New York picks Bill de Blasio as next city mayor November 6, 2013 NEW YORKERS yesterday chose liberal Democrat candidate Bill de Blasio to succeed Michael Bloomberg as the city’s mayor next year, delivering him a landslide victory over Republican rival Joe Lhota. De Blasio – the first Democrat to be elected as mayor in two decades – grabbed 73.3 per cent of Tuesday night’s vote after a lengthy [...]
Tale of two cities: Six Bill de Blasio policies November 6, 2013 1 Wants to raise the city’s income tax (which comes on top of federal and state tax) on those earning more than $500,000 a year from 3.9 per cent to 4.4 per cent to fund pre-school education. 2 Wants a so-called living wage of $11.75 an hour for those who work for the city council [...]
Assets jump at Old Mutual November 6, 2013 OLD MUTUAL has grown its funds under management 14 per cent to £287.5bn in the year to date, helped by strong sales in both the UK and emerging markets. “Our strong momentum continued with a third consecutive quarter of positive net client cash flow in all our businesses,” chief executive Julian Roberts said. Gross sales [...]
Lancashire still under pressure November 6, 2013 LANCASHIRE Holdings posted a 67 per cent decline in third-quarter profit as the property and casualty insurer recorded lower investment returns and took hefty losses from recent storms and floods. The London listed insurer, which writes policies for heavy-duty assets such as oil rigs, ships and aircraft, said pricing remained under pressure. Pre-tax profit fell [...]
Centrica agrees on £4.4bn gas import contract with Qatar November 6, 2013 FTSE 100-listed energy firm Centrica, which owns British Gas, yesterday confirmed it has signed a £4.4bn deal with Qatar to supply the UK with liquefied natural gas (LNG). Under the four-and-a-half year agreement, Qatargas will supply up to three million tonnes per year of LNG, which could provide enough gas to meet around 13 per [...]
Elop and Mulally make Microsoft shortlist for next chief executive November 6, 2013 MICROSOFT has reportedly narrowed its list of candidates to replace chief executive Steve Ballmer, with five candidates vying for the role including former Nokia chief executive Stephen Elop and Ford Motor chief Alan Mulally. The shortlist includes three internal candidates, Skype chief Tony Bates who is responsible for Microsoft’s business development; Satya Nadella, the company’s [...]
Sales slower at Whole Foods November 6, 2013 WHOLE Foods Market yesterday reported same-store sales that decelerated in the fourth quarter and the grocer lowered its sales forecast for 2014. Same-store sales at the upmarket grocer rose 5.9 per cent for the fourth quarter ended 29 September, the slowest pace of the year.
Mondi profits increase 25pc November 6, 2013 SOUTH African paper maker Mondi yesterday posted a 25 per cent increase in third-quarter operating profit to €138m (£116m), due to improved market conditions and the benefits from the acquisitions completed towards the end of 2012. The FTSE 100-listed firm is on track for 2013, but said next year depends on the macroeconomic recovery.
Energy switch enquiries lift Moneysupermarket November 6, 2013 SWATHES of customers looking to switch energy suppliers boosted Moneysupermarket.com’s revenue 25 per cent in the first few weeks of October. The company, whose website helps customers to compare insurance, utilities and energy prices, reported overall revenue growth for the third quarter to 30 September of five per cent. Moneysupermarket attributed the dramatic increase in [...]
Bottom Line: Comparison site knows something we don’t November 6, 2013 THE number of people switching energy provider – gas or electricity – fell to just two per cent in the second quarter of this year, from three per cent in 2012, the lowest since records began in 2003, with consumers apparently refusing to exercise their sovereignty despite rocketing prices – or so official figures from [...]