888 figures slump but Ladbrokes talks still on March 31, 2011 ONLINE betting website 888 said bid talks with rival Ladbroke were ongoing as it reported a steep fall in 2010 profits, hit by falling poker revenues and an increased marketing spend. 888 has been discussing a possible takeover by British bookmaker Ladbrokes since December. It was said that talks between the pair were ongoing and [...]
TUI Travel says bookings are up despite unrest March 31, 2011 TUI Travel, Europe’s biggest tour operator, said summer bookings were ahead, with customers booking alternative destinations following the unrest in Egypt and Tunisia. The company said yesterday that customers were picking Greece, Spain and Turkey and it had adjusted its programme accordingly, increasing the amount of holidays on sale to those regions. TUI Travel reiterated [...]
Rosenfeld takes pay cut as Kraft misses targets March 31, 2011 KRAFT Foods chief executive Irene Rosenfeld took a sharp pay cut in 2010 after the food company failed to meet revenue and profit targets. Rosenfeld’s total compensation fell 27 per cent to $19.29m (£12.02m) according to the company’s annual filing, although the comparison is skewed by a $6.6m payout in 2009 under a three-year bonus [...]
CITY VIEWS: WILL BRITS EVER GIVE UP THEIR TWO WEEKS IN THE SUN? March 31, 2011 Save or Borrow peer to peer at RateSetter.com NICHOLAS KOCIUBA | TOKIO MARINE “Brits might shorten their holiday from two weeks to only a week, but they won’t give it up completely. Brits enjoy travelling and flights are still fairly affordable.” JAMES JOHNSTONE | KIM ENG SECURITIES “It’s unlikely people will give up their holiday [...]
House prices recover from late 2010 dip March 31, 2011 HOUSE prices recovered for the second month in a row in March, suggesting that the housing market may be beginning to thaw. Prices across the UK were up 0.5 per cent compared to February, when they also increased by 0.7 per cent on January, the Nationwide said yesterday. Prices are now higher than in the [...]
Shock rise in mortgage defaults in 2011 March 31, 2011 MORTGAGE defaults have unexpectedly shot up in the first three months of the year, the Bank of England revealed yesterday. A positive balance of 11.5 per cent of respondents to the Bank’s credit conditions survey reported a rise in defaults on secured loans to households. Worse, even more – a positive balance of 14.3 per [...]
Eurozone inflation raises prospect of hike in rates March 31, 2011 THE euro ticked up against the dollar yesterday morning, after rising inflation in the single currency area was seen to further increase the chances of a hike in interest rates next week. The euro climbed above $1.42 (88p) in morning trading. Meanwhile, June Bund futures hit a session low and two-year yields rose, after the [...]
Stats show drop in NHS productivity March 31, 2011 PRODUCTIVITY in the NHS worsened between 1995 and 2009, the Office for National Statistics (ONS) revealed yesterday. Government spending on the NHS soared in the period, from £38bn to £111bn, 7.9 per cent a year on average, the ONS revealed. While services improved, output did not match the increase in input, leaving productivity to decline [...]
PAINFUL TRANSITION FOR HOUSING MARKET March 31, 2011 BRITAIN’S housing market is undergoing a “painful transition” in adapting to weaker credit conditions, Bank of England rate-setter David Miles said yesterday. Demand for housing is lagging following the end of “unsustainable” levels of mortgage debt availability, Miles said. Speaking at the Home Builders Federation conference, Miles said that first-time buyers would adapt to save [...]
Pay settlements creep upwards March 31, 2011 AVERAGE pay deals in manufacturing firms increased by 0.2 per cent to 2.4 per cent in the three months to the end of February, manufacturing group EEF announced yesterday. However, the growth is merely returning settlements to normal levels, following record lows seen during the recession, EEF said. “Continued caution due to economic uncertainty is [...]
