RBS hires advisers to prepare 300 of its outlets for sale January 10, 2010 Royal Bank of Scotland (RBS) has appointed UBS to advise on the sale of more than 300 branches, which is expected to attract a flurry of interest. A teaser document, detailing the branches included in the sale, was circulated at the end of 2009. Potential bidders include National Australia Bank, which owns Clydesdale and Yorkshire [...]
House of Fraser celebrates sales January 10, 2010 Own-brand labels helped department store group House of Fraser to surging Christmas sales. Like-for-like sales rose 7.1 per cent in the eight weeks to 2 January, following a 1.5 per cent fall during the same period a year ago. Chief executive John King said the figures meant House of Fraser was a festive winner, putting [...]
Banks lift salaries, cut bonuses January 10, 2010 Most banks have increased basic salaries and cut bonuses for executives in response to calls for leaner compensation packages after the financial crisis, according to a survey by consultancy Mercer. Four fifths of respondents in a survey of 61 banks and other financial services firms said they had made or plan to make changes to [...]
Eurostar disruption continues January 10, 2010 Eurostar services between London and Paris are still being affected by what it described as “severe” weather conditions. Eurostar will run a restricted service today and urged passengers to cancel or postpone their trips if possible. Some late evening services will be cancelled. Disney services are running normally. Early morning and late night services were [...]
Tories unveil plans to help small firms January 10, 2010 DAVID Cameron yesterday announced a raft of measures to help small businesses, as he attempted to portray the Tories as a party of entrepreneurship. He said a Tory government would end the “anti-aspiration” culture that had been fostered under Labour, by increasing the insolvency threshold and reducing the number of days it takes to get [...]
Election2010 January 10, 2010 TORIES TO CUT IMMIGRATION Immigration would fall by as much as 75 per cent if the Conservatives win the next general election, David Cameron said yesterday. He said he would use an annual cap to push net immigration from around 200,000 in recent years to the tens-of-thousands last seen under the Thatcher and Major governments. [...]
City gets New Year jitters as outlook dims January 10, 2010 BANKS and securities traders expect profits to flatten in the coming quarter, indicating weak short-term expectations among City players. Sentiment across the Square Mile is downbeat as the New Year gets underway, according to a survey by the CBI and PricewaterhouseCoopers. The report found the majority of financial services firms were concerned the booming business [...]
Oleg Deripaska cancels 2007 deal to acquire Russneft firm January 10, 2010 Russian tycoon Oleg Deripaska has pulled out of a deal struck in 2007 to acquire oil firm Russneft from its founder, Mikhail Gutseriyev. The deal was reversed because Deripaska failed to win permission from the Russian government’s commission on foreign investment in strategic industries. Approval from the commission, chaired by Russian prime minister Vladimir Putin, [...]
Ex-Lupus man in bid to rejoin January 10, 2010 The ousted boss of industrial investor Lupus Capital has launched a second attempt to be reinstated to the board. Greg Hutchings was ejected as executive chairman last July after the company breached part of a lending agreement. He then made a failed effort to rejoin in October. He has requested another extraordinary meeting with an [...]
Bolland to start crunch talks January 10, 2010 MARC Bolland will jet back early from holiday to have crunch talks with Wm Morrison about his departure date. Soon-to-be new employer Marks & Spencer wants him to start as chief executive as soon as possible but under the terms of his contract the Dutchman still has nine months notice to work. Morrison’s is believed [...]
