Ban on card charges considered December 22, 2011 A crackdown on confusing credit card charges is on the way, the government will announce today. The Treasury is looking at banning excessive surcharges on credit and debit cards across most retail sectors, and will publish a consultation in the New Year. The new rules would be introduced by the end of 2012, two years [...]
Apple falls as Android leads smartphone sales December 22, 2011 APPLE’s crop is suffering in Europe due to increased competition and the troubled economy as Android nabs the top spot in the smartphone market, the researcher Kantar Worldpanel ComTech has revealed. While the iPhone 4S has been flying off British and American shelves, customers in continental Europe have been less enthralled by the company’s latest [...]
CITY VIEWS: Are you optimistic about the COMING YEAR FOR THE CITY? December 22, 2011 JAMES ALLCOTT ACCENTURE “Yes. I think with all of the banking changes there will be lots of work for management consultants, which is good for us, but whether this change is good for the City as a whole I’m not sure!” MAURICE TRATTON ARGENTA HOLDINGS “I’m not optimistic or pessimistic, because there is a different [...]
SAINSBURY’S FAIL TO DELIVER THIS CHRISTMAS December 22, 2011 UP TO one hundred Sainbury’s shoppers were disappointed when a website malfunction caused delivery slot bookings to be cancelled, resulting in lost Christmas orders. The UK’s third largest grocer said it has offered a gesture of goodwill – although it would not specify what – to the customers for whom a suitable alternative could not [...]
Anglo hits back at Codelco December 22, 2011 The row over Anglo American’s Chilean business heated up yesterday, with the mining group taking legal action against Codelco, its partner in the country. Anglo has filed a writ alleging breach of contract against Codelco. At issue is Anglo’s deal to sell a 24.5 per cent stake in its Chilean business to Mitsubishi for $5.39bn [...]
Toyota predicts 20pc growth December 22, 2011 Toyota has forecast a 20 per cent jump in 2012 sales to a record 8.48m vehicles, as it recovers from output losses triggered by natural disasters in Japan and Thailand this year. The Japanese company, the world’s top carmaker since 2008, is set to lose its crown to US rival General Motors after supply-chain disruptions.
Hansteen buys Spencer assets December 22, 2011 Britain’s Hansteen Holdings has bought property assets from the Spencer Group for £150m, as the industrial property investor looks to expand its portfolio of assets in the UK. The properties are almost one third vacant and will generate £4m in rent a year.
CITY MOVES | WHO’S SWITCHING JOBS December 22, 2011 SWIP Scottish Widows Investment Partnership has confirmed Francis Ghiloni as director of distribution and client management. Ghiloni, who joined SWIP in March 2010 as head of group partnerships, has held the role on an interim basis since June. Based in Edinburgh, Ghiloni reports to SWIP’s managing director Dean Buckley, and will be responsible for SWIP’s [...]
BEST OF THE BROKERS December 22, 2011 BEAZLEY Nomura rates the insurance group as “neutral” with a target price of 135p, after it confirmed its interest in fellow Lloyd’s insurer Hardy on Wednesday. The broker notes that Beazley will probably need external financing if it pushes ahead with the deal, as an improving rate outlook and interest from other parties could push [...]
S&P is set to finish higher for the year December 22, 2011 US stocks rose yesterday, putting the S&P 500 on the cusp of finishing out the year higher as another decline in jobless claims pointed to further improvement in the labour market. The S&P rose for a third day in seasonally light volume that has contributed to sharp swings recently. With the benchmark index near break-even [...]
