Clegg talks up coalition red lines September 18, 2013 NICK Clegg yesterday set out the Liberal Democrats’ pitch for the 2015 general election by producing a long list of Conservative policies that his party had blocked – and insisting the Lib Dems had blunted the right-wing instincts of Tory ministers. The Deputy Prime Minister told delegates at his party’s annual conference in Glasgow that [...]
Life insurers are breaking new commission ban September 18, 2013 LIFE insurers are breaking strict rules banning the payment of commissions by offering incentives such as free holidays for advisers and their spouses, the City watchdog claimed yesterday. Since the start of 2013 advisers have not been allowed to receive commission and individuals must instead pay up front for financial advice. The government hopes this [...]
Barclays shares dive after rights issue offer comes to an end September 18, 2013 SHARES in Barclays plunged sharply yesterday after the deadline for investors to be eligible for discounted stock in the bank’s rights issue. But the fall in price was less sharp than feared, indicating investors remain upbeat on the bank’s earnings potential. Yesterday shares dropped 7.29 per cent to 277.2p. The stock had been pumped up [...]
Tory membership slumps under Cameron September 18, 2013 MEMBERSHIP of the Conservatives has almost halved since David Cameron came to power, the party admitted yesterday. It told the ConservativeHome website that there are now 134,000 Tory members, compared to more than 253,000 at the time of the 2005 leadership election. While all mainstream parties have seen declines in membership over the last decade, [...]
JD Sports profits up but outdoor stores in the red September 18, 2013 BRITISH retailer JD Sports yesterday posted a surge in first-half profits, with a strong performance in the firm’s core sports offering offsetting continued losses from its fashion and outdoor stores. Pre-tax profits excluding exceptional items rose to £10m from £2.9m in the first half of 2012. The firm posted a record performance in its core [...]
Bottom Line: Results are also a game of two halves September 18, 2013 LUCKY for JD Sports that rival JJB went into administration at the end of last year. That helped it to score a 7.5 per cent increase in like-for-like sports sales in the UK and Ireland in the first half, with group profit before tax up 111 per cent to £6.1m. Without it, these results could [...]
Zara-owner Inditex sees sales pick up as Asia drives growth September 18, 2013 INDITEX, the world’s biggest clothing retailer, reported a pick up in sales yesterday, helping to ease concerns its rapid growth of recent years may be faltering after the smallest rise in first-half profit since 2009. The owner of the Zara chain signalled it was not immune to cash-strapped European markets, where cut price competition combined [...]
Scotland could face spending crisis after vote September 18, 2013 ANALYSIS of Scotland’s prospects suggests that the country may have difficulties maintaining public spending if it votes for independence. According to the Institute for Fiscal Studies, if oil revenues forecasts are correct, an independent Scotland may need £3.4bn in tax rises or spending cuts. Scottish spending per person on social services is 26 per cent [...]
Portugal faces risk of credit downgrade September 18, 2013 STANDARD & Poor’s put Portugal under warning of a possible credit-rating downgrade yesterday. S&P said further constitutional court challenges to measures intended to cut spending and Portugal’s weak economy prompted it to put the country’s BB sovereign foreign currency credit rating on its CreditWatch negative list, meaning it will make a final decision within about [...]
Oracle’s sales meet muted expectations September 18, 2013 ORACLE last night said quarterly software sales and subscriptions grew in line with tempered forecasts, ending two quarters of misses. Oracle said new software sales and internet-based subscriptions rose four per cent to $1.7bn (£1bn) in its first quarter. Overall revenue rose two per cent to $8.37bn. Net profit rose to $2.19bn, or 47 cents [...]