Sainsbury’s unveils rise in Christmas sales January 9, 2013 Sainsbury’s saw a record number of customers over the Christmas period, as it reported a small rise in sales over its third quarter. In a trading statement this morning, the supermarket posted an increase of 3.9 per cent in total sales over the 14 weeks to 5 January, while sales at stores open longer than [...]
The Eurozone is not working January 8, 2013 Monday: EU boss says threat to euro has been overcome Yesterday: Joblessness in single currency area hits record UNEMPLOYMENT hit a record high and retail sales slumped towards the end of last year as the Eurozone’s economic tragedy plumbed new depths, official figures showed yesterday – despite top Brussels politicians insisting the crisis has been [...]
Benefit rises capped as coalition regulates pubs January 8, 2013 THE SECOND half of the coalition’s parliament got off to a busy start yesterday, as the government pushed through a one per cent cap on increases to most working-age welfare payments, as well as setting out its stall for the new year with plans to speed-up large infrastructure projects and regulate the pub industry. The coalition won [...]
Vested interests will fight to block necessary spending cuts January 8, 2013 GIVEN the fury surrounding the welfare debate in Parliament yesterday, you would be forgiven for believing that this was about a major downsizing of the welfare state. In reality, the coalition will be capping the increase in most working age benefits to 1 per cent for the next three years, ensuring a real terms cut [...]
Tory business minister quits government January 8, 2013 BUSINESS minister Lord Marland, the Conservative peer, yesterday resigned from government – the second minister to quit the coalition in as many days. His resignation is a major blow for Prime Minister David Cameron, who on Monday announced a high profile relaunch of coalition policy – the same day Lord Strathclyde resigned from his cabinet [...]
Cheap iPhone in the works January 8, 2013 A CHEAPER, lower-end iPhone could reportedly go on sale as early as this year, as Apple looks to expand its market share in the face of increasing competition. The company is working on a device that would look the same as current models, but with a less-expensive, plastic body that could appeal to those unwilling [...]
Lords add to quota critics January 8, 2013 THE EU would be making a mistake if it made member states hit firms with sanctions based on the gender make-up of their boardrooms, a Lords sub-committee decided yesterday. Baroness O’Cathain, who chairs the Lords Internal Market, Infrastructure and Employment sub-committee, said member countries were better placed than the European Commission to decide appropriate gender [...]
What the other papers say this morning January 8, 2013 FINANCIAL TIMES Telecoms discuss Europe network Europe’s top telecoms executives are discussing the creation of a pan-European infrastructure network to unite the continent’s fragmented national markets, following prompting from Brussels to consider more radical options. The idea of pooling telecoms infrastructure emerged at a private meeting between Joaquín Almunia, the EU’s competition chief, and bosses [...]
Ex-HBOS staff charged over £35m of loans January 8, 2013 FORMER senior bankers at Halifax Bank of Scotland (HBOS) were yesterday charged with corruption over £35m of loans made while they were at the bank. Lynden Scourfield, 50, and Mark Dobson, 52 are among eight people accused of making the fraudulent business loans through a turnaround consultancy in exchange for “high-value gifts” between 2003 and [...]
JPM investment chairman joins Whale-hunting US hedge fund January 8, 2013 JP MORGAN’S investment bank chairman Jes Staley announced his resignation yesterday, ending 34 years at the giant firm to become a partner at hedge fund Blue Mountain Capital. Blue Mountain was set up by a former JP Morgan banker Andrew Feldstein in 2003 and is believed to have made hundreds of millions of dollars betting [...]
