Renters still itch to own as price increases begin August 4, 2013 THE VAST majority of people renting property still dream of owning a home in the future, according the a Rightmove survey released today. The survey of over 3,000 tenants suggested that 96 per cent see home ownership as their ultimate goal, and 70 per cent are ready to continue trying to get on the property [...]
Double income families to get childcare boost August 4, 2013 FAMILIES with two working parents are set to receive up to £1,200 per child each year towards childcare, under new government plans. The government is this morning set to announce a formal consultation on the £1bn scheme, which was proposed earlier this year. The taxpayer-funded help will be introduced in 2015, with working families able [...]
What the other papers say this morning – 5 August 2013 August 4, 2013 FINANCIAL TIMES Lloyds boss targets profit for dividend Antonio Horta-Osorio, chief executive of Lloyds Banking Group, has said he aims to start paying out up to 70 per cent of the bank’s earnings in dividends within three years as he seeks to attract investors ahead of the sale of the government’s stake. Lloyds has not [...]
Stelios is set to take on budget supermarkets August 4, 2013 ON THE ground floor of a tower block in Croydon, Sir Stelios Haji-Ioannou plans to open the first of many low-cost supermarkets under his Easy brand. Stelios said yesterday the pilot store, at the bottom of the former Metlife building recently purchased by EasyGroup, will serve as “a low risk experiment in a new market [...]
Co-op bondholders expect MPs to probe controversial rescue August 4, 2013 BONDHOLDERS who stand to lose out under the Co-op Bank’s rescue plan are expecting MPs to probe the deal after the summer recess, they told City A.M. yesterday. Mark Taber, who is campaigning on behalf of more than 1,600 Co-op bondholders, said he is “quite sure” the Treasury select committee is preparing to haul Co-op [...]
Former First Direct boss to front £1bn offer for 316 RBS branches August 4, 2013 A CONSORTIUM led by the former head of online bank First Direct is preparing a £1bn bid for 316 branches being sold by Royal Bank of Scotland. Alan Hughes is working with a group comprised of private equity firms Blackstone and Anacap, which plans to make an offer for the branches as an unofficial deadline [...]
Vodafone sues Telecom Italia for over €1bn August 4, 2013 VODAFONE Group is suing Telecom Italia for abusing its dominant position in Italy, seeking damages of more than €1bn (£868m). A Vodafone spokeswoman said the civil action in Milan stated that Telecom Italia committed a series of abuses from 2008 to 2013 “with the intention and effect of impeding growth in competition in the Italian [...]
Boris Bike workers prepare for 48-hour strike over pay dispute August 4, 2013 WORKERS at the Barclays Cycle Hire scheme will go on strike for two days next week, transport union RMT confirmed yesterday. Around 63 workers will join the action, which begins at 9pm on Sunday, lasting 48 hours. The RMT is citing the imposition of a pay rise limited to two per cent, shift pattern changes [...]
Fitness First to spend £78m on revamps and overseas growth August 4, 2013 FITNESS First is to inject £77.5m to revamp its clubs and fund its overseas expansion as the world’s largest gym chain gets back into shape following last year’s restructuring. The group, which has around 375 clubs and franchises worldwide, announced plans today to spend £29m on opening 15 sites across Germany, India, and Asia. It [...]
Hands eyes sale of green energy company Infinis August 4, 2013 GUY Hands, the private equity tycoon who failed in a buyout of record label EMI, has reportedly placed the UK’s largest independent renewable energy generator up for sale. Infinis – which produces seven per cent of Britain’s renewable electricity through landfill, hydro-electricity and wind farms – was acquired by Hands in 2003 for a value [...]
