InterContinental Hotels delivers strongest quarter in two years October 21, 2014 InterContinental Hotels Group (IHG) has reported its best quarter in two years, with revenue per available room (Revpar) jumping seven per cent from the same time last year, growing in every region. In the first nine months of the year, Revpar grew 6.3 per cent. The FTSE 100 company said it was given a significant [...]
William Hill profits boom despite 82 shop closures October 21, 2014 Bookmaker William Hill has seen its operating profit soar 89 per cent in the third quarter, with favourable sporting results playing in the Group's favour. Group net revenue climbed 23 per cent. Net revenue growth reached nine per cent reflecting the benefits of World Cup wagering and a favourable sports margin. Furthermore, the bookies' investment [...]
Total CEO Christophe de Margerie killed in Moscow plane crash as his aircraft collides with snow-clearing machine October 21, 2014 The CEO of Europe's third largest oil company Christophe de Margerie has been killed after a collision between his private jet and a snow-clearing machine at Moscow's Vnukovo airport. Russian authorities said the incident had involved a Falcon-50 plane, with the collision occurring a little before midnight local time. Visibility was reported to have been [...]
UK skills shortage: Bad hires cost businesses £14,000 each October 20, 2014 The skills shortage is an oft-cited obstacle for small firms, but now new research has found each bad hire costs businesses £13,799. Ouch. The research, by Sandler training, found a shortage of good applications means over half of small businesses admit to having made bad hires. More than a quarter of small businesses blamed their [...]
Bank of England’s RTGS payment system suspended due to “technical issue” October 20, 2014 The Bank of England's (BoE) Real Time Gross Settlement (RTGS) payment system has fallen foul of a technical glitch, causing the BoE to suspend the service until the problem is resolved. The situation is something of a nightmare for bankers: the system transfers money between banks in real time, acting as an intermediary, and is [...]
Government support for Saatchi Bill could mean dying patients are given untested drugs by March October 20, 2014 A Bill proposed by Lord Saatchi to give dying cancer patients access to unlicensed drugs could come into force by March, after the government and doctors voiced their support. Supporters of the Medical Innovation Bill, which will allow patients to volunteer for treatments using unlicensed drugs, believe it has a 75 per cent chance of [...]
Shire interim finance chief James Bowling switches to Severn Trent October 20, 2014 Shire's interim chief financial officer (CFO) James Bowling has informed the company's board that he will be stepping down to pursue a career at the FTSE 100 water company Severn Trent. Bowling will exit Shire at the end of the first quarter of 2015. Flemming Ornskov, Shire's Chief Executive Officer, commented: James has helped build [...]
Islamic State terror plot: Four London men accused of swearing allegiance to IS and using Google Street View for “hostile reconnaissance” October 17, 2014 Scotland Yard has announced that four London men have been charged with intention to commit acts of terrorism. The men have been of accused of swearing an oath to the terror group Islamic State. Furthermore, it is alleged the men were attempting to buy a pistol furnished with silencer. Scotland Yard said the men are [...]
Goldman Sachs brings bad news for the French economy October 17, 2014 One of the world's biggest investment banks is asking some probing questions about France's beleaguered economy. Last week, President Francois Hollande's socialist government suffered a fresh blow when rating agency Standard & Poor's cut its credit outlook to negative due to the country's sluggish performance. Here's what Goldman Sachs thinks the future holds for the [...]
Bank of England’s Andrew Haldane: Interest rates could stay lower for longer October 17, 2014 The Bank of England's chief economist Andrew Haldane has warned that interest rates may need to be kept lower for longer due the deteriorating state of the world economy. The BoE kept rates at their record lows of 0.5 per cent last week citing concerns over health of the global recovery, lacklustre wage growth in [...]
