Bottom Line: Results to show benefit of planning ahead November 18, 2013 LAST week, EasyJet revealed that it had finished testing its volcano-busting aircraft sensors, allowing planes to dodge ash clouds and keep flying after eruptions like the one that crippled European airspace in 2010. The experiment, which required EasyJet and its partners to throw a metric tonne of ash into the sky before flying four planes [...]
France reveals €5.5bn shortfall in tax receipts November 18, 2013 FRENCH budget minister Bernard Cazeneuve said yesterday that weak economic growth was causing a €5.5bn (£4.6bn) shortfall in 2013 tax receipts. “According to our calculations there is a €1bn shortfall on value-added taxes and a €4bn shortfall on corporate taxes, which are particularly sensitive to the economic cycle,” Cazeneuve said on BFM Television. He added [...]
Bitcoin price hits $500 as demand soars for virtual currency in China November 18, 2013 VIRTUAL currency Bitcoin soared over $530 to a new record high on the Mt Gox, one of the currency’s largest exchanges last night – almost doubling its value in the last 12 months. The recent surge has been largely attributed to the digital currency’s rising popularity in China, where investors are becoming increasingly interested in [...]
Thai visitors among the UK’s big shopper league this Christmas November 18, 2013 WEALTHY foreign visitors are expected to keep Britain’s tills ringing over the crucial Christmas period, with spend from Thai tourists outpacing all other nationalities so far this year. Thai visitors are the fastest growing consumers of luxury goods in the UK this year so far, with spending up 53 per cent compared to the 37 [...]
Big six forced to compete in new energy auction November 18, 2013 CUSTOMERS are grouping together to switch energy suppliers in time for an auction of energy deals tomorrow, as part of a government-backed initiative to force the big six to compete on price. The nationwide schemes are being managed by 77 local authorities, including 23 London boroughs. “Switching is one of the best ways that people [...]
Q and A: Collective switching November 18, 2013 Q How does collective switching work? A The schemes bring lots of people together who want to switch energy suppliers, and then run an auction where firms can submit offer prices. A large group of people is an attractive target, so they can secure a better deal. Q Great, why hasn’t this been done before? [...]
Calls to whistleblower hotline for finance sector up 23 per cent November 18, 2013 THE number of calls to the Financial Conduct Authority’s so-called whistleblower hotline to report suspected malpractice rose 23 per cent last year. The FCA received 4,718 calls from staff at financial services firms in the year ending in August – up from 3,834 calls the year before, according to City law firm RPC. But RPC [...]
MPs to grill G4S and Serco amid criminal probe November 18, 2013 EXECUTIVES from G4S and Serco will be interrogated by a committee of MPs on Wednesday, as scandals surrounding government contracts continue to blight the two FTSE 100 outsourcing firms. Alastair Lyons, chairman of Serco will attend the hearing, alongside Ashley Almanza, chief executive of G4S. Paul Pindar, chief executive of Capita and Ursula Morgenstern, regional [...]
John Lewis sales reach £100m a week for the first time this year November 18, 2013 AFTER a warm start to the winter, Christmas shopping began in earnest last week with John Lewis reporting sales in excess of £100m for the first time this year. Sales in the week to 16 November jumped 10.7 per cent from a year ago to £101.4m – the earliest week that sales have ever topped [...]
Consumers ask to help reshape the high street November 18, 2013 BRITAIN’S embattled high street is in the midst of a revolution and consumers want an active role in shaping its future, according to new research from Deloitte. The business advisory firm’s latest consumer study out today, says that despite the highly publicised concerns regarding its future, residents continue to value the high street and want [...]