What the other papers say this morning August 19, 2012 FINANCIAL TIMES Call to limit China’s UK nuclear stake Chinese companies competing for one of the UK’s biggest nuclear projects are unlikely to end up with a majority stake in any winning consortium in an attempt to allay concerns about Beijing gaining control of the Horizon reactor programme. Olympics effect on Scottish vote in debate [...]
Worst rain on record keeps London’s shoppers at home August 19, 2012 GREATER London’s shops were the worst hit by the heavy summer rains compared to their rivals elsewhere in the country. Footfall plummeted by 8.9 per cent in May, June and July in Greater London compared to the previous quarter, according to data from the British Retail Consortium (BRC) and Springboard. The dramatic drop compares to [...]
Firms prosper as insolvency rate declines August 19, 2012 BUSINESS insolvencies fell sharply in July compared with the same month of 2011, according to research out today from Experian, with almost every region and sector registering an improvement. A total of 1,776 firms failed in the month, down on the 1,962 that failed in July 2011 – a drop of almost 200 despite the [...]
Retail sales post surprise rise in July August 16, 2012 Retailers reported an unexpected rise in sales in July and higher than earlier thought sales in June, data showed today, boosting hopes that consumer spending will help lift the economy out of recession. Retail sales volumes rose 0.3 per cent on the month to give an annual increase of 2.8 per cent, compared to economists’ [...]
What the other papers say this morning August 15, 2012 FINANCIAL TIMES Barrick Gold explores Africa sale Canadian miner Barrick Gold has been exploring a sale of its 74 per cent stake in African Barrick, the London-listed gold producer, in a move that could prompt a full takeover. Barrick has been working with UBS to consider its options for African Barrick, which the Canadian miner, [...]
Olympics boom sees 5.5m flock to Stratford City August 15, 2012 STRATFORD City, Europe’s biggest shopping mall, attracted 5.5m visitors during the Olympic Games, its Australian developer Westfield said as it reported a 31 per cent increase in its first-half profits. Stratford’s bustling shops contrast with retailers in west London that lamented a lack of visitors, particularly in the first week of the Games, after warnings [...]
Commuters face fare hike as taxpayer subsidy is cut August 14, 2012 COMMUTERS are set to come in for a hammering from January next year, when rail companies are next allowed to raise fares. Individual fares will be lifted by up to 11.2 per cent, as part of the Department for Transport’s (DfT) plan to shift costs from the Exchequer to the passenger. The cap on regulated [...]
Osborne faces a delicate balancing act on train ticket hikes August 14, 2012 WHEN the majestic Shard formally opened earlier this summer I was interested to learn that its architect Renzo Piano only catered for 48 car parking spaces in the building’s bowels. “It’s another big shift,” he was quoted as saying. “To tell people, look, stop going around in cars.” Piano’s thinking makes a lot of sense. [...]
Global shares gain ahead of data August 14, 2012 Asian shares rose today as investors hunted for bargains while waiting for more economic figures from Europe and the United States later in the day, after recent data showed the Eurozone’s debt woes were eroding business activity globally. Relative optimism persisted to underpin investor sentiment as deteriorating global growth prospects will keep expectations firmly in [...]
Sterling could win from London’s Olympic success August 13, 2012 FX360 HOSTING the Olympics is an honour for both the city and the country where it is held. One of the major benefits is the financial investment – sporting facilities are built or upgraded, public transport is overhauled, and businesses flock to the area. But what happens after the stadiums empty and the medals are [...]