Anglo Irish is set for fresh state bailout August 10, 2010 Anglo Irish Bank won temporary clearance from the EU yesterday for a fresh bailout of up to €10bn (£8.3bn) from the Irish government, more than expected and putting further pressure on Ireland’s bulging budget deficit. Ireland’s finance ministry said underlying budget trends remained in line with its targets but it acknowledged that an aid package [...]
Unilever CEO raises stake as shares fall August 10, 2010 UNILEVER chief executive Paul Polman has increased his stake in the Anglo-Dutch consumer product firm, taking advantage of a heavy fall in the price of the shares last week. Polman has spent over €900,000 (£748,000) buying Unilever’s Amsterdam-listed shares since Friday, bringing his stake up to 84,471 shares, according to Dutch securities regulator AFM. He [...]
FSA opens compensation door to millions over PPI August 10, 2010 THE CITY regulator yesterday unveiled tough new rules on Payment Protection Insurance (PPI) complaints that could force banks to dole out as much as £2.7bn in compensation to nearly 3m people. Despite the financial services industry lobbying the Financial Services Authority (FSA) not to bring in the new sanctions to protect consumers, the regulator said [...]
Solid progress for Quintain despite property downturn August 10, 2010 PROPERTY group Quintain yesterday said its strategic business plan is well underway after it achieved two of the milestones it set itself in June and added a chunk to its annualised income in the first quarter of the year. The group said it had added £3.5m to its annualised income since the end of the [...]
Boris says government must not cut spending on employment August 10, 2010 MAYOR of London Boris Johnson has warned the government not to cut vital funding that will boost employment in the capital. The plea came ahead of unemployment figures due this morning that will show one in three working-age Londoners do not have a job. Johnson is calling for funding to be maintained for the London [...]
YouGov expands further into US with purchase of research rival August 10, 2010 MARKET research firm YouGov has doubled the scale of its US business with the $6m (£3.8m) purchase of one of its Stateside rivals. The acquisition of Connecticut-based Harrison Group, for an initial consideration of $6m, will be funded from existing cash resources. The deal includes provisions for further amounts, estimated at $7m, subject to performance [...]
BAA boost as Heathrow has record month August 10, 2010 THE number of people travelling through BAA’s UK airports increased by 0.3 per cent to 10.9m in July. Heathrow recorded its busiest-ever month, with 6.7m people making journeys through the airport – 3.5 per cent more than last year. Sunday 18 July was Heathrow’s busiest-ever day, with 232,000 people passing through the airport. Across BAA, [...]
Aerospace firms bounce back as orders come in August 10, 2010 THE aerospace industry is bouncing back after a tough period following the recession, according to a report published today. The report, compiled by the Aerospace, Defence and Security trade organisation, shows that revenues for the UK aerospace industry swelled 5.4 per cent in 2009 to a combined £22.2bn. It comes after last month’s encouraging Farnborough [...]
Rise in house prices grinds to sharp halt August 10, 2010 THERE was further proof that the property market is cooling down yesterday, after government figures showed house prices were flat on the month in June. Figures from the Department for Communities and Local Government (DCLG) showed that seasonally adjusted average prices were unchanged across the UK in June. That cut the annual rate of increase [...]
British exports are recovering August 10, 2010 BRITAIN’S trade gap narrowed in June as exports recovered, but economists warned overseas demand would not offset the flagging economy at home. Exports increased at four times the pace of imports in June, narrowing the trade in goods deficit from £8bn in May to a lower-than-expected £7.4bn, the Office for National Statistics said. The overall [...]