Virgin Money to boost bonuses March 3, 2014 VIRGIN Money is this week set to approve banking bonuses of up to 200 per cent of executive’s salaries. Sir Richard Branson’s banking arm will reveal investor approval for the move at tomorrow’s full-year results, according to Sky News. The bonus decision comes as new European rules demand there should be a 100 per cent [...]
Labour: free coffee to stay March 3, 2014 A LABOUR MP who called on his colleagues to press supermarket chain Waitrose into withdrawing its free coffee and newspaper deal for loyalty card holders has received short shrift from his own party. Andy Sawford accused the firm of taking business away from independent shops, but a Labour spokesperson put an end to the budding [...]
Retailers point to impact of flooding on February sales March 2, 2014 POOR retail sales in February were down to bad weather and fewer stores discounting products, according to BDO. The firm’s high street sales tracker, which follows like-for-like performance among mid-market British stores, showed sales down by 0.9 per cent in comparison to the same month last year. BDO suggested that flooding in the UK affected [...]
Strada owner losing money March 2, 2014 STRADA, Cafe Rouge and Bella Italia owner Tragus fell to a heavier loss last year after highlighting challenging economic conditions and higher costs. Pre-tax losses for the year ending June 2013 rose to £36.1m from £18.4m in the previous year, according to annual accounts. Tragus, which is owned by US private equity firm Blackstone, was [...]
Marco Pierre White stirs up restaurant deal March 2, 2014 MARCO Pierre White, the chef behind ITV’s television series Hell’s Kitchen, has struck a franchise deal with hotel group Sanguine Hospitality to open 50 UK restaurants over the next five years, known as Marco Pierre White Steakhouse Bar & Grill and Marco’s New York Italian.
Barclays brokers leapfrog over Citi March 2, 2014 BARCLAYS overtook rival Citigroup in the FTSE 100 broker rankings for the first time last quarter after winning a contract to be broker for catering giant Compass Group. The bank’s corporate brokers were appointed to work with the catering company last month, helping take its tally of FTSE 100 customers to 17 from 16. The [...]
RBS fears bank ring-fence could slow down its recovery March 2, 2014 THE INCOMING bank ring-fence to split investment and retail banking activities could hurt RBS’ customers, the lender warned in its full-year results. RBS’ management last week set out plans to restructure the bank and get it back to profit. But it also set out risks to that programme, including the sustained wave of regulation. “Certain [...]
Finance class set to be flop March 2, 2014 NEW financial education classes risk failure because the curriculum is too crowded, a financial education group has claimed today. The lessons will run in maths and citizenship classes, but Ifs University College suggests it should be taught as a standalone subject. “The curricula in both of these subjects are very crowded which raises questions as [...]
Flood of flotations drives City hiring March 2, 2014 The recovery is creating a jobs boom in the City, recruiters Astbury Marsden said today, with another surge on its way as more businesses float on the stock market. It recorded 3,220 new jobs in January, up 25 per cent on the year. “The confident mood is underlined by the fact that the banks have [...]
Sector-wide insurance apprenticeship March 2, 2014 Aon insurance has joined with partners from across the insurance and risk management industry to launch the first sector-wide apprenticeships programme. The new scheme, announced at the beginning of National Apprenticeships Week today, is being launched by minister of state for skills and enterprise Matthew Hancock and Manchester United legend Sir Bobby Charlton, who was [...]