Minimum wage set to jump to £6.50 per hour February 26, 2014 THE MINIMUM wage is set to rise by three per cent to £6.50 per hour, after the Low Pay Commission yesterday recommended the increase in a long-awaited report to the government. The report advises ministers that despite increases in the minimum wage over recent years its value has fallen due to inflation, but stops short [...]
Credit Suisse on the defensive in US tax probe February 26, 2014 CREDIT Suisse’s top bosses defended the bank’s record on tax evasion, claiming they had fought the practices vigorously since 2008, in a hearing yesterday with US senators. A damning report from the lawmakers found evidence that staff at the Swiss bank had schemed to avoid being caught by the US authorities when helping American clients [...]
Ofgem to keep letting firms sell to themselves February 26, 2014 OFGEM yesterday said it had ruled out the possibility of putting self-supply restrictions on the big six energy firms, despite calls from Labour and independent suppliers to limit the practice. A spokesperson from the energy regulator told City A.M. that it had no plans to prevent the big six firms – which have both generation [...]
Inside Track: Essar deal could hurt JP Morgan February 26, 2014 IN the ultra-polite language of the City, even the biggest failures among departing bosses often leave with good wishes and gratitude for their contribution ringing in their ears. So when blue-chip fund managers dispense with pleasantries and bandy words such as “cynical” around, it’s clear that somebody is seriously unhappy. Having bought Essar Energy shares [...]
Markit’s float at risk from EU’s collusion probe February 26, 2014 INVESTORS in Markit fear the European Commission’s probe hanging over the market data firm could derail or delay its planned stock market flotation, City A.M. understands. The group is 51 per cent owned by a consortium of hedge funds and investment banks, some of whom are looking to cut down or even completely sell off [...]
Bottom Line: AO could be the next online retail success February 26, 2014 WHITE goods retailer AO.com has done little to dissuade comparisons with Asos, the phenomenally successful online fashion retailer that floated 13 years ago – when it announced listing plans earlier this month it even named former Asos chairman Brian McBride (also an ex-Amazon UK managing director) to its board. Yesterday’s 32 per cent rise in shares [...]
How wearable tech is set to disrupt business February 26, 2014 in Barcelona WEARABLE gadgets are set to be one of the most disruptive trends in business over the next 18 months, according to a report from Deloitte yesterday. A range of smartwatches – like Samsung’s Galaxy Fit and Sony’s Smartband – were announced this week at Mobile World Congress, and are among some of the [...]
Android gaming revenue growth far outpaced Apple during 2013 February 26, 2014 ANDROID gaming revenues grew 400 per cent during 2013 as games like King’s Candy Crush Saga and Gungho’s Puzzle & Dragons pushed spending on mobile games to a record high. Gaming on Apple’s iPhones and iPads saw only a doubling of revenues during the same period, according to a report from IDC and App Annie [...]
Bluetoothbrush keeps tabs on your teeth February 26, 2014 DENTAL hygiene is going high tech with Oral B’s new bluetooth toothbrush, which records your brushing habits and then feeds information back to your dentist. The £199 toothbrush, launched this week, also pairs with a mobile app that warns if you’re not brushing enough.
ITV rules out bid for Channel 5 as studio booms February 26, 2014 ITV YESTERDAY insisted it had no plans to bid for rival Channel 5, but said it was on the lookout for other acquisitions to add to its booming Studio business. Speaking as the broadcaster posted a 30 per cent rise in pre-tax profits to £435m for 2013, chief executive Adam Crozier said ITV would not [...]
