Bullish results for Martin Sorrell’s WPP: World’s largest advertising group reports 12 per cent jump in profits March 9, 2015 2015 has started well for the world’s largest advertising group and its chief Martin Sorrell. The figures WPP has announced a 12 per cent boost in profit before tax during 2014: it rose to £1.5bn, with sales of £11.5bn, five per cent higher than in 2013. The company also started January well, with like-for-like sales rising an [...]
Mayfair flat just bigger than a bathroom lets within 40 minutes for £1,560 per month March 9, 2015 London's property market appears as hot as ever, after a flat in luxurious Mayfair only a little bigger than a bathroom took just 40 minutes to let. Boasting just 301 sq ft, the one-bedroom flat in Pollen Street has set a new record for speed in London's notorious rental market. Mayfair agent E J Harris [...]
Exclusive: Prudential to hire ex FCA regulator Clive Adamson March 9, 2015 Clive Adamson, who quit the Financial Conduct Authority (FCA) as director of supervision ahead of a critical report into its conduct before Christmas, is joining the Prudential, two sources have told City A.M. Adamson is understood to be joining Prudential’s UK business, possibly in a non-executive capacity. Although Adamson’s departure from the FCA was widely [...]
Cheap oil has potential to give UK extra 121,000 jobs in 2016 March 9, 2015 The UK economy could be set for a massive jobs boost next year, provided oil prices remain subdued, financial services firm PwC said today. An oil price of $50 per barrel would create an extra 121,000 jobs in 2016 compared to if prices had stayed at their mid-2014 level of $108, PWC forecasts. It is [...]
Firms accused of failing to be smart with energy bills: Almost half have never switched suppliers March 9, 2015 UK businesses are failing to save money on energy bills by staying with existing power suppliers rather than switching. Almost half, 47 per cent, of businesses have never switched suppliers or tariffs, despite 75 per cent of SMEs, which represents 3.9m businesses, believing they pay too much for their utilities, according to research from energy [...]
First Utility calls on rivals to help customers save March 9, 2015 ENERGY supplier First Utility has challenged its competitors to scrap variable tariffs, and make it easier for customers to switch to cheaper tariffs. The company says more needs to be done to help consumers avoid overpaying on their energy bills. According to First Utility, 70 per cent of Big Six customers are overpaying by an [...]
John Lewis Partnership poised to reduce bonus payout to staff March 9, 2015 THE JOHN Lewis Partnership will this week seek to cut its bonus pot for staff for a second year in a row after the supermarket price war took its toll on sales at its upmarket grocery chain Waitrose. Waitrose has grown sales and market share faster than its traditional supermarket rivals in recent years, thanks [...]
Zegona Communications IPO: Peppa Pig backer Marwyn puts aside £12m for new Aim entry March 9, 2015 Investment fund Marwyn will be the chief investor in Zegona Communications once the company lists on the Alternative Investment Market (Aim), it was revealed yesterday. The fund, which is also a backer of Peppa Pig, will be investing up to £12m in the new company which was set up earlier this month by former executives [...]
Sir Philip Green poised for BHS sell-off March 9, 2015 Update: This deal has now gone through. Read the full details here. Sir Philip Green (pictured above with TV star Holly Willoughby )is understood to be close to agreeing a deal to sell troubled department store chain BHS in a move that would break up his Arcadia empire. American hedge fund Apollo’s retail fund [...]
Britons splash out on holidays in February after confidence boost March 9, 2015 Consumer spending power hit a seven-month high in February as higher wage growth, falling inflation and lower petrol costs helped boost confidence. Britons spent 4.1 per cent more last month than at the same time a year earlier thanks to people spending more on travel and leisure activities around the February half-term, according to figures [...]