Npower set to cut 1,400 jobs November 27, 2013 Energy supplier Npower looks set to cut 1,400 jobs, as it restructures its UK operations. Confirmation of the losses is expected from the group tomorrow. Speculation this afternoon is that it is on the verge of announcing its intention to offshore more than 1,400 jobs to India and transfer hundreds of others to a private [...]
Cyber fraud victims lose an average of £371 this year November 27, 2013 As 33.6m of us are expected to storm online stores this Monday, new research from Barclays and Kaspersky Lab reveals that 4m of us were hit by cyber fraud in the last year. Victims were stung for a total of £1.5bn – an average of £371 per person. Shoppers are expected to rush for online [...]
UK retail sales index drops to five month low November 27, 2013 One survey has just shown retail trends at their lowest level in five months. The Confderation for British Industry's (CBI) indicator dropped from two to one in November, despite analysts expecting a monthly rise to eight. The CBI said that high-street sales were flat in the year to November, disappointing retailers' expectations for the second [...]
German confidence climbs to six year high ahead of Christmas November 27, 2013 German shoppers are more optimistic about the state of the economy – as Chancellor Angela Merkel prepares to form a coalition government. Gfk's survey of consumer confidence has jumped from 7.1 to 7.4 in December. Last month's figure was revised up – from 7.0 to 7.1. Economists had expected a slight lift from 7.0 to [...]
Royal Mail profits up in wake of pension reforms November 27, 2013 Royal Mail has reported pre-tax profits of £1.58bn in the six months ended 29 September. A one-off gain of £1.35bn from pension reforms accounted for most of the increase in profits. However even without the pension reform profits rose £94m from last year. The recently-privatised mail service said that the state of industrial relations has [...]
Dubai property group’s £1.6bn London flotation is delayed November 26, 2013 BANKS advising Damac, the Dubai-based property group, on its London flotation last night went back on plans to price the shares. The decision came after some investors said they wanted to know whether Dubai would be the venue for Expo 2020, which will be announced today. Advisers said there was sufficient demand to go ahead [...]
Analysts spread gloom ahead of Tesco numbers November 26, 2013 TESCO received an unwelcome early Christmas message from City analysts yesterday, as predictions of a further decline in third quarter like-for-like sales sent its shares down 2.5 per cent. Barclays predicted yesterday that the UK’s largest supermarket will report a 1.8 per cent fall in UK like-for-like sales next week compared with flat sales in [...]
Argos shuns own brand tablets in new stores November 26, 2013 IT HAS only been a matter of weeks since Argos heralded the launch of its own, super-cheap tablet, pitching the £99 MyTablet as the perfect budget choice – with built in Argos apps to help direct customers to making purchases from its other product ranges. So The Capitalist was surprised to see bright and shiny [...]
Analyst Views: What do you make of Mitchells & Butlers’ results? November 26, 2013 NICK BATRAM PEEL HUNT Full year numbers were slightly ahead of our expectations. It is early days but the start to the current year looks relatively lacklustre. However, the group is moving in the right direction and whilst the share price is about right we would see any significant weakness as a buying opportunity. GEOF [...]
Mix it up: Grab yourself a cornflake Daiquiri this Christmas time November 26, 2013 @philip_salter IN case you hadn’t noticed, Christmas is creeping into our lives, bringing out the inner-child or Grinch depending upon whether your glass is half-full or empty. But whatever your disposition don’t despair – even Mr Scrooge can enjoy the hallowed traditions of Christmas films and gentle inebriation. For those whose glasses are full to [...]