Spending on the UK high street knocked by January snowstorm January 23, 2013 BRITAIN’S ailing high street has been dealt another blow by the cold snap of weather felt in recent weeks, data from Visa revealed yesterday. Spending through Visa dipped by more than four per cent in the last week, compared to the same time a year ago, the company reported. Deterred from hitting the shops, some [...]
Cost of raising a child jumps to £220,000 January 23, 2013 THE COST of raising a child has soared 58 per cent in the last 10 years, pushed up by the price of childcare and education. Figures released this morning estimate that raising a child until the age of 21 leaves a £222,458 hole in parents’ pockets, on average across the UK. Insurance firm LV=, which compiled [...]
Confident Dubai raises $1.25bn as it returns to the bond market January 23, 2013 THE GOVERNMENT of Dubai cemented its comeback to the bond markets late on Tuesday, comfortably selling $1.25bn (£787m) in notes as the Middle Eastern state takes advantage of its improved image among investors. It launched both a $750m 10-year Islamic bond – known as a sukuk – as well as offering a more conventional $500m 30-year bond. [...]
House prices in US climb 5.6pc in the 12 months to November January 23, 2013 HOUSE prices in the US shot up by 5.6 per cent in the year to November, according to a widely-observed survey released yesterday. Prices of American homes climbed 0.6 per cent in November, compared to the previous month, according to the Federal Housing Finance Agency (FHFA). The FHFA compiles data from new mortgages owned or guaranteed [...]
Flybe axes jobs and cuts costs to stem losses January 23, 2013 REGIONAL airline Flybe is cutting 300 jobs as part of its plan to stem losses by saving £35m a year. The carrier, which has been hit hard by falling profitability on its short-haul flights, said 20 per cent of its management will be cut, while executive directors are forfeiting one month’s wages this year as [...]
Record revenues for Channel Tunnel as freight delivers gains January 23, 2013 EUROTUNNEL hopes that Britons will continue to use the Channel Tunnel while the UK reassesses its relationship with the Continent, after the firm posted record revenues for 2012. “I would recommend that Great Britain remains in Europe,” said chief executive Jacques Gounon, who thinks the vast majority of his customers support Britain’s place in the [...]
Big Yellow raises £37m in placing January 23, 2013 Big Yellow said yesterday it had successfully sold 10m new shares as part of a fundraising to expand its self-storage sites, pay down debts and give bigger dividends to shareholders. JP Morgan led the placing for Big Yellow, raising £37m through the offering to existing shareholders and new institutional investors. Members of the board, including chairman [...]
Britvic plots Fruit Shoot growth January 23, 2013 Britvic yesterday posted a 4.8 per cent rise in first quarter revenue and said it would accelerate distribution of its troubled Fruit Shoot drink in the US and also launch it in Spain this year. The drinks company whose profits last year were hit by a costly recall of the children’s drink over faulty caps, [...]
Finsbury Food sales edge higher January 23, 2013 Finsbury Food Group, the cake and gluten free bread manufacturer, said revenues in the first half of the year rose 1.3 per cent to £103m, in line with management expectations. The company’s cake business grew two per cent to £1.1m. However Lightbody Europe, the Group’s 50 per cent owned joint venture business, was hit by [...]
City Moves for 24 January 2013 | Who’s switching jobs January 23, 2013 Lloyds Commercial Banking Anthony Williams has been appointed head of consumer services and entrepreneurs at Lloyds. He joins from Westhouse Securities, the advisory firm. Williams has over 25 years’ experience in banking, and has also held roles at ABN Amro/RBS, most recently as head of consumer sector advisory. Altius Associates Joachim Suter has been appointed [...]
