Bank to fight watchdog’s Qatari claims July 30, 2013 BARCLAYS yesterday vowed to fight the Financial Conduct Authority’s findings after the City watchdog investigated claims of wrongdoing in the bank’s 2008 fundraising round. The bank’s announcement comes as the Treasury is considering giving another £2m to the Serious Fraud Office to further investigate the case. The lender raised £5.3bn from the Middle Eastern [...]
Britain is falling badly behind in the entrepreneurship stakes July 29, 2013 ONE OF Britain’s great advantages is that we are meant to be a much more entrepreneurial nation than most of our major competitors. We do, indeed, create more companies than some other wealthy countries but as a study by RSM reveals, we are hardly covering ourselves in glory. In fact, we are ranked a pathetic [...]
Unilever warns of slowing growth in emerging markets and little sign of recovery in North America and Europe July 25, 2013 Consumer goods company Unilever has warned that emerging markets are facing slowdown, as it posts results for the first half of 2013 (release). Growth is slowing in emerging markets, as macro-economic headwinds influence consumer behaviour. Within this overall trend we see a mixed picture across the major countries reflecting different local circumstances. Developed markets remain [...]
Credit Suisse up in pre-market trading as results beat expectations July 25, 2013 Switzerland's Credit Suisse is doing well in pre-market trading – up 0.7 per cent right now – after some better than expected results out this morning (release). The bank posted net income for the second quarter of CHF 1.05bn (£0.73bn), beating forecasts of CHF 1.03bn (£0.72bn). Brady W. Dougan, chief executive officer, said: With an [...]
Network Rail chief executive eyes departure July 24, 2013 NETWORK Rail boss Sir David Higgins looks set to leave the company next year, to coincide with the group’s five-year funding cycle. Sir David, who has been in the post since February 2011, has flagged up his looming departure within the firm to allow for a thorough search for his replacement, a company source said. [...]
Don’t get tangled in the web July 24, 2013 Web wizard Andrew MacKay gives his top tips on how to get the most from developers if you’re thinking of taking your business online YOUR website might have been cutting edge in 2003, but with the current rate of technological change, one that’s even a few years old is the modern equivalent of a shop [...]
What the other papers say this morning – 23 July 2013 July 22, 2013 FINANCIAL TIMES Help to Buy sparks £1.3bn house sales The UK housing market has been given a sharp jolt by the government’s flagship Help to Buy scheme, subsidising an estimated £1.3bn-worth of house purchases in the past four months. Nearly 7,000 new-build homes have been reserved through the scheme since its launch in April. EU [...]
Fat Face to bulk up in the States July 22, 2013 CLOTHING brand Fat Face is aiming to crack the American market in the next two years, the firm said as it posted record annual sales. Fat Face yesterday confirmed plans to open its first store in the US and launch a dedicated website for American customers. It posted a 12 per cent rise in turnover [...]
London Report: Glaxo troubles in China weigh on the FTSE 100 July 22, 2013 BRITAIN’S blue-chip share index ended slightly lower yesterday, weighed by GlaxoSmithKline’s problems in China, but remained close to a retest of seven-week highs. Glaxo, the FTSE 100’s biggest pharmaceutical company by market capitalisation, fell 1.2 per cent and accounted for more than half the broader index’s decline after it said some staff in China appeared [...]
CRH appoints company veteran as new chief executive July 18, 2013 Building materials producer CRH has announced the appointment of Albert Manifold as its chief executive following the retirement of Myles Lee after 32 years with the group. Manifold, 50, will assume his new post on 1 January 2014. He has been a board member and chief operating officer at CRH since January 2009, and has [...]