Business News
Boss of state-owned Lloyds gets £2m bonus – six weeks before he quits
James Moore: Controversy intensifies as Eric Daniels appears likely to receive £2m bonus before he leaves taxpayer-backed bank on 1 March.
Inside Business News
Gartmore boss to depart with £5m pay-off after rescue deal
Thursday, 13 January 2011
The spectre of rewards for failure returned to haunt the City yesterday as it emerged that Gartmore chief executive Jeffrey Meyer will depart from the company with a £5m pay-off after its rescue by rival Henderson for £335m – £465m less than the company was worth when it floated on the London Stock Exchange.
Amazon to create 950 jobs new
Thursday, 13 January 2011
Online retailer Amazon is to create almost 1,000 jobs at a new flagship distribution site in Scotland.
Bank holds rates at record low new
Thursday, 13 January 2011
The Bank of England left interest rates at their record low today despite fears over surging inflation and commodity prices.
Tesco blames bad weather for flat sales
Thursday, 13 January 2011
Supermarket giant Tesco today said severe winter weather hindered its Christmas trading performance as it posted modest 0.6% like-for-like sales growth.
World 'unable to handle any future shocks'
Thursday, 13 January 2011
The ability of governments to respond to future shocks is at "critically low levels" after the battering of the credit crisis, according to a report from the World Economic Forum (WEF), the organiser of the Davos summit of political and business leaders. Its annual risk assessment gives warning that the unprecedented peacetime debts racked up by governments as they fought to restore growth have left the global economy in a precarious position.
Relief as Lisbon's bonds attract strong demand
Thursday, 13 January 2011
Europe avoided an escalation in its sovereign debt woes last night after the year's first bond sale by one of the Continent's most indebted economies was judged a success.
'British Madoff' took £14m from his investors – and lost the lot
Thursday, 13 January 2011
To his clients, Terry Freeman had all the trappings of a multi-millionaire City trader with a reputation for risk-free currency investments. Along with holiday homes in Cyprus and France, his wealth had bought him a top-of-the-range Land Rover, an executive box at Tottenham Hotspur and a £120,000 ring for his third wife.
Britain's trade deficit hits another record high
Thursday, 13 January 2011
Britain's goods trade deficit hit a new high in November, undermining hopes that a rebalancing of the economy towards manufacturing and exports generally has begun to have fundamental effects.
Sainsbury's toasts festive sales spurt
Thursday, 13 January 2011
Sainsbury emerged as the festive winner among the supermarkets, reporting a 3.6 per cent rise in same-store sales for its third quarter, excluding fuel – comfortably ahead of City forecasts of about 3 per cent.
Uniq still in talks over £436m pensions deficit
Thursday, 13 January 2011
Uniq, the chilled foods specialist battling to plug a £436m pension deficit, said talks were continuing over a restructuring of its retirement scheme, as it reported that Christmas trading was close to expectations yesterday.
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• Steve Richards: The banks debate has a 1970s parallel
The small state free-marketeers sense something is wrong with the greed of bankers but they do not want to act
• Andreas Whittam Smith: Arrogant, patronising and rude. Remind you of anyone?
The French get off to an excellent start so far as manners is concerned
• Adrian Hamilton: Hobbling on in Europe is the best we can manage
On Tuesday the Government got its EU Bill through the Commons
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