Douglas Carswell tops polls as Ukip poised to win first MP in Clacton vote October 8, 2014 Former Tory MP Douglas Carswell looks set to become Ukip’s first MP in the House of Commons today, as voters in Clacton-on-Sea, Essex, go to the polls. Carswell, who left the Conservatives in late August triggering a by-election, is expected to win the seat for Nigel Farage, delivering a heavy blow to David Cameron in [...]
EE hopes TV will spur broadband sign up growth October 8, 2014 The chief executive of Britain’s biggest mobile operator is hoping TV will unlock a new growth story for EE. Yesterday, the telecoms giant unveiled a TV offering in a move that would send a warning shot across the bows of rivals BT, Sky, TalkTalk and Virgin Media which have fought between themselves over who has [...]
Legal battle looms for ministers over EU’s Hinkley Point power plant decision October 8, 2014 Ministers could be facing a lengthy legal battle over the planned nuclear power plant at Hinkley Point in Somerset, following the European Commission’s announcement yesterday that construction could go ahead. Austria threatened earlier this week to sue the commission if it allowed the project, on the grounds that subsidies such as those awarded to Hinkley [...]
Mobile operator Three hit with £250,000 fine over complaints October 8, 2014 BRITAIN’S fourth largest mobile network, Three, has been hit with a £250,000 fine by the telecoms watchdog for failing to handle customer complaints correctly. Ofcom said Three had not handled complaints in a fair and timely manner, and left customers unaware they were able to raise their cases with an independent service. “The fine imposed [...]
FirstGroup share price falls on ScotRail contract loss – now East Coast looms October 8, 2014 Train and bus operator FirstGroup lost its 10-year contract with ScotRail north of the border yesterday, sending shares to their lowest level in over a year and piling pressure on boss Tim O’Toole. FirstGroup lost out to Abellio, which won the £2.5bn contract, a decision which the Scottish government was forced to defend yesterday [...]
Analyst Views: What does the loss of Scotrail mean for the future of Firstgroup? October 8, 2014 GERALD KHOO | LIBERUM All companies are disappointed when they fail to win a contract bid, FirstGroup especially because they ran the line so well for 10 years. They have been shortlisted for four franchises and failed to win three, so it’s all down to the last one now, which is East Coast NICOLAS ZIEGELASCH [...]
Weak Eurozone drags down UK export push October 8, 2014 Britain's resurgent economy is being slowed down by the weak Eurozone, a survey by the British Chambers of Commerce (BCC), says today. GDP was 3.2 per cent higher between April and June than it was over the same period a year before. This was the fastest annual growth of any G7 nation. However, the [...]
City A.M. shadow MPC votes 7-2 against interest rate hike October 8, 2014 Our panel of economists voted by a margin to seven to two to hold interest rates this month. The main concerns are Europe’s downturn, a lack of real wage growth in the UK and low inflation. However, a tightening labour market may signal higher inflation is round the corner, persuading some economists to [...]
Dixons Carphone expects to hit £80m cost savings faster October 8, 2014 High Street giant Dixons Carphone said yesterday it expected to reach its cost savings target earlier than previously forecast, following the £4bn merger of Dixons Retail and Carphone Warehouse two months ago. The FTSE 100 retailer said at the time of the merger it would save around £80m in annual costs from 2016–17. Speaking to [...]
Dragons Den star Peter Jones opens Jessops inside Sainsbury’s supermarkets October 8, 2014 Jessops, the camera chain brought out of administration by Dragons Den star Peter Jones last year, has opened its first store inside a Sainsbury’s supermarket. The retailer yesterday launched in Sainsbury’s superstore in Newport, South Wales, and plans to open a further two stores in Waterlooville, Hampshire, and Maidenhead, Berkshire, within months. “This is a [...]