Plain packaging sets scene for Irish court battle March 3, 2015 IRELAND has become the first country in the EU to pass a law requiring the plain packaging of cigarettes. The bill, which must be signed by the country’s president, makes Ireland only the second country in the world to remove branding from tobacco products. The packaging will be dark and plastered with warnings about the [...]
Hyperion boss David Howden states ambition for new group after RK Harrison merger March 3, 2015 The merger between Hyperion Insurance Group and RK Harrison (RKH) has not put an end to David Howden’s plans to float his company. Howden revealed grand ambitions for the combined business, and said that the last time a broking company was built up from scratch to this extent was “when Pat Ryan did it [...]
Investors toast new pub boss sending Punch shares higher March 3, 2015 PUB OPERATOR Punch Taverns announced the appointment of its new chief executive yesterday, giving Duncan Garrood the top job. Investors seemingly approved the selection, with shares closing up 5.73 per cent to 92.25p. The news of the appointment comes as the indebted company has undergone two years of restructuring, which saw share prices fall 73 [...]
Earnings finally return to their pre-crisis levels March 3, 2015 INCOMES have finally recovered to pre-recession levels, new research reveals today. Projections from the Institute for Fiscal Studies (IFS) suggest average median household income in the year to April 2015 (2014-15) is at around the same level it was in 2007-08, before the recession. The figures are adjusted for changes in the prices of goods [...]
Surging construction activity boosts British economic outlook March 3, 2015 CONSTRUCTION firms reported an acceleration in growth, new survey data show. The construction purchasing managers’ index (PMI) released by Markit yesterday jumped to a score of 60.1 in February from January’s 59.1. A score above 50 indicates growth, with higher figures implying faster growth. Construction activity is continuing to rebound from a 17-month low it [...]
UK takeovers drop to lowest level since 1987 March 3, 2015 THE NUMBER of takeovers and mergers involving UK companies dropped in 2014 to its lowest level since records began 28 years ago. There were 376 domestic and cross-border acquisitions completed during 2014 compared with 437 in 2013, according to figures released yesterday by the Office for National Statistics (ONS). The takeover of UK companies by other [...]
Clothing bargains lead to 22nd month of shop price deflation March 3, 2015 FALLING prices of non-food items such as clothing and DIY goods have dragged overall shop prices down for the 22nd month in a row. Figures released by the British Retail Consortium (BRC) and Nielsen today show that shop price deflation accelerated to 1.7 per cent in February after falling by 1.3 per cent in January. [...]
TGI Fridays to serve up 700 new UK jobs March 3, 2015 TGI FRIDAYS, the American restaurant chains owned by private equity firm Electra, said it plans to open six new restaurants in the UK by the end of 2015, creating 700 jobs including 100 management level positions. Chief executive Karen Forrester said that by the end of the year it will have reached at least 70 [...]
Partnership Assurance share price down as annuities drop March 3, 2015 Retirement specialist Partnership Assurance saw shares fall by 6.59 per cent yesterday after reporting new business premiums of £791m in 2014, around two thirds of their level in 2013. The company also announced a £100m bond issue to majority shareholder Cinven, with the stated aim of gaining “further financial flexibility” to grow the business in [...]
Results improve at Jardine Lloyd Thompson as boss hails US unit March 3, 2015 BRITISH insurance group Jardine Lloyd Thompson (JLT) said yesterday that it is confident in the firm’s revenue momentum after reporting a 13 per cent increase in revenue during 2014, up to £1.1bn. The company also posted an improved profit before tax, rising from £154m to £160m, and increased its dividend by 6.3 per cent to [...]
