The troubled banknote producer De La Rue confirmed yesterday that a number of its employees had falsified paper quality reports for some of its 150 clients, and that the findings of the investigation have been passed on to the Serious Fraud Office (SFO).
At first sight, the appointment of Andy Duncan, the former Channel Four as the new chief executive of HR Owen, the posh motor dealer, looks a little curious. From television studio to car showroom is an unusual career move. Still, at least Mr Duncan’s personal choice of motor won’t embarrass him in front of his new colleagues.
Here is the original post:
Business Diary: HR Owen boss is well-qualified
The global spike in food prices is already feeding through to the shops, according to the British Retail Consortium (BRC), a taste of higher inflation to come. Related Stories Hotels back to pre-slump levels, says Whitbread Ocado chief executive looks to the future as sales climb by 30% Business Diary: HR Owen boss is well-qualified De La Rue staff faked banknote quality tests Social housing group calls in KPMG as administrators
Originally posted here:
Rise in global food prices expected to continue
The leisure group Whitbread has said that revenues at its budget hotel chain Premier Inn have surged beyond pre-recession levels and dismissed any fears over a double dip in the economy. Related Stories Ocado chief executive looks to the future as sales climb by 30% Rise in global food prices expected to continue Business Diary: HR Owen boss is well-qualified De La Rue staff faked banknote quality tests Social housing group calls in KPMG as administrators
Go here to see the original:
Hotels back to pre-slump levels, says Whitbread
Lloyd is compromised and Jamie is insufferable, so there’s an opening for Bob. Among the (very) small number of Wall Street chief executives who steered their firms intact through the financial crisis, there is a competition developing for who will be seen as the industry’s top dog.
Original post:
An opening for Diamond to become top dog on Wall Street
The HSBC chairman, Stephen Green, is to give the banking industry a powerful voice at the heart of the Government by accepting an offer from David Cameron to become his trade minister from the House of Lords. Related Stories Ocado chief executive looks to the future as sales climb by 30% Rise in global food prices expected to continue Business Diary: HR Owen boss is well-qualified De La Rue staff faked banknote quality tests Social housing group calls in KPMG as administrators
Read more from the original source:
Green’s move to Westminster triggers HSBC management reshuffle
Barack Obama will today put his support behind $300bn (£196bn) of business tax cuts, the latest in a blizzard of policy announcements designed to show the US has not run out of ideas for stimulating its disappointingly sluggish economy. Related Stories Ocado chief executive looks to the future as sales climb by 30% Rise in global food prices expected to continue Business Diary: HR Owen boss is well-qualified De La Rue staff faked banknote quality tests Social housing group calls in KPMG as administrators
See the original post:
Obama to unveil $300bn tax cuts
The Chinese state-owned chemicals giant Sinochem is reported to have approached Singapore state investor Tamasek about a joint bid for PotashCorp, the world’s biggest fertiliser group that is subject to a $39bn (£25bn) bid from BHP Billiton. Related Stories Ocado chief executive looks to the future as sales climb by 30% Rise in global food prices expected to continue Business Diary: HR Owen boss is well-qualified De La Rue staff faked banknote quality tests Social housing group calls in KPMG as administrators
Go here to read the rest:
Sinochem lines up tilt at Potash
Hewlett-Packard is suing its ousted chief executive, Mark Hurd, to prevent him immediately taking up a senior position at rival computer giant Oracle. Related Stories Ocado chief executive looks to the future as sales climb by 30% Rise in global food prices expected to continue Business Diary: HR Owen boss is well-qualified De La Rue staff faked banknote quality tests Social housing group calls in KPMG as administrators
Read the rest here:
HP sues Hurd to stop him heading to Oracle
HSBC chairman Stephen Green is to join the Government as Trade Minister next January, the banking giant confirmed today. Related Stories Diamond to be unveiled as Barclays chief executive Social housing firm ‘close to collapse’ Bob Diamond named as new Barclays boss Social housing firm Connaught ‘close to collapse’ Banker at centre of pay reward anger named Barclays chief
Read the rest here:
HSBC chief Green to be trade minister
Devon-based social housing giant Connaught is on the brink of collapse, it was reported. Related Stories Business diary: Thieves reject Aviva’s bikes Sales of new cars tumble again in August Diamond to be unveiled as Barclay’s chief exec Diamond to be unveiled as Barclay’s chief executive Diamond to be unveiled as Barclays chief executive
View original here:
Social housing firm ‘close to collapse’
Devon-based social housing giant Connaught is on the brink of collapse, it was reported.
