UK’s trade deficit widens more than expected March 14, 2014 The UK’s trade deficit increased in January to £2.6bn. A revised number for December showed the smaller figure of £0.7bn. UK Trade shows the extent of import and export activity and is a key contributor to the overall economic growth in the UK. The data, says Capital Economics, continues the run of disappointing news on [...]
Boohoo bounces onto Aim as shares hit 85p March 14, 2014 It's the first day of trading for online fashion retailer Boohoo.com, and shared are surging. Making its debut on London's Aim, shares opened at 85p – well above the offer price of 50p. Shares are currently trading around 78p. The firm raised £300m through its initial public offering, and is the third UK retailer to [...]
The government’s wasting £50m a year on technology that doesn’t work March 14, 2014 The founder of electronic tagging company Buddi, Sara Murray, has said this morning that the government’s "wasting £50m a year by buying old technology from Serco and G4S that doesn't work." Her words follow those of Margaret Hodge, chairman of the Public Accounts Committee, who said the government “urgently needs to get its house in [...]
JD Wetherspoon boss launches another attack on VAT March 14, 2014 The chief executive of high street pub chain JD Wetherspoon has again condemned the tax advantages supermarkets get over pubs. In a statement as part of the company’s interim financial results, Tim Martin said: The biggest danger to the pub industry is the continuing tax disparity between supermarkets and pubs. Thanks mainly to the work [...]
What you need to know before the open March 14, 2014 Talks between US and Russia will be taking place in London today, ahead of the much-contended referendum in Crimea on Sunday. Concerns over the fortunes and future of the region continue to eat into investor confidence, with European markets expected lower across the board today. Asian markets suffered in Friday trading from the anxiety-induced risk [...]
Tony Benn passes away aged 88 March 14, 2014 Tony Benn, the veteran left-wing politican, has passed away at the age of 88, his family have said. They've issued a statement this morning, confirming Benn died peacefully early this morning at his home in west London, surrounded by his family. Thanking the NHS staff and carers who have looked after him, they said: We [...]
Ukraine and China fears drag down Asian markets March 14, 2014 The Nikkei has hit a one-month low in Friday trading, sliding 3.3 per cent, as concerns over Chinese growth and the situation in Ukraine continue to weigh heavy on investors’ minds. There’s little to add in the way of comforting economic data, and the slowdown in the world second-largest economy and growing tensions over Ukraine [...]
Bank bonuses to face fresh curbs March 13, 2014 BANK bonuses could become a thing of the past as a result of a series of aggressive new rules which would see financiers forced to wait 16 years before they can fully enjoy their pay. The Bank of England’s prudential regulation authority (PRA) yesterday revealed plans which threaten to claw back bonuses up to six years [...]
Morrisons’ woes wipe £2.6bn off supermarkets March 13, 2014 FEARS of a new supermarket price war wiped around £2.6bn off the combined value of Britain’s major grocers yesterday after Morrisons launched a major assault on its discount rivals. Shares in Morrisons plunged 12 per cent – to their lowest level since 2008 – after it revealed it would invest £1bn in slashing prices over [...]
London house prices pull further ahead of regions March 13, 2014 HOUSE prices in the City soared by more than any other London borough, while the capital’s market continued to blast ahead of the rest of the UK, new figures showed yesterday. It came as mortgage lending shot up by more than a third in the last year, led by high loan-to-value mortgages. London prices increased [...]