RBS to axe 3,500 more jobs September 2, 2010 THE Royal Bank of Scotland is planning to axe 3,500 jobs from its technical and back office division. RBS has told staff that up to 12 offices could close in England, while Scotland will also be badly hit. A third of the job losses are as a result of RBS selling 318 of its branches [...]
Probe launched into energy companies’ “mis-selling” September 2, 2010 Energy regulator Ofgem is launching an investigation into whether four of the big gas and power suppliers are mis-selling products to customers. Ofgem’s probe will determine if EDF Energy, RWE Npower, Scottish and Southern Energy, and Iberdrola’s Scottish Power are complying with obligations brought in last October which were aimed at preventing households being mis-sold [...]
Construction sector growth falters September 2, 2010 Growth in the country’s construction sector slowed markedly in August led by a loss of momentum in residential construction, according to a survey. The Markit/Chartered Institute of Purchasing and Supply construction PMI slipped to 52.1 in August from 54.1 in July. That was below the consensus forecast of 53.2 and more than six points below [...]
McBride profit up despite raw materials price hike September 2, 2010 McBride, Europe’s biggest maker of retailer own-brand household and personal care goods, said it faced rising raw material costs and weak retail markets as it met forecasts with a 38 per cent rise in annual profit. However the British-based group, which warned about a tough outlook in June, said it was better placed to cope [...]
Recruiter Hays sees profit dive by 80pc September 2, 2010 Recruiter Hays posted an 80 per cent drop in full year pre-tax profit, hit by tough trading conditions in the first half. Hays, which places people in white collar jobs, said it made a pre-tax profit of £29.7m in the year to 30 June, against £151m last year. However, the company said the UK private [...]
House prices drop for second month September 2, 2010 House prices fell for the second month in a row in August, according to the Nationwide building society. Prices dropped 0.9 per cent last month, following a 0.5 per cent fall decline in July. It is the first time that prices have fallen for two consecutive months since February 2009. The average UK house price [...]
DSG on track after iPad and world cup sales boost September 2, 2010 Electricals retailer DSG International said its total group sales were up three per cent after a boost from Word Cup TV sales and the success of the iPad. In an update on trading for the 12 weeks ended 24 July the company, which owns Currys and PC World in the UK, said its online sales [...]
TV wars loom as Apple takes aim September 1, 2010 Apple last night launched a revamped on-demand TV service it hopes will help it smash into the online rental market. Apple TV allows users to rent episodes of hit US shows like Glee for as little as 99¢ (64p) and play them through their TV. The device could catapult Apple into a market currently dominated [...]
Surprise output rise aids stocks September 1, 2010 AN UNEXPECTED surge in manufacturing growth in two of the world’s largest economies yesterday soothed fears over the prospects for the global economy. The closely watched gauge of activity in US factories from the Institute for Supply Management defied expectations of a drop to jump to 56.3 last month from 55.5 in July, indicating the [...]
Blair: I freed central bank September 1, 2010 FORMER Prime Minister Tony Blair claimed it was his decision to hand independence to the Bank of England in 1997 and said he set “the broad framework of the economy” during his decade in power. The provocative remarks – made in Blair’s memoir, A Journey – are likely to stir up the Labour leadership contest. [...]