Sense of deja vu engulfs Barclays boardroom over ringfencing waiver October 22, 2015 When George Santayana uttered his famous quote about people who fail to learn from history being doomed to repeat it, he wasn’t thinking about Britain’s banks. Shame: his words might echo pretty loudly around Barclays’ boardroom right now. Little more than three years after the bank’s chief executive fell on his sword and its chairman made way [...]
September retail sales smash economist expectations paving the way for a record UK Black Friday 2015 October 22, 2015 There was good news for the high street after retail sales surged in September, boosted by the late August bank holiday weekend and beer sales related to the Rugby World Cup. Retail sales volumes jumped by 1.9 per cent on the month, smashing economist expectations of a 0.3 per cent rise, the Office for National [...]
Senior managers live longer than “routine” workers: How the career you choose will dictate your life expectancy October 22, 2015 They say money can't buy happiness – but it turns out it can buy health, after new research came out showing that the more "successful" your career is considered to be, the longer your life expectancy is. Figures from the Office for National Statistics (ONS) found those whose job titles were defined as "higher managerial and [...]
London mayor Boris Johnson unveils plans to build 200,000 homes as part of his “city in the East” October 22, 2015 London Mayor Boris Johnson wants to expand the capital eastwards by building more than 200,000 homes, after new research showed the area's building potential is actually four times greater than previously thought. Johnson's "City in the East" plan, launched today, stretches from from London Bridge to the Isle of Dogs and Greenwich Peninsula, through to Ilford in Essex and Dartford [...]
Best and worst UK online shops: EE has the worst website, but AO.com and Liz Earle top ranking October 22, 2015 EE has been named the worst online shop in the UK by consumer watchdog Which?. Slammed by confused customers for a website that was difficult to navigate and lacking necessary information, the telecoms giant scored just 58 out of 100 in a Which? ranking of the best and worst online stores. Most of us prefer to do [...]
Debenhams share price rises as chief executive Michael Sharp reveals plan to step down “some time in 2016” October 22, 2015 Debenhams' share price opened up this morning as chief executive Michael Sharp confirmed he plans to leave the struggling department store business “sometime in 2016”. Sharp, who has been at the helm since September 2011, will stay on during Christmas and into the new year to help the board find his successor. “This process will evaluate internal [...]
Foxtons says London property transactions at “historically low levels” October 22, 2015 Upmarket estate agents Foxtons has said strong house price growth and stamp duty charges mean the capital's property transactions remain stuck at "historically low levels", pushing its focus towards outer London. Foxtons has opened seven new branches in the last year, most recently in high growth, outer London areas. "We are in a strong position to capitalise on market growth [...]
Mothercare turnaround plan on track despite currency headwinds October 22, 2015 Mothercare's turnaround is on track after a solid second quarter performance, despite challenges from foreign currency headwinds. The childcare retailer, which is part-way through a significant overhaul implemented last year by chief executive Mark Newton-Jones, has grown UK like-for-likes 6.5 per cent, while total UK sales rose 1.8 per cent. Online sales under the former [...]
London Stock Exchange “confident” for 2015 after Worldpay IPO October 22, 2015 The figures The London Stock Exchange's revenue from continuing operations rose 12 per cent to £326.4m in the three months to the end of September, while headline income rose 85 per cent to £589.3m, it said today. This was buoyed by its information services division, where revenue increased 44 per cent to £133.7m, on the back of good growth at the FTSE and contribution from [...]
Iron ore prices fall to three-month low October 22, 2015 Iron ore prices fell to the lowest level since July, amid a supply glut and crumbling global demand, particularly from its biggest consumer China. Benchmark 62-per cent grade iron ore for delivery to China's Tianjin port fell 0.8 per cent to $52.10 a tonne on Tuesday, according to The Steel Index. That was its lowest since [...]