Go here to see the original:
Social housing firm Connaught ‘close to collapse’
Multi-millionaire banker Bob Diamond was named as the next chief executive of banking group Barclays today. Related Stories Sales of new cars tumble again in August Diamond to be unveiled as Barclay’s chief exec Diamond to be unveiled as Barclay’s chief executive Diamond to be unveiled as Barclays chief executive Social housing firm ‘close to collapse’
Read more here:
Bob Diamond named as new Barclays boss
Multi-millionaire banker Bob Diamond will be named today as the next chief executive of banking group Barclays, it emerged. Related Stories Retail sales ease the gloom despite mixed picture on the high street Business diary: Thieves reject Aviva’s bikes Sales of new cars tumble again in August Diamond to be unveiled as Barclay’s chief exec Diamond to be unveiled as Barclay’s chief executive
Read the original post:
Diamond to be unveiled as Barclays chief executive
The chief executive of Equitable Life made a last-ditch bid yesterday to persuade ministers to honour a manifesto commitment to fully compensate victims of the collapse of the life insurer. Related Stories Manufacturing stages a record-beating recovery New bank will be backed by Rothschild Further fall in new car sales Barclays to create 600 jobs Treasury rejects EU move to scrap Britain’s rebate
Read the rest here:
Equitable in final push for member compensation
The Treasury has angrily dismissed calls from the European Union for Britain’s EU Budget rebate to be abolished. A spokesman for the Chancellor said: “The UK abatement remains fully justified. It’s a matter of fairness.” Related Stories Manufacturing stages a record-beating recovery New bank will be backed by Rothschild Further fall in new car sales Barclays to create 600 jobs Equitable in final push for member compensation
Original post:
Treasury rejects EU move to scrap Britain’s rebate
Sales of new cars tanked in August and are set to fall for the rest of 2010, as weak consumer confidence and the end of the scrappage scheme takes its toll. Related Stories Macquarie warns of slump in profits Jobs supported by public spending Tesco director takes up non-executive post at ITV Retail sales ease the gloom despite mixed picture on the high street Business diary: Thieves reject Aviva’s bikes
View original post here:
Sales of new cars tumble again in August
Have London’s bike thieves gone on holiday? When Aviva wanted to promote its bike insurance policies, it struck on the bright idea of leaving a few unlocked bikes round the capital so that it would be able to tell everyone how quickly they had been pinched. The only problem being that the criminal community didn’t seem to want to play ball.
More here:
Business diary: Thieves reject Aviva’s bikes
Tesco’s Lucy Neville-Rolfe has joined ITV as a non-executive director to help drive its new team’s turnaround and tackle potential regulatory hurdles. Related Stories Macquarie warns of slump in profits Jobs supported by public spending Retail sales ease the gloom despite mixed picture on the high street Business diary: Thieves reject Aviva’s bikes Sales of new cars tumble again in August
Read the original:
Tesco director takes up non-executive post at ITV
Macquarie, the one-time bidder for the London Stock Exchange and Australia’s largest investment bank, yesterday warned that first-half profits could slump by a quarter as a result of “weakening market conditions”.
See original here:
Macquarie warns of slump in profits
Barclays announced today that it is to create up to 600 jobs in Scotland, providing a much-needed boost to the financial services industry. Related Stories Business Diary: From hero to (almost) zero Waterstone ‘keen to take back control’ of his bookstores Manufacturing stages a record-beating recovery New bank will be backed by Rothschild Further fall in new car sales
Continued here:
Barclays to create 600 jobs
New car sales dipped again last month and are set to continue to fall for the rest of the year, it was announced today. Related Stories Tax debacle could cost you £100 each month Business Diary: From hero to (almost) zero Waterstone ‘keen to take back control’ of his bookstores Manufacturing stages a record-beating recovery New bank will be backed by Rothschild
Excerpt from:
Further fall in new car sales
A remarkable resurgence by British manufacturing industry is reported today by the Engineering Employers’ Federation (EEF). Related Stories Job creation looks much sunnier after summer break, says Reed Tax debacle could cost you £100 each month Business Diary: From hero to (almost) zero Waterstone ‘keen to take back control’ of his bookstores New bank will be backed by Rothschild
Go here to see the original:
Manufacturing stages a record-beating recovery
More than 45,000 people will this week receive letters from HM Revenue & Customs (HMRC) to give them warning that their employers have not deducted the correct amount of tax from their pay packets and that they have underpaid or overpaid as a result.
