CBI: EU Pension rules threaten UK’s recovery December 10, 2012 EUROPEAN Union pension proposals will hit investment, jobs and growth for no good reason, according to a new report out today from business group the CBI. The EU wants pension schemes to hold enough funds to pay out in the event of a once-in-200-year catastrophe, to make sure savers are very thoroughly protected. But critics [...]
Cowdery’s insurance vehicle resolves its boardroom tangle December 10, 2012 INSURANCE vehicle Resolution has paid £7.5m to axe its external management deal and simplify its board structure. The firm, which specialises in overhauling underperforming insurers, said it was bringing management in-house from March 2013 as it moves from an acquisitions vehicle to a more traditional company. Founder Clive Cowdery has joined the board for the [...]
Job reductions at Henderson December 10, 2012 MONEY manager Henderson is on the verge of cutting a number staff roles in some parts of its business, as asset managers continue to face increased cost pressures. It is thought up to nine per cent of roles could be cut at the business but that it would look to invest in more jobs in [...]
Skandia cuts 20 sales roles December 10, 2012 SKANDIA, the financial services firm, yesterday announced plans to cut 20 jobs from its 100-strong sales team as part of a broader cost-cutting programme which will eventually see it shed 200 jobs. Steve Powell, sales director, said: “The new 80 strong sales team will be nimbler and more effective, with a strong leadership team.” The [...]
Top MP fears Finance reforms are rushed December 10, 2012 INFLUENTIAL backbench MP Andrew Tyrie yesterday warned the Financial Services Bill is being rushed, with the Commons being asked to pass reforms before the banking and treasury committees have studied it. “This is an object lesson in how not to do it,” he said.
Branson lays down £1m bet to BA’s Walsh December 10, 2012 VIRGIN founder Sir Richard Branson yesterday insisted that the brand will not disappear if a new investor takes a stake in his airline. As Delta nears a deal to buy Singapore Airlines’ 49 per cent stake in Virgin Atlantic, Sir Richard hinted that he will not give up control of the carrier. He wrote a [...]
Britons splashed out almost £42bn on technology in 2012 December 10, 2012 TECH-SAVVY UK consumers have spent almost £42bn on technology during 2012, an average of £934 per person, as they splashed out on new tablets and smartphones. But the single biggest outlay for Britons was on television packages, with 17 per cent of consumers spending more than £50 a month, according to research by online price comparison [...]
Vodafone and GSK link up on African vaccines programme December 10, 2012 BRITISH mobile phone network Vodafone and drug manufacturer GlaxoSmithKline yesterday launched a new project combining phones and drugs to increase vaccination rates in Africa. The one-year pilot project in Mozambique will see Vodafone and GSK register mothers on a database, and provide information and appointments for child vaccinations by text. It is hoped that child [...]
E.ON follows rival utilities to hike prices December 10, 2012 ENERGY provider E.ON has become the last of the “big six” energy firms to raise its prices, announcing yesterday that tariffs will increase from 18 January. E.ON, which is writing to each affected customer, said that the average dual fuel bill will increase by 8.7 per cent, while the average electricity-only and gas-only bill will [...]
Half-term holidays give a boost to Gatwick’s passenger figures December 10, 2012 HALF-TERM getaways helped Gatwick Airport post a 4.2 per cent rise in traffic during November, Britain’s second-busiest airport said yesterday. Gatwick credited the earlier autumn half-term break this year for some of the uptick, which took its passengers for the month to 2.23m. In the year to the end of November, traffic has risen 2.8 [...]
