UK leads the way in 2013 car sales as EU sees strong demand October 16, 2013 Demand for new cars in the EU-27 surged to 5.4 per cent in September, to 1.19 million vehicles, from the record low volumes seen in September 2012. This was led by Spanish growth of 28.5 per cent and 12.1 per cent in the UK (403,000 vehicles) reports the European Automobile Manufacturers' Association, ACEA. September's gain [...]
Water regulator blocks eight per cent price rise October 16, 2013 Water regulator Ofwat will block an eight per cent rise by Thames Water, according to it's draft decision published on Wednesday. The regulator is responsible for setting prices for the water companies every five years and would only allow an above inflation price rise of 1.4 per cent for 2014/15. The price increase will come [...]
Royal Mail staff to strike on 4 November October 16, 2013 Royal Mail staff will strike on 4 November after the Communication Workers Union's (CWU) ballot of around 115,000 members returned a 4-1 decision in favour of industrial action, it has been announced. In the midst of controversy around its sell-off, the CWU, the main postal union, balloted around its members for industrial action on privatisation, [...]
Financial services complaints fall by 500,000 in six months as Barclays receives over 370,000 October 16, 2013 Consumer complaints to the financial conduct authority (FCA) have dropped by 500,000 between the second half of 2012 and the first half of 2013. Ian McConnell, financial services partner at PwC, says that the fall is "encouraging" and shows "that the issues faced by the financial services industry are being dealt with." McConnell says the [...]
France heralds new era of tobacconist banking October 16, 2013 France's vast network of tobacconists will now be able to offer something more than a packet of cigarettes and a metro card. French company, Nickel, will be offering retail banking services through the country's tobacconists. The Nickel account will offer customers a debit card and a current account for €20 (£16.91). At a time of [...]
UK overtakes Estonia with highest EU inflation in September October 16, 2013 Eurozone inflation increased in September as the consumer price index rose to 0.5 per cent from August's 0.1 per cent, in line with expectations. Year-on-year, September saw an expected 1.1 per cent rise – broadly stable after August 2012 to August 2013's 1.3 per cent increase and the lowest level since February 2010. (Eurostat) In [...]
Claimant count sees biggest fall since June 1997 as unemployment rate stays flat October 16, 2013 Unemployment is unchanged in the UK – now at 7.7 per cent in the three months to August. Last month the figure was at 7.7 per cent, and economists had forecast no change. The number unemployed fell by 18,000 to 2.48m, but that wasn't enough to affect the headline rate. Employment rose by 155,000 to [...]
Miner Hochschild announces it’s on track for 2013 silver target October 16, 2013 Mining firm Hochschild has reported a solid third quarter and said that it was on track to achieve its 2013 20.0m ounces silver target. (Release) Production in the period was good for the company, with attributable production of 5.4m silver equivalent ounces. Hochschild also got approval for its Inmaculada mill construction permit from the Peruvian [...]
Investors hope 11th hour deal will prevent US default October 16, 2013 As the United States faces a default scenario if a deal is not agreed today, many now expect a sovereign debt downgrade as Fitch has put the country's current AAA rating on negative watch. Investors are hoping that there will be an 11th hour deal, as there was before the fiscal cliff in 2012. Ishaq [...]
BBA announces retirement of chairman Michael Harper October 16, 2013 Multinational jet company BBA aviation has this morning announced the retirement of chairman Michael Harper, following yesterday's report that Sir Nigel Rudd, outgoing chairman of Invensys, is expected to join the board of BBA. (Release) City A.M.'s Marion Drakers writes yesterday: Sir Nigel, who is also the chairman of Heathrow Airport Holdings, could be announced [...]