Grocery sector can save 1bn October 7, 2009 The UK grocery sector could save at least £1bn over the next five years by improving the quality of product information shared between retailers and suppliers, according to a new report. The estimated opportunity for the industry to realise over £700m in savings was found to fall into two main areas: avoiding shrinkage and eliminating [...]
Rich travellers don’t cut back October 7, 2009 Luxury holidaymakers have refused to cut back on trips abroad, according to the latest study by business advisers PricewaterhouseCoopers. In a survey of 700 luxury club members, only 18 per cent said they would cut back on holidays. Consumers are spending more time finding the right holiday deal as they attempt to “buy clever” during [...]
LSE battle for market share gets tougher October 7, 2009 LONDON Stock Exchange chief executive Xavier Rolet is facing a tough battle to end the year ahead, as upstart rivals continue to gnaw away at the institution’s market share. The LSE’s share of London trading volume stood at 64 per cent yesterday, recovering from the previous day’s all time low of 60 per cent, but [...]
Retail investors boost private client stockbrokers October 7, 2009 THE surge of retail investors rushing back to equities in recent months has become a flood since London’s benchmark FTSE 100 index broke through the psychologically important 5,000 mark on 9 September. This represents a massive opportunity for private client stockbrokers, many of which have seen a boost to both client numbers and to the [...]
Page hit by 36m VAT repayment October 7, 2009 MICHAEL Page said yesterday it has been hit with a £37.4m bill from the Inland Revenue, which the taxman had originally handed over to the firm as a part settlement of an alleged overpaid VAT bill. The firm, which had £138m in net cash at the end of September, said it would appeal against the [...]
Magna, GM and unions meet in a move to save UK jobs at Vauxhall car plants October 7, 2009 BUSINESS minister Pat McFadden and bosses at Unite union last night met with Magna International, the new owner of Vauxhall, in the latest move to save British jobs. The news comes as Germany looks set to consult British officials as early as next week on Magna’s takeover of General Motor’s (GM) European unit, which is [...]
New cars to have digital radio installed from 2014 October 7, 2009 CAR makers have agreed to make digital radios standard in cars from the start of 2014, following the Digital Britain White Paper in June which anticipates FM stations being switched off after 2015. “We’re really encouraged that both industries are positive. It will be a big logistical challenge but we have finally take the first [...]
PLATFORM CHANGES October 7, 2009 PLATFORM 9 Jan 13 Mar 12 Jun 11 Sep 7 OctLSE 82% 79% 72% 68% 64%Chi-X 11% 14% 17% 19% 22%Turquoise 6% 5% 6% [...]
TORIES MULL TAX ON BAILED-OUT BANKS October 7, 2009 A TORY government would consider a “windfall” tax on UK banks that have received state support, in an apparent sign of shadow chancellor George Osborne’s willingness to play hardball with the City. One possibility for the tax, currently being discussed at the highest levels within the party, would take the shape of a new accounting [...]
Lloyds plans a 12.5bn share issue October 7, 2009 LLOYDS Banking Group will turn to traditional investors rather than a sovereign wealth fund to help it raise up to £25bn to exit the government’s Asset Protection Scheme (APS), City A.M. can reveal. Sources familiar with the bank’s plans said last night that it had submitted a proposal to the Financial Services Authority (FSA) that [...]