Rating agency puts Royal Mail above its rivals September 22, 2013 ROYAL Mail has been given a better financial health rating than any other post or parcels companies in the world, boding well for the government’s planned flotation of the postal service in the coming weeks. Independent US rating company Rapid Ratings said that Royal Mail had “changed dramatically” in the past two years, ranking it [...]
Builders blame council red tape for UK’s shortage of new houses September 22, 2013 COUNCILS are attaching onerous conditions to planning permissions, holding back construction work and so stopping builders from meeting rising demand for houses, the Home Builders’ Federation (HBF) warned today. Rising prices and tweaks to the planning rules have prompted a rise in permissions – the first six months of 2013 saw 77,686 granted, up 26 [...]
Higher wage bill would hit small business September 22, 2013 NEARLY half of small firms already paying staff at or above the amount advocated by the living wage campaign, according to new research. A survey by the Federation of Small Businesses (FSB) suggests that 49 per cent of firms already pay their staff at or above the amount that the campaign is pushing for, but [...]
Ofgem supports campaign to cut switching time September 22, 2013 REGULATOR Ofgem today said it supports First Utility’s campaign to reduce the time it takes customers to switch suppliers, a move that it is claimed could save UK households a total of £1.5bn per year. First Utility, an independent energy provider that is vying to break the stranglehold of the so-called big six, today launched [...]
EY to hike headcount by 2,000 September 22, 2013 PROFESSIONAL services giant EY is hiring another 3,700 staff at all levels over the coming nine months, a recruitment push that is expected to increase its overall headcount by around 2,000, the group said last night. As the economic recovery takes hold the group, formerly called Ernst and Young, is expecting an increase in demand [...]
Autumn price rises of up to 10 per cent expected at British Gas September 22, 2013 BIG SIX energy supplier British Gas is expected to raise its prices by up to 10 per cent this autumn, far above the inflation rate and a greater increase than last year. Reports claim that the firm will raise its prices in the next few weeks, in time for the winter when most gas and [...]
Private equity firms consider bidding for TSB September 22, 2013 LLOYDS has reportedly received a number of approaches from private equity firms looking to buy its TSB business, which was split from the state-backed bank earlier this month. US-headquartered firm JC Flowers is among the interested parties, according to the Sunday Telegraph. New York-based AnaCap is also believed to have expressed an interest. The approaches [...]
Foxtons chief executive makes £52m from oversubscribed float September 22, 2013 FOXTONS chief executive Michael Brown has made £52.2m by reducing his stake in the estate agent to 8.8 per cent on Friday’s oversubscribed public offering. The London flotation raised £335m for selling shareholders, including majority owner private equity group BC Partners, and management such as Brown. Brown had 45.5m shares before the listing, selling 22.7m [...]
Greece expects primary budget surplus for 2013 September 22, 2013 GREECE and its lenders are close to agreeing that Greece will achieve a primary budget surplus this year, a senior Finance Ministry official told reporters yesterday after senior Greek and EU and IMF officials met. Hitting a primary budget surplus, before interest payments, is key for Greece because it would trigger a clause in its [...]
Lambert wants US banks to join standards body September 22, 2013 RICHARD Lambert, former director general of the Confederation of British Industry, who was appointed by Britain’s biggest banks to set up a new independent banking standards body on Thursday, is calling for the big US banks to sign up. The body will be independent from the banking industry, and has been initiated following a recommendation [...]
