Daily Finance UK http://www.dailyfinance.co.uk Daily Finance UK http://www.blogsmithmedia.com/http://www.dailyfinance.co.uk/media/feedlogo.gif Daily Finance UK http://www.dailyfinance.co.uk en-us Copyright 2010 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/AAA downgrade risk increases for UKhttp://www.dailyfinance.co.uk/2010/03/10/aaa-downgrade-risk-increases-for-uk/http://www.dailyfinance.co.uk/2010/03/10/aaa-downgrade-risk-increases-for-uk/http://www.dailyfinance.co.uk/2010/03/10/aaa-downgrade-risk-increases-for-uk/#commentsFiled under: , , ,

Graphs showing houses and pound signsThe Brown government needs to be clearer about its planned austerity measures. If it can't, then a downgrade of its AAA credit rating looms.

That's the view of Fitch Ratings. Fitch says that though plenty of other EU countries are getting their debt priorities in ordier, the UK is lagging.

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AAA downgrade risk increases for UK originally appeared on Daily Finance UK on Wed, 10 Mar 2010 07:04:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayWed, 10 Mar 2010 07:04:00 ESTRock losses narrow but bonuses are backhttp://www.dailyfinance.co.uk/2010/03/10/northern-rock-splashes-out-with-new-bonuses/http://www.dailyfinance.co.uk/2010/03/10/northern-rock-splashes-out-with-new-bonuses/http://www.dailyfinance.co.uk/2010/03/10/northern-rock-splashes-out-with-new-bonuses/#commentsFiled under: , , , ,

Northern Rock logoWhen you've made a £257m loss is it right to splash out on bonuses? For some, that would be an easy question to answer.

Not for Gary Hoffman though, boss of Northern Rock. He's defending the decision to pay out bonuses because he claims Northern Rock is now £500m ahead of government targets put in place to turn the bank around.

Continue reading Rock losses narrow but bonuses are back

Rock losses narrow but bonuses are back originally appeared on Daily Finance UK on Wed, 10 Mar 2010 05:21:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayWed, 10 Mar 2010 05:21:00 ESTPick of the early market newshttp://www.dailyfinance.co.uk/2010/03/10/pick-of-the-early-market-news/http://www.dailyfinance.co.uk/2010/03/10/pick-of-the-early-market-news/http://www.dailyfinance.co.uk/2010/03/10/pick-of-the-early-market-news/#commentsFiled under: , ,

FTSE 100 graphOil players have had a volatile year - and explorer Tullow Oil hasn't managed to escape the difficult trading environment. The FTSE-100 oil player has endured a massive profits whack - down 93% on last year.

Tullow Oil's full year results reveal that pre-tax profits shrank to just £20m compared to almost £300m in 2008. Earnings per share, likewise, saw a stunning decline, from 30.9p to just 1.9p.

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Pick of the early market news originally appeared on Daily Finance UK on Wed, 10 Mar 2010 02:43:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayWed, 10 Mar 2010 02:43:00 ESTRemove all financial safety nets - Mynershttp://www.dailyfinance.co.uk/2010/03/09/remove-all-financial-safety-nets-myners/http://www.dailyfinance.co.uk/2010/03/09/remove-all-financial-safety-nets-myners/http://www.dailyfinance.co.uk/2010/03/09/remove-all-financial-safety-nets-myners/#commentsFiled under: , , ,

HBOS logoLet's remove the bail-out safety net. Let's start treating money as if it's something you could actually lose.

Crikey, you mean, the government won't bail us out if we make a boo-boo? Even just one or two?

That's right. That was the crux of Lord Myners' Smith Institute speech last night to financial industry players: start behaving as if you really have something to lose.

