Apprenticeship ultimatum: PM February 17, 2015 DAVID Cameron laid out his welfare policy yesterday that would come in he is re-elected in May. The Prime Minister said young people would have to do an apprenticeship, daily volunteering, or lose benefits after six months on the dole. Cameron would replace the Jobseekers Allowance for 18 to 21 year olds with a Youth [...]
French to push business reforms February 17, 2015 French Prime Minister Manuel Valls yesterday defied critics by declaring he would ram through parliament a flagship economic reform bill, by decree, bypassing backbench rebels but exposing his government to a no-confidence vote. The package, which includes broadening trading hours, is aimed at spurring growth and persuading the European Commission to give Paris more time [...]
Samsonite takes off with airport luggage retailer February 17, 2015 SAMSONITE has found a home for its bags after snapping up the airport retail chain Rolling Luggage yesterday from turnaround specialist Rcapital in a £15.75m deal. The Hong Kong-listed luggage-maker said the deal would help to provide a platform for its brands while also giving it a foothold in the booming travel market as airports [...]
InterContinental hikes dividend as hotel sales cause revenue dip February 17, 2015 INTERCONTINENTAL Hotels Group said sales from its guest rooms jumped last year thanks to strong growth in the US, despite the sale of two hotels causing overall revenue to slide. The owner of Holiday Inn, Crowne Plaza and InterContinental said revenue per available room (Revpar) – a key industry measure – rose 6.1 per cent [...]
Online shoppers don’t proceed to checkout in Jan February 17, 2015 THE BLACK Friday and Christmas shopping bonanza has led to a slow-down in online retail sales in January, according to the latest monthly figures from industry analysts IMRG and Capgemini. Sales slumped by 25 per cent compared with the previous month as consumers recovered from the festive shopping period, the IMRG Capgemini e-retail sales index [...]
Suitors circling as losses widen at UK’s Monitise February 17, 2015 INVESTORS in struggling mobile transactions firm Monitise spotted a ray of hope in the firm’s interim results yesterday as it reported “constructive” discussions after putting itself up for possible sale last month. Shares surged 16.28 per cent despite Monitise reporting an 8.8 per cent slump in revenues to £42.4m and wider losses of £58.4m during [...]
Vodka Revolution owner plans to sell down stake via London float February 17, 2015 REVOLUTION Bars Group, the owner of UK high street bars Vodka Revolution and Revolucion de Cuba, is preparing a London stock market float by the end of March. The group, which owns 58 bars in towns and cities across the country, yesterday announced its intention to list, in a move that could value Revolution at [...]
Tycoon Desmond Bloom makes property market return with £12.5m haul February 17, 2015 A listed cash shell set up four years ago to make acquisitions in the music and media industry has been resurrected, this time with the aim of spending £100m on UK property. Imperial Music and Media, which is run by property tycoon and one-time boxer Desmond Bloom, said yesterday it had bought a portfolio of [...]
London’s house prices fall 2.3pc over six months February 17, 2015 LONDON’S house price boom ground to a halt at the end of 2014, official figures showed yesterday, while prices across the rest of the country continued to rise modestly. The average British property in December cost £272,000, up 0.7 per cent on the month and 9.8 per cent on the year. By contrast, London homes [...]
Mortgage lending eases off as buyers’ frenzy draws to a close February 17, 2015 The boom in mortgage lending over 2013 and 2014 came to an end by the final months of last year, industry data showed yesterday. Last year saw a total of 676,900 home-owner purchase loans, up 11 per cent on the year and the highest number since 2007. By value, they amounted to £112.7bn, a rise [...]
