Smallest firms oppose the EU December 2, 2013 BRITAIN’S smallest companies are more likely to believe the EU is bad than good, a study showed yesterday. The study from Opinium Research showed 40 per cent of firms with fewer than nine employees think the EU membership is bad, more than the 38 per cent who favour it. That compares with big businesses, where [...]
US factories raise output December 2, 2013 MANUFACTURING output in the US grew at its fastest pace since January last month, a business survey from Markit showed yesterday. The purchasing managers’ index rose from 51.8 in October to 54.7 in November, showing an acceleration – a figure above 50 shows expansion. “We are seeing a surge in the production of capital goods [...]
Bank’s funding scheme triples in third quarter December 2, 2013 THE FUNDING for Lending Scheme (FLS) saw a spike in use during the third quarter, with the amount drawn from the programme more than tripling from the previous three months, according to official statistics released yesterday. Between July and September £5.524bn more was drawn from the system than repaid into it, a considerable increase from [...]
Blackwell confirmed as Sir Win’s replacement as Lloyds chairman December 2, 2013 LLOYDS Banking Group confirmed yesterday that Lord Blackwell, one of the bailed-out bank’s non-executive directors, will be promoted to chairman. Blackwell, a former consultant for McKinsey and the chairman of Lloyds unit Scottish Widows as well as FTSE 250-listed Interserve, will replace Sir Win Bischoff in April. He advised Margaret Thatcher’s government and served as [...]
Thyssen Krupp shares slump December 2, 2013 THYSSEN Krupp shares collapsed yesterday after the German steelmaker announced it was issuing 10 per cent of new shares to raise £745m of fresh capital. JP Morgan and Commerzbank were in the market last night re-offering the shares to institutions after buying them as a block. Over the weekend the group announced a buyer for [...]
Network Rail to open click and collect shops December 2, 2013 COMMUTERS will be offered the chance to pick up their parcels from the train station as part of a trial being run by Network Rail. The rail operator announced today that it will soon open the prototype branch of Doddle, its new delivery shop, in Milton Keynes Central. Visitors to the station, including around 3,000 [...]
Pawnbroker Albemarle & Bond sheds four more board members December 2, 2013 ALBEMARLE & Bond has now seen its board of directors halve in two months after four more directors stood down yesterday. Albemarle issued a profit warning last week saying that market expectations for its financial year are too optimistic, due in part to the company’s failure to publish its 2013 annual report because of current [...]
Cruddas wins another battle December 2, 2013 The Sunday Times has been denied the right to appeal against a decision that it libelled Peter Cruddas, the chief executive of CMC markets, over his fund-raising duties for the Conservative Party. In considering its application to appeal, the Rt Hon Lady Justice Sharp said journalists for the paper deliberately distorted and misrepresented what had [...]
Unilever’s audit goes to KPMG December 2, 2013 KPMG has won the contract to audit consumer goods group Unilever from next year, in an €18m-a-year deal that was previously held by PwC. Unilever said it would part ways with PwC on the audit mandate after 26 years and put the job out to tender in July. The decision followed a rule change forcing [...]
UBS plans to buy back debt December 2, 2013 Investment bank UBS yesterday said it will buy back a chunk of its own debt in a bid to shrink its balance sheet. The group said it will spend €1.75bn (£1.45bn) in cash to buy back five subordinated bonds and six senior unsecured bonds.“This transaction is consistent with our proactive approach to reducing our balance [...]