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Remove all financial safety nets - Myners originally appeared on Daily Finance UK on Tue, 09 Mar 2010 09:25:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayTue, 09 Mar 2010 09:25:00 ESTHMRC staff morale at rock-bottomhttp://www.dailyfinance.co.uk/2010/03/09/hmrc-staff-morale-at-rock-bottom/http://www.dailyfinance.co.uk/2010/03/09/hmrc-staff-morale-at-rock-bottom/http://www.dailyfinance.co.uk/2010/03/09/hmrc-staff-morale-at-rock-bottom/#commentsFiled under: , , ,

HMRC logo outside a grey buildlingDid you think HMRC was a highly-oiled professional machine dedicated to tackling and confronting the world of tax avoidance and its nefarious practitioners?

Some still labour under this idea apparently. The Treasury Select Committee isn't one. It reckons HMRC is badly organized, performs poorly and that its employees suffer from low morale.

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HMRC staff morale at rock-bottom originally appeared on Daily Finance UK on Tue, 09 Mar 2010 08:12:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayTue, 09 Mar 2010 08:12:00 ESTPick of the early market newshttp://www.dailyfinance.co.uk/2010/03/09/pick-of-the-early-market-news/http://www.dailyfinance.co.uk/2010/03/09/pick-of-the-early-market-news/http://www.dailyfinance.co.uk/2010/03/09/pick-of-the-early-market-news/#commentsFiled under: , ,

Ticker board sign of the FTSE 100=Troubled Eurotunnel Group has been in the news for all the wrong reasons. It endured a firestorm of criticism recently after leaving tens of thousands of passengers stranded at Christmas.

The train operator has now announced net profits of just €1.4m compared to €44m in 2008 - a huge tumble. "The results for the year 2009 are proof of Eurotunnel's resilience in the face of difficulties," says Jacques Gounon, boss of the Eurotunnel Group.

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Pick of the early market news originally appeared on Daily Finance UK on Tue, 09 Mar 2010 02:49:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayTue, 09 Mar 2010 02:49:00 EST£250m dividend for Matalan bosshttp://www.dailyfinance.co.uk/2010/03/08/matalan-boss-pays-himself-250m-dividend/http://www.dailyfinance.co.uk/2010/03/08/matalan-boss-pays-himself-250m-dividend/http://www.dailyfinance.co.uk/2010/03/08/matalan-boss-pays-himself-250m-dividend/#commentsFiled under: , ,

Matalan logoControlling shareholder John Hargreaves of Matalan is to pay himself a £250m dividend. Sixty-six year old Hargreaves regularly receives generous dividends from his company - but a £250m pay-out certainly errs on the side of generous.

Hargreaves attempted to sell his budget 200-store homeware chain earlier this year. However Hargreaves, who took the company private in 2006, and several investors couldn't agree to a sticker price.

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£250m dividend for Matalan boss originally appeared on Daily Finance UK on Mon, 08 Mar 2010 04:43:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayMon, 08 Mar 2010 04:43:00 ESTWomen still denied senior work roleshttp://www.dailyfinance.co.uk/2010/03/08/women-still-denied-senior-work-roles/http://www.dailyfinance.co.uk/2010/03/08/women-still-denied-senior-work-roles/http://www.dailyfinance.co.uk/2010/03/08/women-still-denied-senior-work-roles/#commentsFiled under: , , ,

A smartly dressed woman looking sadWomen are not making the grade in senior business roles. Still. That's the conclusion of the World Economic Forum (WEF) which says the world's top companies are still failing to educate, train and reward women higher up the company food chain.

WEF says India has the lowest amount of female employees at high-ranking positions. The US, on the other hand, scored well with the highest percentage of female employees (52%) occupying high-level positions.

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Women still denied senior work roles originally appeared on Daily Finance UK on Mon, 08 Mar 2010 04:21:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayMon, 08 Mar 2010 04:21:00 EST£3m "golden hello" for Unilever CFOhttp://www.dailyfinance.co.uk/2010/03/07/3m-golden-hello-for-unilever-cfo/http://www.dailyfinance.co.uk/2010/03/07/3m-golden-hello-for-unilever-cfo/http://www.dailyfinance.co.uk/2010/03/07/3m-golden-hello-for-unilever-cfo/#commentsFiled under: , ,

Unilever logoHow pleasant it is to say hello when your name is Jean-Marc Huët. The new chief financial officer of Unilever received, it is now revealed, a "golden hello" worth more than £3m in February.

