Business leaders have issued a fresh warning today about Britain's competitiveness, releasing a survey of leading executives which suggests the country is slipping behind its international rivals.
"The UK is facing increasing competition as a destination for business investment and, although it is starting from a strong base, will need to work hard if it is to maintain its position," the CBI said.
If future growth is to be assured, the UK must adapt and improve its policies to recognise the concerns of investors, the country's leading business group said.
The UK is performing poorly - and getting worse - in the areas of regulation, business taxation, personal taxation and planning and infrastructure, all of which are critical to investment decisions, the Confederation of British Industry (CBI) said, writes the Independent.
It will use the results to urge the Government to "adapt and improve its policies to recognise the concerns of investors".
West Europe loses out in shake-up of IMF
Managing director Dominique Strauss-Kahn called it ‘very historic' and the biggest reform of the International Monetary Fund since its inception at the end of the Second World War.
Finance ministers from the G20 leading economies agreed to a major shake-up of the IMF as they recognised the rapid transfer in economic power from Western industrial nations to emerging Asian nations, writes the Mail.
At a weekend summit in Gyeongju, South Korea, they also agreed to refrain from competitive devaluation of their currency to avoid a currency and trade war among the 20 major world economies.
Cable set to tighten up foreign acquisitions
A radical shake-up of Britain's takeover laws has been signalled by the Secretary of State for Business, Vince Cable.
Mr Cable told reporters he was examining the issue and the "Cadbury's Law" argument - which has been live issue ever since Kraft's £10.8bn hostile takeover of the British chocolate-maker last year demonstrated the comparative ease with which national industrial assets could be acquired by foreign interests, writes the Independent.
Mr Cable said: "There does remain a problem that as far as we can see from the objective evidence takeovers tend to reduce value, not increase it. We are going to have to look; I want to take what the Takeover Panel has done - and it is positive - and probably go rather further."
Pound forecast to tumble on 'insane' spending cuts
Britain's spending cuts have been branded as "absolutely insane" by one of the world's leading currency traders, who expects the pound to tumble beyond the low it has set this year.
"I think what Britain is doing is absolutely insane" John Taylor, the founder of the $8bn FXConcepts fund, told The Sunday Telegraph. "The Conservatives will lose their stomach for this."
Reducing Britain's £156bn budget deficit is the cornerstone of the government's plan for restoring the economy's health, writes the Telegraph. George Osborne, the Chancellor of the Exchequer, told Parliament last week that the £81bn in spending cuts would pull "Britain back from the brink."
Treasury cheer as dividends rise for first time in a year
Dividends are growing for the first time in more than a year, Capita Registrars will reveal today.
The 1.6% rise in the third quarter of 2010 follows five consecutive quarters of decline, the firm's dividend monitor has found.
The strong showing prompted it to upgrade its forecast for the total payout for the year by £1bn, though the £55.7bn now expected is still 5% lower than the 2009 payout and 17% lower than its the 2008 peak, writes the Independent.
But Capita will say that had BP not been forced to cancel its payment as a result of the Gulf of Mexico oil spill, dividends would have actually risen by 4% this year, making the total payment flat in real terms.
China 'committed' to letting currency rise, says US
The US treasury secretary, Timothy Geithner, said he believes China is now "committed" to allowing its currency to rise in value, as he attended hastily arranged talks with officials in the port city of Qingdao yesterday.
The unscheduled meeting with Chinese vice-premier Wang Qishan to discuss the rising economic tensions between the two countries followed a G20 finance ministers' meeting in South Korea, writes the Guardian.
At the meeting, officials pledged to avoid currency manipulation, although they stopped short of setting targets for trade imbalances.
The meeting comes against the backdrop of the Obama administration struggling to contain the domestic political fallout of its battered economy.
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