Metro Bank sees jump in commercial lending May 1, 2014 Metro Bank has reported a surge in commercial loans to £960m, a year-on-year increase of 298 per cent and a rise of 27 per cent in the quarter to 31 March. The insurgent bank established in 2010 also saw deposits rise to £1.6bn, a 131 per cent increase from the previous year. Britain's first new [...]
Worst ice cover in 30 years slashes Great Lakes trade May 1, 2014 Thick ice cover over the world's largest group of fresh water lakes is causing a vast backlog of grain shipments and other commodities. North America's Great Lakes account for nearly a third of combined Canadian and US output, jobs and exports, according to a report by the Bank of Montreal. The Great Lakes endured over [...]
UK manufacturing jumps as demand strengthens May 1, 2014 Markit's manufacturing purchasing managers' index (PMI) shows the UK rising to 57.3 in April, a five-month high and substantially up from March's 55.8. The surge in output has provided a further boost to optimistic views on the prospects for UK growth. "This reinforces our belief that the economy is firmly on track to achieve growth [...]
Rolls Royce confirms ongoing talks with Siemens May 1, 2014 Rolls Royce has said it expects to take a hit on profit at its marine business of 10 per cent, compared to the previous year. The news comes after the UK-based aerospace company suffered a £30m one off charge to "rectify a product quality issue." Rolls Royce said it remains in talks with Siemens over [...]
BSkyB sees surge in new TV subscribers May 1, 2014 BSkyB has reported a slowdown in profit before tax to £793m for the nine months to 31 March, compared to £966m for the same period the previous year. The FTSE 100 company saw revenue climb by seven per cent to £5.6bn, with earnings per share suffering a fall of 3.4 per cent 42.2p. New paid-for [...]
Japanese shares climb as Fed continues to taper May 1, 2014 Japanese shares have risen after a solid performance on Wall Street and the Federal Reserve delivered a favourable view of the US economy, despite a major slowdown in the first three months of the year. US GDP growth reached just 0.1 per cent on an annualised basis. Economists had forecast a rise of a little [...]
The government’s crackdown on betting shops: A solution to a non-problem April 30, 2014 The government has unveiled tighter rules governing fixed odds betting terminals (FOBTs) and has given councils greater powers to prevent the spread of betting shops. Bookies hoping to set up a new shop can now be stopped from doing so by councils refusing to accept planning applications. Under the old system, book makers were able [...]
Britain’s cheapest burger? It’s not where you might think April 30, 2014 Where can you find Britain’s cheapest average high street burger meal? If you answered McDonalds, you’re absolutely wrong. Bargain-basement burgers In fact since 2008 the price of McDonald’s Big Mac, the fast food chain’s most popular burger, has jumped by more than 30%, according to research from stockbroker Shore Capital. Having remained at £2 for [...]
Which UK industry has been left out of the rise in zero hours contracts? April 30, 2014 Businesses in the UK's financial industry are the least likely to make us of zero hours contracts, according to figures released by the Office of National Statistics (ONS). The proportion of businesses in the finance sector using zero hours contracts, which do not guarantee a minimum number of hours of work, came to just seven [...]
Next hikes guidance after sales jump April 30, 2014 Retail giant Next has reported a boom in brand sales of 10.8 per cent for the thirteen weeks to 30 April. Retail sales rose by 8.8 per cent, with the Next directory climbing 13.7 per cent. The FTSE 100 company's sales are now 4-8 per cent ahead of the full year guidance it gave in [...]
