Royal Mail price may have safeguarded future privatisations January 10, 2014 It's been three months since the government first sold off Royal Mail shares, and there's another "dog bites man" story going around this morning as Labour's Chuka Umunna has yet again attacked the sale as being far too cheap. Umunna has said that "the business secretary's dismissal of the sharp rise in share price as [...]
Regulator imposes surprise Heathrow price cap January 10, 2014 The operator of Heathrow airport is set to clash with regulators after the Civil Aviation Authority (CAA) said user charges for airlines will be capped at 1.5 per cent below RPI inflation. Dame Deidre Hutton, CAA chairwoman, said the price cap was "good news for air passengers. They will see prices fall, whilst still being [...]
Banks pay further £77m to small businesses for swaps mis-selling January 10, 2014 According to the Financial Conduct Authority (FCA), the UK's four largest banks have upped the pace of payouts to small businesses mis-sold interest rate hedging products. 1,040 firms had been paid a total of £158.6m in compensation from Lloyds, RBS, Barclays and HSBC by the end of December. In November a total of £81.2m was [...]
What you need to know before the open – 10/01 January 10, 2014 We've got the much-awaited US non-farm payroll report later today, and European markets are expected to open higher this morning. US markets saw no real change overnight. An earlier sell-off saw investors hedging their bets in anticipation of today's data. Morning all. #FTSE called 25 higher this morning. not a lot else hapening as [...]
JD Sports enters the New Year with steady sales growth January 10, 2014 JD Sports has reported like-for-like sales for the group's core Fascia stores are now marginally ahead of the 5.8 per cent rise seen in the for the forty two weeks to 23 November. The group believes the most recent six weeks trading has given the company hope for further progress over the course of 2014. [...]
China’s economic slowdown sees markets cautious January 10, 2014 Some disappointing numbers for China overnight, as it missed its official target on foreign trade for the second year in the row, confirming a loss of momentum at the end of 2013. But despite its export growth slowing by more than expected in December, the country has now overtaken the US as the world's largest [...]
A two-speed high street January 9, 2014 A CLEAR split between Britain’s winners and losers in the battle for consumers’ cash this Christmas emerged yesterday, as three of the biggest retail chains revealed worse-than-expected trading. Poor results from Tesco, Morrisons and Marks & Spencer added to dreary updates from Sainsbury’s and Mothercare, with heavy discounting, weak consumer spending and the rising discount [...]
Cinema chains to star in £1bn mega-merger January 9, 2014 CINEWORLD last night confirmed it is in talks to seal a £900m merger with Warsaw-listed Cinema City International (CCI), a deal that would create a cinema chain with nearly 2,000 screens spread across Europe and Israel. Cineworld, which is due to issue a trading update today, is the UK’s largest cinema operator by market share, [...]
Banker pay starts rising as recovery takes hold January 9, 2014 PAY IN finance and banking is bouncing back strongly this year, according to recruiter Robert Half’s annual salary guide. After several years of sacking staff and holding back pay to bring down costs and reform businesses, banks are increasingly prepared to pay more for the right talent in the right areas, the report has found. [...]
What the other papers say this morning – 10 January 2014 January 9, 2014 FINANCIAL TIMES Taxman hardens stance on disputes The UK taxman has toughened its stance on disputes with big business in response to public pressure over alleged “sweetheart” deals, companies say. Three-quarters of such groups surveyed by Clifford Chance, a law firm, said HM Revenue & Customs had “generally become more aggressive in recent years”. Santander [...]