Shares in Nokia slump as it cuts price of phones September 6, 2012 LOSS-MAKING Nokia has slashed prices of its older smartphone models using Microsoft Windows software, industry sources said yesterday, a day after investors gave its latest Lumia phones a rapid thumbs-down. Two industry source said that the Finnish group, which is struggling to recoup ground lost to its rivals, cut the price of its mid-range Lumia [...]
Anglo African Agriculture lists on Plus with backing of the City September 6, 2012 THE African agriculture vehicle founded by VSA Capital chief executive Andrew Monk was yesterday admitted to trade on PLUS Markets. Anglo African Agriculture (AAA) raised £500,000 from some “very well-known, high-net-worth City people”, including investment bank Zeus Capital, which made a “substantial” investment in AAA, according to sources close to the deal. The group is [...]
Russia enjoys investment flood September 6, 2012 Russia is enjoying a flood of inward investment, which can only be helped by its recent accession to the World Trade Organisation (WTO), a report from Ernst & Young said yesterday. In its Russia attractiveness survey the firm found that there had been a 50 per cent increase in foreign direct investment projects over the [...]
Public sector unions subsidised September 6, 2012 Public sector unions are using taxpayer money to fund union activities, without recommended regulatory limits, think-tank Taxpayers’ Alliance (TPA) said today. Public sector bodies are supposed to vet “facilities time” – where union officials are paid by the employer to do union business – and decide their reasonableness. This amounted to around £80m of paid [...]
HSBC sells Canada insurance unit September 6, 2012 Enstar Group said it would buy the US and Canadian closed-life insurance operations of HSBC Finance, a unit of HSBC Holdings, for a base price of $181m. Bermuda-based Enstar, which buys insurers that are no longer writing new business, bought compensation insurer SeaBright Holdings for about $252m in cash last Monday. Enstar is backed by [...]
Hollande hit by unemployment at 13-year high September 6, 2012 FRENCH UNEMPLOYMENT hit a 13-year high in the second quarter, it was revealed yesterday, while across the border in Germany strong domestic demand was shown to have boosted order books in July. The unemployment rate in France hit 10.2 per cent – higher than at any point since 1999, even before Carrefour’s, Peugeot’s and Air [...]
House prices continue to tread water in August, says Halifax September 6, 2012 HOUSE PRICES looked like they were beginning to slip in August, as they dropped slightly compared both to July and August last year, Halifax’s house price index revealed yesterday. Prices were down 0.4 per cent on the month, 0.3 per cent on the quarter, and 0.9 per cent on the year, the index showed, putting [...]
Central London keeps top spot in commercial property market September 6, 2012 CENTRAL London held onto its mantle as the-top performing commercial property area last month. Overall, commercial property across the UK saw total returns of 0.2 per cent in August – mirroring July’s performance –, but central London pipped all other regions with a 0.5 per cent total return, according to CBRE’s latest monthly index. Year-to-date, [...]
Car sales flat ahead of vital plate change September 6, 2012 NEW CAR registrations crept up in August, just ahead of the September arrival of the new “62” plate, the Society of Motor Manufacturers and Traders (SMMT) said yesterday. Registrations inched up 0.1 per cent on last year, reaching a total of 59,433 for the month, meaning that 40,000 more cars were sold in the first [...]
City Views | Have you bought a new car this year? September 6, 2012 HANNAH DISS SNR DENTON I will probably in the next 2-3 years but at the moment I can’t. Fuel duty and road tax are huge costs and I don’t think the government is doing enough for the consumer, especially first-time buyers like me. ANDY TAYLOR I’m Australian and haven’t bought a car in the UK [...]