Read more from the original source:
Tax debacle could cost you £100 each month
Two surveys of the jobs market suggest that demand for for staff held steady or even expanded last month, with small and medium-sized businesses especially optimistic about their prospects. Related Stories Tax debacle could cost you £100 each month Business Diary: From hero to (almost) zero Waterstone ‘keen to take back control’ of his bookstores Manufacturing stages a record-beating recovery New bank will be backed by Rothschild
Read more:
Job creation looks much sunnier after summer break, says Reed
Michael Grade, the former chairman of both the BBC and ITV, is said to be the favourite to acquire Andrew Lloyd Webber’s £200m intellectual property estate. Related Stories Tax debacle could cost you £100 each month Business Diary: From hero to (almost) zero Waterstone ‘keen to take back control’ of his bookstores Manufacturing stages a record-beating recovery New bank will be backed by Rothschild
See original here:
Grade bids for Lloyd Webber hits
The world economy is recovering moderately but still faces challenges such as the need for medium-term fiscal consolidation, the IMF’s deputy managing director, John Lipsky, said yesterday. Related Stories Tax debacle could cost you £100 each month Business Diary: From hero to (almost) zero Waterstone ‘keen to take back control’ of his bookstores Manufacturing stages a record-beating recovery New bank will be backed by Rothschild
Original post:
IMF hopeful on reform but more cautious about deficits
The Irish Government will today ask the European Commission for permission to “decommission” the nationalised Anglo Irish Bank.
More here:
Anglo-Irish Bank will be wound up
Britain’s building industry was facing a bleak future today after construction orders suffered a dramatic 14% fall between April and June. Related Stories Another 3,500 jobs to go at RBS Currys owner DSG scores World Cup sales boost Burger King to be sold for $3.26bn Gulf oil disaster costs BP £5.2 billion Spain extradition order for man accused of girlfriend’s murder
Original post:
‘Grim’ outlook for building industry as orders fall
Oil giant BP said today that the cost of tackling the Gulf of Mexico disaster had risen to £5.2 billion so far.
View original here:
Gulf oil disaster costs BP £5.2 billion
The private equity arm of Lloyds, the state-backed bank, has bought a significant stake in the fast-growing outdoor retailer Mountain Warehouse. Related Stories Online gambler 888 Holdings axes dividend Americans more confident despite fears of double dip House prices set to slump even further as home loans stay scarce 600 jobs go at Standard Life Sir Stelios launches no-frills gym chain
Burger King, the No. 2 US fast-food chain, agreed to sell itself to investment firm 3G Capital for about $3.26bn in a deal analysts said would give the restaurant breathing room to fix its business. Related Stories Business Diary: Whole Foods in Solihull slip-up?
See more here:
Burger King to be sold for $3.26bn
Royal Bank of Scotland is axing another 3,500 jobs under plans to more than halve the bank’s administration centres across the UK, it was announced today. Related Stories Spotify signs deal to bring its service to the living room Ex-Lehman boss accuses Fed of worsening crisis Business Diary: Whole Foods in Solihull slip-up? Accident Exchange to delist shares after refinancing in effort to cut debt by £63m Britain’s deficit is constraining public finances, says IMF report
View original here:
Another 3,500 jobs to go at RBS
Dick Fuld, the former chief executive of Lehman Brothers, let loose his bitterness at the US government’s failure to save his investment bank in 2008, saying that the company was “sound” even in the dying hours of the Sunday that sealed its fate. Related Stories China threatens to launch inquiry into BHP’s £26bn PotashCorp bid Spotify signs deal to bring its service to the living room Business Diary: Whole Foods in Solihull slip-up? Accident Exchange to delist shares after refinancing in effort to cut debt by £63m Britain’s deficit is constraining public finances, says IMF report
Spotify has signed a deal to take its music-streaming service beyond the PC and into every room in the house, in a move to encourage more customers to pay for a monthly subscription. Related Stories China threatens to launch inquiry into BHP’s £26bn PotashCorp bid Ex-Lehman boss accuses Fed of worsening crisis Business Diary: Whole Foods in Solihull slip-up? Accident Exchange to delist shares after refinancing in effort to cut debt by £63m Britain’s deficit is constraining public finances, says IMF report
See more here:
Spotify signs deal to bring its service to the living room
Chinese regulators are considering an investigation into BHP Billiton’s proposed $40bn (£26bn) takeover of Potash Corporation of Saskatchewan. Related Stories Spotify signs deal to bring its service to the living room Ex-Lehman boss accuses Fed of worsening crisis Business Diary: Whole Foods in Solihull slip-up? Accident Exchange to delist shares after refinancing in effort to cut debt by £63m Britain’s deficit is constraining public finances, says IMF report
View post:
China threatens to launch inquiry into BHP’s £26bn PotashCorp bid
The Scottish insurance giant Standard Life will axe up to 600 jobs over the next 15 months as part of efforts to cut £100m from the company’s costs by the end of next year. Related Stories Spotify signs deal to bring its service to the living room Ex-Lehman boss accuses Fed of worsening crisis Business Diary: Whole Foods in Solihull slip-up? Accident Exchange to delist shares after refinancing in effort to cut debt by £63m Britain’s deficit is constraining public finances, says IMF report
See original here:
Standard Life cuts 600 jobs in £100m cost-cutting drive
The fast food giant Burger King is thought to be in talks with private equity firms after hoisting the for-sale sign above its global restaurants. Related Stories Spotify signs deal to bring its service to the living room Ex-Lehman boss accuses Fed of worsening crisis Business Diary: Whole Foods in Solihull slip-up? Accident Exchange to delist shares after refinancing in effort to cut debt by £63m Britain’s deficit is constraining public finances, says IMF report
View original here:
Private equity set to feast on Burger King
BP is selling its stakes in two Malaysian petrochemical production businesses to Malaysia’s Petronas for $363m (£235m) to help raise money to pay for the Gulf of Mexico oil spill.
