London is too taxed October 24, 2005 The government is imposing an onerous and discriminatory system on taxpayers in London, according to a recent survey. The survey by Williams de Broe into regional disparities in the cost of living has found that the starting point for income tax in London should be £1,550 higher than in the country’s poorest region, Northern Ireland, [...]
Whitbread wields axe as speculators circle October 24, 2005 Whitbread is expected to reveal plans to axe a quarter of its head office work force tomorrow. As he reports disappointing interim figures on Tuesday, chief executive Alan Parker is expected to confirm that up to 250 jobs will go at the leisure group’s Luton headquarters. Parker is fighting to keep the disparate business together. [...]
House prices slip again October 24, 2005 House prices have fallen for the 16th consecutive month according to the Hometrack October survey. This pours cold water on recent claims that the market is picking up. Hometrack says that the average house price has fallen by 3.5 per cent to £160,000 over the past 12 months from a peak of £167,000 in June [...]
Ericsson takes on Alcatel in battle for Marconi October 24, 2005 Swedish telecoms equipment giant Ericsson and France’s Alcatel are neck and neck in the final stage of a contest to buy Marconi, according to sources close to both companies. Final bids for Marconi are due tomorrow morning and a winner could be announced as early as the afternoon. Britain’s last remaining telecoms equipment maker has [...]
A question of success October 21, 2005 After often being called in the early hours of the morning by her boss to locate information fast, Sarah McVittie realised she could make a living providing answers via text messaging. The meaning of life and a FTSE 100 share price are just a couple of questions the founders of 82ASK can answer in a [...]
The new drug habits October 21, 2005 Pharmaceutical companies are increasingly turning to biotechnology ventures to help them rescue their flagging profits. Investors are looking at biotechnology companies to reinvigorate a moribund drug industry in a way the big pharmaceutical giants have failed to do over the last two years. Observers say companies such as America’s Pfizer or Britain’s GlaxoSmithKline, known as [...]
Record profit warnings October 21, 2005 The number of British companies issuing profit warnings in September surged to a four-year record due to difficult market and trading conditions. According to research by Ernst & Young, 103 firms listed on the London Stock Exchange issued a warning in the three months to 30 September. This represents a rise of 39 per cent [...]
It’s Ken Again October 21, 2005 He is 74 but Ken Morrison is in no mood to slow down and take it easy. During the span of a career in the City a businessman usually plays the role of hero and villain. Sir Ken Morrison was typecast as the former until he acquired Safeway a year ago. In 2001 when it [...]
BHP to boost production October 21, 2005 BHP Billiton, the world’s largest mining company, will invest $1.3bn (£735m) to boost iron-ore production in western Australia in the face of rising demand by Asian markets led by China. The move comes just 24 hours after Rio Tinto said it would also commit $1.35bn to increase the iron-ore production of its mines in western [...]
Nestle sales hit £29.6bn October 21, 2005 Nestle, the world’s largest food manufacturer, has romped to better than expected sales this year. The company, which produces Nescafe and Kit Kat, said yesterday its sales were 5.8 per cent higher for the first nine months. Switzerland-based Nestle also reaffirmed its targets of 5-6 per cent organic growth for the full year as the [...]