Treasury calls on EU to stop red tape torrent September 8, 2014 Brussels must stop churning out countless financial regulations, and instead deal with the unintended consequences of the tide of red tape it has pumped out since the crash, a top Treasury official said yesterday. “We cannot allow this incredible pace and volume of standards reform to become the new normal,” said the Treasury’s financial services [...]
ITV ups the ante with call for Sky and Virgin to pay to broadcast its shows September 8, 2014 ITV chief executive Adam Crozier yesterday upped the ante on BSkyB and Virgin Media as he called for the government and its regulator Ofcom to force the pay TV firms to pay to broadcast ITV’s shows. Under the current model pay TV operators Sky, Virgin Media, BT and TalkTalk all broadcast the UK’s so-called Public [...]
Associated British Foods nears deal for first Primark warehouse in the US September 8, 2014 ASSOCIATED British Foods said yesterday its clothing giant Primark was close to striking a deal for a warehouse in the US to support its first foray in the country. Primark is set to open a 70,000 square foot store in Boston in 2015, and it is also in talks to open a further nine shops [...]
UKTV blames profit dip on new channel launch as revenues rise September 8, 2014 UKTV, the broadcaster behind the Dave television channel, saw its profits slide seven per cent last year following the costs of launching its eleventh channel. Drama, which launched in July 2013, showcases British drama with series including Sharpe and Sense and Sensibility. Meanwhile, UKTV’s share of the TV advertising market hit a record 9.1 per [...]
Manchester United’s share price gets a kicking in run up to results September 8, 2014 Manchester United’s embarrassing start to the football season appears to be weighing heavily on the club’s stock, with shares in New York tumbling by a further 4.5 per cent yesterday. The drop reflects an increasingly bearish sentiment among investors towards the club, which publishes its latest set of results tomorrow. Shares reached a peak of [...]
Bank of England likely to extend De La Rue money printing licence September 8, 2014 A licence to print money looks set to continue at banknote printer De La Rue, as the Bank of England (BoE) yesterday announced the Basingstoke based firm was its preferred bidder for a contract to print sterling banknotes. De La Rue, which first printed banknotes in 1860 for Mauritius, began printing banknotes for the BoE [...]
Electrolux to take on US rivals with $3.3bn GE Appliances buy September 8, 2014 SWEDISH giant Electrolux confirmed yesterday it hs agreed to buy GE’s appliances business for $3.3bn (£2bn) in its biggest deal to date, boosting its US presence. Electrolux, whose brands include AEG, Zanussi and Frigidaire, is the world’s second-largest home appliances company with sales of SEK 109bn (£9.5bn) last year. Following the deal, the US will [...]
Acquisitions and a rise in diversity mark year September 8, 2014 ACCOUNTANCY FIRM of the year IT’S been a tough year for many accountancy firms – making it a very tough decision for our judges to make. However, it has also been a year of opportunity, as the achievements of our nominees prove. These companies have forged ahead, seeking new markets – especially in London’s growing [...]
Tonight Apple’s Cook will face his make or break moment with the world watching – Bottom Line September 8, 2014 The world will be watching tonight as Tim Cook walks on stage to an audience of some 2,000 journalists in San Francisco, and millions of eager fans watching his every move online, as Cook shows off Apple’s latest creation. Tonight is truly a make-or-break moment for Cook. Critics have panned his safe and steady steering [...]
Retailers cheer as sales recover September 8, 2014 RETAIL sales picked up again in August, with the high street enjoying its strongest growth since January this year. Like-for-like sales rose by 1.3 per cent in August compared with same time last year and a 0.3 per cent dip in July, according to the latest data from KPMG and the British Retail Consortium (BRC). [...]