Go here to see the original:
BP to raise $363m from Malaysian sales
Ofgem has launched an investigation into four energy companies amid concerns of mis-selling to consumers. The energy regulator said it was prepared to take “strong action” if it found that npower, Scottish Power, Scottish and Southern Energy and EDF Energy were failing to comply with new obligations to prevent mis-selling.
Read the rest here:
Ofgem investigates four energy firms
Major sales for the likes of pop diva Lady Gaga, left, and Florence & the Machine failed to prevent falling half-year revenues at record label Universal Music, figures showed yesterday.
Read the rest here:
Universal suffers slide in sales
Serial entrepreneur Sir Stelios Haji-Ioannou today announced plans to expand his empire with the launch of no-frills fitness club chain easyGym. Related Stories Business Diary: There’s no place like gnome Online gambler 888 Holdings axes dividend Americans more confident despite fears of double dip House prices set to slump even further as home loans stay scarce 600 jobs go at Standard Life
Original post:
Sir Stelios launches no-frills gym chain
The housing market faces a “double-dip” recession this year, with falling prices and a rising tide of negative equity hitting homeowners hard.
Read the original post:
House prices set to slump even further as home loans stay scarce
Shed Media said it overcame a “turbulent” television market in the first half of the year as it reported a 22 per cent rise in adjusted pre-tax profits. Related Stories India’s middle class drives economic growth of 8.8% Business Diary: There’s no place like gnome Online gambler 888 Holdings axes dividend Americans more confident despite fears of double dip House prices set to slump even further as home loans stay scarce
Read the original here:
Shed Media profit increases by 22 per cent
In a move that will embarrass Treasury ministers keen to move the uprating of benefits to the consumer price index (CPI) rather than the retail price index (RPI), the president of the Royal Statistical Society has written to the chairman of the UK Statistics Authority, Sir Michael Scholar, complaining about changes to the official inflation measurement. Related Stories India’s middle class drives economic growth of 8.8% Business Diary: There’s no place like gnome Online gambler 888 Holdings axes dividend Americans more confident despite fears of double dip House prices set to slump even further as home loans stay scarce
View original post here:
Authorities under fire for RPI switch
EDF Energy is raising electricity charges by 2.6 per cent by for 1.2 million customers. The price increase will come into effect on 1 October and will affect households on standard tariffs in 11 of EDF’s 14 regions across Britain, as well as those on its “Economy 7″ tariff in three areas. Related Stories India’s middle class drives economic growth of 8.8% Business Diary: There’s no place like gnome Online gambler 888 Holdings axes dividend Americans more confident despite fears of double dip House prices set to slump even further as home loans stay scarce
Read the rest here:
EDF Energy puts up electricity bills
Mark Hurd, the former chief executive of Hewlett-Packard who was ousted in a sex and expenses scandal at the computer manufacturer, has also resigned from the board of Rupert Murdoch’s media giant, News Corporation.
View post:
Disgraced Hurd leaves News Corp
Mortgage lending dived sharply in July as activity in the housing market remained subdued, figures showed today.
