Skandia cuts 20 sales roles December 10, 2012 SKANDIA, the financial services firm, yesterday announced plans to cut 20 jobs from its 100-strong sales team as part of a broader cost-cutting programme which will eventually see it shed 200 jobs. Steve Powell, sales director, said: “The new 80 strong sales team will be nimbler and more effective, with a strong leadership team.” The [...]
Top MP fears Finance reforms are rushed December 10, 2012 INFLUENTIAL backbench MP Andrew Tyrie yesterday warned the Financial Services Bill is being rushed, with the Commons being asked to pass reforms before the banking and treasury committees have studied it. “This is an object lesson in how not to do it,” he said.
Branson lays down £1m bet to BA’s Walsh December 10, 2012 VIRGIN founder Sir Richard Branson yesterday insisted that the brand will not disappear if a new investor takes a stake in his airline. As Delta nears a deal to buy Singapore Airlines’ 49 per cent stake in Virgin Atlantic, Sir Richard hinted that he will not give up control of the carrier. He wrote a [...]
Britons splashed out almost £42bn on technology in 2012 December 10, 2012 TECH-SAVVY UK consumers have spent almost £42bn on technology during 2012, an average of £934 per person, as they splashed out on new tablets and smartphones. But the single biggest outlay for Britons was on television packages, with 17 per cent of consumers spending more than £50 a month, according to research by online price comparison [...]
Vodafone and GSK link up on African vaccines programme December 10, 2012 BRITISH mobile phone network Vodafone and drug manufacturer GlaxoSmithKline yesterday launched a new project combining phones and drugs to increase vaccination rates in Africa. The one-year pilot project in Mozambique will see Vodafone and GSK register mothers on a database, and provide information and appointments for child vaccinations by text. It is hoped that child [...]
E.ON follows rival utilities to hike prices December 10, 2012 ENERGY provider E.ON has become the last of the “big six” energy firms to raise its prices, announcing yesterday that tariffs will increase from 18 January. E.ON, which is writing to each affected customer, said that the average dual fuel bill will increase by 8.7 per cent, while the average electricity-only and gas-only bill will [...]
Half-term holidays give a boost to Gatwick’s passenger figures December 10, 2012 HALF-TERM getaways helped Gatwick Airport post a 4.2 per cent rise in traffic during November, Britain’s second-busiest airport said yesterday. Gatwick credited the earlier autumn half-term break this year for some of the uptick, which took its passengers for the month to 2.23m. In the year to the end of November, traffic has risen 2.8 [...]
Savills fund focusing on prime London with first investment December 10, 2012 ESTATE agent Savills has made the first two purchases through its prime London residential fund, betting on adjacent Chelsea properties as demand for high-end living space in the capital continues to grow. Cordea Savills, the international property fund manager owned by Savills, has paid around £40m for a former chapel and a former college building between [...]
Great Portland street looks South December 10, 2012 PROPERTY developer Great Portland Estates (GPE) yesterday spent £60m to snap up office and residential building Minerva House, on the South Bank. The acquisition is the first since it raised £140.6m in a share placing last month. The six-storey block is leased to Ipsos Mori and Winkworth Sherwood. Rent totals £3.4m a year, with contracts [...]
Gold surprise at hedge fund Christmas bash December 10, 2012 TIS the season for the annual office Christmas party. Never an event to miss, and especially so for the employees of one particular City hedge fund, who will be pleasantly surprised when they sit down to their Christmas lunch this year. The founder of online bullion delivery company Bullion By Post, Rob Halliday Stein, tells [...]
