Environment minister warns risk of flooding remains high January 6, 2014 MORE flooding could be on the way this week as the recent bad weather looks set to continue, the environment minister has warned. Owen Patterson gave a statement in the House of Commons yesterday and warned residents to remain vigilant after bad weather claimed the lives of seven people over the Christmas period. The minister, [...]
Britain to gain as EU may ease bank ringfence January 6, 2014 THE UK will benefit from plans to let national regulators decide whether or not to implement a ringfence, lawyers said yesterday. Britain’s ringfence plans had looked as if they would clash with the EU’s, making implementation difficult and costly for banks and regulators. But documents seen by the Financial Times indicate national regulators may get more of [...]
Channel 5 boss Richard Desmond sues Man Group unit over trade January 6, 2014 MEDIA boss Richard Desmond is suing a unit of Man Group over a derivative product he bought in 2007 which he claims was too complex to understand, according to papers filed at the High Court. Desmond has brought the claim against Man’s hedge fund arm GLG Partners after he lost nearly £20m on a capital [...]
UK pension plans still haunted by deficits despite stock rally January 6, 2014 THE BLACK hole at the heart of Britain’s corporate pension schemes increased by £25bn last year despite better returns from the stock market and higher payments by companies, fresh figures show. The difference between the amount of cash that FTSE 350 company pension schemes have to pay pensions and the value of pensioner payouts went [...]
Angela Merkel suffers skiing injury January 6, 2014 GERMAN Chancellor Angela Merkel fractured her pelvis while cross-country skiing during the Christmas period, and will be cutting back on her duties while she recovers, according to an official announcement yesterday. Merkel will be working from home when possible over the next three weeks, and has cancelled a visit to Warsaw tomorrow.
Land Securities plots designer outlet at the O2 January 6, 2014 THE O2 arena could become one of London’s top shopping destinations after Land Securities began talks with its owner to open a designer outlet centre on the site. The property giant has signed a six-month exclusivity agreement with AEG Europe to explore options for creating a designer outlet scheme in an unused part of the [...]
Boeing set to keep crown as the world’s biggest plane producer January 6, 2014 PLANE maker Boeing beat its own targets and several annual records for commercial plane sales last year, the US firm announced yesterday. The company handed over the keys for 648 jets to airlines last year, up 7.8 per cent on last year, and booked 1,531 commercial orders. Both totals are company records and are likely [...]
Bottom Line: Bicester faces stiff competition as London bares its retail teeth January 6, 2014 UNTIL recently, “designer outlet” was usually preceded by three very specific words – out of town. The UK’s biggest designer outlet, Bicester Village, is officially billed by owner Value Retail as being its London village. In fact, it’s a 63 mile drive – or hour-long train journey – from central London, nestled in a market town [...]
Scottish Power joins Big Six’s price cut round January 6, 2014 SCOTTISH Power has announced a 3.3 per cent cut on standard dual fuel tariffs which is expected to save customers £54 a year. The energy supplier joined other Big Six firms who have promised tariff cuts after the government slashed green levies last month. The reductions start later this month. But the price cut, which [...]
Clarksons shares ride wave of an improving shipping market January 6, 2014 SHARES in ship broker Clarksons were buoyed 8.75 per cent yesterday after the firm forecast better-than-expected profits for the year. The world’s biggest shipping services firm said it had enjoyed a strong end to 2013, particularly in its ship sales business. “The global shipping markets continue to be challenging although the recent improvement in rates [...]