3 threatens to exit UK market May 20, 2012 3, the UK’s fourth largest mobile network provider, is continuing its crusade against its bigger rivals. Last month Canning Fok, managing director of Hutchison Whampoa, the Hong Kong-based conglomerate that owns 3, threatened David Cameron that the company could withdraw from the UK telecoms market unless 3 is guaranteed some airwaves in the upcoming auction [...]
Punch Taverns fires gun on debt swap talk May 20, 2012 PUNCH Taverns is said to have started talks with its lenders over a debt-for-equity swap that would give the pub group a much-needed lifeline. Britain’s biggest pub operator is bearing a £2.3bn debt mountain, amassed from a string of acquisitions over the past few years. Under the proposed plans, Punch Taverns’ lenders would forgive the [...]
Vodafone set for dividend hike tomorrow May 20, 2012 VODAFONE is set to report its full year results tomorrow and analysts are expecting a mixed bag. City consensus predicts a drop in operating profits to £11.4bn from £11.8bn last year, dragged down by troubled European markets. Revenues are set to rise slightly from £45.9bn to £46.2bn, with pre-tax profits climbing from £11bn to £12.8bn. [...]
Odey hedge fund buys stake in emergency pager firm Buddi May 20, 2012 HEDGE fund Odey Asset Management has bought a multi-million pound stake in emergency pager company Buddi, according to reports. The deal could see a senior member of Odey take up a place on the board of the privately run Buddi, which is headed by chairman Lord John Stevens and is bidding for a lucrative government [...]
Apple and Samsung bosses begin settlement discussions May 20, 2012 THE CHIEF executives of Apple and Samsung will today meet in a judge-supervised setting in an attempt to settle a legal dispute over patents. A jury trial is scheduled for July to assess Apple’s claims that Samsung has infringed copyright in the design of its smartphones and tablets. Samsung was served with a 373-page complaint [...]
Falling supply lifts London’s house prices May 20, 2012 LONDON’S house prices rose strongly in April, again outstripping the national market, industry data revealed today. Meanwhile a new study shows most parents support their children in buying houses, with 11 per cent giving over £100,000, underlining the tough state of the market. Average asking prices throughout the UK stayed unchanged in the month to [...]
Complex pay plans and delayed bonuses ruin work incentives May 20, 2012 EXECUTIVE pay plans are so complicated that they fail to properly motivate staff, a study from PwC and the London School of Economics warned today, striking a blow to campaigns which push for more deferred remuneration. Executives tend to be “risk averse,” and so do not like complexity and place little value on deferred pay, [...]
Parents’ confidence hit as fears grow for children’s finances May 20, 2012 MOTHERS are more gloomy than ever in fearing that their children have fewer opportunities than they did when they were growing up, a new study showed today. According to a survey by Asda Mumdex, kids remain mum’s top priority, which is why they are spending twice as much on them as they put away in [...]
Squeeze on UK consumers is getting deeper May 20, 2012 LOW WAGE rises and high inflation increased the pressure on consumers in April and May, two reports showed today, threatening to keep the economy in the doldrums. Lloyds’ figures show spending power fell 0.9 per cent in April as incomes fell 1.6 per cent once inflation is taken into account. As a result, consumers have [...]
Pensions savings at record low despite rising retirement hopes May 20, 2012 MOST Brits are failing to save enough for their retirement, even though their forecasts of how much they will need to be comfortable in old age has increased, according to a report published today. Pensions savings hit a record low this year, Scottish Widows’ annual pensions survey revealed. The average saver believes they would feel [...]
