UK retail sales increase at strongest rate since February 2010 in December January 17, 2014 Christmas was a pretty mixed bag for some retailers, but figures from the Office for National Statistics suggest that the squeeze on consumers is easing, and they were able to make the most of bargain and discount shopping. December retail sales jumped 5.3 per cent from a year earlier, up 2.6 per cent in the [...]
Regulator furthers probe into RBS January 17, 2014 An update on the Financial Conduct Authority's investigation into RBS. The City regulator has said this morning that it's appointed global consulting firm Promontory Financial Group and financial advisory company Mazars to conduct a report into RBS' treatment of struggling customers. It'll also look at the claims made in the reports by Dr Lawrence Tomlinson [...]
Cut taxes to save bingo say MPs January 17, 2014 The Bingo Association says that taxes on the game are excessive compared to competitors in the gambling industry and are contributing to the rapid decline of bingo clubs. Profits from bingo halls are taxed at 20 per cent, five percentage points more than bookmakers and eight percentage points more than lottery tickets. A cross party [...]
Shell issues warning of “significantly” lower profits January 17, 2014 Royal Dutch Shell was trading four per cent lower this morning following the announcement that the company could see significantly lower profits than recent levels, due to falling oil prices and the rising costs of exploration. Fourth quarter adjusted earnings in the period on a current cost of supply basis would be $2.9bn (£1.3bn). Ishaq [...]
Nintendo slashes dividend forecast on expected full year loss January 17, 2014 Christmas shoppers did little to revive the languishing sales of Nintendo's Wii U. Lower-than-expected console and games sales brought a very disappointing Christmas for the world's largest video-game machine maker, which has cut its forecast for the financial year to a net loss of 25bn yen (£147m). The company had been expecting full-year net profit [...]
What you need to know before the open – 17/01 January 17, 2014 European markets are set to move higher today after marginal gains in US equity futures and Asian stocks. We've got UK retail sales for December this morning, which'll reveal more about shopping over Christmas. And in Asia, the Nikkei dropped in trading today, after US corporate earnings damaged investor sentiment. ETX Capital #MorningCall FTSE [...]
Online betting pays out for William Hill January 17, 2014 Bookmaker William Hill reported strong growth with sports betting and sportsbook leading the way, in its trading statement for the 13 weeks from 2 October to 31 December. Online net revenue increased by 14 per cent, benefitting from improvements to mobile gaming. Ralph Topping, chief executive of William Hill, commented: Q4 proved a strong end [...]
Technology and the minimum wage: A big rise could harm the lowest skilled January 17, 2014 POLITICIANS of all parties, including Treasury minister Sajid Javid, have stated that there’s a strong case for a significant increase in the minimum wage. Their arguments were perhaps best summarised in a blog by Paul Kirby, the former head of the Number 10 Policy Unit. His economic case for a big rise is based on [...]
France has ignored consumers and the digital economy is bearing the brunt January 17, 2014 PRESIDENT Francois Hollande would like us to think that France is about to bounce back. At a press conference yesterday, he detailed plans for a “responsibility pact” with business – a deal to reduce the burden of social levies on companies by €30bn (£24bn) by 2017, in return for businesses pledging to increase hiring and [...]
The rise of the London Village January 16, 2014 IT SEEMS these days everyone wants their slice of village life, even if they live and work in the heart of the city. The Big Smoke has always been made up of distinct neighbourhoods with their own character and lifestyle, but the idea of the London Village has really taken hold in the public imagination [...]