Tesco closures prompted by discount rivals January 29, 2015 DISCOUNT rivals Aldi and Lidl could be the reason that supermarket giant Tesco decided to shut 43 of its stores. The retail group announced earlier this month that it was closing unprofitable branches across the UK, and yesterday revealed which stores it had singled out. Of the 43 listed, 74 per cent are within two [...]
Guinness-owner Diageo may take over as lead Premier League sponsor January 29, 2015 Drinks group Diageo could be the latest company seeking the highly-coveted rights to the title sponsorship of the Premier League. A bid is likely to be tabled in the coming weeks, Sky News reported. A spokesperson for the company said: “With global brands such as Guinness, Smirnoff and Johnnie Walker, sponsorship plays an important role [...]
Manufacturers want Heathrow expansion plan January 29, 2015 HEATHROW’S bid to build a third runway received a boost this morning after a leading business group added support for the plan just days before a consultation on airport expansion options closes. EEF, the manufacturers’ organisation, conducted a survey that reveals 80 per cent of companies surveyed back expansion of Heathrow over rival Gatwick. The [...]
German prices fall as money printing nears January 29, 2015 GERMANY is set to become a major beneficiary of the Eurozone’s bond buying programme – set to start in March – according to a city consultancy. Figures from Lombard Street Research (LSR) show that the country with the largest proportion of its bonds to be bought will be Germany. If so, the purchases could come [...]
Mutuals deny risky securities January 29, 2015 BUILDING societies’ new capital instruments are being unfairly classed as risky investments, the mutuals’ trade body said yesterday. The core capital deferred shares (CCDS) play a similar role to a bank’s shares, and carry the same risk. But the City watchdog wants to limit an investor’s exposure to five per cent of their total investable assets [...]
Banks hurt by market fixing January 29, 2015 BANKS were harmed by market rigging, a top Bank of England executive said yesterday, arguing that only individual traders or their teams benefited from the wrongdoing. Andrew Hauser said direct financial harm and reputational damage show market abuse was the work of a few unauthorised culprits. He wants to ensure “professional demise for themselves and [...]
House building yet to reach needed levels January 29, 2015 THE NUMBER of new houses built increased at a healthy pace last year, but still remains below pre-crisis levels. The total number of new houses built in 2014 was 145,174, according to the National House Building Council (NHBC). It marks an increase on the 133,670 new homes registered with the NHBC in 2013. In London, the number of [...]
London property market boom loses steam as it enters the new year January 29, 2015 LONDON house prices finished 2014 growing more slowly than they had done earlier in the year, but still at rates far above the average for England and Wales. The average price of a residential property in the capital was £464,936, according to figures released yesterday by the Land Registry. The average London price was 16.3 [...]
Nationwide says price growth is easing off January 29, 2015 THE HOUSING market continued to come off the boil in January, according to a leading mortgage lender. Year-on-year price growth slowed to 6.8 per cent in January from 7.2 per cent in December, figures released yesterday by Nationwide show. It marks the fifth month in a row in which house price growth has declined. “The further moderation [...]
US fruit and nut cases sour over Hershey’s ban on British-made Cadbury’s chocolate January 29, 2015 Life has become less sweet for lovers of British-made Cadbury’s chocolate in the US after Hershey struck a deal to prevent it being sold in the country. Hershey, which owns the licence to make and sell Cadbury products in the US – but with different recipes – struck a deal with Let’s Buy British (LBB) [...]