Go here to read the rest:
Mortgage lending dives sharply to £86m
Unemployment is set to breach the psychologically important 10 per cent level over the next five years – but only in the north of the country, a leading economics think-tank warns today. Related Stories Pension benefits threatened by sharp increase in new members Business Diary: High noon for Wild West cheats Airline stocks outstripping equities by a factor of two Intel pays $1.4bn for Germany’s Infineon Taxpayers set to pocket £27bn from bailing out Britain’s banks
See more here:
One in 10 northerners ‘will be jobless in next 5 years’
The silicon chip-maker Intel is making its second major acquisition in a fortnight in a bid to gain a foothold in the smartphone industry.
Original post:
Intel pays $1.4bn for Germany’s Infineon
Cheating is apparently not only the preserve of international cricketers. It also raised its ugly head this week among online players of the superb computer game Red Dead Redemption, in which players take the role of all-round cowboy badass John Marston
Read the original:
Business Diary: High noon for Wild West cheats
Employers are set to slash pension benefits to staff as a consequence of being forced to enrol millions of new employees into company schemes, a report warns today.
Read more:
Pension benefits threatened by sharp increase in new members
Hewlett-Packard has agreed to pay $55m (£35m) to settle kickback allegations related to federal government contracts. Related Stories Business Diary: High noon for Wild West cheats Airline stocks outstripping equities by a factor of two Intel pays $1.4bn for Germany’s Infineon One in 10 northerners ‘will be jobless in next 5 years’ Taxpayers set to pocket £27bn from bailing out Britain’s banks
Spending by American consumers rose in July at its fastest rate for four months, the US Commerce Department said.
Read the original:
US consumer spending beats forecast for July
The Japanese government is putting together a Y920bn (£7bn) stimulus package and the Bank of Japan is increasing its bank lending programme by Y10,000 trillion in an effort to curb the steep rise of the yen and support the country’s fragile economic recovery.
Read more here:
Japan tries to curb sharp rise of yen
Disney is closing in on a deal that will wring more money from the US cable giant Time Warner Cable (TWC) for carriage of the Disney television channels. Related Stories Business Diary: High noon for Wild West cheats Airline stocks outstripping equities by a factor of two Intel pays $1.4bn for Germany’s Infineon One in 10 northerners ‘will be jobless in next 5 years’ Taxpayers set to pocket £27bn from bailing out Britain’s banks
View original post here:
Disney and TWC near deal on rights row
The deterioration in UK house prices accelerated in August and values could continue to fall for the next year, Hometrack has revealed.
Here is the original post:
Fall in UK house prices gathers pace in August
Despite the recession causing a fall in the combined billing fees of the UK’s 100 biggest law firms for the first time in nearly 20 years, top lawyers are earning more than ever. Related Stories Kate Moss to end her Topshop line Vodafone plans £4bn Chinese sale BCC raises GDP forecasts but is wary of impact of coalition cuts Fall in UK house prices gathers pace in August Warren Buffett plots bid for RBS’s Direct Line division
View original here:
Top lawyers toast record earnings but revenues fall
The British Chambers of Commerce (BCC) has upgraded its growth forecasts for the UK economy for this year and next, but gave warning that the Government’s austerity measures will take their toll on growth in the medium term. Related Stories Kate Moss to end her Topshop line Vodafone plans £4bn Chinese sale Top lawyers toast record earnings but revenues fall Fall in UK house prices gathers pace in August Warren Buffett plots bid for RBS’s Direct Line division
Original post:
BCC raises GDP forecasts but is wary of impact of coalition cuts
They both made huge sums of money for each other, but the three-year design partnership between the supermodel Kate Moss and the retail tycoon Sir Philip Green will draw to a close later this year.
