Eastern woes weighing on Raiffeisen Bank November 20, 2014 AUSTRIAN group Raiffeisen Bank International posted a €119m (£95m) net loss in the third quarter, as the Russian rouble’s crash, tensions in Ukraine and Hungarian legislation hit its lending and banking operations. Karl Sevelda, Raiffeisen’s chief executive, said that such “negative one-off effects” had hit the bank’s results. However, he hoped it would bounce back [...]
FTSE weighed down by poor Chinese data – London Report November 20, 2014 BRITAIN’S top share index yesterday fell for a second day, hit by weak economic data from the Eurozone and China and a profit warning from energy supplier Centrica. The blue chip FTSE 100 index closed 0.3 per cent lower at 6,678.90 points, extending its retreat from an eightweek high reached on the previous day. Centrica, [...]
When is the best time to go Christmas shopping? Here are London’s busiest days so you can avoid them November 20, 2014 Next week is expected to see the start of the Christmas rush with Black Friday on November 28 – a US import that was brought about to stimulate spend after Thanksgiving. Fast becoming a crucial part in the retail calendar, high street names such as John Lewis are predicting big things, with many [...]
Home loan rates set to drop more as HSBC introduces record low mortgage of 0.99pc November 19, 2014 Mortgage rates are poised to break new records and edge even further down. HSBC recently made headlines by introducing a record low mortgage rate of 0.99 per cent, with economists from the bank predicting policy rates would stay at their all-time lows of 0.5 per cent until at least 2016. It looks unlikely to end [...]
Ofcom appoints Steve Unger as CEO until next year November 19, 2014 Communications watchdog Ofcom yesterday announced the appointment of Steve Unger as interim chief executive until the post is filled permanently in early 2015. He will replace Ed Richards who leaves his post at the end of the year. Unger is currently director of the strategy, international, technology and economist group at the regulator. Richards resigned [...]
Peppa Pig owner Entertainment One doubles its profit to £2.4m but revenues fall November 18, 2014 Entertainment One, the company behind Peppa Pig, yesterday said it was confident in producing profit growth in line with full-year expectations as it forecast improvements in film box office performance. Its forecast came despite weaker film revenues offsetting growth in television in its first half. The FTSE 250-listed company posted a pre-tax profit of £2.4m, [...]
In full: Alex Salmond’s final speech as Scottish first minister November 18, 2014 Alex Salmond made his final statement as first minister to the Scottish Parliament this afternoon, bringing to a close seven and a half years leading his country. Salmond opened his speech by saying that holding the post of first minister had been "the privilege of my life", adding that "better days" lie ahead for [...]
M&S poaches John Lewis finance director Helen Weir November 17, 2014 Marks & Spencer has appointed John Lewis finance director Helen Weir as its own chief financial officer. In a statement posted this afternoon, the retailer said Weir has yet to confirm a start date. M&S' previous finance director, Alan Stewart, left suddenly in September to take up his new role at Tesco several months earlier [...]
Thinking bigger: My Voucher Codes founder Mark Pearson talks Fern Britton and young tech entrepreneurs November 16, 2014 While we’re talking, it suddenly dawns on Mark Pearson that it’s his company’s eighth birthday. “It’s definitely around now,” he laughs, raising his empty plastic water cup in the air. In June of this year, Pearson sold My Voucher Codes, as part of his parent company Markco Media, to global mobile money technology provider [...]
“Facebook at Work”: The social media site could be about to take over your office November 16, 2014 Facebook is reportedly developing a version of its website designed for use in the workplace. “Facebook at Work” will be a purely professional version of the social network stripped of the embarrassing photos and cute cat videos on your personal page. According to reports in the Financial Times (who quote an anonymous source [...]