John D. Rock, Former G.M Executive, Is Dead At 71 John D. Rock was a blunt-talking General Motors executive who tried unsuccessfully to save the Oldsmobile division.... Read Full Article No Charges Over Israeli Cluster Bombs Israeli military prosecutors have announced they will not press charges over the army’s use of cluster bombs during the war against Hezbollah guerillas in Lebanon, actions that had been widely critici... Read Full Article Warning Of New Bird Flu Danger Bird flu has spread between several humans, according to a new study of deaths in Indonesia last year.... Read Full Article Northern Rock Defeats Rebel Investors In Key Vote <a href="http://companyinfo.northernrock.co.uk/downloads/noticeOfEGM.pdf">Read the resolutions for today’s EGM in full </a>... Read Full Article Condé Nast To Close Jane, Ending Effort At Revival Despite a turnaround effort that had shown signs of progress, Jane magazine will close this month after a nearly 10-year run.... Read Full Article |
Federation NewsItalians are losing taste for pasta as price rises begin to biteThe Mediterranean diet is under threat in the country that invented it as rising prices for staples such as pasta, bread, fruit and vegetables alter Italian eating habits. The Confedera-zione Italiana Agricoltori (CIA), the Italian farmers’ confederation, said that Italians were eating “chicken pieces instead of pasta, fried foods instead of vegetables and cheese instead of fruit”. Even wine sales have fallen by nearly 5 per cent.Read Full Article Companies face cash squeeze as late payment of bills growsCompanies are suffering a cash squeeze from delayed invoice payments as the credit crunch begins to hit the “real” economy. Smaller businesses are complaining that some large customers have begun to extend their payment periods arbitrarily, putting a strain on their cashflows.<br/> <br/> The Times has learnt that small business groups will press the Department for Business to take steps to put more pressure on big customers to pay on time. However, the issue is hard to resolve because it hinges on the relationship between the supplier and the customer and most small businesses feel dependent on their customers.<br/> <br/> If late payment is becoming a trend it could have serious implications for the state of the economy, indicating that cash is becoming an issue for big customer companies and their suppliers.<br/> <br/> Research from Ernst & Young (E&Y), the accountant, showed that profit warnings from British companies hit a seven-year high in the first quarter. E&Y said companies issued 114 alerts in the first three months of 2008, mainly in the retail sector, as the credit crunch hit customer demand.<br/> <br/> The Federation of Small Businesses estimates that 10 per cent of small business collapses are triggered by late or nonpayment of bills. Stephen Alambritis, head of government affairs at the federation, said: “A number of big customers have raised their payment terms because of the credit crunch. It is becoming an area of concern. Normally businesses would go to their banks when they need more cash but that is not easy at the moment.”<br/> <br/> More businesses are being forced to raise cash by invoice discounting - borrowing from banks based on the money they expect to receive from invoiced work. However, Mr Alambritis said that this was not an option for the smallest companies because it and factoring, another form of borrowing based on invoices, can be expensive. The British Chambers of Commerce said: “We are hearing from our members that late payments are becoming a growing problem. Larger companies have a responsibility in a slowing economy to pay suppliers promptly. Smaller firms need to know when they will be paid and should not be mucked around by having payment schedules arbitrarily changed.”<br/> <br/> Ian Peters, head of external affairs at the EEF manufacturers’ organisation and a member of the Small Business Forum that works with the Department for Business, said: “The issue of late payment seems to be growing. It is perhaps an indication of the tightening of credit.”<br/> <br/> Barclays, which lends significantly to manufacturing companies, said that more companies were trying to convert their invoices into cash quickly through invoice discounts. Ray O’Donoghue, head of Barclays’ manufacturing division, said: “That side of the market is growing. People have become a lot more cash conscious.”<br/> <br/> The Government has limited scope for action against late payment. It is already possible for businesses to claim interest on money owed in late payments. However, the FSB said that few companies actually made claims for fear of damaging the relationship with the customer or of losing the business.