TfL hopes to push Overground onto key suburban rail routes November 28, 2012 TRANSPORT for London (TfL) remains optimistic that it will get the go-ahead to take control of key suburban rail routes early next year. Howard Smith, chief operating officer for TfL’s rail operations, told City A.M. that he is “hopeful of coming to some conclusions in the next few months” following discussions with the Department for [...]
Floor price for alcohol will hit poor hardest November 28, 2012 THE GOVERNMENT yesterday unveiled plans to introduce minimum prices for alcohol, despite concerns that such a move will penalise ordinary drinkers. The home office proposals include a ban on multi-buy promotions and a minimum unit price of 45p in England and Wales. As a result a one litre bottle of Gordon’s gin – currently available from [...]
New broom Mark Carney has a lot of paperwork to sweep up November 28, 2012 FROM the forthcoming report of the Parliamentary Commission on Banking Standards to a possible resignation letter from Paul Tucker: Mark Carney has an unenviable reading list before he sets foot in Threadneedle Street as the new Governor of the Bank of England. If he wants a genuine cold-towel moment ahead of his arrival, however, he [...]
Minimum Alchohol pricing: Should it be state controlled? November 28, 2012 PAULO AQUINO NORDLB It’s a good thing because it will discourage people from over-drinking and to be responsible. It’s bad because it will affect some people more than others. I don’t think they should have that power. RACHEL CALYDON SCHINDLER Some alcohol is cheaper to buy than certain fizzy drinks so I think it’s a [...]
Thomas Cook chief outlines more cost cuts November 28, 2012 THOMAS COOK’s new chief executive Harriet Green yesterday insisted the embattled tour operator had “turned a corner” yesterday and outlined plans for more drastic cost savings after revealing a gaping £485m loss. The group’s full year results saw losses widen by 22 per cent from a £398.2m loss last year while revenue declined by three [...]
Law firm Simmons & Simmons revenue hurt by the weak euro November 28, 2012 LAW firm Simmons & Simmons has blamed the tough economy for a three per cent fall in half-year revenue yesterday. The corporate law specialist posted revenues of around £121m for the first six months of the financial year, but said the figure is flat on last year once exchange rates are excluded. Managing partner Jeremy [...]
US firm Affinion drops out of takeover talks for CPP November 28, 2012 US firm Affinion Group last night pulled out of takeover talks with credit card insurer CPP. Affinion, which had revealed it was in preliminary takeover talks at the end of last month, said it had no intention of making an offer. CPP, said it would continue to actively pursue a range of financing options. “We [...]
Do Thomas Cook’s results show it is heading the right way? November 28, 2012 JAMES HOLLINS | INVESTEC This is an encouraging statement of intent and represents a suitably aggressive start to life under Harriet Green…With net debt down to more manageable levels and a supportive banking syndicate, we think the group now has the platform to deliver the required cost and business changes to thrive. NICK BATRAM | [...]
Payday loan charges to be capped by law November 28, 2012 PAYDAY loan firms face a cap on the amount they can charge consumers, the government announced last night. In a blow to the booming industry, ministers said that legislation will be introduced to give the new Financial Conduct Authority (FCA) power to intervene in the industry if it sees evidence of bad practice. The government [...]
Pension deficits cost investors November 28, 2012 MARKS and Spencer has done an impressive job of cleaning up its pension deficit, knocking off £1bn over the last three years. It has now agreed a ten-year plan to deal with the remaining £290m. That saw a bump in the share price, which some attribute to the greater attractiveness of Marks and Spencer as [...]
