Metro losses widen in first full year
Metro Bank, which launched in 2010 with the aim of providing a customer-friendly banking expeirence, increased its losses by 40 per cent to £33.1m for the last year. The bank has spent about £2m on each of its 12 branches – double the cost of a typical bank branch – to woo customers with the promise of better service.
Cameron eyes £13bn Olympics gain
David Cameron yesterday claimed the Olympics would provide a £13bn boost to the country over four years, amid wider uncertainty about the true impact the games will have on the UK economy. The prime minister said on Thursday that the Olympics should not be seen as “some sort of expensive luxury in tough times”, but rather as a chance to “sell Britain to the world”.
Cupid points arrow at US dating
Cupid, the Edinburgh-based online dating company, plans to expand its presence in the US, where it hopes to target niche markets such as Christians, ethnic minorities and older single people. The Aim-quoted firm is to invest an initial £1m in setting up an office on US West Coast.
Regulator warned Barclays
Directors of Barclays were warned five months ago by a regulator to address the bank’s aggressive culture. Andrew Bailey, the highest-ranking bank supervisor, attended a board meeting in February to say that the company’s sometimes buccaneering culture was unacceptable.
Oligarchs pay for wrecking oil deal
The Kremlin has taken revenge on the oligarchs who wrecked BP’s Arctic alliance with Russian oil group Rosneft, potentially leading to nationalisations.
The Daily Telegraph
France Telecom boss in suicides probe
Didier Lombard, the former boss of France Telecom, is under investigation for workplace harassment as authorities scrutinise a wave of suicides while he was at the helm of the company. Yesterday he was bailed following claims management practices during his tenure undermined employees’ “physical and mental health”.
Grammar test for 11-year-olds
All 11 year-olds will be face a grammar test from next year under government plans to raise literacy levels in primary schools. leading to nationalisations.
THE WALL STREET JOURNAL
Yahoo targets Hulu chief executive
Yahoo is considering Jason Kilar, the chief of video streaming website Hulu, for its permanent chief executive position. Interim boss Ross Levinsohn and a number of other unnamed candidates remain in the running for the job.
Germany’s Merck is set back on drug
Germany firm Merck suffered another setback for its cancer drug Erbitux, which in a trial failed to significantly increase the time advanced gastric cancer patients live without their condition worsening.