British business still too weak to fund pensions December 8, 2013 BRITAIN’S biggest businesses are struggling to support their defined benefit (DB) pension schemes despite rising stock markets and renewed confidence in the economy, a study out today reveals. The ability of FTSE 350 companies to fund their DB schemes – a type of pension plan tied to final salary – has failed to rally alongside [...]
UK division of Leica sees slower sales despite new camera launch December 8, 2013 THE UK division of Leica Cameras, the iconic camera brand used by celebrated photographer Henri Cartier-Bresson, reported a slowdown in sales last year despite rolling out a new flagship camera. Leica Camera, which is owned by German parent company Leica AG and distributes cameras in the UK, reported a 12 per cent dip in turnover [...]
H&T weighs bid to salvage shops from troubled Albemarle & Bond December 8, 2013 PAWNBROKER H&T has entered the race to take over its troubled rival Albemarle & Bond (A&B) after entering into early stage talks with the company. H&T, which is the biggest pawnbroker on the high street, is mulling plans to buy the stricken business or takeover a number of its outlets. The pawnbroker faces stiff competition [...]
Encore ticketing goes for a song December 8, 2013 ENCORE Tickets, the West End ticketing provider for shows including From Here to Eternity (above), is on the cusp of being sold by private equity backers Isis Equity Partners. Encore, which was backed by Isis in 2010, is set to be sold for about £60m to former Bargain Booze owner ECI.
Amplats slashes 7,500 roles in turnaround bid December 8, 2013 ANGLO American yesterday confirmed that it has already axed 7,500 jobs out of a planned 14,000, as part of the restructuring of its struggling platinum subsidiary. The FTSE 100 miner, which owns a majority stake in Anglo American Platinum (Amplats), announced in January that it would be cutting 14,000 jobs by 2016, as union strikes [...]
Inmarsat launches satellite in £1bn mobile broadband project December 8, 2013 INMARSAT yesterday launched Britain’s biggest commercial space project as the first of its three satellites took off. The London-based firm has invested £1bn in the Global Xpress fleet, to create the world’s first high-speed, worldwide mobile broadband service. Inmarsat aims to launch all three satellites by the end of next year to deliver broadband services [...]
Gold loses its lustre as industry fears price will stay flat or fall December 8, 2013 MOST gold miners expect the metal price to fall or stay the same in the next year, as confidence in the sector continues to plummet. Forty-seven per cent of gold producers surveyed by PwC expect the price to increase over the next 12 months, compared to 88 per cent a year ago. Seven per cent [...]
Harry’s team asks you to walk home for Xmas December 8, 2013 ADVERSE weather conditions may have slowed Prince Harry’s trek to the South Pole but a UK-based event in support of Walking With The Wounded, backed by City A.M., is still rolling full steam ahead. Glenfiddich, Prince Harry’s team, has been banging the drum for Walking Home for Christmas from all the way down in Antarctica. [...]
Cameron mistakes Waterstones for a small business December 8, 2013 WE’RE big fans of American imports here in the UK; we’ve adopted Black Friday as though St George himself spent the first Friday after Thanksgiving hunting for discounted iPads, and now we’re celebrating Small Business Saturday too. Helping support its debut in the UK, government figures made an effort to get out and shop local [...]
Dancing Bob: Diamond’s victory dances December 8, 2013 Bob Diamond is all set to make a triumphant comeback into the banking world with his $250m plan to buy an African bank. Of course no jubilant return is complete without a victory dance and thanks to social media, we’ve got a pretty good idea what Diamond’s might look like.