LONDON, June 25 (Reuters) - Financial Times
The Bank of England needs to pump at least another 50 billion pounds ($77.80 billion) into Britain’s “stalled” economy, says David Miles of its interest rate-setting committee, warning that only a “substantial” third round of emergency bond-buying will kick-start recovery.
BT has been rebuffed for the third time, this time by the UK’s Competition Commission, in its efforts to compel its competitors to share in the costs of lowering its 3 billion pounds ($4.67 billion) pension scheme deficit through higher charges for their use of its phone lines.
The EU financial services industry is on track to spend 33.3 billion euros ($41.74 billion) over the next three years simply to comply with new regulatory demands, a study by the JWG regulatory think-tank has found.
The new chief executive of Airbus says he is ready to “bet” that the European aircraft maker’s planned new A350 widebody passenger jet will not suffer the same three-year delay that Boeing had with its 787 Dreamliner.
A string of earnings warnings from U.S. companies that are a barometer of the broader economy is casting a shadow over the outlook for equities.
Vale is preparing to build the world’s largest single processing plant for palm oil by 2015 in an effort to cut its vast fuel costs and help develop the struggling Amazon region, the Brazilian mining company told the Financial Times.
BANK CHIEFS ENJOY DOUBLE-DIGIT PAY RISES
Top U.S. and European bankers, including JPMorgan Chase’s Jamie Dimon and Citigroup’s Vikram Pandit, have enjoyed double-digit annual pay rises averaging almost 12 percent, despite widespread falls in profits and share prices, Financial Times research shows.