Yacht owners threatened by rise of piracy September 19, 2012 THERE’S no escape for the ultra-rich following reports that their superyachts are the new favoured target for pirates off the coast of Africa. While most people’s main holiday concern is remembering to pack the suncream, maritime security firm MAST says the number of enquiries it has received from private individuals has risen by 80 per [...]
Dazzling Shard has inadvertent effect of blinding train drivers September 19, 2012 THE SHARD may be one of the capital’s top landmarks but the decision to erect a 1,016ft tall wall of glass in central London has its downsides. In certain weather conditions the building acts as a giant mirror for the sun and The Capitalist has learned that as a result some train drivers approaching London Bridge [...]
UK labour falls in productivity September 19, 2012 PRODUCTIVITY in the UK slumped between 2007 and 2011, data from the Office for National Statistics (ONS) revealed yesterday. The three per cent fall in output per worker since the onset of the recession has driven an increasingly large productivity wedge between the UK and the rest of the G7 group of developed economies – [...]
US market for housing sees solid recovery September 19, 2012 THE US housing market continued to recover in August, with housing starts, completions and new home sales rising, data revealed yesterday. Building permits slipped one per cent compared to July, Department of Commerce data showed, but this was the only negative piece of data – and still left them nearly a quarter up on August [...]
Webb admits pension reform will hit employee pay packets September 19, 2012 THE cost of rules that will force firms to enrol their employees in pensions schemes is likely to hit wages or be passed on to consumers through price hikes, Steve Webb admitted today. Firms have told the pensions secretary that they will reduce pay and other benefits, increase prices or cut dividends to cover the [...]
Lenders hit by loan maturity September 19, 2012 MILLIONS of interest-only mortgage holders are set to be clobbered as their loans expire over the next eight years, property data firm Xit2 revealed today. Some 1.3m interest-only mortgages will expire by 2020, the data shows, and for over 1m of these – together worth about £116bn – there is no final payment plan, Xit2 [...]
PZ Cussons blames downturn for tough trading conditions September 19, 2012 PZ CUSSONS, the maker of Imperial Leather soap and Original Source showergel, yesterday blamed the global downturn for the “challenging” trading conditions it is experiencing in most markets. It said this, combined with high food and fuel prices, was pressuring consumers’ disposable income. Despite this, the firm said its performance over the past three months [...]
Revenues from oil and gas unit help lift Smiths September 19, 2012 ENGINEERING and technology conglomerate Smiths Group yesterday posted a seven per cent increase in revenue for the year ended 31 July, boosted by sales to oil and gas companies. Revenue for the FTSE 100 company, which has five main divisions – John Crane, Smiths Medical, Smiths Detection, Smiths Interconnect and Flex-Tek – came in at [...]
What did you make of Smiths Group’s results? September 19, 2012 HELAL MIAH | THE SHARE CENTRE The company has a solid free cash flow enabling acquisitions, research and development investment. But, the uncertain global environment and squeeze on government spending, particularly in the US and the Eurozone, is likely to offset these gains. JONATHAN JACKSON | KILLIK & CO The main drivers of the outperformance [...]
Trader media replaces chief executive September 19, 2012 TRADER Media Group has appointed Zillah Byng-Maddick as its interim chief, following the unexpected departure of John King. King has led the Auto Trader owner for five years, but left the firm yesterday. Byng-Maddick has been with the group for three years, prior to which she was finance chief at the Fitness First gym chain, [...]
