Leading the FT this morning is a report stating the US economy is likely to improve over the rest of...
Leading the FT this morning is a report stating the US economy is likely to improve over the rest of this year, although risks of a sharp slowdown in consumption, volatile energy prices and a deteriorating international environment still cloud the outlook, says a voting member of the Federal Open Market Committee.
In an interview with the FT, Michael Moskow, president of the Federal Reserve Bank of Chicago suggested inflation was "contained" and personal income looked "pretty good" but most reports in his Chicago region indicated manufacturing was "bumping along the bottom".
Around 43,000 people who have received demutualisation windfalls could have their pensions misselling compensation payment cuts, says the Telegraph, if a case being mounted in the high court tomorrow is successful.
The Times writes that Lloyd's names could face a fresh financial crisis and potential crippling new demands for cash because of an unprecedented surge in health claims in America.
Equitas, the entity set up to create a fire-wall between names and insurance claims dating back decades, is on Friday expected to say that it has been hit by a huge increase in asbestosis personal injury claims in the US. It comes just one month before a crucial US court ruling that will indicate whether the company has exposure to tobacco-related lawsuits.
The Times also says that hotel and restaurant operators could be set for heavy fines after a report revealed that the sector is the worst provider of pensions for its workforce. The report found that 71% of businesses with five or more staff - which will be required to offer staff access to stakeholder pensions from October - currently have no pension provision.
UK industry is on the brink of recession, says the Times, with profits in many sectors down 15% according to Experian, the information service.
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