Investment banks join long list of City competition probes February 19, 2015 BANKS are facing their 26th competition investigation in a decade as the City watchdog yesterday announced a new probe into the investment and corporate banking industries. The Financial Conduct Authority’s (FCA) move adds to existing investigations into the current account and savings markets, the small business banking sector, and the wider wholesale markets, leaving banks [...]
A better future – if we embrace growth – Editor’s Letter February 19, 2015 WHO owns the future? With the Eurozone apparently powerless before the once unthinkable prospect of a Greek exit, and with Ed Miliband’s Labour trying to drag British politics back to the 1970s, optimism seems to be as weak as winter sunshine. Yet I found a new source of hope this week, in the Pew 2014 [...]
Labour rakes in more money than Tories in pre-election battle February 19, 2015 The Labour party received more money in the last quarter of 2014 than the Conservatives, new figures revealed yesterday. Electoral Commission data revealed that £10.9m was received by Labour between October and December 2014, compared to £8.4m for the Tories over the same time period. The Labour sum includes £3.7m of public money, from a [...]
Funds in High-Wire act for Cirque du Soleil February 19, 2015 Some of Britain’s biggest buyout funds are plotting to take control of Cirque du Soleil, the Canadian live entertainment company. BC Partners, CVC Capital Partners and Permira Advisers are among a troupe of financial investors which have tabled indicative offers for the Montreal-based business, according to Sky News.
Total bond price sends investors into overdrive February 19, 2015 FRENCH oil firm Total lit up the market yesterday after issuing a €5bn (£3.7bn) hybrid bond. The company stoked market interest last week with its plans to put the deal for securities, combining the characteristics of equity and debt, on the market. Although investors were expecting it to be valued at €3bn, they were apparently [...]
Asda sets out its £600m expansion plans as price cuts weigh on sales February 19, 2015 ASDA yesterday revealed plans to spend £600m on creating new stores and improving existing ones after the Wal-Mart-owned chain posted an accelerated decline in quarterly sales. Britain’s second largest food retailer has been one of the most stable over the past two years and was the first to take action against the discounters in 2013 [...]
Hotels hail record January after falling fuel costs boost spending February 19, 2015 The hotel industry has shrugged off the usual New Year seasonal hangover after recording its strongest figures since 2010, accountants at BDO said yesterday. Falling petrol prices, supermarket price wars and an increase in wage growth has helped contribute to more cash in consumer pockets and boost spending on travel. Research from BDO shows regional [...]
Adobe celebrates 25 years of Photoshopping February 19, 2015 Image editing software Photoshop, famous for its use by glossy magazines and tabloid newspapers in retouching photos of celebrities, turned 25 yesterday. Adobe’s Photoshop was first sold to the public in 1990 with this picture, taken by co-creator Thomas Knoll, being the first photoshopped image in 1987.
Energy price falls prompt British Gas owner to slash dividend February 19, 2015 CENTRICA, Britain’s largest utility company, yesterday slashed its annual dividend by 21 percent and forecast further cuts on the back of declining energy prices. New chief executive Ian Conn, appointed in January, also announced a strategic review to be concluded in time for the company’s interim results in July. Conn said: “2014 was a very [...]
City watchdog in investment banking probe: What will the FCA do and who’s involved? February 19, 2015 Big investment banks may be too dominant in some areas of the industry, limiting competition and hurting companies and consumers, the Financial Conduct Authority (FCA) warned yesterday. Prices are not always transparent enough to allow firms to compare banks effectively, the FCA said. The watchdog has received complaints that shares in major deals are allocated to [...]
