Canaccord Genuity UK thumps home a record rise in revenue February 5, 2014 CANACCORD Genuity yesterday reported record revenues at its UK and European capital markets arm, thanks to increased activity in investment banking and advisory. The company said revenues in the UK and Europe for the three months ending December rose to $65.7m (£40.2m), a 53 per cent increase on the previous quarter and a new record [...]
Economists find just 40pc of cuts already in place February 5, 2014 WAGES will finally climb clear above the rate of inflation this year, a leading think tank said yesterday, yet it also warned that the government is merely 40 per cent of the way through planned spending cuts. The Institute for Fiscal Studies said that most – 84 per cent – of the UK’s planned tax hikes [...]
MPs blast G4S and Serco on housing deal February 5, 2014 OUTSOURCING firm Serco yesterday faced a bashing from a committee of MPs over its management of an asylum seeker housing contract, less than a week after its ban on winning new government work was lifted. Margaret Hodge, chair of the public accounts committee, grilled executives from FTSE 100-quoted Serco, peer G4S and smaller firm Clearsprings [...]
KPMG fears harm to recovery as regulators drag out bank reform February 5, 2014 THE WAVE of red tape hitting banks is so variable, unpredictable and poorly planned that lenders cannot respond effectively, a KPMG report warns today. World leaders had hoped to co-ordinate regulation after the financial crisis to put the whole banking industry around the world on an even footing. But KPMG is concerned each county is coming [...]
Coca Cola shows thirst for coffee as snaps up 10pc stake in firm February 5, 2014 COCA Cola is set to snap up a tenth of Green Mountain Coffee Roasters (GMCR) sending the firm’s shares soaring in after hours trading. The coffee company’s results for the three months to the end of December showed profits of $138.2m (£84.72m), an increase of 28 per cent from the same period last year. Net [...]
Google avoids a £3bn fine with EU antitrust deal February 5, 2014 GOOGLE will avoid a fine from the European Union (EU) Competition Commission which could have amounted to up to £3bn, after it agreed to make concessions on how it displays competitors’ links on its website yesterday. Google has been the subject of a Competition Commission investigation into its search practices since 2010 when complainants, including [...]
PM’s £100m flood pledge February 5, 2014 DAVID Cameron has announced an extra £100m to help flood-hit areas of the UK recover after wind and rain battered the country. The funding will be spent on repairs, maintenance and defences, with £10m ring-fenced for the Somerset Levels. It is coming from an EU contingency fund within the Department for Environment, Food and Rural [...]
Banks and energy firms fear for independent Scotland’s stability February 5, 2014 FINANCE and energy firms make up a major part of the Scots economy but will be among the hardest hit by independence, business secretary Vince Cable warned yesterday. The minister said bank RBS would “inevitably” move its headquarters to London if union was ended. “If you were managing RBS, you almost certainly want to be in [...]
London office rents to hit record high by 2018, says Knight Frank February 5, 2014 A RETURN of confidence in the economy and a bounce-back in demand for space will see London office rents reach a record high by 2018, according to research out yesterday by Knight Frank. Rents for prime office space in the City rose by 9.1 per cent to £60.00 per square feet last year compared with [...]
Royal Mail float helps deliver Hargreaves lift February 5, 2014 FUND platform Hargreaves Lansdown yesterday said strong demand from retail investors for shares in Royal Mail helped deliver a rise in revenues and new business. The company, which operates as an online investment supermarket where DIY investors can buy funds, said revenues rose 13 per cent year on year for six months ending December to [...]