The deal is made up of cash and shares - none of which is performance related. Huët's own salary will be £680,000 with the potential to earn up to £1m a year.

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£3m "golden hello" for Unilever CFO originally appeared on Daily Finance UK on Sun, 07 Mar 2010 06:45:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidaySun, 07 Mar 2010 06:45:00 ESTIcelanders reject £3.4bn debt planhttp://www.dailyfinance.co.uk/2010/03/07/icelanders-reject-brit-uk-3-4bn-debt-plan/http://www.dailyfinance.co.uk/2010/03/07/icelanders-reject-brit-uk-3-4bn-debt-plan/http://www.dailyfinance.co.uk/2010/03/07/icelanders-reject-brit-uk-3-4bn-debt-plan/#commentsFiled under: , , , ,

Iceland's flagIcelanders have overwhelmingly voted against paying off their British and Dutch debts. More than 90% of those who voted claim they will not enter debt slavery, paying back more than £3.4bn, for the wrongs of a selfish minority of well-connected bankers and ineffective regulatory oversight.

Icelanders do want to take responsibility for their debts, many say. They just want a fairer deal. So, the British and Dutch government will have to wait a bit longer for their I.O.U chits to be paid off.

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Icelanders reject £3.4bn debt plan originally appeared on Daily Finance UK on Sun, 07 Mar 2010 05:53:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidaySun, 07 Mar 2010 05:53:00 ESTSerious play: Lego builds £1.4bn in saleshttp://www.dailyfinance.co.uk/2010/03/05/serious-play-lego-builds-1-4bn-in-sales/http://www.dailyfinance.co.uk/2010/03/05/serious-play-lego-builds-1-4bn-in-sales/http://www.dailyfinance.co.uk/2010/03/05/serious-play-lego-builds-1-4bn-in-sales/#commentsFiled under: , , ,

Lego iconBrick by brick, Lego has become the UK's third biggest toy-maker. Last year Lego built up its UK market share to 4.6%. Lego also managed to build up its global market share too to 4.8%.

It's an especially impressive achievement in a very tough sales market. Just look at the figures globally: revenues soared to nearly £1.4bn from £1.01bn the previous year.

Continue reading Serious play: Lego builds £1.4bn in sales

Serious play: Lego builds £1.4bn in sales originally appeared on Daily Finance UK on Fri, 05 Mar 2010 11:38:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayFri, 05 Mar 2010 11:38:00 ESTIceland prepares for The Big "Nei"http://www.dailyfinance.co.uk/2010/03/05/icelanders-all-set-for-the-big-nei/http://www.dailyfinance.co.uk/2010/03/05/icelanders-all-set-for-the-big-nei/http://www.dailyfinance.co.uk/2010/03/05/icelanders-all-set-for-the-big-nei/#commentsFiled under: , , ,

Iceland flagIceland's referendum about its repayment terms to Britain and the Netherlands will go ahead shortly. A "Nei" vote is widely predicted.

Icelanders have plenty of good resasons to say 'Nei"- as well as plenty of good reasons to accept the crushing weight of its £3bn debts: the possibility of EU membership and international financial aid from the IMF.

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Iceland prepares for The Big "Nei" originally appeared on Daily Finance UK on Fri, 05 Mar 2010 08:26:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayFri, 05 Mar 2010 08:26:00 ESTUnions prepare to bite back at Krafthttp://www.dailyfinance.co.uk/2010/03/05/unions-prepare-to-bite-back-at-kraft/http://www.dailyfinance.co.uk/2010/03/05/unions-prepare-to-bite-back-at-kraft/http://www.dailyfinance.co.uk/2010/03/05/unions-prepare-to-bite-back-at-kraft/#commentsFiled under: , , ,

Unite union logoWe want above-inflation pay rises. We want promises you won't cut pay for extra hours or other benefits. That's the blunt message Cadbury workers are telling new owner, Kraft.

