Firms accused of failing to be smart with energy bills: Almost half have never switched suppliers March 9, 2015 UK businesses are failing to save money on energy bills by staying with existing power suppliers rather than switching. Almost half, 47 per cent, of businesses have never switched suppliers or tariffs, despite 75 per cent of SMEs, which represents 3.9m businesses, believing they pay too much for their utilities, according to research from energy [...]
First Utility calls on rivals to help customers save March 9, 2015 ENERGY supplier First Utility has challenged its competitors to scrap variable tariffs, and make it easier for customers to switch to cheaper tariffs. The company says more needs to be done to help consumers avoid overpaying on their energy bills. According to First Utility, 70 per cent of Big Six customers are overpaying by an [...]
John Lewis Partnership poised to reduce bonus payout to staff March 9, 2015 THE JOHN Lewis Partnership will this week seek to cut its bonus pot for staff for a second year in a row after the supermarket price war took its toll on sales at its upmarket grocery chain Waitrose. Waitrose has grown sales and market share faster than its traditional supermarket rivals in recent years, thanks [...]
Zegona Communications IPO: Peppa Pig backer Marwyn puts aside £12m for new Aim entry March 9, 2015 Investment fund Marwyn will be the chief investor in Zegona Communications once the company lists on the Alternative Investment Market (Aim), it was revealed yesterday. The fund, which is also a backer of Peppa Pig, will be investing up to £12m in the new company which was set up earlier this month by former executives [...]
Sir Philip Green poised for BHS sell-off March 9, 2015 Update: This deal has now gone through. Read the full details here. Sir Philip Green (pictured above with TV star Holly Willoughby )is understood to be close to agreeing a deal to sell troubled department store chain BHS in a move that would break up his Arcadia empire. American hedge fund Apollo’s retail fund [...]
Morrisons to cut dividend and post lowest profit in eight years March 9, 2015 Morrisons is expected to signal lower dividend payouts on Thursday this week when the troubled supermarket chain is to report its lowest annual profit in eight years. The Bradford-based retailer has been hit hard by the fierce industry price war as all big four supermarkets battle it out to retain customers’ loyalty and fend off [...]
Whitewood Reff IPO: Benelux focused property firm to float in London March 9, 2015 A property arm of Whitewood Group has unveiled plans to float in London to raise cash for a push into Holland and Belgium’s commercial property sector. Whitewood Reff will raise up to £125m from listing and aims to start trading on the main market of the London stock exchange next week. The vehicle, led [...]
Glaxosmithkline China dismisses more than 100 over bribery scandal that cost company £300m March 7, 2015 GlaxoSmithKline (GSK) has booted more than 100 staff in China on the back of its investigations into the corruption scandal that ended with it being fined £300m last year. The company was found guilty last September of bribing doctors to prescribe its medicines, and began an internal investigation to ascertain the extent of the corruption. [...]
Apple is going to join the Dow Jones on 18 March March 6, 2015 Apple is to jump across to the Dow Jones, becoming the fifth highest-ranked company on the index. AT&T will be the casualty, with the switch taking place on 18 March this year. Apple is the world’s largest company, but won’t top the Dow as companies are ranked by share price, not by market cap. The [...]
Heron Tower police raid: The colourful world of Chelsea FC’s forex partner CWM FX March 6, 2015 Only one company in the Heron Tower has alluded to this week’s police raid. We ask who they are… Three days ago police raided offices in the Heron Tower, hauling 13 City workers out of the building and away for questioning. The event has sent shockwaves through the Square Mile; but aside from pub gossip [...]