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 [...]
M&S cuts pension funding costs after narrowing deficit by 80pc November 28, 2012 SHARES in Marks and Spencer were given a boost yesterday after the retailer announced yesterday it had agreed on a cheaper funding plan after slashing its pension deficit by nearly 80 per cent since 2009. The group said the latest actuarial valuation of its UK defined benefit pension scheme, which takes place every three years, [...]
Energy market abusers could face jail under new proposals November 28, 2012 LIBOR fiddlers could face up to seven years in jail under new proposals put out for consultation by the Treasury yesterday. And other market benchmark indices could fall under similar regulations. For example energy market benchmarks, which saw accusations of abuse and price-fixing earlier this month, could be subject to state regulation. The proposals also [...]
Barclays set to close its tax advisory unit November 28, 2012 TAX advisory and agricultural commodities trading could be some of the business arms cut by Barclays in its impending shakeup of operations, as it tries to improve its reputation, investment bank boss Rich Ricci told MPs and peers yesterday. And the senior banker also confirmed yesterday that five staff have been fired over the Libor [...]
