Ryanair business class targets no-frills corporate travellers August 27, 2014 In its latest attempt to expand its no-frillls image – and boost its bottom line – Ryanair has announced plans to offer a business class service on flights. For the bargain price of £59.99, Ryanair Business Plus will offer corporate travellers flexible ticket changes, 20kg baggage allowance, priority boarding and premium seats. The low-cost carrier [...]
Scottish independence: 130 businesses sign letter supporting the Union August 27, 2014 Over 130 businesses have joined together to sign a letter to be published in Wednesday's Scotsman, slamming the case for Scottish independence. Signatories include the CEO of BHP Billiton and the executive vice-president of policy at BG Group Sir John Grant. In total, the signatories companies account for around 50,000 Scottish jobs. The Better Together [...]
RBS share price falls as it is fined £15m for mortgage advice failings August 27, 2014 Shares in Royal Bank of Scotland fell 0.5% in early trading on Wednesday, after it was fined £14.5m for “serious failings” in the way it advised customers about mortgage loans, in another blow for the embattled bank. The Financial Conduct Authority found a series of failings by the state-owned bank and its Natwest arm in [...]
Foxtons’ share price is getting hammered, despite 57pc profit rise August 27, 2014 Foxtons has reported a 57.1 per cent rise in pre-tax profit for the six months to 30 June. The increase to £23.1m from £14.7m in 2013 was driven by strong sales and mortgage broking growth, according to its interim report. It announced it will pay out £12.8m of this in interim and special [...]
Burger King tax row hits Warren Buffett after Tim Hortons takeover announcement August 26, 2014 Burger King and US tycoon Warren Buffett were forced to defend a £7bn (£4.25bn) takeover of Canadian chain Tim Hortons yesterday amid mounting political tension in America over tax inversions. The Miami-based giant said it would buy the coffee and doughnut chain for $11.4bn and relocate to Ontario, Canada – seemingly to benefit from [...]
Europe will depend on Russian gas for decades, Fitch warns August 26, 2014 Europe will be reliant on Russian gas for at least the next decade with little alternative, analysts have claimed. Ratings agency Fitch issued a stark note yesterday, warning that Europe will continue to depend heavily on natural resources from President Vladimir Putin’s nation despite the race to diversify energy sources on the continent. “Any attempt [...]
Francois Hollande gives ex-Rothschild banker Emmanuel Macron top economics job August 26, 2014 Embattled French President Francois Hollande announced his new government yesterday, replacing his rebellious economy minister with former Rothschild banker Emmanuel Macron. The 36-year-old was previously Hollande’s economic adviser, and takes the place of Arnaud Montebourg, the firebrand socialist who trashed the government’s economic policies in a speech last weekend. Macron is viewed as a reformist [...]
Scottish rents rise as estate agents blame tenancy fees ban August 26, 2014 Scottish estate agents are blaming the country’s ban on tenancy fees for a recent rise in rents, indicating that the Labour party may face a similar challenge if it brings in the same rule for the UK after 2015. Your Move, a large network of Scottish estate agencies, argues today that a 2.7 per cent [...]
Surge in aircraft orders at Boeing lifts American recovery prospects August 26, 2014 A sharp uplift in goods orders and the highest consumer confidence in nearly seven years were recorded in the US yesterday, adding weight to evidence of the economy’s increasingly solid expansion. Orders of durable goods jumped by 22.6 per cent between June and July alone, driven primarily by a colossal 318 per cent rise in [...]
London Metal Exchange given immunity in aluminium lawsuit August 26, 2014 A US judge has dismissed the London Metal Exchange (LME) from a lawsuit in America which had accused it, along with a number of banks and commodities companies, of aluminium price-fixing. District judge Katherine Forrest concluded that the LME was an “organ” of the UK government and was therefore exempt from legal action under the [...]