Ofwat to reject Thames Water’s price rise plans October 16, 2013 INDUSTRY regulator Ofwat yesterday said it plans to block Thames Water’s request to raise customer bills by eight per cent next year, on the grounds that it is unjustified. The watchdog has published a draft decision to reject the proposal – which would add an extra £29 on to the annual average household bill – [...]
Alitalia investors approve share issue to keep firm from crashing October 15, 2013 INVESTORS in Alitalia unanimously approved a €300m (£253.5m) share issue to keep the near-bankrupt Italian airline flying yesterday. Alitalia’s biggest investor Air France-KLM, which had said it would seek tough conditions as part of any involvement in the capital raising exercise, gave its approval along with the airline’s other shareholders during an all-night meeting. The [...]
What the other papers say this morning – 15 October 2013 October 14, 2013 FINANCIAL TIMES Twitter aims to sell ads on other sites Twitter is planning to mine data about its users to help sell advertising on other mobile apps or websites, as it tries to find new sources of revenue in the run up to a stock market listing that could value the company at $15bn. Moscow [...]
New York Report: Hopes of debt deal drive rally on Wall Street October 10, 2013 MAJOR US stock indexes posted their strongest rally in more than nine months yesterday after signs of progress in negotiations to raise the US debt limit, at least temporarily. The market rally left the S&P 500 less than two per cent away from its record closing high set three weeks ago, with traders now focused [...]
Privatised Royal Mail floats at 330p as any wanting more than £10,000 of stock get turned away October 10, 2013 Allocation details for the biggest privatisation since the 1980s have been released. Royal Mail shares have sold at 330p. All members of the public who applied will get £750 of shares, but anyone who applied for over £10,000 will get nothing. 67 per cent of shares will go to institutions (as opposed to the 70 [...]
OBR blames cuts for errors October 9, 2013 THE UK’s fiscal watchdog, the Office for Budget Responsibility (OBR), yesterday said government spending cuts are not the most likely explanation for low growth. The OBR addressed errors in its overly optimistic previous forecasts yesterday, suggesting that external inflation shocks, weak export demand and tight credit conditions were the more likely culprits for the UK’s [...]
A beginners’ guide to sitting pretty October 8, 2013 Spending hours on end at your desk staring at a screen is notoriously bad for your health. Leading nutritionist Jess Scott gives her top food tips for staying healthy and energetic while stuck in the office. STASH Keep a healthy stash of mixed nuts and seeds at your desk – the key to healthy snacking [...]
Osborne moves aides into top ministerial jobs October 7, 2013 GEORGE Osborne last night emerged as the main winner of a government reshuffle that barely touched cabinet positions but shuffled dozens of second-tier jobs. Allies of the chancellor were yesterday placed in key roles across ministries with an economic role – and also within the whips office – tightening Osborne’s control on the government’s agenda. Sajid Javid, [...]
Wolseley steps up hunt for deals as it returns £300m to investors October 1, 2013 PLUMBERS’ merchant Wolseley confirmed plans yesterday to return £300m to shareholders after posting a strong rise in profits. Chief financial officer John Martin said that a lack of attractive acquisition opportunities last year meant that it will return £300m to investors in a special dividend. He said it will continue to seek out bolt-on acquisitions [...]
Inside Track: More than one elephant in the Royal Mail sorting room September 25, 2013 IT’S NOT hard to identify the biggest of the elephantine threats to Royal Mail’s imminent stock market listing, which heralds the most contentious privatisation since the 1980s. With unions poised to ballot members over the prospect of industrial action within weeks, the prospect of a multi-day walkout at the precise time that the company’s shares [...]