What you need to know before the open – 28/10 October 28, 2013 European markets look set for a marginally upbeat open this morning after a positive finish in the US on Friday. Traders may well be somewhat windswept in London this morning, though, as St Jude hits the UK. Markets due for a stronger open FTSE +25. Not quite so positive for Greater Anglia who have cancelled [...]
Nuclear deal to cost £1bn a year October 27, 2013 EXPERTS have warned that consumers could be faced with an annual bill of £1bn to subsidise Hinkley nuclear plant if wholesale electricity prices fall below the price the government has guaranteed EDF. The UK government and the French energy firm yesterday unveiled the terms of a long-awaited deal to build Hinkley Point C in Somerset, [...]
You can now film your local council meetings October 25, 2013 Local government secretary Eric Pickles announced today that a new law is going to allow people to film and tweet from local council meetings. The law will go before parliament, and will give the press and public new rights to film and report council meetings – it'll enshrine in law the right of residents, bloggers [...]
US consumer confidence dwindles to lowest level in almost a year following shutdown October 25, 2013 US consumer confidence slid in October, to its lowest level since the end of last year (December 2012), on the back of the government shutdown. The Reuters/Michigan consumer sentiment index fell to 73.2, following expectations it would fall from September's reading of 77.5 to 75.0.
Ryanair to slash charges and allow extra baggage in customer service revolution October 25, 2013 Low cost airline Ryanair appears to be making good on its promise for a customer service revolution. On Friday Ryanair announced it would be cutting charges and allowing extra baggage on flights, in order to address customer concerns over poor service. Ryanair will allow passengers to bring a second piece of hand luggage onto its [...]
Iain Duncan Smith’s disability reforms delayed as system buckles under pressure October 25, 2013 Iain Duncan Smith's flagship disability benefits reforms will now be implemented at a much slower pace because the reassessment system is struggling to cope with the strain placed on it by a test group of claimants, City A.M. has learned. The decision has been made just days before tens of thousands of people were due [...]
US durable goods orders beat expectations bolstered by aircraft October 25, 2013 US durable goods orders climbed 3.7 per cent in September, exceeding expectations of a 2.0 per cent rise and following August's marginal 0.1 per cent rise. Excluding transportation, though, orders saw a 0.1 per cent fall, missing expectations of a 0.5 per cent rise. Paul Ashworth, chief US economist at Capital Economics points out that the [...]
Serco boss quits following scandal over government contracts October 25, 2013 Serco Group has today announced its chief executive Christopher Hyman has resigned, in a bid to restore the company's reputation, following an overcharging scandal. Back in July, the government services firm was shaken by allegations of fraud, after justice secretary Chris Grayling accused it of overcharging on contracts to tag criminals. The company reports [...]
Government launches franchising process of East Coast Mainline October 25, 2013 On Friday the government launched the franchising process for the East Coast Main Line. Financial information about the line has now been released and the criteria for interested parties, as well as risks associated with the line, which was nationalised in 2009 due to financial problems. It will be returned to the private sector by [...]
Grangemouth will reopen but jobs are not guaranteed says Ineos October 25, 2013 Ineos has confirmed a deal to reopen the Grangemouth plant after £300m required to keep it open is secured. Calum MacLean, the chairman of Grangemouth Petrochemicals has said that both the petrochemicals plant and refinery will reopen, after a last minute deal was reached with the Unite union. The news, MacLean says, comes as [...]