Federal Reserve upbeat on growth prospects thanks to collapse in price of oil January 7, 2015 Falling oil prices should give another boost to the economy, officials at the Federal Reserve said yesterday, despite the damage being caused to US oil and gas producers. Minutes from the Federal Open Markets Committee’s latest meeting show the policymakers believe the net effect will be positive. The price is falling both because of strong supply [...]
NatWest website crash: Millions of customers affected as bank hit by another online systems failure January 7, 2015 Millions of NatWest customers were unable to make payments through the bank’s website yesterday, as the system crashed for more than four hours. The failure is the latest in a series for the RBS and NatWest group, which is engaged in an expensive struggle with outdated IT systems. A key cause of this problem is [...]
UK car sales hit 10-year high in 2014: High consumer confidence and boost to industry January 7, 2015 The number of new cars sold in the UK reached a 10-year high in 2014, new figures show. Over the whole of last year 2,476,435 new cars were registered, according to figures released yesterday by the Society of Motor Manufacturers and Traders (SMMT). It was the fourth-best year of all time regarding the [...]
Sainsbury’s hit by worst Xmas sales in 10 years January 7, 2015 SAINSBURY’S said yesterday that a surge in demand for its top-end food ranges and clothing helped the retailer beat Christmas forecasts, despite posting its first drop in festive sales in over a decade. Like-for-like sales, excluding fuel, dropped by 1.7 per cent in the 14 weeks to 3 January, as total sales fell by 0.4 [...]
Regulatory mistakes cannot be avoided completely, MP Andrea Leadsom admits January 7, 2015 Financial services firms cannot be sure that the regulator will not make mistakes similar to the mishandled media leak which sent insurance stocks plunging last year, a Treasury minister admitted yesterday. Andrea Leadsom, the economic secretary and City minister, stated: “We would all hope that something like that wouldn’t happen again. But it shows that [...]
Charter Court Financial Services launches new challenger savings bank – high interest and online-only January 7, 2015 Britain is set to get another savings bank as the wave of new firms receiving licences from the regulator continues to grow. Charter Court Financial Services yesterday said it had gained approval from the Prudential Regulation Authority to launch Charter Savings Bank. It will be an online-only savings bank, and its establishment opens up a new channel [...]
Operations for bosses leaves UBM rudderless January 7, 2015 BRITISH events group UBM announced yesterday it would be without its chairman and chief executive officer for at least two months, with both having taken medical leave to recover from operations. Chairman Dame Helen Alexander is currently recovering from a recent unspecified operation and is expected to return to work in March. Chief executive Tim [...]
Bookseller Foyles turns over a new leaf as Christmas sales rise January 7, 2015 Foyles yesterday posted a surge in sales over Christmas as bookworms flocked into its newly refurbished stores at the Royal Festival Hall and in Charing Cross. The bookseller said like-for-like sales increased by 8.1 per cent in December, with sales up 18.2 per cent at the Royal Festival Hall branch. Its flagship bookshop at 107 [...]
Majestic Wine share price tanks 17pc after pricing competition warning January 7, 2015 Shares in Britain’s largest specialist wine retailer Majestic plummeted 17 per cent in trading yesterday after it warned the increased pricing competition that saw it cut profit margins over Christmas would continue into 2015. The Watford-based company’s 1.1 per cent like-for-like sales growth over the 10-week Christmas period was a heavy decline on its 2.8 [...]
Boohoo in tears as shares hit by profit warning January 7, 2015 BOOHOO’S shares plunged more than 40 per cent yesterday after the online fashion retailer issued a profit warning, blaming heavy discounting across the UK high street. The company, which made its debut on London’s junior market in March, said price cuts by high street rivals looking to shift jumpers and coats following warm autumn weather [...]
