Scottish independence: Former Sainsbury’s boss warns of higher prices if there’s a Yes vote September 12, 2014 In a fresh blow for the pro-independence campaign, the former CEO of Sainsbury's Justin King has warned Scots they will pay higher prices in the shops if they vote to abandon the union of 18 September. Speaking to the BBC's Robert Peston, King said: It is more expensive to do business in Scotland today. Business [...]
JD Wetherspoon share price up as boss claims VAT “biggest danger to pubs” September 12, 2014 JD Wetherspoon has reported record sales and profit in its full-year results, yet founder and chairman Tim Martin has described the government's VAT on pubs as a danger to the industry. Shares in the company have risen 1.31 per cent in early morning trading. Profit before tax and after exceptional items was up [...]
Most bank branches could close over the next 10 to 20 years September 11, 2014 Most bank branches could close over the next 10 to 20 years, shaking up the whole landscape of British banking – and the high street – industry analysts predicted yesterday. In a decade, a bank could serve the whole UK with just 500 branches, Deutsche Bank analysts forecast. Right now Lloyds Banking Group has more [...]
What’s in a name? Salesforce set to lose battle to rename Heron Tower September 11, 2014 The controversial renaming of Heron Tower to Salesforce Tower is set to be abandoned after the owners of the City skyscraper agreed this week to withdraw the application. The parties involved are understood to be close to reaching an agreement that will see the building called simply 110 Bishopsgate, its street name, with existing name [...]
Scottish independence: Boost for No as Alex Salmond’s economic plan torn apart September 11, 2014 An influential thinktank yesterday tore apart Alex Salmond’s economic plan for an independent Scotland, warning that a Yes vote will make it harder to protect public spending from cuts. The blow to Salmond’s case for independence came as a number of high-profile UK retailers and banks added their names to a growing list citing concerns [...]
Amazon planning to more than double its workforce in London September 11, 2014 Online retail giant Amazon has signed a deal to open a huge office around the corner from Silicon Roundabout, where it will more than double its current total UK corporate workforce to more than 5,000 employees. Amazon’s new home will be Principal Place, a massive development between Liverpool Street and Shoreditch High Street stations, which [...]
EU leaders give green light to Russia sanctions September 11, 2014 EUROPEAN leaders have agreed a plan to enact tough new sanctions on Russia over the conflict in Ukraine. The decision was made yesterday morning and the sanctions, which are expected to further restrict the import of dual-use goods, restrict bank loans and make it harder for Russia to do business with the EU on oil [...]
Next profits up after recovery spurs spending September 11, 2014 NEXT yesterday reported strong half-year profits, fuelled by the economic recovery, rising house prices and higher household spending. Total sales were 10.3 per cent stronger than for the same period last year and pre-tax profits rose 19.3 per cent to £324.2m, compared with £271.8m a year earlier. But the fashion and home retailer said it [...]
Europe’s biggest banks are still facing dozens more giant fines September 11, 2014 EUROPE’S biggest banks could face as many as 63 more giant fines between them over the coming years as regulators continue to comb through their misdeeds, analysts at Berenberg warned yesterday. There are 15 major issues still outstanding which could lead to fines of more than €100m (£80m) each, per bank. Those investigations include Libor [...]
Autonomy hits back at HP’s fraud allegation September 11, 2014 Autonomy founder Mike Lynch yesterday hit back at Hewlett-Packard’s allegations of fraud by publishing a file of internal documents that he claimed contradicted some of his accuser’s most damaging accusations. HP last week publicly disclosed for the first time some of the detail behind its allegations that it was forced to write down more than [...]