Read more:
Kate Moss to end her Topshop line
Six out of 10 British viewers say they will welcome product placement if it means free content or cheaper premium television, with experts predicting the advertising could be worth more than £100m as the economy recovers. Related Stories Vodafone plans £4bn Chinese sale BCC raises GDP forecasts but is wary of impact of coalition cuts Top lawyers toast record earnings but revenues fall Fall in UK house prices gathers pace in August Warren Buffett plots bid for RBS’s Direct Line division
View original post here:
Brits favour product ads if they get cheaper TV content
A cap on mortgage lending is planned by the Bank of England in order to prevent another credit crisis, it was reported last night. Related Stories Vodafone plans £4bn Chinese sale BCC raises GDP forecasts but is wary of impact of coalition cuts Top lawyers toast record earnings but revenues fall Fall in UK house prices gathers pace in August Warren Buffett plots bid for RBS’s Direct Line division
Originally posted here:
Bank may restrict mortgage lending
The crackdown on Whitehall inefficiency will soon hit close to home as the House of Commons seeks to appoint consultants on hot-desking and new ways of working in Westminster. Related Stories Bean backs coalition restructuring of Bank Malaysian workers’ savings fund launches £1bn spending spree Anglo puts Scaw arm’s $1bn assets up for sale Free market has turned us into ‘Matrix’ drones The City Diary: When is a loan not a loan? When it’s from Cantor
View original post here:
Commons seeks consultants on hot-desk efficiency
I’ll begin with a case that has just hit the High Court, which gives an intriguing insight into the workings of the City. Related Stories Bean backs coalition restructuring of Bank Malaysian workers’ savings fund launches £1bn spending spree Anglo puts Scaw arm’s $1bn assets up for sale Free market has turned us into ‘Matrix’ drones Commons seeks consultants on hot-desk efficiency
The rest is here:
The City Diary: When is a loan not a loan? When it’s from Cantor
Steelworkers were celebrating tonight after news that a huge plant mothballed earlier this year with the loss of more than 1,000 jobs is to be sold under a multimillion-pound deal to a Thai company.
Excerpt from:
Celebrations over sale of mothballed steel plant
A steel plant mothballed earlier this year with the loss of more than 1,000 jobs is to be sold to a Thai company, it was announced today. Related Stories Lloyds bank facing 1,850 complaints per day Good news on high street sales RBS to close 14 insurance offices Economy growth is faster than first thought Fresh delay for Dreamliner aircraft
Read more here:
Mothballed steel plant to be sold
Boeing’s new “lean and green” Dreamliner aircraft, due to be delivered to a number of UK airlines, has suffered another delay, it was announced today. Related Stories Lloyds bank facing 1,850 complaints per day Good news on high street sales RBS to close 14 insurance offices Economy growth is faster than first thought
Here is the original post:
Fresh delay for Dreamliner aircraft
Britain’s economy expanded at a faster pace than first thought with growth of 1.2% in the second quarter of the year, a rate not seen for nine years, official figures revealed today.
Here is the original post:
Economy growth is faster than first thought
Royal Bank of Scotland said today that it was axing 14 of the 27 offices in its Churchill and Direct Line business under existing plans to cut 2,000 jobs. Related Stories Irish debt downgrade raises fears of international deflation spiral Diageo reports 13 per cent rise in earnings RBS ‘to announce insurance office closures’ Lloyds bank facing 1,850 complaints per day Good news on high street sales
The rest is here:
RBS to close 14 insurance offices
Retailers predicted another month of strong growth today in a further sign that the feared slump in high street spending has yet to materialise. Related Stories Tullow Oil dragged down by Ugandan tax dispute Irish debt downgrade raises fears of international deflation spiral Diageo reports 13 per cent rise in earnings RBS ‘to announce insurance office closures’ Lloyds bank facing 1,850 complaints per day
View original post here:
Good news on high street sales
Lloyds Banking Group received nearly 2,000 complaints a day from disgruntled customers during the first half of the year, figures showed today. Related Stories BHP promises not to overpay for Canada’s PotashCorp Tullow Oil dragged down by Ugandan tax dispute Irish debt downgrade raises fears of international deflation spiral Diageo reports 13 per cent rise in earnings RBS ‘to announce insurance office closures’
Originally posted here:
Lloyds bank facing 1,850 complaints per day
Diageo Plc the world’s biggest spirits group, expects higher profits growth this year driven by developing markets after broadly meeting forecasts on Thursday with a 13 per cent rise in annual earnings. Related Stories Demand for gold soars on double-dip recession fear Business Diary: Confused by that meerkat BHP promises not to overpay for Canada’s PotashCorp Tullow Oil dragged down by Ugandan tax dispute Irish debt downgrade raises fears of international deflation spiral
Excerpt from:
Diageo reports 13 per cent rise in earnings
The colossal expense of rescuing Ireland’s troubled banking sector has hit the republic’s international credit rating once again. Related Stories Hat-trick of annual losses for Pizza Hut in the UK Demand for gold soars on double-dip recession fear Business Diary: Confused by that meerkat BHP promises not to overpay for Canada’s PotashCorp Tullow Oil dragged down by Ugandan tax dispute
See the rest here:
Irish debt downgrade raises fears of international deflation spiral
Tullow Oil was the FTSE 100’s second-biggest faller yesterday after the company admitted its deal to buy a stake in a key Ugandan oil field is being held up by a tax dispute between the seller, Heritage, and the government in Kampala. Related Stories Hat-trick of annual losses for Pizza Hut in the UK Demand for gold soars on double-dip recession fear Business Diary: Confused by that meerkat BHP promises not to overpay for Canada’s PotashCorp Irish debt downgrade raises fears of international deflation spiral
Go here to read the rest:
Tullow Oil dragged down by Ugandan tax dispute
World demand for gold shot up by more than a third in the second quarter as recession-spooked investors continued to look to the yellow metal as a safe haven. Related Stories Hat-trick of annual losses for Pizza Hut in the UK Business Diary: Confused by that meerkat BHP promises not to overpay for Canada’s PotashCorp Tullow Oil dragged down by Ugandan tax dispute Irish debt downgrade raises fears of international deflation spiral
Continued here:
Demand for gold soars on double-dip recession fear
The London markets were believed to have fallen victim to “fat finger failure” yesterday, after trading in five stocks was temporarily suspended following wild swings in their pricing.
