Sainsbury’s new boss Mike Coupe blames “perfect storm” for sales drop October 1, 2014 Sainsbury's new chief executive said that a “perfect storm” of effects had plunged sales further into the red in the second quarter as the supermarket retailer cut its full-year sales forecast and warned that it might review its dividend. In his first official trading update since taking over from Justin King in July, Mike [...]
Boris Johnson wields a brick and calls for more new London homes in Conservative party conference speech September 30, 2014 London mayor Boris Johnson gave a typically jovial speech at the Conservative party conference in Birmingham yesterday, bouncing around on stage holding a brick above his head while promising not to throw it at the audience. Johnson, who is hoping to win a seat in the House of Commons next year, spoke of how the [...]
Chuka Umunna vows to get firms to put more ethnic minorities on boards September 30, 2014 Labour’s shadow business secretary Chuka Umunna yesterday promised to hold UK businesses to account over the number of senior black and ethnic minority staff they employ, most notably at board level. Pledging to introduce a Davies-style commission and report into why people from ethnic minorities make up just one in 15 senior management positions, Umunna [...]
Eurozone woes give Draghi leeway on QE September 30, 2014 THE EUROZONE is still flirting with deflation while unemployment remains stubbornly high, opening up the possibility that the European Central Bank (ECB) will deliver further monetary easing when it announces its latest policy decision tomorrow. Figures published yesterday by official database Eurostat showed that unemployment in August came in at 11.5 per cent – the [...]
Boris Johnson’s Conservative Party Conference speech: “Semi-Marxist Miliband”, “eat the kippers” and “planet zog” September 30, 2014 Conservative favourite and London mayor Boris Johnson has delivered an upbeat speech to the Tory faithful at the party's conference in Birmingham. With swipes at Ukip defectors, Ed Miliband and Vince Cable, the speech was well-received in a conference hall nervous about the prospects of electoral success and party unity. Johnson ran through a list [...]
Forget Crossrail, Boris Johnson proposes south London Tube extension to Camberwell, Lewisham and Bromley September 30, 2014 Are you a south Londoner, fed up with the lack of Tube infrastructure, forced to rely on overcrowded overground trains for your daily commute? Me too. So maybe you should respond to this consultation over a proposed extension to the Bakerloo line, bringing the Tube out to New Cross, Lewisham, Bromley and Hayes. [...]
Boris Johnson’s former deputy drops party membership for Ukip September 30, 2014 Yesterday Boris Johnson said Tory defectors to Ukip were “utterly nuts”. But perhaps he shouldn't have spoken so soon because it turns out his former right-hand-man Richard Barnes has done just that. The former deputy mayor of London has today emerged as the latest party unfaithful, ditching his party membership in favour of the [...]
Boris Johnson: Don’t savage London powerhouse – Tory party conference September 29, 2014 Boris Johnson will today launch a valiant defence of London’s dominant position in the UK, telling the Conservative party conference that the capital’s success is crucial for British economic growth. He will also seek to boost his party’s morale in the face of recent defections to Ukip, warning Conservatives against jumping ship. Johnson is expected [...]
George Osborne finds his Tory party conference speech a little taxing but recovers speedily September 29, 2014 Party goers at the Tory conference in Birmingham had a difficult decision last night. Should they quaff champers at The Telegraph’s shindig or shuffle to Sky’s event? The two parties went head to head from 10.30pm, with David Cameron expected to show face at the former. No doubt Osborne felt he deserved a drink following [...]
QE or not QE? Mario Draghi’s policy dilemma – CNBC Comment September 29, 2014 It seems as if the European Central Bank (ECB) has been debating whether to head down the QE path forever. ECB-watchers have been reduced to pondering what the shade of Mario Draghi’s (usually blue) tie might mean for future asset purchases. But no matter how reluctant Draghi might be to label it as such, this [...]