Ryanair boss Michael O’Leary to seek CMA damages as Irish government gets green light May 17, 2015 Ryanair boss Michael O’Leary was fighting a rearguard battle with the Competition and Markets Authority (CMA) over the weekend as he sought to maintain his firm’s stake in Aer Lingus. The threat from O’Leary to seek damages from the regulator, made in the Telegraph, is the latest salvo in the long-running dispute. O’Leary has maintained [...]
Palatine orders up £13m buyout of cocktail chain The Alchemist May 17, 2015 Upmarket cocktail chain The Alchemist has said it is planning to gobble up more sites across the UK after completing a £13m management buyout backed by Palatine Private Equity. The Alchemist, which first opened its doors in Manchester in 2010, runs two venues in the city centre as well as sites in Leeds and in [...]
Turnover across UK restaurants reaches £21.6bn May 17, 2015 The turnover of Britain’s restaurant industry has risen by 39 per cent since the recession thanks to a wave of new start-ups and the growth of smaller chains to reach £21.6bn last year. Finance provider LDF said the turnover of the restaurant sector has grown from £15.5bn in 2010, driven by the expansion of so-called [...]
How Finncap weathered the General Election and Scottish referendum storms May 17, 2015 If a week is a long time in politics then nine months is an age – especially for City broker Finncap. The run-up to Scotland’s referendum in September and the run-in to May’s general election was the noisy backdrop for much of Finncap’s financial year. Despite a severe dampening of animal spirits across the Square [...]
Vodafone continues to weigh on quarterly UK dividend payments May 17, 2015 UK dividends fell by more than 60 per cent to $19.1bn in the first quarter after Vodafone’s bumper payout last year continued to distort headline figures. The telecoms giant made a special $26bn payment to investors on the back of its Verizon Wireless deal last year – making this year’s quarterly dividend payout pale in [...]
Strong sterling fails to hinder UK exporters May 17, 2015 Britain’s manufacturers are seeing a sharp rise in exports despite unfavourable exchange rates, according to survey data released today by the British Chambers of Commerce (BCC) and delivery firm DHL Express. A greater number of export orders was seen by 46 per cent of manufacturers in the first three months of the year. It compares [...]
Bernard Matthews in hunt for £10m rescue May 17, 2015 Struggling poultry supplier Bernard Matthews is seeking £10m in order to stay afloat just 16 months after being rescued by a private equity firm. The company has been trying to stem losses ever since 2007 when its stock of birds was struck by avian flu. Bernard Matthews was thrown a life-line by private equity investors [...]
Accountants poised to hike fees as economy strengthens May 17, 2015 A greater number of accountants are planning to lift their fees over the next year as they take advantage of the strengthening economy. A fee rise is planned by 24 per cent of accountancy firms, according to survey figures released today by tax and accounting information firm Bloomsbury Professional. It compares with 17 per cent [...]
UK house prices: What effect does the unemployment rate have on the cost of a home? May 17, 2015 Average house prices in the twenty local authorities with the highest rate of unemployment have risen by just £4,100 since 2009, while low unemployment areas have risen by an average of £65,000, according to analysis from Lloyds. The figures The raw numbers translate to increases of 25 per cent for the areas with the lowest [...]
Corfu deaths: Thomas Cook “received £3.5m payout” for loss of profits May 17, 2015 Thomas Cook confirmed it received compensation from the Greek hotel where two children were killed by carbon monoxide poisoning. The travel company has not revealed the amount it was paid out but according to The Mail on Sunday it received around £3.5m to cover refunds, loss of profits and other expenses following the deaths of [...]