Savings dive as confident Brits splash the cash May 28, 2014 HOUSEHOLDS’ annual savings are set to fall by as much as £800 over the next five years, as confidence returns and spending takes over, according to a report out today from the Post Office and the Centre for Economics and Business Studies. Last year, the average household had £3,780 to save after costs such as housing [...]
Francis Maude brings Investec boss and angel investor onto Big Lottery Fund board May 28, 2014 Cabinet Officer minister Francis Maude has appointed three new board members to the Big Lottery Fund, the body that distributes money raised by the National Lottery. Managing director of Investec Asset Management, Elizabeth Passey, Perdita Fraser, an angel investor and partner at consultancy firm SJ Fraser & Co, and David Isaac CBE, a partner at [...]
M&S’s Swannell to help the state sell off assets May 27, 2014 ROBERT Swannell, the chairman of Marks & Spencer, is to become the chair of the Shareholder Executive as the government body gears up for more privatisations and restructuring this year. Swannell, who joined the Shareholder Executive as a non-exec in January, will take over from Patrick O’Sullivan, who is leaving after two and a half [...]
Student loans, uranium, and six other things on the Shareholder Executive’s to-do list May 27, 2014 The government’s Shareholder Executive announced today that it has picked Robert Swannell as its new chair. Swannell, who is also chairman of Marks & Spencer, has been on the board of the group since January, giving him some experience of the group's various portfolio companies. Here are some of the projects that are [...]
Profits soar as SABMiller plans further savings May 22, 2014 SABMILLER, the world’s second largest brewer, led the FTSE 100 risers yesterday after it posted a three per cent rise in profits to $4.8bn (£2.8bn) for the year ended 31 March, beating market expectations. The brewer also announced it would aim to make an additional $500m a year in savings by the financial year ending [...]
UK knocked off top spot: Germany is now Europe’s fastest growing economy May 22, 2014 Germany's economy is growing faster than the UK's economy, although not by a lot. For a while, it looked like the race between the UK and Germany was neck-and-neck in the first three months of 2014. But new figures, published by the Office for National Statistics today, show Germany is edging ahead. German growth data [...]
Why today’s results may be as good it gets for Royal Mail May 22, 2014 Shares in the recently-privatised Royal Mail have fallen by six per cent after the company warned it may never reach its targeted profit margin. At first glance Royal Mail's results appear to be encouraging, with reported profit before tax jumping by 83 per cent, to £1.6bn. Net debt is also down a hefty 39 per [...]
Royal Mail plans to trial Sunday parcel delivery May 21, 2014 THE NEWLY-PRIVATISED Royal Mail is to start delivering parcels and opening its collection offices on Sundays to try and keep up with the demands of online shoppers and other postal companies. Royal Mail, which will post its first full-year results as a listed company today, plans to deliver parcels within the M25 seven days a [...]
Great Portland seals record rents as demand in West End heats up May 21, 2014 WEST End landlord Great Portland Estates posted a 27.6 per cent rise in net asset value (NAV) last year as the heart of the capital continues to experience hot demand and short supply of new office space. Great Portland, whose schemes include its 200,000 square feet Hanover Square site above Bond Street’s Crossrail station, said [...]
The stiff competition facing Royal Mail May 21, 2014 Ahead of its first set of full-year results as a listed company tomorrow, Royal Mail’s announced it’s going to trial delivering parcels on Sundays. Later this summer, it’ll open about 100 offices on Sunday afternoons for customers to pick up parcels. It’ll also pilot delivering parcels within the M25; and from June, Parcelforce Worldwide, its [...]