UK Christmas sales 2015: Online shoppers boost consumer spending in December January 11, 2016 More shoppers took to their mobiles and laptops to buy their Christmas presents this year instead of venturing out on the high street, new figures show helping to fuel a rise in consumer spending. Data compiled by Markit on behalf of Visa Europe found that spending growth rose to 2.3 per cent year-on-year in December, from [...]
Deal spree to provide relief to the City with Shire on verge of tie-up with Baxalta January 11, 2016 A string of mega deals is set to provide welcome relief to the City after a rocky start to the year saw £85bn wiped off the value of the UK’s biggest firms in the first trading week of 2016. London-listed pharmaceutical giant Shire is on the verge of inking a £22bn deal with US rival Baxalta, [...]
New Axa Insurance boss Amanda Blanc on the company’s plans for growth January 11, 2016 Amanda Blanc began the new year as chief executive of a reorganised Axa Insurance. Previously the head of Axa Commercial Lines and Personal Intermediary, as of 1 January Blanc has taken on responsibility for the French group’s insurance business in the UK and Ireland, a change that doesn’t seem to have phased her. “I feel like [...]
Co-op Group grows its legal services offering with acquisition of Collective Legal Solutions January 11, 2016 The Co-op Group has today announced that it has purchased Collective Legal Solutions Group, in a bid to grow its legal services business. Collective Legal Solutions, which has over 100 associates and support colleagues and was founded in 2007, has been acquired to strengthen Co-op’s already existing legal services offering. Co-op Legal Services was set [...]
New mobile challenger bank Starling Bank gets $70m investment as Pinsent Masons finds 38 per cent of Londoners would consider using payment apps January 11, 2016 A new British bank focused exclusively on current accounts has secured a $70m (£48m) investment from an American investor. Starling Bank, which applied to the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) at the end of last year for a banking license, announced the latest funding round today. Commenting on his $70m [...]
Star Wars: The Force Awakens becomes third biggest film ever after $53m opening weekend in China January 10, 2016 Star Wars: The Force Awakens made $53m (£37m) in ticket sales on its first weekend in China, making it the third highest-grossing film globally in history, according to Walt Disney Studio estimates. The film was also the highest-grossing ever to hit Chinese screens. Globally, it has raked in $1.73bn, overtaking Jurassic World's $1.67bn haul. It [...]
UK grocers Morrisons, Sainsbury’s and Tesco set to show their hand in Christmas battle for sales January 10, 2016 The winners and losers of the battle for this winter’s Christmas dinner will be laid bare this week as Morrisons, Sainsbury’s and Tesco prepare to report tough trading amid intense competition in the grocery sector. Morrisons will report its Christmas trading figures on Tuesday, with the Bradford-based chain expected to post a two per cent decline [...]
DLA Piper partner pay is on the up despite drop in revenue and profits January 10, 2016 Law firm DLA Piper International experienced a dip in its profits available to be dished out to partners for its year ended 30 April 2015, down to £264m, which is a 2.4 per cent fall from £271m the year before. However, because of a decrease in the number of partners at the firm from 714 [...]
Asda boss Andy Clarke adds £500m fuel to the supermarket price war with Tesco, Sainsbury’s, Morrisons as well as discounters Aldi and Lidl ahead of supermarket Christmas earnings bonanza January 10, 2016 Asda is throwing a further half a billion pounds at the supermarket price war as boss Andy Clarke predicted another "challenging" year for the sector. "There is currently no growth in the food market and the rise of the limited assortment discounters means that we must take radical action to win back our customers," said [...]
Oil prices: Royal Dutch Shell oil boss Ben van Beurden thinks prices will double ahead of crucial BG Group deal shareholder vote January 10, 2016 The boss of Royal Dutch Shell Ben van Beurden has said he is confident that oil prices will return to higher levels just days after they plummeted to an almost 12-year low as the giant gathers support for its billion pound takeover of BG Group. “The oil prices we are seeing today are not sustainable and are going [...]