Jack Lew warns brinkmanship of shutdown must not be repeated October 20, 2013 THE US economy has been hurt by a recent budget standoff in Washington and it is important that the nation does not go through another around of brinkmanship, Treasury Secretary Jack Lew said yesterday. Speaking on NBC’s Meet the Press programme, Lew said he was confident the economy, which he described as resilient, would recover [...]
Qinetiq lines up interest in sale of US tech unit October 20, 2013 QINETIQ, the FTSE 250 listed defence firm, is considering plans to carve out its US unit amid an ongoing review into how to cash in on the flagging division. The former government-owned company, which was floated on the stock market in 2006, is understood to have slapped a for sale sign on its US Services [...]
Buyout shop Charterhouse eyes £1bn offer for G4S cash business October 20, 2013 THE OWNER of high street retailer Card Factory is considering a bid to buy a chunk of UK outsourcing firm G4S. Charterhouse, which also owns parts of breakdown group AA and insurer Saga, is thought to be in the early stages of putting together a deal to buy G4S’ cash solutions business for $1.6bn (£1bn). [...]
Bolland loses key womenswear buyer from M&S October 20, 2013 MARKS and Spencer confirmed yesterday that one of its key womenswear executives has resigned, delivering a further blow to the chain as it attempts to repair its struggling clothing division. Gillian Ridley Whittle, development and buying director for womenswear plans to leave in six months to join Australian department store group Target. Her departure comes [...]
September profit warnings hit six-year high as targets missed October 20, 2013 PROFIT warnings from listed companies spiked to the highest level since the height of the financial crisis in September, despite warnings for the quarter falling by 17 per cent, according to an EY report. September’s spike of 26 profit warnings, the highest number of warnings in that month since 2008, clouded an otherwise improved outlook [...]
UK dividends to soar to £100bn October 20, 2013 A BUMPER payout from Vodafone will boost UK dividends to a record £101.8bn in 2014 from FTSE350 firms, according to estimates out today from Capita Asset Services. The figure is an enormous 28.7 per cent rise on the year, far outstripping the previous record level of £80.6bn set in 2012. Much of the boost comes [...]
Flug fills top job at Bank of Israel after two years as deputy October 20, 2013 THE BANK of Israel named a new governor yesterday, promoting deputy governor Karnit Flug, who has been acting head since earlier in the year. Flug has been acting as the Bank’s governor since Stanley Fischer stepped down in June, and has worked for the Bank of Israel since joining in 1984. She was appointed to [...]
Barclays in SME loan bid October 20, 2013 BARCLAYS will offer small firms pre-approved loans, the bank said today, making it easier to access credit. More than 60 per cent of firms with a turnover of more than £10,000 will qualify automatically for the loans of up to £15,500 when the service is launched this month. Banks have been under pressure from regulators [...]
UK confidence grows despite pay pressures October 20, 2013 CONFIDENCE in the British economy is still on the rise despite the ongoing squeeze on pay, according to two surveys of thousands of UK consumers. Both Lloyds’ and Deloitte’s most recent analyses of consumer confidence found the strongest sentiment since their surveys began, in 2010 and 2011 respectively. Both reports demonstrate growing confidence in the [...]
Retailers point to poor footfall despite strength of sales figures October 20, 2013 RETAILERS recorded a decline in footfall this September, despite official statistics showing the strongest rise in sales for five years during the same month. According to figures released today by the British Retail Consortium (BRC) and Springboard, footfall was 2.4 per cent lower last month than in September last year, with every region of the [...]