May 16
The 1994 Group, which represents top institutions such as York, Durham, Exeter, Lancaster and St Andrews, said that the existing £3,200-a-year cap should be lifted to “enhance excellence in learning and teaching”.
It said that fees for the poorest students should be subsidised, suggesting higher costs for those from middle-class backgrounds.
Universities should also be able to charge more for the most expensive or sought-after courses, it was claimed. This would lead to a rise in fees for those students taking subjects such as medicine or law.
The comments are made in a submission to a government-backed review of the current system of student finance.
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Tags: 1994 Group, Group
May 16
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Dealers dumped mining shares amid talk Chile is planning higher taxes on the sector over the next two years to fund he cost of repairs in the country following an earthquake there in February.
The proposal comes soon after Australian government said it is increasing taxes on mining companies operating.
Olivetree Securities also pointed out tax rises are being considered in both China and South-Africa.
Xstrata, which owns a 44pc stake in the Collahuasi copper mine in Chile, tumbled 87p to £10.09. Olivetree Securities said that profitability levels may suffer should the Chilean Government decide to maintain the increased tax level over a longer period.
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Tags: Ftse, Ftse Suffers
May 16
Jeff Meyer, chief executive of Gartmore, has admitted that the incident has cost the investment house nearly 5pc of its assets, despite Mr Rambourg being reinstated as an analyst.
Mr Meyer told reporters: “We lost a significant amount of sales momentum.” Adding that investors had also cancelled several large mandates, Mr Meyer suggested that clients had been too swift to act.
Gartmore said that while it had a net inflow of funds of £126m in the first three months of the year, it saw an outflow of £834m in April alone in reaction to the suspension.
The shares dropped nearly over 4pc yesterday to close at 145p as analysts retained a gloomy outlook on the stock.
Mr Rambourg, along with his colleague Roger Guy, is credited with having generated 40pc of Gartmore’s revenues in recent years. H
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Tags: Gartmore, Gartmore £11bn