Profits At Regional Banks Bolster Shares Stocks gained as record oil prices lifted energy shares and stronger-than-expected quarterly results at several regional banks helped shares of financial companies.... Read Full Article Elections Too Close To Call As Italy Goes To The Polls Italians went to the polls today amid speculation that President Napolitano may appoint a caretaker Prime Minister in the event of deadlock.... Read Full Article Critics’ Choice: New CDs New releases from Young Jeezy, Ghostface Killah, Fantasia, Miles Okazaki and the movie ’Dreamgirls.’... Read Full Article On The Road: End Of Year. Short On Miles. Coach Class, Here I Come. Fewer people are rushing to cram in miles before the end of the year to upgrade to a higher frequent-flier status.... Read Full Article Congress Questions Executives On Pay The panel was examining if Wall Street’s compensation philosophy contributed to the mortgage boom.... Read Full Article |
Stephen NewsMusic Review: Illuminating a Rare Portrait of Stravinsky on PianoListening to a whole program of Stravinsky’s piano music, like the one Stephen Gosling and Eric Huebner presented in the chapel of St. Bartholomew’s Church on Tuesday, you could admire much while being seduced by comparatively little.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 Dealbook: A Recluse Lifts the Veil a LittleStephen A. Feinberg, the reclusive founder of Cerberus Capital Management and the money man some hope will save Detroit, is no Gordon Gekko.Read Full Article Bush Aide Sees ?Cop-Out? in Olympic BoycottsNational security adviser Stephen J. Hadley said foreign leaders would be more effective influencing China with the ?quiet diplomacy? the United States is pursuing.Read Full Article King horrified by violent game bansHorror writer Stephen King criticises plans to ban violent video games, saying such a move would be undemocratic.Read Full Article External News for: stephenRep. Stephen Lynch reacts to health care legislation - NECNTPMDC (blog)Rep. Stephen Lynch reacts to health care legislationNECN(NECN) - Every member of the New England delegation voted for the Senate bill, except for Massachusetts Congressman Stephen Lynch. Some of the other members ...Most Mass. Reps Toe Line On Health CareWCVB-TVStephen Lynch Threatening No Vote Over Excise Tax – Learning the Coakley Lesson?Firedoglake (blog)Bay State labor leaders ask Lynch to reconsider voteBoston GlobeHuffington Post (blog) -My Fox Boston -CNN Political Ticker (blog)all 203 news articles »Rep. Stephen Lynch reacts to health care legislation - NECNTPMDC (blog)Rep. Stephen Lynch reacts to health care legislationNECN(NECN) - Every member of the New England delegation voted for the Senate bill, except for Massachusetts Congressman Stephen Lynch. Some of the other members ...Most Mass. Reps Toe Line On Health CareWCVB-TVStephen Lynch Threatening No Vote Over Excise Tax – Learning the Coakley Lesson?Firedoglake (blog)Bay State labor leaders ask Lynch to reconsider voteBoston GlobeHuffington Post (blog) -My Fox Boston -CNN Political Ticker (blog)all 203 news articles »Who is worse for Labour: Stephen Byers or Tony Woodley? - The GuardianTelegraph.co.ukWho is worse for Labour: Stephen Byers or Tony Woodley?The GuardianThese are bad times for Stephen Byers. It may come to nothing, but there is dark talk that he should be suspended from the parliamentary party, ...Stephen Byers facing parliamentary lobbying inquiryBBC NewsStephen Byers faces investigation over 'cash for access' lobbying scandalDaily Mail'Cab-for-hire' Stephen Byers to face sleaze watchdogTimes OnlineOLBG Betting News -Washington Post -Sunday Sunall 557 news articles »Rep. Stephen Lynch reacts to health care legislation - NECNTPMDC (blog)Rep. Stephen Lynch reacts to health care legislationNECN(NECN) - Every member of the New England delegation voted for the Senate bill, except for Massachusetts Congressman Stephen Lynch. Some of the other members ...Most Mass. Reps Toe Line On Health CareWCVB-TVStephen Lynch Threatening No Vote Over Excise Tax – Learning the Coakley Lesson?Firedoglake (blog)Bay State labor leaders ask Lynch to reconsider voteBoston GlobeHuffington Post (blog) -My Fox Boston -CNN Political Ticker (blog)all 203 news articles »Who is worse for Labour: Stephen Byers or Tony Woodley? - The GuardianTelegraph.co.ukWho is worse for Labour: Stephen Byers or Tony Woodley?The GuardianThese are bad times for Stephen Byers. It may come to nothing, but there is dark talk that he should be suspended from the parliamentary party, ...Stephen Byers facing parliamentary lobbying inquiryBBC NewsStephen Byers faces investigation over 'cash for access' lobbying scandalDaily Mail'Cab-for-hire' Stephen Byers to face sleaze watchdogTimes OnlineOLBG Betting News -Washington Post -Sunday Sunall 557 news articles »Biogen Idec Appoints Eric Rowinsky and Stephen Sherwin to Board of Directors ... - MarketWatch (press release)RTT NewsBiogen Idec Appoints Eric Rowinsky and Stephen Sherwin to Board of Directors ...MarketWatch (press release)CAMBRIDGE, Mass., Mar 22, 2010 (BUSINESS WIRE) -- Biogen Idec (NASDAQ:BIIB) today announced that Dr. Eric K. Rowinsky and Dr. Stephen A. Sherwin have been ...Icahn, Biogen end fight with nomination of Bay Area directorBizjournals.comBiogen appoints directors, per Icahn dealBoston Business JournalMarket Report -- In Play ()MSN MoneyReuters -RTT News -Xconomyall 41 news articles » |
i8news.com |