Regulator furthers probe into RBS January 17, 2014 An update on the Financial Conduct Authority's investigation into RBS. The City regulator has said this morning that it's appointed global consulting firm Promontory Financial Group and financial advisory company Mazars to conduct a report into RBS' treatment of struggling customers. It'll also look at the claims made in the reports by Dr Lawrence Tomlinson [...]
Cut taxes to save bingo say MPs January 17, 2014 The Bingo Association says that taxes on the game are excessive compared to competitors in the gambling industry and are contributing to the rapid decline of bingo clubs. Profits from bingo halls are taxed at 20 per cent, five percentage points more than bookmakers and eight percentage points more than lottery tickets. A cross party [...]
Shell issues warning of “significantly” lower profits January 17, 2014 Royal Dutch Shell was trading four per cent lower this morning following the announcement that the company could see significantly lower profits than recent levels, due to falling oil prices and the rising costs of exploration. Fourth quarter adjusted earnings in the period on a current cost of supply basis would be $2.9bn (£1.3bn). Ishaq [...]
Nintendo slashes dividend forecast on expected full year loss January 17, 2014 Christmas shoppers did little to revive the languishing sales of Nintendo's Wii U. Lower-than-expected console and games sales brought a very disappointing Christmas for the world's largest video-game machine maker, which has cut its forecast for the financial year to a net loss of 25bn yen (£147m). The company had been expecting full-year net profit [...]
What you need to know before the open – 17/01 January 17, 2014 European markets are set to move higher today after marginal gains in US equity futures and Asian stocks. We've got UK retail sales for December this morning, which'll reveal more about shopping over Christmas. And in Asia, the Nikkei dropped in trading today, after US corporate earnings damaged investor sentiment. ETX Capital #MorningCall FTSE [...]
Online betting pays out for William Hill January 17, 2014 Bookmaker William Hill reported strong growth with sports betting and sportsbook leading the way, in its trading statement for the 13 weeks from 2 October to 31 December. Online net revenue increased by 14 per cent, benefitting from improvements to mobile gaming. Ralph Topping, chief executive of William Hill, commented: Q4 proved a strong end [...]
Minimum wage to rise by 11pc January 16, 2014 Business warns Osborne’s move could jeopardise the recovery GEORGE Osborne has given the strongest hint yet that he wants to see the minimum wage increased to £7, despite urging caution earlier this month. The chancellor told the BBC that he would like to see an above-inflation rise in the minimum wage, currently set at £6.31 [...]
Miliband: I will break up high street banks January 16, 2014 LABOUR leader Ed Miliband will today confirm his plan to break up some high-street banks in an attempt to increase competition. In a speech at the University of London this morning, Miliband will claim that Britain can only earn its way out of the cost-of-living crisis by reforming the banks and building a new economy [...]
London crowned world’s most visited city in 2013 January 16, 2014 LONDON is predicted to have welcomed 16m tourists in 2013, surpassing Paris’s record of 15.9m in 2012 and crowning the capital as the most popular city to visit in the world. The number of tourists visiting London jumped 20 per cent last summer with the capital attracting 4.9m visitors between July and September, up almost [...]
UK exports will miss their target as firms struggle January 16, 2014 THE GOVERNMENT will miss its target to double the value of UK exports by 2020, the Public Accounts Committee has warned. In a report out today, chair of the committee Margaret Hodge said that the UK is not performing as well as its European rivals and that tough Home Office visa systems are deterring foreign [...]