The FT's lead story this morning says Tony Blair has tried to reassure the middle classes in the...
The FT's lead story this morning says Tony Blair has tried to reassure the middle classes in the run up to polling day that a second Labour government would not hit high earners. Labour has pledged not to increase the upper tax rate but has come under pressure for refusing to rule out the abolition of the ceiling on national insurance contributions.
The FT reports that FleetBoston Financial, the US banking group, confirmed on Monday that it had agreed to buy Liberty Financial's mutual fund group for $900m in cash. FleetBoston, which announced it was in talks with Liberty last month, said that it would also assume $110m in revolving debt incurred to finance sales commissions.
Finally the FT writes that city regulators are preparing to clamp down on the "Friday night drop", the practise of handing to Sunday newspapers exclusive stories about important corporate events, such as takeovers. The Financial Services Authority will set out guidance banning the practise in a consultation paper.
The heads of the world's leading central banks played down fears of inflation yesterday, says the Telegraph, as attention focused on economic growth and exchange rates. Alan Greenspan of the US Federal Reserve, Sir Edward George of the Bank of England and Wim Duisenberg of the European Central Bank all told a conference in Singapore that inflation in their economies was under control, stressing that it was the only way to ensure sustainable growth.
Sunny weather turned up the heat in Britain's high streets last month, writes the Times, fuelling the fastest sales growth for more than a year, the latest survey data indicated yesterday. The figures from the British Retail Consortium (BRC)showed that the value of total sales leapt by a startling 9.3 per cent year-on-year in May, and saw City analysts sounding warnings that interest rates may have to increase.
The Independent says Sony, the Japanese giant electronics group, is to run its entire treasury operation from London to cut millions of pounds of costs from its bill for changing foreign currency and to escape what it regards as excessive red tape in Tokyo.
‘Important to have an anchor’
Lack of innovation for solutions
Some 2,000 consumers affected
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