Post Office to serve banks’ customers November 9, 2010 Royal Bank of Scotland (RBS) and NatWest customers will be able to access current and business accounts at Britain’s 12,000 post offices after the government ditched plans for a state-backed Post Office bank. The agreement means post offices will provide services for 80 per cent of current accounts in Britain, postal affairs minister Edward Davey [...]
BRIEFS | LEGAL NEWS November 9, 2010 MORE LEAVE SJ BERWIN The movement of staff from SJ Berwin to Irwin Mitchell continues. Twelve associates from SJ Berwin are to make the move, following a four-strong real estate team moving last month. Three of the associates will join at partner level. The new arrivals will work in real estate, real estate finance, and [...]
Allen & Overy sees revenues rise as Asian business grows November 8, 2010 CITY law firm Allen & Overy (A&O) said yesterday its sales increased three per cent in the six months to 31 October with over half of its turnover generated outside of the UK. The Magic Circle firm said it saw strong performances across its Asia-Pacific region. Moscow and New York offices all contributed to revenue [...]
Exports give German GDP growth hope November 8, 2010 German exports soared in September while industrial output faltered, indicating Europe’s largest economy will post solid if unspectacular third quarter growth later this week as the recovery eases. Exports grew twice as fast as expected in September, up 3.0 per cent on the month when seasonally adjusted, and the trade surplus reached its widest in [...]
Dow rockets after Fed stimulus boost November 4, 2010 US stocks extended a rally that started in September to close at two-year highs yesterday, a day after the Federal Reserve unveiled a plan to boost the economy. A bullish read on consumers also boosted shares as many retailers posted stronger-than-expected sales for October. The S&P retail index gained 1.7 per cent and apparel maker [...]
Chequing in with the best November 4, 2010 In a wonderful example of stating the obvious, the Office of Fair Trading yesterday published evidence that retail banking in Britain isn’t very competitive. For most people, that will probably come as no surprise. Though customer service has been getting better in almost every other industry, in retail banking limited weekend opening hours, unhelpful call [...]
Nissan lifts forecast thanks to sales hike November 4, 2010 Nissan Motor lifted its annual guidance and posted a doubling in quarterly operating profit as the popularity of new cars such as the March/Micra subcompact helped offset currency losses. Nissan, owned 43 per cent by France’s Renault, is on its way to outselling Honda to become Japan’s second-biggest automaker this year as its market share [...]
BP sees profit despite $40bn Gulf spill costs November 2, 2010 BP revealed the enormous full cost of the Gulf of Mexico spill yesterday, as it posted a 63 per cent drop in profit that still managed to beat forecasts. The UK-listed oil giant said the disaster in April has cost $39.9bn to date, including a $20bn fund set aside for compensation claims. The company booked [...]
AIB kicks off search for chief executive November 1, 2010 Allied Irish Banks (AIB) has put the sale of its British businesses on hold after failing to get any decent bids, its new chairman said yesterday, meaning the government may have to take an even larger share in the lender. Dublin is already set to take a stake of over 90 per cent in AIB [...]
The housebuilder who is ready to take the long road back to recovery October 31, 2010 DESPITE the generally depressed state of the housebuilding and residential property market, Taylor Wimpey’s chief executive Peter Redfern says he is pretty pleased with business. But sitting in the boardroom of his London office, his mood appears more reflective than upbeat. “Prices are very stable at the moment,” says Redfern. “Stable is good for us. [...]