Grandeur can shake up Mukhadram in York feature July 25, 2013 ONLY six runners have been declared for tomorrow’s Sky Bet York Stakes (2.55pm) and Mukhadram is as short as 1/2 with one bookmaker to justify Paul Hanagan’s decision to abandon Ektihaam in the King George at Ascot. The market leader reappeared this season with a win in the Brigadier Gerard Stakes at Sandown and was [...]
Facebook defies critics as results smash expectations July 24, 2013 FACEBOOK last night dispelled fears that it is struggling to make the transition from desktop to smartphone, as its results smashed expectations thanks to strong demand for mobile advertising. Shares in the social network jumped more than 20 per cent to a year high in after-hours trading as revenue hit $1.8bn (£1.17bn) in the second [...]
It’s Prince George July 24, 2013 THE DUKE and Duchess of Cambridge last night announced that their newborn son will be named George Alexander Louis – to be known as His Royal Highness Prince George of Cambridge. The last George on the throne was the current Queen’s father, George VI, who was known as Bertie. Prince George will one day become [...]
Struggling Europe shows signs of recovery at last July 24, 2013 A RECOVERY could be in sight for parts of the Eurozone economy, as influential survey data yesterday showed growth in manufacturing output. Figures from Markit also showed growth in the US, but falling output in China as the world’s second largest economy looks increasingly fragile. The Eurozone’s purchasing managers’ index (PMI) came in at 50.4 [...]
We must urgently improve the quality of our economic growth July 24, 2013 BARRING an astonishing shock, today’s second quarter UK GDP figures will be good. But while economic activity is now clearly increasing again, I’m deeply worried about the quality of the growth and its sustainability when monetary policy is eventually tightened. Ever since the Keynesian revolution, the City and government have been far too obsessed with aggregate, [...]
What the other papers say this morning – 25 July 2013 July 24, 2013 FINANCIAL TIMES Osborne accused of bowing to City The UK chancellor was yesterday accused of bowing to City pressure and watering down key provisions to make Britain’s banks safer, as the Banking Reform bill began its passage through the House of Lords. Lord Lawson, the Tory former chancellor, said the Treasury was guilty of an [...]
Network Rail chief executive eyes departure July 24, 2013 NETWORK Rail boss Sir David Higgins looks set to leave the company next year, to coincide with the group’s five-year funding cycle. Sir David, who has been in the post since February 2011, has flagged up his looming departure within the firm to allow for a thorough search for his replacement, a company source said. [...]
Barclays ready for deal to plug balance sheet July 24, 2013 BARCLAYS is close to announcing an agreement with regulators to strengthen its balance sheet in order to meet new industry standards. Last month the Bank of England’s prudential regulatory authority (PRA) published a review of lenders’ capital positions and found Barclays did not meet the required three per cent leverage ratio by 0.5 percentage points. [...]
Dell demands rule change to keep £15.6bn takeover alive July 24, 2013 MICHAEL Dell yesterday made a last-ditch bid to win control of the computer manufacturer that bears his name, as he attempts to bring a six-month takeover saga to a close. Dell’s decision to up his existing $24.4bn (£15.6bn) offer by $150m – in return for changing vote rules to make it more likely to succeed – [...]
Witty admits Glaxo errors in China and says probe will hit business July 24, 2013 GLAXOSMITHKLINE’S business will inevitably be impacted by the Chinese bribery allegations, chief executive Sir Andrew Witty said yesterday, as he admitted the drugmaker’s internal controls had failed to pick up on problems. Speaking at the FTSE 100-listed firm’s second-quarter results presentation, Witty said Glaxo plans to commission an independent review into the “shameful allegations”, adding that [...]
