UK finance lifted by growth in last quarter of 2013 March 10, 2014 THE COMPETITIVENESS of the UK’s financial sector is improving with the general economic upswing, according to research seen exclusively by City A.M. TheCityUK’s latest assessment of the sector’s health brings together 23 different factors that affect finance and indicate whether the industry is improving or declining. A majority of the basket of indicators are improving again, for [...]
Bank’s deputy governor says low rates will be a new norm March 10, 2014 BANK of England deputy governor Charlie Bean said yesterday that interest rates will likely not return to pre-crisis levels even after they begin to rise. Speaking at a dinner for the North East Chamber of Commerce, Bean said that bank rates may only return to relatively low levels. “When the Bank rate does rise, it [...]
Brown: Keep Scotland in by ceding power March 10, 2014 FORMER Labour Prime Minister Gordon Brown has called for greater devolution for Scotland, in a bid to prevent the break-up of the United Kingdom later this year. The MP for Kirkcaldy and Cowdenbeath said in a speech yesterday that the Scottish parliament should be given more power over employment, health, transport and the economy; with [...]
High street hit by bad weather as shoppers turn to the web March 10, 2014 RETAILERS recorded a small rise in total sales in the year to February, up 0.7 per cent from the same month in 2013, according to the British Retail Consortium (BRC) and KPMG. The data, released today, suggest that while total sales were up marginally, like-for-like transactions fell by one per cent in comparison to February [...]
Another seven-year wait for real wages to hit 2008 level March 10, 2014 AVERAGE real wages will not return to their pre-crisis peak for another seven years, despite the recent economic upturn, according to a new forecast today. PwC says the effect of stagnant wage growth and above target inflation means real earnings will sit below 2008 levels until 2020, 12 years after the crisis. The group added [...]
Finance bosses bullish on sales March 10, 2014 NEARLY 70 per cent of financial directors (FD) are anticipating higher sales this year, as firms look to strengthen cash on their balance sheets, a poll finds. The study, by Capita and Financial Director magazine, found just eight per cent of FDs thought sales would fall. The buoyant mood is matched by an appetite to [...]
Fyffes to merge with Chiquita in appealing deal March 10, 2014 TWO OF the world’s largest banana rivals Fyffes and Chiquita unveiled a merger yesterday to create a $1bn (£600m) banana behemoth. US-based Chiquita and Irish-based Fyffes will come together in an all stock deal, creating a new $1.1bn company called ChiquitaFyffes listed on the New York Stock Exchange. The deal, which still requires approval from [...]
Bottom Line: A fruitful combination that could slip up March 10, 2014 IN POPULAR word game Bananagrams, players compete against their opponents to create a grid of connected words – like a crossword – in the shortest possible time. It’s a race to use up all the tiles on the table, and a breeding ground for familial disputes as speedy players let phoney spellings slip (unintentionally or otherwise) through [...]
Travelex warms up for IPO with rising earnings March 10, 2014 FOREIGN exchange shop Travelex yesterday confirmed it is hoping to float on the stock market after a period of investment in its overseas business and technology division drove profits higher. The firm, a fixture of airports around the globe, said it was exploring a number of strategic options for the group, which included an initial [...]
Mothercare takes baby steps with interim hire March 10, 2014 MOTHERCARE yesterday announced it had hired retail veteran Mark Newton-Jones as its interim chief executive as it searches for a long-term boss for the struggling business. Newton-Jones, who takes up the reins next Monday, was chief executive of the internet and home shopping business Shop Direct for nearly a decade, until July last year. His [...]
