Train ticket prices to rise by up to 13pc August 16, 2011 RAIL commuters will face inflation-busting hikes in ticket prices next year, which could see some fares rise by as much as 13 per cent, following the release of latest inflation figures yesterday. Under the revised scheme, which was set out in the Treasury’s spending review last October, regulated fares such as season tickets will rise [...]
FTSE rises but Eurozone still weighs on some bank stocks August 15, 2011 ARALLY by commodity issues on a brighter demand picture pulled Britain’s top share index higher yesterday, though weakness in banks dented some sentiment as investors looked cautiously ahead towards a key meeting today on the Eurozone debt crisis. French President Nicolas Sarkozy will meet German chancellor Angela Merkel in Paris to discuss further steps to [...]
CITY MOVES | WHO’S SWITCHING JOBS August 14, 2011 LSL Martyn Alderton has been appointed as managing director for asset management in the property services firm’s Corporate Client Department (CCD). He replaces David Brown, formerly managing director of LSL CCD and commercial director of LSL Property Services, who will retain his commercial director position. Alderton was previously operations director at the company. PwC The [...]
Short selling ban fails to halt volatility in markets August 12, 2011 European stocks failed to rally significantly this morning after a ban on short selling in four pivotal Eurozone nations failed to stem the tide of losses seen over the week. The assault on short sellers, triggered by a collapse in confidence in banks including Societe Generale, had been hastily introduced in an attempt to stop [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 11, 2011 FINANCIAL TIMES LI & FUNG UPBEAT OVER THE GLOBAL ECONOMY Li & Fung, the Hong Kong-headquartered sourcing company for retailers such as Walmart and Debenhams, sounded an upbeat note on Thursday, asserting that business conditions were “not at all” like those in 2008”, despite the current uncertainty over prospects for the global economy. Bruce Rockowitz, [...]
LONDON: CLOSED FOR BUSINESS August 9, 2011 SCORES of shops across London were closed for business yesterday as the threat of rioting and looting remained high, and home secretary Theresa May met with industry leaders in an attempt to reassure them that extra efforts were being made to protect retailers. May met with business chiefs yesterday afternoon – including the British Retail [...]
Factory output in unexpected fall August 9, 2011 Factory output fell unexpectedly in June, an unwelcome reminder of the poor state of the country’s economy as it faces new challenges from global financial turmoil and widespread riots in London and other cities. The weak official data followed reports overnight from trade associations of low consumer confidence in the retail and property markets last [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 8, 2011 THE FINANCIAL TIMES IZODIA INVESTORS PURSUE LOST £5.3M Izodia, the multibillion-pound dotcom company at the centre of one of the City of London’s longest-running corporate scandals, has postponed liquidation in the hope that it can recover some of the £5.3m it is still owed. The Daily Telegraph UK FACES CREDIT RATING CUT AND MORE MONEY-PRINTING [...]
Businesses hit by riot threat August 8, 2011 BUSINESS groups in London warned yesterday that ongoing riots in the capital could add to the UK’s economic woes, as more high street stores were vandalised and looted by rioters. The British Retail Consortium (BRC) reacted strongly to the outbreaks of vandalism, saying struggling shops would be hit hardest by the damage. “Clearly, with high [...]
CITY MOVES | WHO’S SWITCHING JOBS August 8, 2011 Santander The retail and commercial bank has promoted Robin Foale, formerly the divisional managing director for corporate and commercial banking in Thames Valley & South West, to managing director for its business banking division. In his new role, Foale will review the services offered to small businesses in Santander’s branch and telephone network. Prior to [...]