George Osborne: Greek crisis could go from bad to worse July 6, 2015 Chancellor George Osborne has warned that the economic crisis in Greece has reached a “critical moment” with far-reaching consequences for the UK economy. “No-one should be under any illusions,” Osborne said yesterday in the House of Commons. “The situation risks going from bad to worse,” he added. “Britain will be affected the longer the Greek crisis [...]
Business group shocked by new weaker manufacturing figures July 6, 2015 A leading business group has said that it is surprised by new figures out today showing a sharp slowdown in UK manufacturing. The British Chambers of Commerce (BCC) quarterly economic survey (QES), based on responses from nearly 7,500 firms, recorded drops in all the key manufacturing balances in the second quarter, with most balances lower than [...]
EU investors unmoved by fear of a Grexit July 6, 2015 INVESTORS have “lost interest” in the Grexit, as the latest figures from behavioural finance experts Sentix reveal the Eurozone is booming regardless of uncertainty over Greece’s future in it. Despite the crisis surrounding Greece’s place in the currency union, estimates from Sentix’s survey reveal that investors are treating the Eurozone as if it’s in an [...]
American Apparel warns it may need more funds as costs are cut July 6, 2015 American Apparel, the troubled clothing chain embroiled in a legal battle with its founder and former chief executive Dov Charney, announced plans yesterday to slash around $30m (£19m) of costs in a bid to reverse sharp losses and turn itself around. The company said it will close underperforming stores and would cut jobs in order [...]
Amazon to recreate Black Friday deals frenzy for Prime members July 6, 2015 AMAZON is hoping to stir up the same shopping frenzy as Black Friday by launching a new global shopping day next week with thousands of promotional deals. The online retail giant is turning 20 years old next week and, as part of its celebrations, will launch Prime Day at midnight on 15 July, which it [...]
Revolution Bars toasts to jump in sales July 6, 2015 Revolution Bars, the owner of a chain of high street cocktail bars, hailed a strong start to its life as a public company as it reported a 2.9 per cent rise in annual sales to £111.8m. The group, which listed in March with a market value of £100m, said like-for-like sales rose three per cent.
City offices put off jobseekers July 6, 2015 Businesses may be losing out on picky employees as a new survey reveals that almost half of Londoners hate the office they work in. The survey, conducted by the Royal Institution of Chartered Surveyors (RICS), reveals that 48 per cent of London workers have issues with their desk space, while major office bug-bears include faulty [...]
Are you coming to the stan chart run? July 6, 2015 NEED some inspiration to get fit? Why not come along and support your fellow City workers at the Standard Chartered Great City Run on Thursday? The 5k slog will see financiers start off on City Road, racing in aid of blindness charity Seeing is Believing.
Velocys share price sinks after boss Roy Lipski is suspended July 6, 2015 Roy Lipski, chief executive of UK gas-to-liquid technology company Velocys, has been suspended pending an investigation into allegations of serious misconduct. Lipski has been head of Velocys, which operates in the US and the UK, since 2008 and has raised over $215m (£138m) from institutional investors since 2006. Velocys, which is majority owned by Russian [...]
Shawbrook bank shares dip as Iain Cornish becomes chairman July 6, 2015 EX-BANK of England regulator Iain Cornish been appointed as chairman of challenger bank Shawbrook, replacing former RBS boss and Shawbrook chair since 2011 Sir George Mathewson. Cornish left the Bank of England in March to become senior independent director of debt manager Arrow Global and wealth manager St James’s Place. Shawbrook was the last in [...]
