New guidance issued for payday loan company advertisements June 4, 2015 NEW GUIDANCE has been published on the regulation of adverts for payday loan products, designed to prevent ads from trivialising taking out short-term high-cost loans. The Committee of Advertising Practice’s rules, which come into immediate effect, say that ads must be responsible to the audience and society, and should not encourage consumers to make ill-considered [...]
Smith & Nephew share price tilts south as medical giant pulls hip device June 4, 2015 Medical device manufacturer Smith & Nephew was forced to announce its plans to withdraw one of its hip-replacement systems as it required too many post-operative follow-ups. The 46mm model in question will be withdrawn from its Birmingham Hip Resurfacing system due to concerns it does not meet the standards set by health watchdog, Nice. [...]
Confident Brits set for new car purchase record June 4, 2015 NEW CAR sales are being tipped by analysts to break their all time annual record this year after they increased for the 39th consecutive month in May. Brits registered 198,706 new cars last month, according to data from the Society for Motor Manufacturers and Traders (SMMT). The figure is up 2.4 per cent on the [...]
Competition probe into Greene King’s Spirit Pub takeover moves on to consultation stage June 4, 2015 Greene King’s proposals to the Competition Market Authority (CMA) regarding its acquisition of the Spirit Pub Company reached consultation stage yesterday. The consultation comes after the regulator raised concerns about the £774m merger shortly after it was announced in May. At the time the authority said the current proposal would “substantially” lessen competition in the [...]
Moneycorp profits up on boom in international payments unit June 4, 2015 Foreign exchange provider Moneycorp increased its gross profits by 26 per cent on the year in the first quarter of 2015, its financial results show today. Its earnings rose from £22.7m in the first three months of 2014 to £28.6m in the same period of this year. Retail growth was relatively subdued, with revenues up five [...]
Distil shares fall as Liqueur sales stall June 4, 2015 Shares plunged in London-based spirits firm Distil yesterday after the maker of Jago Vanilla Cream Liqueur recorded a disappointing year ending 31 March. Revenues fell from £2.4m to just £666,000. However, the firm’s pre tax losses narrowed to £289,000.
Young’s Seafood to go it alone as part of takeover June 4, 2015 YOUNG’S Seafood, the Grimsby-based fish manufacturer, will be hived off into a standalone company as part of a takeover of its owner Findus Group. Consumer group Nomad Foods, which owns fish finger maker Birds Eye, on Wednesday said it was in exclusive talks with the owners of Findus Group to buy the group. Findus yesterday [...]
Private equity firm 3i in €250m packaging company investment June 4, 2015 PRIVATE equity firm 3i announced it had agreed to invest around €250m (£183m) in Weener Plastic Packaging Group (WPPG) yesterday. WPPG, which specialises in the design of packaging products for the personal care, food and beverage markets operates in 15 countries, employing 2,000 people. 3i is expected to support management at the German-based firm, which generated [...]
J Crew sales facing sales dip June 4, 2015 Sales have fallen at US clothes retailer J Crew, which opened its flagship European store in London in 2013. Its J Crew brand, which accounts for around 90 per cent of total sales, faced a sales dip of five per cent to $508.7m in the quarter ending 2 May. Its net loss widened to $462.4m, [...]
France expects higher growth June 4, 2015 THE BANK of France expects the country’s economy to pick up this year, putting an end to three years of stagnation. Meanwhile, unemployment fell for the first time since 2012. The Eurozone’s second largest economy surprised most economists when it grew 0.6 per cent during the first three months of the year, faster than the [...]
