Supermarkets score for both value and reputation December 15, 2009 In the highly-competitive world of supermarkets, there are two basic types of brand: those which are “cheap and cheerful”, which focus on low cost while maintaining reasonable quality; and those which cost more but make a feature of the higher quality products. These show up very clearly in the respective average BrandIndex scores from the [...]
Airlines set to incur far higher losses next year December 15, 2009 AIRLINE losses caused by the recession will be 47 per cent higher next year than the $3.8bn (£2.3bn) previously forecast by the industry, although passenger numbers are likely to be better than thought. Carriers will rack up a total shortfall of $5.6bn in 2010, down from the $11bn loss expected in 2009, a revised forecast [...]
CITY MOVES | WHO’S SWITCHING JOBS December 15, 2009 PricewaterhouseCoopers The accountancy giant has hired three partners to its financial services consulting practice. Kevin Burrowes, pictured, rejoins the firm from Credit Suisse, where he was head of finance for the EMEA region. Steve Davies returns to the UK after ten years at PwC in the US, while Wolfgang Rieder rejoins from Bank Vontobel, where [...]
BARROW-BOY BROKERS CONSIDER THEIR CHANCES IN SLEEPY ZURICH December 15, 2009 EVER since inter-dealer broker Tullett Prebon revealed on Monday it would allow its staff to relocate to more favourable tax regimes if they wish to avoid the government’s crackdown, the City has been a hotbed of gossip about whether or not the move will indeed spark a much-feared exodus of talent from our shores. Inside [...]
CITY A.M. TOASTS A NEW ERA IN ALLIANCE WITH INTERACTIVE INVESTOR December 14, 2009 IT WAS off to the iconic Gherkin building last night for one of the most exciting developments in the history of City A.M. – our newly-announced alliance with online financial services provider Interactive Investor. Guests at the party sipped champagne as they admired the view over the City, chatting about the partnership, under which we [...]
LLOYDS POISED TO PAY £100M IN BONUS TAX December 14, 2009 LLOYDS Banking Group, which yesterday successfully completed a record-breaking £13.5bn rights issue, is preparing to pay out its bonus pool in full. The move, which follows mounting anger in the City over the government’s super-tax, will see the firm having to hand over an estimated £100m in payments to the Treasury as part of the [...]
FIRST TULLETT – NOW US BANKS MULL EXIT December 14, 2009 WALL STREET banks are seriously considering relocating many of their European bankers out of London following the bonus super-tax, sources have told City A.M. The industry has been working closely with its US-based lobby group, the Securities Industry and Financial Markets Association (SIFMA), to decide whether to relocate some Europe, Middle East and Africa (EMEA) [...]
NEWS | IN BRIEF December 14, 2009 Google to pair phone with T-Mobile Google plans to sell two versions of its own-branded mobile phone: one with a service contract with T-Mobile USA and another that is unlocked, a source familiar with the matter said last night. The phone, manufactured by HTC, has a number of code names such as HTC Passion, Dream [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 14, 2009 FINANCIAL TIMES COUNCILS THREATEN ICELAND BANK ACTION Council leaders have threatened to launch legal proceedings against a failed Icelandic bank which they fear will not repay £150m in deposits made by local authorities before the credit crunch. British councils had £900m of deposits in Iceland when a trio of its banks collapsed. So far barely [...]
BA in winter of discontent December 14, 2009 BRITISH AIRWAYS (BA) is facing hundreds of thousands of pounds of losses after its cabin crew voted overwhelmingly in favour of a 12-day strike, threatening to paralyse the airline over the peak Christmas and New Year period. A bitter row over jobs, pay and working conditions escalated yesterday, when more than 12,000 BA members of [...]