RBS managers to take reins of £1.1bn fund November 26, 2013 INVESTMENT managers at RBS are planning to take control of the bank’s Special Opportunities Fund with the aim of returning the unit to growth, it emerged yesterday. The unit, 13.5 per cent owned by the bank, has been administered by the lender since it was created but has been in its non-core portfolio since 2008. [...]
Hourican brings in RBS man at Bank of Cyprus November 26, 2013 BANK of Cyprus has called on a second former senior banker from Royal Bank of Scotland to lead its restructuring following this year’s international bailout of Cyprus. Euan Hamilton, formerly deputy chief executive of RBS’s non-core division, has joined Bank of Cyprus as a consultant to specifically look at the delinquency, restructuring and recoveries of [...]
Labour candidates’ doubts over mansion tax November 26, 2013 THREE potential London mayoral candidates have expressed doubts about a mansion tax for London. Labour MPs Dame Tessa Jowell, David Lammy and Diane Abbott all spoke out against a flat-rate of tax for property worth over £2m in the capital, signalling a departure from Ed Balls’s line on the policy. Jowell told an event organised [...]
Gatwick boss: It’s between me and Heathrow November 26, 2013 GATWICK’S boss yesterday pointed to a growing number of new routes and rising passenger traffic as proof the airport is the best place for an extra runway in the south east of England. Stewart Wingate is “highly confident” that Gatwick will be on the aviation commission’s shortlist for new capacity next month, repeating yesterday his [...]
Topps Tiles grows market share as profits rise for first time in six years November 26, 2013 SHARES in Topps Tiles surged more than six per cent yesterday after the retailer posted its first rise in adjusted pre-tax profit since 2007. The company, which has 327 stores, said adjusted pre-tax profit rose 2.2 per cent to £13m in the year to 28 September, although revenues were flat at £177.8m. “It has been [...]
Argos switches on power at its digital stores November 26, 2013 ARGOS said it is in talks with suppliers that could pay for space in its showrooms as the retailer unveiled the first of its new digital concept stores near Old Street yesterday. The familiar laminated catalogues have been scrapped in favour of iPads while wall-mounted digital screens have replaced the posters as part of the [...]
Britvic expands Fruit Shoot in US as sales rise November 26, 2013 BRITVIC yesterday posted an 18.8 per cent rise in annual operating profit and announced plans to expand its Fruit Shoot brand in the United States. The maker of Robinsons squash and Tango said operating profit in the year to 29 September was £135m up from £112.7m a year ago. Revenue rose 4.4 per cent to [...]
UK gaming firms start trading in new US market November 26, 2013 THREE UK gaming companies have been granted regulatory approval to operate online casinos in New Jersey, a gaming market that the state government said could be worth $1.2bn (£740m) a year. 888 Holdings, Bwin.Party and Betfair all began trading yesterday in the newly regulated state after the New Jersey Division of Gaming handed out seven [...]
Bottom Line: Roll the dice in the land of opportunity November 26, 2013 WHEN BRITONS think of New Jersey, their minds tend to drift to one of a few stereotypes: brash, drunk Italian-Americans (Jersey Shore); violent mafiosos (The Sopranos); or the long journey into Manhattan from its out-of-town airport (Newark). Yesterday it added to that list, by becoming the most populous US state to allow online gambling – [...]
Argos shuns own brand tablets in new stores November 26, 2013 IT HAS only been a matter of weeks since Argos heralded the launch of its own, super-cheap tablet, pitching the £99 MyTablet as the perfect budget choice – with built in Argos apps to help direct customers to making purchases from its other product ranges. So The Capitalist was surprised to see bright and shiny [...]
