Consumer organisations call for regulation of PPI claims May 14, 2012 LEADING consumer organisations yesterday joined with banks to demand the government institutes tougher regulations on claims management companies (CMCs). Mis-selling scandals involving products such as payment protection insurance (PPI) have created a mini-industry of firms that say they will help consumers access compensation. But some of these firms retain up to a third of the [...]
Poundstretcher hires new chief May 14, 2012 Poundstretcher has hired Richard Kirk, the former boss of womenswear retailer Peacocks as its new chief executive. Kirk stepped down from the debt-laden retailer in January after it fell into administration in the biggest collapse in the retail sector since Woolworths in 2008. Before joining Peacocks in 1996, Kirk working as managing director of Iceland [...]
Thomas Cook shares take a dive May 14, 2012 Shares in Thomas Cook plunged more than 10 per cent yesterday after the tour operator warned its shareholders this weekend that it was in danger of administration if they failed to support two planned disposals at its general meeting next week. The company said some of the debt lifelines it secured earlier this month will [...]
Ally Financial in bankruptcy filing May 14, 2012 Ally Financial’s mortgage unit yesterday filed for bankruptcy as the auto lender said it will sell some international operations to help it repay $12bn (£7bn) in bailout money. Ally’s mortgage unit, called ResCap, filed for bankruptcy protection in federal court in Manhattan.
Cable in plea to business after Hague attack May 14, 2012 VINCE Cable was forced to defend his cabinet colleague William Hague yesterday after a series of Conservative attacks on British business provoked outrage. Cable said “commercial diplomacy” is a major part of foreign policy as Hague came under fire from business leaders for telling them to stop “complaining” about the economy and “work harder”. “He [...]
Hunt called to answer to House of Commons ahead of Leveson May 14, 2012 JEREMY Hunt yesterday received fresh calls to face the House of Commons and answer to email evidence that he supported News Corp’s takeover of BSkyB. Shadow culture secretary Harriet Harman asked whether it was appropriate for Hunt to refuse to answer parliamentary questions “because instead he’s going to tell Lord Justice Leveson”. Speaker John Bercow [...]
London Heathrow retains top spot as Europe’s busiest airport May 14, 2012 LONDON Heathrow was Europe’s busiest airport in 2010, handling 66m passengers, ahead of Paris’ Charles de Gaulle and Frankfurt’s Main airports, figures released by the European Union show. This was in stark contrast with Stansted, London’s third biggest airport where traffic fell by seven per cent in 2010 – the second largest decline in passenger [...]
One to ones, two to ones and too many meetings May 14, 2012 EVER wondered how much time and money you’ve squandered meeting for the sake of meeting and nodding off as the discussion goes round in circles? Well, according to business expert David Pearl it could take up six years of your career – that is, if you waste two hours a day in “ineffective meetings”. Pearl, [...]
THE QUEEN GETS A NEW WAXWORK May 14, 2012 MADAME Tussauds yesterday unveiled a new waxwork image of the Queen in time for her Diamond Jubilee celebration next month. It is the 23rd waxwork model of the Queen at Tussauds and observers say it shows more wrinkles than the Queen, who turned 86 in April, has actually got. Tussauds is owned by Merlin, a [...]
Loewe soars on rumours of an Apple buyout May 14, 2012 SHARES in German TV maker Loewe jumped 32 per cent yesterday following rumours of an Apple takeover. Online rumours this weekend claimed the tech behemoth has offered €87.3m (£69.6m) for the high-end television maker, which Loewe’s management has been advised to accept. But despite denials from Loewe, investors jumped on the Frankfurt-listed stock ahead of [...]
