Heston’s vision lifts opticians May 13, 2014 HESTON Blumenthal’s partnership with Vision Express helped the opticians deliver record sales and profits last year as customers snapped up his range of glasses. The celebrity chef designed a range with the firm in 2012, which it said was the most successful launch in Vision Express’s history. “Heston pays amazing attention to detail and we [...]
Price for Card firm narrows May 13, 2014 RETAILER Card Factory has narrowed the price guidance on its London initial public offering to £2.25 to £2.40, two sources familiar with the deal said yesterday. The new guidance, at the lower end of the original price range, gives Card Factory an equity value of £767m to £804m, according to the sources . Books for [...]
Bank of England warns too big to fail is not fixed May 13, 2014 BANKS face a new round of capital raising and restructuring to make sure key functions like payments systems are protected in a future bank collapse, a top Bank of England executive warned yesterday. Although banks have built big capital buffers since the financial crisis, deputy governor Sir Jon Cunliffe warned that the so-called too big [...]
Watchdog hits Cheque Centre May 13, 2014 PAYDAY lender the Cheque Centre yesterday agreed to stop offering loans which can only be repaid on one lump installment, under pressure from City watchdog the Financial Conduct Authority. The FCA took over regulation of the sector last month and has told payday lenders to prove they are treating customers well. The agreement also means the Cheque [...]
Funds to make charges clear May 13, 2014 INVESTMENT funds must publish their fees for customers in a clear and standardised way to avoid misleading clients, the Financial Conduct Authority ruled yesterday. Firms will have to publish the ongoing charges figure (OCF) rather than the annual management charge (AMC), in a bid to give customers clear information on fees. Funds will also have [...]
City pay rises start to outstrip inflation as confidence returns May 13, 2014 ALMOST half of finance firms in the UK are increasing pay and bonuses this year, according to figures out today from recruiter Robert Half. In Britain, 42 per cent of finance bosses expect to hike pay, almost in line with the 44 per cent who will do the same around the world. Of those who [...]
Opec maintains forecast for oil demand in 2014 May 13, 2014 THE ORGANISATION of the Petroleum Exporting Countries (Opec) yesterday maintained its forecast for world oil demand growth in 2014 and predicted “a fairly balanced market this year”, ahead of a meeting in Vienna next month to consider adjusting its output target. In its monthly report, Opec maintained its forecast that global oil demand will rise [...]
Ofgem chief warns Ukraine crisis could increase UK energy prices May 13, 2014 AN ESCALATION of the Ukraine situation could push up UK energy prices, the chief executive of regulator Ofgem warned yesterday. Around one third of Europe’s gas comes from Russia, the majority through Ukraine, which has provoked fears of a supply shortage if Moscow cuts off supply amid escalating tensions with the West. While the UK [...]
E.On UK supply profits fall but earnings from generation rise May 13, 2014 ENERGY giant E.On yesterday said revenue and profit for its UK supply arm fell in the first quarter of the year, due to milder weather. Profit from the big six supplier division slipped to £177m from £213m in 2013, while turnover dropped to £2.34bn from £2.57bn. But profit from generation and upstream activities in the [...]
Rusal forecasts strong growth in demand for aluminium in China May 13, 2014 THE WORLD’S largest aluminium producer UC Rusal yesterday said it expects strong growth in demand from China this year, as it reported flat first-quarter revenue and a fall in output. The Moscow-headquartered company forecasts global aluminium demand of six per cent this year, with a 10 per cent increase in China, the world’s largest consumer [...]
