Dominos presses on with expansion plans March 28, 2012 Britain’s biggest pizza delivery firm Domino’s Pizza UK reported a rise in first quarter sales, helped by a recovery in Ireland, and said it was sticking with plans to open 72 new stores in 2012, including 12 in Germany. Domino’s, which operates the British and Irish franchises of the global delivery brand, said on Wednesday [...]
Icap trading buoyed by commodities March 28, 2012 ICAP, the world’s largest interdealer broker, said it was trading in line with market expectations, with a strong performance at its commodities and energy arm helping offset tougher conditions on its credit markets side. “ICAP is on track for a robust performance for the year despite the demanding economic environment,” chief executive Michael Spencer said [...]
Lloyds of London reports £516m loss March 28, 2012 The Lloyd’s of London insurance market crashed to its second-biggest ever annual loss last year after absorbing claims from major natural catastrophes including Japan’s Tohoku earthquake and heavy floods in Thailand. Lloyd’s, which traces its origins back 324 years to a London coffee house where merchants insured ships, made a loss of £516m in 2011, [...]
Ronson attacks politics of envy March 27, 2012 PROPERTY tycoon Gerald Ronson launched a scathing attack on the political establishment yesterday, hitting out at the “hypocrisy and envy” that is driving public opinion. In one of the most outspoken public critiques yet from a senior British business figure, Ronson said that our society is being “fuelled by the continual negativity of envy” and [...]
King warns jubilee will hit economy March 27, 2012 THE JUBILEE bank holiday could push the economy back into contraction in the second quarter of the year, Bank of England governor Sir Mervyn King warned yesterday. An extra day off work to mark the Queen’s 60th year on the throne will hit output, King told a House of Lords committee, although he said it [...]
No 10 warns businesses as fears grow over fuel March 27, 2012 DOWNING Street has urged businesses to make contingency plans as fears grow of a strike by tanker drivers that could affect nearly 8,000 petrol stations. David Cameron’s spokeswoman said “people, especially businesses” should consider how to severe disruption in the event of a strike, which could be arranged for next week or for over the Easter [...]
Bundesbank: women execs are more risky March 27, 2012 BREAKING through the City’s glass ceiling could be about to get harder after a study claimed women in top banking jobs encourage risk-taking. Despite politicians such as Harriet Harman lamenting the lack of “Lehman Sisters” in the banking sector, researchers at Germany’s highly respected central bank have found that having more female board members in [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 27, 2012 FINANCIAL TIMES CLEGG REBUKES ARGENTINA Nick Clegg has rebuked Argentina for making “baseless insinuations” about Britain’s nuclear submarine deployments, ratcheting up tensions over the Falkland Islands in a clash in front of more than 50 world leaders. UNITED TECH FACES PROBE OVER GOODRICH United Technologies is to face an in-depth European Commission investigation into its [...]
City lawyer admits expense fraud March 27, 2012 A City lawyer faces a jail sentence after pleading guilty to defrauding his employer of almost £1.3m in false travel expense claims. Christopher Grierson, a former litigation partner at Hogan Lovells, admitted four counts of fraud yesterday at Southwark Crown Court, and will be sentenced on 3 May. The judge said it was “inevitable” that [...]
BBA says Libor will be changed March 27, 2012 The British Bankers’ Association has today ruled out a “big bang” reform of the Libor interest rate, saying it favoured gradual change, although rules may be tightened for contributing banks after allegations the global benchmark had been manipulated. The industry group put Libor under review last month amid allegations of rigging.