But will they listen? Kraft handed over £11.4bn for the British chocolate maker. It did this by borrowing more than £7bn - which means it's under pressure to keep costs to a minimum.

Continue reading Unions prepare to bite back at Kraft

Unions prepare to bite back at Kraft originally appeared on Daily Finance UK on Fri, 05 Mar 2010 04:47:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayFri, 05 Mar 2010 04:47:00 ESTBrown attacks Obama's financial reformshttp://www.dailyfinance.co.uk/2010/03/04/brown-attacks-obamas-financial-reforms/http://www.dailyfinance.co.uk/2010/03/04/brown-attacks-obamas-financial-reforms/http://www.dailyfinance.co.uk/2010/03/04/brown-attacks-obamas-financial-reforms/#commentsFiled under: , ,

Brown and Obama in suits wavingDon't believe the smiles. Gordon Brown thinks President Obama's plans to limit the size of US banks and ban high-risk trading activities won't work. And he's sent business secretary Lord Mandelson to give the message to the Americans personally.

Mandelson has been in Manhattan where he told a group of business students at New York University that the speed of America's reform program came as a surprise to the Brits - and this surprise is a measure of just how much less special the so-called "special relationship" is these days.

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Brown attacks Obama's financial reforms originally appeared on Daily Finance UK on Thu, 04 Mar 2010 08:07:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayThu, 04 Mar 2010 08:07:00 ESTPrimark poaches M&S ethics exechttp://www.dailyfinance.co.uk/2010/03/04/primark-poaches-mands-ethics-exec/http://www.dailyfinance.co.uk/2010/03/04/primark-poaches-mands-ethics-exec/http://www.dailyfinance.co.uk/2010/03/04/primark-poaches-mands-ethics-exec/#commentsFiled under: , ,

Shopper walking up high street with Primark bag; shot taken from the ground looking upPrimark may be loved by canny discount-hunters. But flogging rows of hoodies and cargo shorts made in Bangladesh's teeming sweatshops have not endeared it to ethical shoppers.

That's why, perhaps, M&S' Libby Annat has been persuaded to sign up as Primark's new ethical trade manager. Ms Annat will be a busy lady. In 2005, Primark scored just 3.5 out of 20 on a range of ethical criteria.

Continue reading Primark poaches M&S ethics exec

Primark poaches M&S ethics exec originally appeared on Daily Finance UK on Thu, 04 Mar 2010 05:30:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayThu, 04 Mar 2010 05:30:00 ESTUK 100-FTSE tax payouts threaten jobshttp://www.dailyfinance.co.uk/2010/03/03/uk-100-ftse-tax-payouts-threaten-jobs/http://www.dailyfinance.co.uk/2010/03/03/uk-100-ftse-tax-payouts-threaten-jobs/http://www.dailyfinance.co.uk/2010/03/03/uk-100-ftse-tax-payouts-threaten-jobs/#commentsFiled under: , , ,

FTSE 100 graphThe One Hundred Group has done some calculator punching. It reckons the government grabbed nearly 57% of gross profits in taxes from the UK's top FTSE-100 companies in the last year.

The One Hundred Group represents some big guns: M&S, HSBC, Shell. Currently the government grabs 28% in corporation taxes and will increase employer's national insurance contributions next April - should it remain in power.

