Rental sector needs million new homes March 26, 2012 AN EXTRA one million new homes are needed for Britain’s rental sector, a survey revealed this morning, as a shortage of properties sends costs rocketing for tenants. Rents have shot up by an average of 5.2 per cent over the last year, with Savills expecting an eye-watering 20 per cent spike over the next five [...]
Border Agency slammed for big flaws in student system March 26, 2012 THE UK Border Agency was slammed by the government’s watchdog this morning, over its implementation of new rules on foreign students coming to Britain. Labour MP Margaret Hodge, chair of the committee of public accounts, said: “This is one of the most shocking reports of poor management leading to abuse that I have seen.” Before [...]
Inflation expectations for this year are steady at 2.7 per cent March 26, 2012 INFLATION is expected to stay above the Bank of England’s two per cent target in the coming year, according to a YouGov survey released yesterday. Expectations in March eased down slightly to a median rate of 2.7 per cent, from 2.8 per cent in February. Predicted price pressures remain well below the mid-2011 peak of [...]
Taste for the exotic boosts Barr’s profits March 26, 2012 EXOTIC JUICES BUMP UP AG BARR’S PROFITS SOFT drinks maker AG Barr saw revenues jump 6.6 per cent to £237m last year, buoyed by strong growth in its exotic juice range. The Cumbernauld, Scotland-based company said pre-tax profits were up 6.2 per cent to £33.6m, excluding exceptional items, led by high demand for Rubicon and [...]
Ofgem plans to get tough on gas suppliers to fight theft March 26, 2012 ENERGY regulator Ofgem wants gas suppliers to pay money into an industry-wide pot to cover the cost of fighting gas theft, a problem that has cost consumers £138m per year since 2009, the watchdog said yesterday. Suppliers are expected to implement all changes proposed by the regulator by the end of 2013 and could face [...]
Roche digs in as pharma firm extends Illumina bid March 26, 2012 ROCHE Holding yesterday extended its $5.7bn (£3.6bn) cash bid for US gene decoder Illumina for a second time as the Swiss drugmaker sticks to its M&A strategy of playing a long game. Roche is offering $44.50 per share for Illumina, but analysts expect the company ultimately to raise its offer for the San Diego-based group. [...]
Smiths Group wins Doha contract March 26, 2012 Technology firm Smiths Group has won a €100m contract to provide airport security detection machines to Doha Airport, as the Qatari hub renews its systems ahead of the football World Cup in 2022. The deal, announced yesterday, is the biggest single-airport contract that Smiths’ detection arm has ever won, and will see the company supply [...]
Wessex rejects Total approach March 26, 2012 Wessex Exploration has rejected any potential offer that Total was planning to make for the firm, deeming the suggested offer price “inadequate”. Total revealed earlier this month it was considering making a 10p-per-share offer for the Aim-listed oil and gas explorer, valuing it at around £72m. But Wessex said yesterday that after consulting with shareholders [...]
Big Yellow on a pre-downturn high March 26, 2012 Big Yellow said yesterday its March occupancy level will be above the previous September’s level for the first time in five years. The storage company said wholly-owned occupancy of its 32-strong portfolio is at 64 per cent, up from 59.3 per cent this time last year. The group, which last week discovered its service could [...]
CITY MOVES | WHO’S SWITCHING JOBS March 26, 2012 Strategic Minerals The iron ore producer and exploration company has announced the appointment of George Cardona as non-executive director, with immediate effect. Cardona was formerly a special adviser at the Treasury, and spent the first half of his career in banking and politics, notably at HSBC. He left HSBC in 2000 and formed Cardona Lloyd, [...]