F1 owner makes bid for auctioneer Bonhams June 9, 2014 PRIVATE equity firm CVC Capital Partners is understood to be among a list of suitors circling the auction house Bonhams after tabling a preliminary takeover offer last week. Bonhams, which has sold classic cars such as replicas of Aston Martins driven by James Bond, could fetch hundreds of millions of pounds, according to Sky News.
UK rises to take top investment spot in Europe June 9, 2014 INVESTORS are increasingly turning to the UK instead of other European countries, with the number of large foreign direct investments jumping by 15 per cent as growth picked up during the last year. The UK is now ranked first in Europe among global investors, who were asked by audit giant EY which countries they believe [...]
Confident shoppers splash out again as recovery gathers speed June 9, 2014 HOUSEHOLD spending rose for the eighth consecutive month in May, according to Visa figures out today. Spending in the month was 0.9 per cent higher than in May last year, showing growth despite the distortionary effect of Easter on shopping patterns. The effect of an early Easter pushed up spending by 2.9 per cent in [...]
Euro central banker says ECB will become the odd one out June 9, 2014 THE MONETARY policies of the European Central Bank (ECB) will be moving in the opposite direction to their US and UK equivalents for several years, according to a senior policymaker. Benoit Coeure, an economist on the ECB’s executive board, told a French radio station this weekend that the interest rate stances of some of the [...]
EE threatens to leave Carphone Warehouse and Phones4U June 9, 2014 BRITAIN’S biggest mobile operator EE is conducting a review of its sales through Carphone Warehouse and Phones4U, which could see it pull out of one or both retailers. The results of the review are expected within three weeks, and the decision could threaten Carphone’s £3.6bn merger with Dixons if EE pulls its phones from sale. [...]
Operations chief on track for top job at bookmaker William Hill June 9, 2014 WILLIAM Hill is poised to name operations director James Henderson as its new chief executive, replacing departing boss Ralph Topping. Topping is due to step down from his role at the FTSE 100-listed bookmaker by the end of next year, but is said to be happy to leave sooner once a successor has been chosen. [...]
GDP to jump as measurement changes made June 9, 2014 MAJOR changes to the way that the UK economy is measured are set to come into force this week, which will likely make the economy significantly larger than previously thought. The Office for National Statistics (ONS) will tomorrow bring in changes to the country’s national accounts which could boost GDP by around five per cent. [...]
London to give Airbnb rentals the greenlight June 9, 2014 LONDON will open its doors to home and room rental apps such as Airbnb and OneFineStay as part of the government’s move to quash outdated laws that ban short-term rentals in the capital. Communities secretary Eric Pickles will today outline reforms to often-ignored legislation dating back to the 1970s that forces Londoners wishing to rent [...]
Worst time for EE to tell Carphone Warehouse : We need to talk June 9, 2014 A SWORD of Damocles is suddenly hanging over the head of Carphone Warehouse. The ancient original was suspended by a single hair over a golden throne, a warning of the fragility of life at the top. Carphone Warehouse’s founder Sir Charles Dunstone, who still holds a 23.5 per cent stake, now finds himself looking up [...]
Barclays rolling out contactless payment wristband next month June 9, 2014 BARCLAYS will launch a contactless payments wristband for consumers in 2015, called bPay, with trials of the wearable technology starting at sponsored events this year. The company hopes that the device will encourage cash-free payments as consumers increasingly turn to card and contactless payments. The British Summer Time music festival in Hyde Park will be [...]