THE NEWS IN BRIEF - A TAX CUT, APPLE WORTH HALF A TILLION DOLLARS AND A MORTGAGE TIMEBOMB
A TAX CUT .....
FINANCIAL TIMES
OSBORNE WEIGHS 50P TAX RATE CUT TO 45P
By Kiran Stacey, Political Correspondent
George Osborne is considering announcing a cut in the 50p top rate of income tax to 45p in his Budget next week, after the Liberal Democrats showed willingness to drop their resistance in return for a clampdown on tax avoidance by wealthy people.
THE HALF A TRILLION DOLLAR APPLE .....
FINANCIAL TIMES
APPLE ESTIMATES UP AS IPAD GOES ON SALE
By Chris Nuttall
With the third version of Apple’s iPad going on sale on Friday, consumers’ enthusiasm is already forcing analysts to raise their estimates for the tablet and company as its shares are driven to new highs. Apple stock has risen 55 per cent in the past three months, passing $500 a share and a $500bn equity valuation for the Silicon Valley company at the end of February.
THE MORGAGE TIMEBOMB ....
DAILY MAIL
OVER-50S 'FACE INTEREST-ONLY MORTGAGE TIMEBOMB'
By Becky Barrow, Business Correspondent
Homeowners in their 50s are sitting on ‘a ticking timebomb’ of mortgages handed out during the boom years, the financial regulator warned yesterday. During a grilling by MPs, Martin Wheatley, a director of the Financial Services Authority, raised his fears about interest-only mortgages which are coming to the end of their life – but the homeowners have no money to pay off the loan.
THE OTHER NEWS .....
GUARDIAN
TESCO UK BOSS QUITS SUPERMARKET IN AFTERMATH OF SHOCK PROFIT WARNING
By Simon Bowers
You can't have two captains' declares Philip Clarke as he takes direct control of UK operations at Britain's largest retailer. Richard Brasher, head of Tesco in the UK, has quit the board with immediate effect. His departure follows reports of tensions between Brasher and the chief executive. Clarke was forced to issue a shock profit warning in January which wiped £5bn off the value of the company.
DAILY TELEGRAPH
BUDGET 2012: UK BUSINESS CHIEFS ATTACK GOVERNMENT GROWTH PLANS
By Louisa Peacock
Two of Britain’s leading businessmen have raised serious questions over the Government’s growth plans just as ministers gear up to deliver next week’s Budget. Willie Walsh, chief executive of British Airways owner International Airlines Group, and Stephen Hester, chief executive of the Royal Bank of Scotland, have warned that UK companies lack the confidence to invest. Mr Walsh mocked the Coalition, saying it changed its policy for growth “every other week”.
DAILY EXPRESS
HMV REVEALS SALE HOPE FOR ITS LIVE EVENTS
Troubled entertainment retailer HMV said yesterday a number of businesses had expressed interested in snapping up its concert and festival division HMV Live. The firm’s share price has dived following a series of profit warnings in recent months.
