EE reveals 4G signups have overtaken 3G May 21, 2014 Mobile operator EE has signed up 3.6m 4G customers and today said sign ups of its 4G plans have overtaken those of 3G plans for the first time. Chief executive Olaf Swantee marked the occasion by launching a range low cost 4G devices, all named after British birds, that will join its budget £99 Kestrel [...]
The stiff competition facing Royal Mail May 21, 2014 Ahead of its first set of full-year results as a listed company tomorrow, Royal Mail’s announced it’s going to trial delivering parcels on Sundays. Later this summer, it’ll open about 100 offices on Sunday afternoons for customers to pick up parcels. It’ll also pilot delivering parcels within the M25; and from June, Parcelforce Worldwide, its [...]
FCA succeeds in overturning landmark fraud case ruling May 21, 2014 The Court of Appeal has quashed a decision to halt a landmark fraud trial because of lack of legal aid barristers to represent the defendants. The prosecution of the three men was stopped after Alex Cameron QC, brother of the prime minister, argued they wouldn’t get a fair trial as they were not sufficiently represented. [...]
EU moves to scrap “best before labels” from food packaging May 21, 2014 The "best-before" label may soon be removed from a host of products in a new drive to tackle food waste from the European Union. The European Commission is set to propose a bill next month removing the label from coffee, rice, dry pasta, hard cheeses, jams and pickles. Abandoning the labels could prevent as much [...]
BoE minutes reveal rate hike debates at Threadneedle Street May 21, 2014 The minutes of the Monetary Policy Committee's meeting of 7-8 May reveal that its members voted 9-0 for no change in policy, electing to hold interest rates at their historic lows and maintaining QE at £375bn. Analysts had widely expected to see that the MPC had showed unanimity for unchanged policy at its latest meeting. [...]
Retail sales rebound to fastest growth in a decade on strong Easter shopping May 21, 2014 Retail sales growth has shot up on the back of strong Easter trading. According to official estimates, retail sales were 6.9 per cent higher in the year to April, up from last's month reading of 4.2 per cent growth. That's the strongest growth in sales seen since almost 10 years ago, in May 2004. Consensus [...]
Carpetright in the red as Lord Harris takes his leave May 21, 2014 Shares in Carpetright fell over three per cent this morning, after the listed company announced the end of an era this morning. Both Lord Philip Harris and his son, Martin Harris, will be leaving the company, with Wilf Walsh named as the new chief executive. The executive chairman will retire in September, while his son [...]
What you need to know before the open May 21, 2014 A lower open for European markets this morning, with stocks expected to fall further from highs recently seen, following US and Asian counterparts. We've got central bank minutes out later today from both the Bank of England and Fed. Corporate news SSE’s reported a 9.6 per cent rise in profit before tax, to £1.55bn, despite [...]
Burberry eyes Japan as EasyJet chief joins board May 21, 2014 Fashion house Burberry has reported record sales and profit for 2013/14. Reported pre-tax profit leapt 27 per cent to £444m, with revenue up 17 per cent to £2.3bn. Adjusted profit before tax rose eight per cent to £461m, ahead of estimates. Further investment in Japan, enhanced beauty infrastructure and a smooth management transition – with [...]
SSE profits surge despite price rises May 21, 2014 Energy giant SSE has reported a rise in profit before tax of 9.6 per cent to £1.55bn for the year ended 31 March, despite having raised customers' bills by 8.2 per cent during the period. Analysts predicted a nine per cent rise in profits for the last fiscal year. The company also decided to hike [...]