Number of mortgage products at all-time low as lenders withdraw July 6, 2009 THE VOLUME of mortgage products on offer has slumped to the lowest level on record, leaving homeowners with a severe lack of options for taking out loans as the recession continues to curb lending. Price comparison website Moneysupermarket.com said borrowers now have just 2,282 deals from which to choose, while first-time buyers have a range [...]
PEPSICO LOOKS FOR RUSSIAN FIZZ July 6, 2009 PepsiCo pledged yesterday to invest $1bn (£616m) in Russia over three years. It said it was confident in the Russian market, which is still growing despite the financial crisis. Russia is critical for PepsiCo, which is looking to boost profits as recession and changing consumer habits limit sales growth in the US.
Strike warning over Diageo cuts July 6, 2009 Union leaders have said they cannot rule out balloting for strike action in their fight against job cuts at drinks firm Diageo. Members of the union Unite are due to meet in London to plan their campaign against the axing of 900 workers in Kilmarnock and Glasgow. The company has said restructuring is needed to [...]
DoJ mulling telecom probe July 6, 2009 The US Justice Department is looking at big telecom firms like AT&T and Verizon Communications to see if they have abused their market power by entering into exclusive agreements with the makers of popular phones like the Apple iPhone.
Nomura’s exit triggers AIG Wharf payout July 6, 2009 JAPANESE bank Nomura’s decision to ditch the former Lehman Brothers office and house its 3,600 employees in the City will trigger a rental insurance payout of up to £224m for Canary Wharf. As City A.M. revealed yesterday, Nomura has signed a deal to move into the riverside complex Watermark Place in 2010, meaning it will [...]
Setback for Phorm after BT opts out July 6, 2009 SHARES in the controversial online behavioural monitoring firm Phorm plummeted 42 per cent to 265p yesterday after BT said it had no immediate plans to roll out the firm’s Webwise Discover service. Telecoms giant BT was a major player in the development of the system, which collects information on users’ online behaviour and targets them [...]
Scrap boosts new car sales July 6, 2009 NEW car sales in June fell at their slowest rate for nearly a year, the Society of Motor Manufacturers and Traders said yesterday, as it praised the government’s scrappage scheme. The number of new cars sold in the UK last month totalled 176,264 – a 15.7 per cent drop on the June 2008 figure, according [...]
Don’t let men pat you on the head July 6, 2009 I WAS shocked recently by the article, “IT Girl Grows Up” where Tamara Beckwith was interviewed and calls her husband a chauvinist, lauding his statement: “You are a woman, you do as you are told.” She responds: “It’s quite nice actually for once to do as you are told.” This is when I dream of [...]
Cattles says it won’t pay bond interest, and remains in talks with its creditors July 6, 2009 TROUBLED British sub-prime lender Cattles yesterday said it would not make a bond interest payment originally scheduled for 5 July, as talks over its bank debt approach a key deadline. Cattles, whose shares were suspended in April, added that it was still in “constructive discussions” with its creditors, and that it would issue a further [...]
UK ad market to be overtaken by China in 2009 July 6, 2009 THE UK looks set to lose its position as the fourth-largest advertising market, according to experts at ZenithOptimedia who significantly downgraded UK advertising spend forecasts yesterday. Publicis-owned ZenithOptimedia estimated that UK ad spend will decline by 10.5 per cent to £11bn in 2009 – having predicted a decline of 8.7 per cent just three months [...]
