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Wake Up to Money: 21/06/2010

21/06/2010

BBC Radio 5 Live - Wake Up to Money, 21/06/2010

Pressure mounts on BP, as the oil spill could be leaking up to 100,000 barrels a day.

Pressure mounts on BP, the CBI want to curb strikes, China reverses a controversial currency policy, and a law firm discovers an increase in criminal activity by company directors.

News and views from the business world with Jeremy Naylor and Andy Verity. 

The pressure mounts on BP as an internal document reveals the company estimated 100,000 barrels of oil a day could, in theory, flow from the ruptured Gulf of Mexico well. We ask James Bevan, from the investment group CCLA, which invests money on behalf of churches and charities and is now reviewing their stake in BP, how he thinks Tony Hayward has handled the crisis.

The CBI is calling for tighter ballot rules to be bought in to avoid unnecessary strikes. They say stoppages should only be held if 40% of a balloted workforce supports action, as well as a simple majority of those voting. John Cridland, the CBI's deputy director general, explains why they want less weight to be given to the voice of unions.

China's Central Bank says now is the time for a return for a degree of currency "flexibility", reversing its criticised policy of currency price controls. We ask Richard Yetsenga, Asia currency strategist at HSBC, why China is doing this now.

The number of company directors disqualified for criminal activity has risen sharply over the past year. According to law firm Wedlake Bell there's been a 50% jump in the number of leaders of failing businesses committing theft and fraud. Edward Starling, partner and head of the rescue and restructuring team at Wedlake Bell, explains what kind of crimes are being committed.

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21/06/2010

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