Britain objects to EU power grab over spectrum auctions September 30, 2013 Reuters reports that Britain has objected to rules from the European Commission giving them the authority to block what they perceive as overly expensive auctions of mobile spectrum. A note from the British government sent to EU leaders raises a series of objections to the measures which were unveiled only a few weeks ago. EU [...]
SSE Fitch rating of A- remains unchanged following Ed’s energy freeze September 30, 2013 The ratings agency Fitch Ratings has today affirmed utilities company SSE the Long-term Issuer Default Rating (IDR) of 'A-' with a Stable Outlook. This comes after Ed Miliband's price freeze announcement last week; the A- rating signifies that economic situation can affect the finance of a company, but is an unchanged rating for the company. [...]
London named top city in the world September 30, 2013 London has been voted top city in the world following the results of the internationally renowned bi-annual Anholt-GFK Roper City Brands Index. The UK capitol won first place for the city that makes it easiest for people from different cultures to fit in as well as first place for overall ranking. London & Partners chief [...]
Outlook good for US business as Chicago PMI comes in above expectations at 55.7 September 30, 2013 Outlook for US business is looking positive, as the Chicago purchasing managers' index for September came in at 55.7, exceeding expectations of 54 and up from August's figure of 53. The index captures business conditions across Illinois, Indiana and Michigan and is considered an indicator of overall economic condition for the country.
Windows phones overtake Blackberry as UK’s third largest platform September 30, 2013 Windows based phone sales accounted for 12 per cent of units in the UK in the three months to August, and in the past year has surged past rival Blackberry to become the third largest platform by sales. New figures from the Kantar Worldpanel ComTech show that Windows has posted its highest ever sales share [...]
Osborne promises budget surpluses – but deficit reduction is flatlining September 30, 2013 It's easy to offer up promises of budget surpluses at a party conference, but chancellor George Osborne's track record in government offers something more tangible. While the Office for Budget Responsibility (OBR) does forecast that net borrowing will fall to 6.5 per cent of GDP by the end of the coalition government, the UK is [...]
Albemarle and Bond shares slump on profit warning and £35m rights issue September 30, 2013 For pawnbroker Albemarle and Bond, things have gone from bad to worse after its share value crashed this morning, following their announcement of an emergency rights issue of £35m and profit warning. City A.M.'s Michael Bow reported this morning: TROUBLED pawnbroker Albemarle & Bond is in the market for an emergency bailout after its business [...]
GlaxoSmithKline sells thrombosis brands to Africa’s largest drugs company September 30, 2013 GlaxoSmithKline announced today that it has agreed to sell its thrombosis brands Arixtra and Fraxiparine and the Notre-Dame de Bondeville manufacturing site to South African pharmaceuticals company Aspen Pharmacare for £700m. The cash proceeds after tax and transaction costs are estimated to be £600m. David Redfern, chief strategy officer, GSK, said: Arixtra® and Fraxiparine® are [...]
Government plans fuel duty freeze until 2015 September 30, 2013 Chancellor George Osborne has announced that the coalition government plans to freeze fuel duty until 2015. He said that relies upon the government being able to find the savings necessary. Osborne slammed Labour leader Ed Miliband's plan for energy sector price controls, saying that they would simply see bills increase in the short and the [...]
PDL ministers resign says premier’s office September 30, 2013 Italy's premier's office has confirmed Berlusconi's People of Freedom (PDL) party has seen an en masse resignation of ministers, as the governmental chaos of the last few days rattles on. This morning, European shares fell following Italian cabinet resignations, making the possibility of a new election ever-more real. The pan-European FTSEurofirst 300 was down [...]