Chart-toppers Apple such a hit October 20, 2014 APPLE beat both analyst and company expectations as “off the charts” iPhone demand lead to bumper profits and revenues. Chief executive Tim Cook also said that 2014 was “one for the record books” after last nights release of earnings results for the three months to October. The company posted quarterly net profit of $8.5bn – an increase [...]
Bank of England’s Sir Jon Cunliffe tells banks to cut back pay permanently October 20, 2014 Banks will be less profitable for the foreseeable future, but have so far failed to cut back pay and bonuses to match, Bank of England deputy governor Sir Jon Cunliffe said yesterday. As governments stop propping up banks, they must pay more for funding, pushing up costs. And at the same time they are being [...]
Sir Richard Lambert’s banking reforms come in midst of a huge shake-up October 20, 2014 Sir Richard Lambert’s plans to improve banks’ behaviour are only the latest in a long series of proposals – and the tide is continuing, with some banks expecting his ideas to be replaced with new rules in the coming months. The first phase of the financial crisis was focused on the stability of the financial sector. [...]
PM talks tough on EU as Clegg pledges reform October 20, 2014 DAVID Cameron has defended his plan to curb the number of EU migrants coming to the UK, following heavy criticism from outgoing European Commission president Jose Manuel Barroso and a strong warning from Cameron’s coalition partner Nick Clegg. Speaking at a Ford factory yesterday, Cameron said he would answer only to the British people, who [...]
Greene King’s £723m gets it into the Spirit October 20, 2014 BREWING giant Greene King has raised its bid for pub chain Spirit Pubs after its previous offer was rebuffed. Spirit said its board is likely to recommend Greene King’s higher £723.3m bid, which values Spirit at 109.5p per share – a 20 per cent premium to the stock’s closing price on Friday. “The board of Spirit [...]
Homeowners in property worth over £3m to be hit with £10k mansion tax October 20, 2014 Labour would tax homeowners in properties worth above £3m over £10,000 on average per year, in some cases much more, according to research by the Institute for Fiscal Studies. Under the party’s mansion tax proposals, those in homes worth between £2m to £3m would pay £3000 per year, but those in properties worth over £3m [...]
Gonzalo to blast rush hour and hit flights October 20, 2014 Gusts of up to 70mph are predicted to hit Britain today as the last of Hurricane Gonzalo sweeps through. The Met Office issued a gale warning, as the winds hit Blackpool (above), predicting difficult conditions during today’s morning rush hour and damage to trees. It may be very disruptive and several of today’s British Airways [...]
New West Ham stadium roof problems may have forced Balfour Beatty to seek more cash October 20, 2014 Problems with the new roof planned for the West Ham stadium may have led beleaguered construction company Balfour Beatty back to the London Legacy Development Corporation (LLDC) to ask for extra cash. A spokesman for LLDC, which was established in 2012 by the Greater London Authority to regenerate the area in and around the Olympic [...]
Primark strikes deal with Sears to open seven stores in the US October 20, 2014 PRIMARK has struck a deal to open seven stores in the US, including its first in New York, through a leasing deal with retailer Sears. The value retailer revealed yesterday it has agreed to take around 520,000 square feet of unwanted retail space from Sears in shopping malls in the north east of the US. [...]
Former JJB chief will not testify at trial October 20, 2014 Former chief executive of JJB Sports, Christopher Ronnie, 52, accused of a £1m fraud, will not give evidence in his own defence. He was expected to testify yesterday at Southwark Crown Court. He denies three counts of fraud and two of furnishing false information. Ronnie, from Wilmslow, Cheshire, is accused of receiving three payments from [...]