The defence industry boss who is reshaping his firm for new realities September 28, 2010 FOR Cobham’s chief executive Andy Stevens, life is measured out in five-year plans. The head of the FTSE 100 defence company first joined the business in 2003 as head of its aerospace division and played a key role in the 2005 strategic review that “took a root a branch look at our operations and decided [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 26, 2010 FINANCIAL TIMES GOLD SALES AT EUROPEAN CENTRAL BANKS DRAW TO HALT Europe’s central banks have all but halted sales of their gold reserves, ending a run of large disposals each year for more than a decade. The central banks of the eurozone plus Sweden and Switzerland are bound by the Central Bank Gold Agreement, which [...]
Dell shows off new tablet PC September 23, 2010 BlackBerry maker RIM is understood to be ready to unveil an “iPad killer” tablet computer at its annual DevCon conference next week. The firm has been rumoured to have been working on a tablet device since the roaring success of Apple’s iPad. But few expected it could have the “BlackPad” ready in time for the [...]
Asda is given go-ahead for Netto deal September 23, 2010 ASDA will sell around a quarter of its newly-acquired Netto supermarkets, the Office of Fair Trading said yesterday, in a blow to the grocer’s expansion into smaller city-centre outlets. Asda paid £778m for Netto in May, but said yesterday it will find buyers for 47 shops after the OFT raised competition concerns. The supermarket is [...]
Foyles profits surge after boom at London flagship September 23, 2010 Foyles bookshop yesterday announced profits ahead of expectations for the financial year with operating profits up five-fold year-on-year. Like-for-like sales grew by 9.7 per cent, following a bumper Christmas. The net pre-tax profit figure for the year ended 30 June was £335,935 whilst turnover grew by 1.9 per cent to £23.1m. The directors have once [...]
Santander to be grilled by Commission September 22, 2010 SPAIN’S Santander will join the UK’s largest banks in facing individual grillings by the government’s independent banking commission when the private phase of the review gets under way next year. The commission’s official consultation launches tomorrow when ex-OFT boss Sir John Vickers, the chairman, publishes an initial “issues paper” setting out its agenda. The two [...]
Londoners hit as house prices fall September 19, 2010 THE UK HOUSING market dropped back for the third month in a row in September, with London prices now also moving into the red. Figures from Rightmove show that average asking prices across the UK dropped by 1.1 per cent to £229,767 compared with the previous month. Prices have now fallen back by a total [...]
Output grows as retail sales start to slow September 16, 2010 RETAIL sales suffered a surprise drop of 0.5 per cent in August, but manufacturers remained upbeat about demand for next month, official figures from the Office of National Statistics (ONS) and the CBI respectively showed yesterday. The fall in retail sales was the first in over six months when the unusually cold winter put shoppers [...]
Halo: Reach sets sales record September 16, 2010 MICROSOFT has enjoyed the biggest gaming sales bonanza of the year, after a global stampede for the latest instalment of its Halo video game franchise generated over $200m (£128m) of revenues in just 24 hours. Sales of Halo: Reach, a first-person shooter game, stormed past the three-day opening weekends of blockbuster films like Toy Story [...]
IMPACT OF VAT September 16, 2010 Q.As a small business-owner, what do I need to know about the VAT increase? A.The standard rate of VAT is 17.5 per cent at the moment but this will be rising to 20 per cent in three months time. If you are a business that issues VAT invoices, then you must use the 20 per [...]