Worst rain on record keeps London’s shoppers at home August 19, 2012 GREATER London’s shops were the worst hit by the heavy summer rains compared to their rivals elsewhere in the country. Footfall plummeted by 8.9 per cent in May, June and July in Greater London compared to the previous quarter, according to data from the British Retail Consortium (BRC) and Springboard. The dramatic drop compares to [...]
Firms prosper as insolvency rate declines August 19, 2012 BUSINESS insolvencies fell sharply in July compared with the same month of 2011, according to research out today from Experian, with almost every region and sector registering an improvement. A total of 1,776 firms failed in the month, down on the 1,962 that failed in July 2011 – a drop of almost 200 despite the [...]
Anglo American nears deadline for Codelco deal August 19, 2012 ANGLO AMERICAN this week hopes to agree a deal with Chilean mining giant Codelco over the ownership of its multi-billion pound copper assets in the country. The two firms are working to a deadline of Friday to end a month-long legal row over the Anglo American Sur assets. Several options are on the table including [...]
Airlines ask for stats to back up calls to axe passenger tax August 19, 2012 AIRLINES have stepped up pressure on the government to scrap a lucrative tax on plane passengers, by commissioning an independent report on the cost of the levy to the UK economy. Virgin, IAG, easyJet and Ryanair have asked consultancy PwC to produce an objective report on the impact of air passenger duty (APD), which is [...]
Ryanair could dispose of Aer Lingus slots August 19, 2012 RYANAIR is said to have held talks about selling off Aer Lingus’ landing slots at Heathrow if its takeover bid is successful. The Irish carrier, whose latest €694m (£545m) bid for Aer Lingus was rejected last month, has spoken to Virgin Atlantic and other carriers about offloading the 23 take-off and landing slots, according to [...]
Vodafone eyes £3bn payout from Verizon August 19, 2012 VODAFONE could be set for a $4.5bn (£2.9bn) payout from its investment in American telecoms network Verizon Wireless, after US regulators gave the green light to the mobile operator’s expansion. America’s justice department agreed to Verizon Wireless’s purchase of extra spectrum from its rivals last week and analysts believe this will yield a healthy dividend. [...]
Bans on hidden costs floated August 19, 2012 Hidden charges on credit cards and phone lines are set to be banned under plans released today following a consultation on consumer rights. Lamb said the new proposals will “put an end to bad business practices and help consumers make well-informed decisions”. Specific charges targeted by the consultation include those on certain premium-rate phone numbers [...]
Virgin questions franchise loss August 19, 2012 Virgin Rail said yesterday it will be pushing the government to provide a more detailed response this week on why it lost the prestigious West Coast rail franchise that it has run for 15 years. A spokesperson for the firm said it hopes to receive feedback this week so it can decide whether to apply [...]
UK debt issuance at record high August 19, 2012 British firms are increasingly turning to the debt capital markets to raise funds, according to data provider Dealogic. UK corporate debt issuance has hit a record year-to-date high of $73.9bn (£47bn) as firms eschew other methods of raising funds such as selling stock. The average UK deal size is $786m, with UK corporate debt accounting [...]
Hula Hoops maker mulls snack sell off August 19, 2012 PRIVATE equity-backed firm United Biscuits is understood to have put its subsidiary KP Snacks, maker of McCoy’s, Hula Hoops, KP Nuts and Skips, up for sale, with Chinese firm Wahaha said to be leading the bidders yesterday.
