Pizza Express bows to pressure on tips September 3, 2015 Pizza Express has bowed to growing pressure over its tipping system and agreed to remove the eight per cent administration fee it charges for customers paying their bill with card. The move, which workers and unions have been calling for over the last few months, means staff will receive the full amount left for [...]
Co-operative Group says investments in its turnaround will hit full-year profits September 3, 2015 The Co-operative Group has warned full-year profits are likely to be lower than 2014 is ramps up investment as part of a radical overhaul of the business following one of the most turbulent periods in its history. The company, which operates everything from supermarkets to funerals, has been fighting to restore its fortunes following the [...]
Euro falls against the pound as European Central Bank chief Mario Draghi cuts inflation forecasts September 3, 2015 The euro lost 0.6 per cent against the pound at lunchtime after comments from European Central Bank (ECB) chief Mario Draghi said Eurozone inflation would be lower and that recent market volatility presented downside risks. In comparison with the June 2015 Eurosystem staff macroeconomic projections, the outlook for HICP inflation has been revised down, largely [...]
Retail sales: Eurozone recovery looks set to last this time, but France lags behind September 3, 2015 The Eurozone looks set to finally break free from the doldrums of persistant stagnation with survey figures pointing to the strongest economic growth in the currency-bloc for four years. Markit’s composite purchasing managers’ index – which gauges business activity across all sectors of the economy – edged up to 54.3 in August, further in excess [...]
PMI: Survey points to slowest UK service sector growth for two years September 3, 2015 Growth in the UK’s service sector has slowed to its lowest rate in over two years, according to new survey data, sparking concerns over the health of the economy. Markit’s purchasing managers’ index fell to a 27-month low of 55.6 in August, nearer to the 50 level which indicates flat activity, according to figures released [...]
Uber drivers given green light by US judge to launch class-action lawsuit September 3, 2015 Uber drivers have been given the go-ahead by a judge in the US to launch a class-action lawsuit which could result in its model being radically altered Read more: Uber vs black cab: Who wins among London passengers? – Brand Index The drivers are fighting for the right to be classed as employees rather [...]
EasyJet share price on track for biggest rise in two years as summer success lifts full-year expectations September 3, 2015 A record number of passengers and cheap fuel prices have offset difficulties faced by the low-cost airline earlier in the year. The figures Budget airline EasyJet has said it carried a total of 7.1m passengers in August – a one-month record for the company. Similarly, the proportion of seats occupied on flights reached an all-time [...]
PMIs: Services boost in Germany and Spain as Russia and France falter September 3, 2015 Germany and Spain's services industries appear increasingly healthy, after both countries posted better-than-expected purchasing managers' index (PMI) figures for August this morning – but things are looking less rosy for France and Russia. Germany experienced its strongest rise in business activity since March, with the services business activity index rising to 54.9 in August, [...]
Barclays share price rises as it confirms sale of Portuguese assets September 3, 2015 Barclays confirmed this morning it will sell its Portuguese non-core assets – including its retail banking, wealth and investment businesses, as well as the small business arm of its corporate banking business – to Bankinter. It will also sell its insurance business in the country to Bankinter's insurance subsidiary, which operates a joint venture with [...]
Northern Powerhouse: Foreign investors already know there are better opportunities in the North of England – now it’s time for Londoners to wake up to reality September 3, 2015 Any wise investor, entrepreneur or business leader knows that along with good ideas, capital constitutes the building blocks of economic growth. This means, of course, that an area needs plenty of financial capital to progress. But there are many different types of capital, and in the UK over the last 40 years there has [...]