Tie Rack set to shut UK shops by end of year November 19, 2013 Tie Rack's UK presence is to be wound up. The owners of the high street name will begin closing the chain's 44 UK stores on Wednesday, reports Mark Kleinman, City editor at Sky News. The closures could threaten up to 200 jobs. Sky News' sources said that a closing-down sale is expected to start on [...]
Walmart offers $98 flat-screen TV in bid to lure holiday shoppers November 19, 2013 As competition heats up in the US retail sector in the run up to the holidays, Walmart is seeking to entice shoppers with a 32-inch flat-screen TV for only $98 (£61). The world's second largest corporation has also promised to match its competitors' best Black Friday deals a week early. Duncan Mac Naughton, chief merchandising [...]
Investment guru Icahn says it’s impossible to predict short term market moves November 19, 2013 After prompting a sell off in global equities, activist investor Carl Icahn has posted comments on his own website, Shareholder Square Table, in order to clarify remarks he made yesterday. At the Reuters Global Investment Outlook Summit, Icahn told attendees that he is "very cautious" on stocks, and that he could see a "big drop" [...]
FCA proclaims position at heart of global markets regulation November 19, 2013 The Financial Conduct Authority (FCA) has said today that it intends to "reflect on and embrace" the international nature of markets, and of its approach. Chief executive Martin Wheatley says the FCA continues paving the way to a regulatory environment that "increasingly focuses on culture and conduct", as part of a "new regulatory landscape". Speaking [...]
Tagging fiasco sees G4S credit UK £24m November 19, 2013 G4S has issued an update this morning on the scandal over its electronic tagging of prisoners. The Ministry of Justice's (MoJ) investigation into whether the outsourcing company overcharged the government for its electronic monitoring (EM) services between 2005 and 2013 is ongoing. (Release) The firm said that an internal review currently being conducted by Linklaters [...]
Germany’s growth continues but pace of acceleration could be faster November 19, 2013 Germany's Zew Survey for November suggests that the Eurozone's biggest economy has continued to grow in the fourth quarter, albeit at a rather modest pace. The index rose to 54.6, its highest in four years, marginally above expectations and from October's 52.8. In the past, says Capital Economics' Jonathan Loynes, "such readings have been associated [...]
European car sales boosted by Spanish subsidies November 19, 2013 European car sales have risen for two consecutive months, according to the European Automobile Manufacturers' Association (ACEA). This marks the first time since 2011 where new car sales have risen two months in a row. Sales were boosted by a Spanish government scheme to incentivise automobile purchases. The scheme, which was renewed on 25 October, [...]
Media studies graduates highest employed after those with medicine degrees November 19, 2013 Graduates with an undergraduate degree in media and information studies have the second highest employment rate but the lowest average wage, says the Office for National Statistics (ONS). But, their average gross annual wage was £25,000 below that of a medicine or dentistry graduate, who have the highest employment rate. (ONS) The report, Graduates in [...]
Co-op chair Len Wardle resigns amid bank chaos November 19, 2013 Co-operative chair Len Wardle has announced that he will be resigning with immediate effect. Wardle had planned to retire next year, in May. He will be replaced by Ursula Lidbetter, who is currently group deputy chair and chief executive of the Lincolnshire Co-operative Society. The past week has seen former Co-op bank chairman Reverend Paul [...]
Several airlines to sell stakes in Airline Group to Universities Superannuation Scheme November 19, 2013 Thomas Cook has said this morning that it too will be selling the majority of its shareholding in The Airline Group, for £38m, to UK pension scheme Universities Superannuation Scheme (USS). The news follows the announcement that Tui Travel is to sell its majority share for the same cash consideration to USS. Deutsche Lufthansa AG [...]