German boost from jobs data January 7, 2014 THERE was good news for Germany yesterday as unemployment fell for the first time in five months in December – by 15,000. The jobless rate stayed steady at 6.9 per cent, yet the figures nonetheless beat expectations. But despite job creation throughout last year, unemployment has increased by 33,000 compared to a year ago. “Strong labour [...]
France records confidence rise January 7, 2014 CONSUMER confidence rose slightly in France during December, according to official figures released yesterday. The official confidence index rose from 84 to 85 last month, but optimism remains well below the long term average score of 100. The outlook for the financial situation in the next 12 months also dipped slightly, but views of the [...]
Centrica finance chief leaves for Reed Elsevier January 7, 2014 CENTRICA finance director Nick Luff will depart the company this year to join information group Reed Elsevier, leaving Britain’s biggest household energy supplier in the midst of a political row over rising bills. Energy costs have become a big political issue in recent months, leading to intense scrutiny of utility companies like Centrica, after Ed [...]
Analyst Views: What does Nick Luff’s move mean for Centrica and Reed Elsevier? January 7, 2014 JOHN MUSK | RBC CAPITAL MARKETSNick Luff is widely regarded as one of the best finance chiefs in the European utility sector. He has been responsible for the transformation of Centrica from an asset light and inefficient energy supplier to a more balanced entity. We see Nick Luff’s departure as a slight negative for Centrica. [...]
Rise in traffic gives Christmas cheer to EasyJet January 7, 2014 EASYJET carried 3.6 per cent more passengers than it did a year ago in 2013, helping narrow the gap between the budget carrier and its larger rival Ryanair. The orange-liveried airline booked in 61.3m customers in 2013, it said yesterday. Traffic in December was up 3.5 per cent at 4.5m, giving FTSE 100-listed EasyJet a [...]
New car sales hit post-crisis high January 7, 2014 BRITONS bought 2,264,737 new cars last year, the highest sales rate since 2007 and better than industry forecasts. Showrooms shifted 10.8 per cent more new vehicles than they did in 2012, with analysts pointing to windfalls from PPI compensation, attractive finance packages and a hunt for more fuel-efficient cars as the main drivers of growth. [...]
Fresh finance deal for Caffe Nero revealed January 7, 2014 COFFEE chain Caffe Nero announced that a £275m deal to refinance its debts had been completed yesterday. The deal is split between £100m of senior debt instruments, £150m in mezzanine debt and £25m in capital expenditure. The firm say that they will expand abroad and in the UK, as well as releasing a new “at home” [...]
Gatwick says sorry for chaos after biblical Christmas floods January 7, 2014 GATWICK has made a fresh apology to passengers left stranded on Christmas Eve, after it emerged that the airport’s chief executive was on holiday in Newcastle as staff struggled to find enough bus drivers to move passengers. Chief executive Stewart Wingate said the airport had just half an hour’s warning of the “biblical” flooding that [...]
Politicians concerned that spending cuts could jeopardise Environment Agency’s flood work January 7, 2014 POLITICIANS warned yesterday that budget cuts at the Department for the Environment, Food and Rural Affairs could endanger the country’s efforts to deal with flooding and other extreme weather. Defra’s budget will be cut from £3bn in 2010-11 to £2.2bn by 2015-16, meaning it faces some of the most stark spending reductions of any government [...]
Meltdown Mike is not alone in his public pickle January 7, 2014 POOR Michael Bay – the Transformers director had a very public meltdown earlier this week when he introduced Samsung’s new 150-inch TV at the Las Vegas Consumer Electronics Show. The director lost his place on the teleprompter, fluffed his lines and walked off stage in a huff. But Bay can console himself with the fact [...]