Read more here:
Market insiders blame ‘fat finger failure’ for unusual stock swings
BHP Billiton is hoping that a huge jump in annual profits, set to be announced this morning, will be enough to frighten off any potential rivals for Potash Corporation of Saskatchewan, which last week rejected a $38.5bn (£24.9bn) bid from the mining giant.
See the original post:
BHP Billiton hopes jump in profits will help PotashCorp bid
Workers at the pharmaceutical giant AstraZeneca will stage a series of strikes next month in a row over pensions. Related Stories Channel 5 returns to Project Canvas fold BHP Billiton hopes jump in profits will help PotashCorp bid Double dip concerns send gilt yields to an all-time low Market insiders blame ‘fat finger failure’ for unusual stock swings WPP profits up a third following surprise ad market recovery
View original post here:
AstraZeneca staff in pensions strike
Congrats (we think) to Steve Easterbrook. The boss of McDonald’s UK and president of Northern Europe has been promoted to “global chief brand officer” (whatever that is). But Diary could not help but notice the deliciously convenient surname of his successor: step forward Jill McDonald, who moves up from her job as the chief marketing officer at McDonald’s UK.
Mortgage lending remained subdued during July as the housing market failed to pick up, figures showed today. Related Stories Swannell to chair M&S from October PotashCorp pins hopes on white knight offer Profits plunge at Ashcroft’s Caribbean bank business Vodafone reveals portable WiFi Energy firm ‘discovers oil’ off Greenland
Excerpt from:
Mortgage lending remains subdued
Falling profits at Lord Ashcroft’s Caribbean banking business have sent shares in his British holding company towards all time lows.
View original post here:
Profits plunge at Ashcroft’s Caribbean bank business
Potash Corporation of Saskatchewan reasserted its opposition to BHP Billiton’s $38.5bn (£25bn) takeover bid yesterday, insisting that other companies are waiting to make a counter offer.
Read the rest here:
PotashCorp pins hopes on white knight offer
Marks & Spencer has confirmed Robert Swannell as its next chairman, bringing to a close months of speculation and the more than six year tenure of Sir Stuart Rose. Related Stories Business Diary: Amlin a winner at jargon game BP’s spill claims handed to independent assessor Fight for control of Minerva gets nasty as EGM date approaches PotashCorp pins hopes on white knight offer Profits plunge at Ashcroft’s Caribbean bank business
Read the original:
Swannell to chair M&S from October
The process of adjudicating damages claims against BP for the Gulf of Mexico oil disaster was officially transferred to an independent organisation yesterday – but anger along the Gulf Coast and legal uncertainty surrounding the compensation awards mean that BP will not quickly know the total bill it faces. Related Stories Business Diary: Amlin a winner at jargon game Fight for control of Minerva gets nasty as EGM date approaches Swannell to chair M&S from October PotashCorp pins hopes on white knight offer Profits plunge at Ashcroft’s Caribbean bank business
Go here to see the original:
BP’s spill claims handed to independent assessor
Insurance, eh. It’s really a simple concept – you pay the company a premium, they cover your costs if the worst happens. What’s made it look complex is a talent for obfuscation that is even now plumbing new depths.
