Negotiator hits out at BP over firm’s behaviour in Gulf talks August 15, 2013 BP’S LEGAL tactics aimed at capping the financial blowout from the 2010 Gulf of Mexico oil disaster will backfire, according to Joe Rice, negotiator of last year’s settlement on behalf of over 100,000 compensation claimants. In March BP began to contest the way payouts were being made under the PSC settlement, saying too many undeserving [...]
Tourists spent record amount in UK this June August 15, 2013 TOURISM to the UK shot up in June, with a 12 per cent increase in the number of overseas visitors compared to the same month in 2012. In total, June saw 2.89m visits to the country, with 15.24m made between January and June this year. The June numbers were flattered by a poor June last [...]
Derwent rides the east London tech belt wave August 15, 2013 DERWENT London has snapped up an office block near Old Street’s Silicon Roundabout for £30m as it looks to capitalise on growing demand for space in the area from expanding technology firms. Chief executive John Burns said the 61,000 square feet building at 1 Mark Square in Shoreditch was “right in the hotspot location” in [...]
Battered Coalfield surges after positive outlook for property August 15, 2013 COALFIELD Resources, the troubled coal mining turned property company, soared nearly 30 per cent in trading yesterday after a bullish half-year update. The Doncaster-based company offloaded its mining interests in December and now focuses solely on the sale and development of land around former collieries in the north of England. The company owns a 24.9 [...]
Rush for fund liquidations cuts number of European products August 15, 2013 THE NUMBER of investment funds on offer across Europe shrank last quarter after fund liquidations surged 27 per cent, figures out yesterday show. Despite an uptick in the number of bond fund launches, the number of funds across Europe fell by 425 for the three months ending June versus the previous quarter. The figures follow [...]
Tissues at the ready for latest John Lewis ad August 15, 2013 PLEASE please, please let me get what I want – a reasonable deal on my home insurance. John Lewis, purveyor of homewares and heart-rending Christmas advertisements, is branching out into insurance ads with a fresh tear-jerker from Adam&eveDDB, the agency that brought us last year’s snowman offering. The £5m campaign, to be aired on Saturday, [...]
Personalised car plates adding £2.3bn to the value of Britain August 15, 2013 THE OFFICE for National Statistics appears to be making the most of the summer lull. Yesterday’s data on the net worth of the UK included changes to the usual stats, among them the astonishing news that “personalised or cherished number plates for vehicles” represent a £2.3bn boost to the country’s price tag. Small [...]
Thomson Local bought out of administration August 15, 2013 DIRECTORY services brand Thomson Local was bought out of administration by two serial entrepreneurs yesterday. Thomson Local, which sends out 22m copies of its UK business directory and maintains several websites, appointed Grant Thornton as administrator on Wednesday, following several tough years. The Hampshire-based firm posted a net loss of £732,000 for 2011, [...]
H&M comparable sales fall during June for the first time since March August 15, 2013 THE WORLD’S second-biggest apparel retailer Hennes & Mauritz yesterday unexpectedly posted a small decrease in July like-for-like sales, the first monthly drop since March. Sales in stores open at least a year at the Swedish budget fashion firm were down one per cent in local currencies in July from a year earlier. Total sales in [...]
AZ Electronic Materials shocks investors with gloomy outlook August 15, 2013 AZ ELECTRONIC Materials yesterday warned that demand for its chemicals is likely to be more sluggish than expected, sending its shares down as much as 10 per cent. AZ, which supplies the chemicals used in Apple’s iPad, revealed that revenues were one per cent lower at $363.7m (£232.5m) in the first half of the year, [...]