<br/> <br/> A spokesman for the Department for Business said that ministers would meet small business representatives soon to discuss nonlegislative action to help to speed up payments. He said: “It is an issue we have been talking to business about. We want to help to tackle barriers to enterprise, particularly in the current climate.”Read Full Article Alistair Darling bows to pressure from small business to revise capital gains tax planAlistair Darling was accused yesterday of doing nothing to help the “business powerhouses” of Britain after bringing forward capital gains tax concessions worth £200 million.<br/> <br/> Organisations representing small companies welcomed the Chancellor’s changes to his original plans for a flat rate of CGT at 18 per cent by introducing a relief for entrepreneurs. But they said the episode had damaged business relations with the Government.<br/> <br/> Mr Darling responded to pressure by announcing that the first £1 million of any gains would be taxed at 10 per cent, rather than 18 per cent.<br/> <br/> The 18 per cent rate will apply to any gains over £1 million, but the Chancellor said 90 per cent of the expected 80,000 disposals eligible for relief next year would have their entire gain taxed at 10 per cent.<br/> <br/> Gains made on different occasions would also qualify for the 10 per cent rate up to a “cumulative lifetime total of £1 million of gains”, he said.<br/> <br/> The plan was more generous than that put forward by the Federation of Small Businesses, and the FSB’s chairman, John Wright, welcomed the action. Mr Wright said that there had been huge uncertainty about what small businesses’ tax liabilities would be from April 2008 and this had made planning for the future very difficult. However, he added that the way that the issue had been handled had “seriously eroded small businesses’ trust in the Government”.<br/> <br/> Other organisations voiced concerns about the revised CGT and the manner in which it had been changed.<br/> <br/> Martin Temple, the chairman of EEF, the industry body for engineering and manufacturing employers, said: “Today’s announcement sends mixed messages about how favourable the UK tax regime is for investment.”Read Full Article Ex-Officers Call on Musharraf to Step Down Before ElectionsAn influential group of former military officers said the president no longer represented the unity and the symbol of the federation.Read Full Article Soccer Notebook: FIFA Widens the Bidding for the 2018 World CupFIFA’s decision to end its short-lived rotation system among the regional confederations to host the World Cup means increased competition for the United States? 2018 bid.Read Full Article External News for: federationFrench Open needs new or expanded venue, national tennis federation says - ESPNeuronewsFrench Open needs new or expanded venue, national tennis federation saysESPNAP PARIS -- The French tennis federation says the French Open needs to get bigger or move from its historic site if it wants to stay competitive with the ...French Open could move out of Paris, director saysReutersTime please for Roland Garros?Independent Onlineall 56 news articles »French Open needs new or expanded venue, national tennis federation says - ESPNeuronewsFrench Open needs new or expanded venue, national tennis federation saysESPNAP PARIS -- The French tennis federation says the French Open needs to get bigger or move from its historic site if it wants to stay competitive with the ...French Open could move out of Paris, director saysReutersTime please for Roland Garros?Independent Onlineall 56 news articles »Water Environment Federation Releases Clean Water Act Conference - Public Works.comWater Environment Federation Releases Clean Water Act ConferencePublic Works.comWater Environment Federation (WEF) and the Nicholas Institute for Environmental Policy Solutions at Duke University organized the Considering the Clean ...and more »French Open needs new or expanded venue, national tennis federation says - ESPNeuronewsFrench Open needs new or expanded venue, national tennis federation saysESPNAP PARIS -- The French tennis federation says the French Open needs to get bigger or move from its historic site if it wants to stay competitive with the ...French Open could move out of Paris, director saysReutersTime please for Roland Garros?Independent Onlineall 56 news articles »Water Environment Federation Releases Clean Water Act Conference - Public Works.comWater Environment Federation Releases Clean Water Act ConferencePublic Works.comWater Environment Federation (WEF) and the Nicholas Institute for Environmental Policy Solutions at Duke University organized the Considering the Clean ...and more »Chief of Ski Race Federation resigns from his post - ITAR-TASSYahoo! EurosportChief of Ski Race Federation resigns from his postITAR-TASSHe tendered his resignation to the presidium of the federation, its press service said. "Regrettably, the work done for the development of ski racing and ...Russian ski president quits over Olympic flopUSA TodayRussian cross-country ski boss resigns after poor OlympicsEarthtimes (press release)Russian skiing chief quits over Games fiascoReuters IndiaESPNall 29 news articles » |
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