See the original post here:
Business Diary: Amlin a winner at jargon game
Vodafone is launching a portable WiFi hotspot allowing users to access the internet using mobile broadband with up to five devices at once. The R201 also has enough on-board memory to store digital media such as photos, video or music files. Related Stories BP’s spill claims handed to independent assessor Fight for control of Minerva gets nasty as EGM date approaches Swannell to chair M&S from October PotashCorp pins hopes on white knight offer Profits plunge at Ashcroft’s Caribbean bank business
See the original post:
Vodafone reveals portable WiFi
Marks & Spencer ended months of speculation over its succession plans today when it named City banker Robert Swannell as its next chairman. Related Stories HSBC eyes £4.5bn stake in Nedbank Migrants stepping into UK skills gap Business confidence falls in last quarter Bovis highlights fragile housing market M&S names new chairman
Here is the original post:
City banker Swannell is new M&S chairman
Former investment banker Robert Swannell will become chairman of retail giant Marks & Spencer in January, the company announced today. Related Stories HSBC eyes £4.5bn stake in Nedbank Migrants stepping into UK skills gap Business confidence falls in last quarter Bovis highlights fragile housing market
Here is the original:
M&S names new chairman
Up to 150 stores of the old Woolworths empire might never be used by retailers again, according to the man behind a report produced for The Independent on Sunday.
See more here:
High streets blighted by empty Woolworths stores
Britain’s banks and retailers are facing a £60bn increase in their balance sheet liabilities if proposed accounting changes are implemented in 2013. Related Stories Evans Randall defies cooling market to buy City’s Drapers Gardens for £250m Marks & Spencer on the lookout for a ‘multi-channel retailing’ director Tea Folk revived Tetley to bring back the Gaffer Record number of companies to report on ‘Super Thursday’ Disneyland Paris falls well short of infinity
See more here:
Banks and retailers hit by accounting changes
Private equity giant 3i is looking to sell the maker of Tommee Tippee baby bottles for more than £200m. Related Stories Evans Randall defies cooling market to buy City’s Drapers Gardens for £250m Marks & Spencer on the lookout for a ‘multi-channel retailing’ director Tea Folk revived Tetley to bring back the Gaffer Record number of companies to report on ‘Super Thursday’ Disneyland Paris falls well short of infinity
Asda has hired a Wal-Mart veteran into the strategically important role of chief merchandising officer, strengthening its top team at a crucial time for the UK’s second biggest grocer. Related Stories High Street sales jump 1.1% Bank of Scotland to close down Bank of Scotland (Ireland) to close down O2 workers accept pay deal
Read the original:
Asda hires Wal-Mart veteran as its chief merchandising officer
Jersey Shore Season 2 Episode 4: latest news about Jersey Shore Season 2 Episode 4 updates, Jersey Shore Season 2 Episode 4 was a brilliant entertainer from all angles. It was a MUST watch episode never to miss. Here is the original: Jersey Shore Season 2 Episode 4 Jersey Shore Season 2 Episode 4 was first posted on August 20, 2010 at 7:29 am.
See original here:
Jersey Shore Season 2 Episode 4
Workers at mobile phone giant O2 have voted overwhelmingly to accept a two-year pay deal worth 5.25%, it was announced today. Related Stories Mortgage lending increases for third month Car production down 9% High Street sales jump 1.1% Bank of Scotland to close down Bank of Scotland (Ireland) to close down
Original post:
O2 workers accept pay deal
Bank of Scotland (Ireland) is to shut down, it confirmed today.
See the original post here:
Bank of Scotland (Ireland) to close down
Mortgage lending rose for the third consecutive month during July to reach its highest level for a year, figures showed today.
Read more:
Mortgage lending increases for third month
The high street avoided a World Cup hangover in July as retail sales volumes jumped 1.1%, official figures showed today. Related Stories Optimism on the high seas as freight shipping rebounds Pension fund hole adds to EMI’s problems BHP goes hostile with $40bn PotashCorp bid Mortgage lending increases for third month Car production down 9%
Originally posted here:
High Street sales jump 1.1%
BHP Billiton has turned hostile with the $40bn (£26bn) cash offer rejected by the Canadian fertiliser giant Potash Corporation as “highly opportunistic” and “grossly inadequate”.
See the original post here:
BHP goes hostile with $40bn PotashCorp bid
The world’s largest container shipping company and one of the biggest ports operators provided an optimistic snapshot of global trade, saying that the volume of goods carried on the high seas had continued its rebound from the depths of the recession. Related Stories Business Diary: A knighthood in the pipeline?
Read the original:
Optimism on the high seas as freight shipping rebounds
The collapse of Kiss Flights, which has caused chaos for up to 70,000 holidaymakers, is reigniting criticism of the Atol consumer protection scheme. Related Stories Business Diary: A knighthood in the pipeline? Realtime in administration Optimism on the high seas as freight shipping rebounds Pension fund hole adds to EMI’s problems BHP goes hostile with $40bn PotashCorp bid
View original here:
Collapse of Kiss shows strain on travel industry