The Artesian blog takes a look at the business headlines, For personalised daily news, contact Artesian
G20 to pledge stimulus until recovery assured - G20 policymakers will this weekend promise to keep economic support packages in place until recovery is certain and seek to reassure financial markets they have credible plans to withdraw the stimulus when appropriate.
Finance ministers and central bankers from the Group of 20 developed and emerging nations are meeting in London on Friday and Saturday to discuss the next steps in fighting the worst financial crisis since the Great Depression. (full story)
Google China chief leaves company - The man who led Google's expansion into China is leaving the company to start his own business.
Lee Kai-Fu, who joined from Microsoft in 2004, will step down as president of Google in greater China in September, the company said. (full story)
easyJet to close base and cut flights after Air Passenger Duty row - A row over landing fees and the Government's "blunt holiday tax" in the form of Air Passenger Duty (APD) have prompted easyJet to cut 20pc of its flying programme at Luton and close its small East Midlands base.
Andy Harrison, the low-fare airline's chief executive, said he would be diverting the aircraft to lower-cost continental airports as he attacked Luton's failure to "recognise the commercial realities of the recession" and the Government's inability to see that £10 APD on short-haul flights "costs jobs". (full story)
Financial customers deliver 9 million complaints - The UK financial services industry has been hit by nine million formal customer complaints in the past three years, new figures revealed yesterday.
The Financial Services Authority figures, which have not been published before, reveal the scale of customer dissatisfaction within the UK and indicates that it is worsening. Complaints in the second half of 2008 grew by 5.8 per cent compared with three years ago to 1.48 million — equivalent to more than 8,000 every day — with banks on the receiving end of two out of every three complaints. (full story)
Oracle’s Sun deal snagged in Brussels - Oracle’s $7.4bn acquisition of Sun Microsystems hit an unexpected and potentially damaging obstacle in Brussels on Thursday as European antitrust officials opted to break with Washington in order to scrutinise the deal more closely.
The more stringent stance in Brussels breaks with recent efforts by competition authorities on either side of the Atlantic to align their investigations, and is particularly notable since the deal has already been given the green light by a new US administration that has taken a tougher line on competition issues, particularly in the tech industry. (full story)
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