirmed, the right price for anything is what someone’s willing to pay for it. With premia to market averaging around 60 per cent on over £10m of widely available stock, it speaks more of [...]
Brit insurance has accepted £888m offer October 26, 2010 BRIT Insurance yesterday accepted a formal offer from private equity firms Apollo Management and CVC Capital Partners, which values Brit at up to £888m. The offer from Apollo and CVC, which have formed a new company called Achilles to make the offer, values the Lloyds of London insurer at £10.75 per share but includes a [...]
NAB sees UK profits double October 27, 2010 THE owner of Clydesdale and Yorkshire Banks announced a rise in full year pre-tax profits of over 50 per cent yesterday after it advanced £4.7bn in mortgages and wrote down fewer bad debts. National Australia Bank (NAB) said lending had been subdued in the year to 30 September but that it was “firmly on track” [...]
Sales leap for Travis Perkins as it warns of looming spending cuts October 11, 2010 Builders’ merchant and DIY retailer Travis Perkins yesterday announced higher sales, but pointed to signs that government spending cuts had begun to bite. Travis, which trades from more than 1,200 branches under Travis Perkins, Keyline, Wickes and other brands, said turnover at branches in its merchanting division open at least a year increased 10.3 per [...]