Turkey business Bernard Matthews faces pension probe January 9, 2017 The pensions lifeboat is looking into the retirement plans of a turkey company that went into administration last year. Bernard Matthews was acquired from private equity firm Rutland Partners by 2 Sisters in September. 2 Sisters, whose chief executive Ranjit Boparan is known as the “chicken king”, agreed the deal under a pre-pack administration, meaning it bought [...]
New year, new IPO: Canadian firm Eco (Atlantic) Oil and Gas looks to pump up London’s junior market with January listing January 9, 2017 Canadian oil group Eco (Atlantic) Oil and Gas will be one of the first firms to pump up the London Stock Exchange’s junior market in 2017 when it floats later this month. The Toronto Stock Exchange-listed firm, which holds Atlantic licences offshore Guyana and Namibia, will early this week announce its intention to float on the Alternative [...]
Already thinking about summer? These will be the most popular tourist destinations of 2017 January 6, 2017 If being back at work is already getting you down, why not give yourself something to look forward to by planning your summer holiday right now? Staycations are set to be a big trend in 2017 due to the fall in the value of the pound, but Gatwick airport is confident that weary workers will [...]
Easyjet passenger numbers are on the up despite tough year January 6, 2017 EasyJet had a rough ride in 2016, but has kicked off the new year with a bit of good news, reporting this morning that passenger numbers were up in December. The budget airline transported 5,579,978 passengers around the globe in December, up 15 per cent on the year before. That brought the company's passenger number [...]
Insolvencies are on the rise for the travel industry as the weak pound and terrorism fears hit businesses January 5, 2017 The travel industry is braced for thousands of insolvencies as the sector comes under increasing pressure from terrorism fears and rising costs. According to data from insolvency firm Begbies Traynor, 2,679 businesses in the travel industry currently have "red flags" over them which indicates that they are experiencing significant levels of distress. This is a [...]
After Brexit fears, Stonegate Pub Company toasts to sales growth over festive season January 5, 2017 Stonegate Pub Company today announced strong performance over the festive period despite fears of a tougher market after Brexit. The UK's leading privately owned managed pub company said total like-for-like sales grew 5.7 per cent in the four-week period from 5 December to 1 January following strong performance last year. Stonegate operates 691 drinks-led pubs and bars, including high [...]
Gas prices on the industry-focused prompt market slide on first full day of trading January 3, 2017 Gas prices plunged in the first full day of trading in 2017, as weak demand and ramped-up North Sea supply wiped out many of the gains made in December. Prices for one contract on the short-term market, also known as the prompt market, fell by 3.15p or six per cent to 49.75p per therm. Some of the largest [...]
Ginsters owner to team-up with celebrity-backed Cornish pasty firm January 3, 2017 Baker Greggs' UK pasty dominance is to come under increasing pressure as two of its rivals are set to announce a tie-up as part of a multi-million pound deal. Samworth Brothers, which owns a variety of brands including Ginsters, will announce this week plans to buy West Cornwall Pasty Co – a celebrity-backed firm that was saved [...]
Oil price slump pushes UK oil and gas sector insolvencies to five-year high January 3, 2017 The oil price slump drove insolvencies in the UK oil and gas sector to a five-year high in 2016, according to accountancy firm Moore Stephens. There was an eightfold increase in the number of companies that collapsed last year, from two in 2015 to 16 in 2016. In 2014, six companies folded, compared to just one [...]
Wells Fargo growth to be capped after failing key contagion test by US regulators December 14, 2016 US banking giant Wells Fargo has been slapped with restrictions on growing its business by US authorities after failing a key "living will" test. Regulators announced overnight the San Francisco bank had failed the test for the second time this year. The living will rules are supposed to satisfy authorities contingency plans are in place for a controlled wind-down [...]