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UK 100-FTSE tax payouts threaten jobs originally appeared on Daily Finance UK on Wed, 03 Mar 2010 07:43:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayWed, 03 Mar 2010 07:43:00 ESTUK consumer confidence in new surgehttp://www.dailyfinance.co.uk/2010/03/03/uk-consumer-confidence-in-new-surge/http://www.dailyfinance.co.uk/2010/03/03/uk-consumer-confidence-in-new-surge/http://www.dailyfinance.co.uk/2010/03/03/uk-consumer-confidence-in-new-surge/#commentsFiled under: , , ,

Taking a credit card out of a walletIt's pretty confusing out there. Just a few days ago Nationwide told us house prices took a hit in February. Yesterday we reported that fewer UK workers could expect a payrise this year.

Now we have Nationwide telling us that UK consumer confidence reached a two-year high last month. Apparently there was a lot of excitement over our 0.1% crawl out of recession. Are things actually getting better?

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UK consumer confidence in new surge originally appeared on Daily Finance UK on Wed, 03 Mar 2010 04:23:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayWed, 03 Mar 2010 04:23:00 ESTSinger Nana gives up pension for Greecehttp://www.dailyfinance.co.uk/2010/03/03/diva-nana-gives-up-pension-for-greece/http://www.dailyfinance.co.uk/2010/03/03/diva-nana-gives-up-pension-for-greece/http://www.dailyfinance.co.uk/2010/03/03/diva-nana-gives-up-pension-for-greece/#commentsFiled under: , , ,

Nana Mouskouri wearing a black fur coatWill Nana's pension help rescue debt-raddled Greece? The diva and singer of The White Rose of Athens has offered her own pension to her cash-strapped government to help her country through its debt crisis.

Mouskouri's Brussels pension is thought to be worth nearly £15,000 a year. This amount won't make much more than a tiny scratch against Greece's interest payments - Greece's owes €220 bn to overseas banks currently, equivalent to almost 115% of her GDP.

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Singer Nana gives up pension for Greece originally appeared on Daily Finance UK on Wed, 03 Mar 2010 03:34:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayWed, 03 Mar 2010 03:34:00 ESTGreen cars dominate Geneva showhttp://www.dailyfinance.co.uk/2010/03/02/geneva-motor-show-glutted-by-new-models/http://www.dailyfinance.co.uk/2010/03/02/geneva-motor-show-glutted-by-new-models/http://www.dailyfinance.co.uk/2010/03/02/geneva-motor-show-glutted-by-new-models/#commentsFiled under: ,

Audi A1 in redIt's one of the busiest and greenest Geneva motor shows in years. The wraps are off more than 30 world premieres - a complete tsunami of new models breaching the shores of the city's eponymous lake.

Troubled Toyota will reveal its new petro-electric hybrid. Aston Martin has shown off its new Cygnet. Then there's Porsche's new 918 Spyder hybrid (think a 500bhp V8 tied to just 70g/km of CO2 - a staggering achievement).

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Green cars dominate Geneva show originally appeared on Daily Finance UK on Tue, 02 Mar 2010 08:18:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayTue, 02 Mar 2010 08:18:00 ESTUK workers abandon 2010 payrise hopeshttp://www.dailyfinance.co.uk/2010/03/02/most-uk-workers-give-up-payrise-hope/http://www.dailyfinance.co.uk/2010/03/02/most-uk-workers-give-up-payrise-hope/http://www.dailyfinance.co.uk/2010/03/02/most-uk-workers-give-up-payrise-hope/#commentsFiled under: , , , ,


Man looking at bank statement - not very amusedMore British consumers will need to stick to the own-brand muesli and keep an eye on the thermostat. A new YouGov survey suggests 16m workers - half the UK's workforce - don't expect to get any pay rise at all this year.

The YouGov survey was conducted last month with more than 4,000 adults. Just one in 10 workers expect to get a rise more than the rate of inflation, with less than a third expecting a rise less than the rate of the cost of living.

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UK workers abandon 2010 payrise hopes originally appeared on Daily Finance UK on Tue, 02 Mar 2010 06:49:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayTue, 02 Mar 2010 06:49:00 EST