Supermarkets to sell Skype credit November 4, 2012 While retailers are rushing to expand their online presence, Skype, the internet phone service, announced today it is making a move onto the UK high street in a tie-up with five supermarkets to sell credit in stores. The US firm, which has 254m connected users per month, said it is to sell £10 or £20 [...]
Vodafone delays Canada-India deal November 4, 2012 A high-profile tax dispute between the Indian government and Vodafone Group has made it unlikely that India will sign a foreign investment protection treaty with Canada during a visit this week by Prime Minister Stephen Harper, Canada’s top diplomat in India said yesterday. Canadian High Commissioner Stewart Beck also signalled an important disagreement with India [...]
Lloyds mulls selling stake in St James’ Place November 4, 2012 BAILED out bank Lloyds is believed to be considering a sale of its stake in wealth management company St James’ Place, it emerged over the weekend. The 60 per cent stake in the wealth management unit was acquired as part of the bank’s ill-fated takeover of failed institution HBOS in 2008. It is thought the [...]
New accounting rules to force banks to book anticipated losses on loans November 4, 2012 BANKS will soon have to hold more capital in anticipation of losses on bad loans under new accounting rules to be published in the New Year, after sustained pressure from the G20 leaders. The International Accounting Standards Board (IASB) is expected to publish its new guidelines in the first quarter of 2013. Currently banks use [...]
Post-Olympics hangover for London as occupancy rate falls November 4, 2012 A STUDY out today predicts that Britain’s hotels industry will next year suffer its lowest occupancy levels since 2005. Accountancy giant PwC said Revenue Per Available Room (RevPar) is set to rise four per cent to a record £114.71 this year, driven by one-off events such as the Jubilee and the Olympics. In 2013, however, [...]
UK Coal teeters on brink ahead of crunch vote November 4, 2012 UK COAL, the biggest coal miner left in the UK, will today face a crunch shareholder vote on plans to restructure the firm amid management warnings failure to approve the plan will force the company out of business by early next year. The firm’s shareholder base will meet in Doncaster, South Yorkshire at 11am to [...]
Private equity firm puts online travel agency up for £100m sale November 4, 2012 ON THE Beach, the online travel business that specialises in holidays by the sea, has been put up for sale by its owners for £100m. Private equity group Isis is close to hiring DC Advisory, the corporate finance advisory firm, to search for a new investor, The Sunday Times reported. Analysts have said the website [...]
Interactive Investor raises £5.8m November 4, 2012 Online broker Interactive Investor has today announced it has raised £5.8m of new capital from shareholders in an oversubscribed offering to investors. The fundraising, led by growth capital investor by MMC Ventures, is set to allow the broker, which also acts as an investment website, to take advantages for growth following the implementation of the [...]
Fund managers down on regulation November 4, 2012 Just one in 10 investors believe forthcoming regulatory requirements on hedge funds will protect their investments interests, a survey by Ernst & Young reveals today. A further 85 per cent of investors do not believe regulatory requirements will help prevent the next financial crisis. Ratan Engineer, asset management global leader from E&Y said: “It may [...]
Facebook faces further falls as executives sell November 4, 2012 FACEBOOK investors are braced for further share price falls today after senior executives were revealed to have sold millions of dollars’ worth of shares over the weekend. Sheryl Sandberg, the company’s chief operating officer, sold $7.4m (£4.6m) in shares as soon as she and other Facebook bosses were able to last week. Chief accounting officer [...]
