Npower to freeze new prices until spring 2015 December 2, 2013 UK energy supplier Npower says it will freeze its prices until spring 2015, unless wholesale costs increase. Chief executive officer Paul Massara said: "We don’t plan to increase energy prices before Spring 2015, unless there are increases in wholesale energy costs or network charges." The company introduced a planned price rise of 10.4 per cent [...]
Rathbone Brothers chief retires as deputy takes over December 2, 2013 Investment management group Rathbone Brothers has said this morning that chief executive officer (CEO) Andy Pomfret will be retiring at the end of February. Current deputy chief executive, Philip Howell, will step into the breach on 1 March. Howell has been with the company since March of this year and was most recently CEO of [...]
What you need to know before the open – 02/12 December 2, 2013 It's a big week for the UK, with manufacturing, construction and services PMIs for November and, of course, the chancellor's Autumn Statement on Thursday. US markets continue to go from strength to strength, with the S&P 500 hit another record high on Friday. Busyness on the macroeconomic front will be seen more widely, too, [...]
Amazon pioneers drones for deliveries December 2, 2013 Online retailer Amazon is testing unmanned drones to deliver products to consumers in record times. Instead of being the preserve of the US military and law enforcement, drones could be making the Christmas delivery rounds within five years according to the company. Amazon chief executive, Jeff Bezos told CBS television's 60 Minutes "We can do [...]
Osborne’s plan to cut fuel bills December 2, 2013 CHANCELLOR George Osborne has pledged that the government will waive the cost of some green levies currently paid for through energy bills, in a bid to ease political pressure and save the public money. The move is expected to cut energy bills by £50 a year per household, with the cost now met instead through [...]
Cyber Monday to smash online sales records December 2, 2013 ONLINE retailer Amazon has said it expects to receive more than 4m orders today as UK shoppers flock to online stores on so-called Cyber Monday, a rise of around 15 per cent on the same day last year. Amazon also claimed that its new fashion store, which has signed up 50 brands this year, will [...]
Economic growth boosts hopes for tax giveaways December 1, 2013 GEORGE Osborne could have more room for tax cut giveaways as the economy recovers, analysts predicted ahead of Thursday’s Autumn Statement. The Office for Budget Responsibility (OBR) is expected to reveal Osborne is ahead of previous forecasts on cutting the deficit, opening the way for him to consider loosening the purse strings. The OBR is [...]
PM flanked by business heads for China trip December 1, 2013 PRIME Minister David Cameron landed in China late last night, travelling with the largest trade delegation that the UK has ever sent to the country. Hundreds of business grandees are travelling with Cameron, including his own father-in-law, Viscount Astor, who is a director of Silvergate Media. Sir Andrew Witty of GlaxoSmithKline and Ralf Speth, the [...]
What the other papers say this morning – 02 December 2013 December 1, 2013 FINANCIAL TIMES Mass demonstrations shake Kiev Viktor Yanukovich, Ukraine’s president, was under escalating pressure on Sunday night as hundreds of thousands of protesters poured onto the streets of Kiev demanding the overthrow of his government, after it sought to strengthen relations with Russia at the expense of the EU. With the number of protesters estimated [...]
Sheffield home to Cable’s new business bank December 1, 2013 THE NEW British Business Bank is to be set up in Sheffield, according to a government announcement today, as business secretary Vince Cable pledges another £250m for the project. The increase in funding means that the state-backed bank, which is meant to help small businesses access finance, will begin with £1.25bn. Spokespeople from the Department [...]