PERSONAL FINANCE NEWS October 14, 2010 THIRD OF ADULTS WITHOUT SAFETY NET Almost a third of adults have less than £249 set aside as a financial safety net and 19 per cent have no savings at all to fall back on, according to new research from HSBC. This is equivalent to just five days average take home pay while the recommended [...]
M&S profits up but warns over future October 7, 2010 MARKS & SPENCER said yesterday that its sales were rising but that “it is far from clear” what impact forthcoming government cuts would have on its customers. Like-for-like sales in the UK, which strip out the impact of sales from new stores, rose by 5.3 per cent in the three months to the beginning of [...]
CITY MOVES | WHO’S SWITCHING JOBS October 13, 2010 PwC The accountancy firm has appointed three new senior managers to its business continuity team, part of the risk assurance practice. Tom Buchanan, who previously worked at Barclays and Tesco, joins the crisis management team. James Cooke joins from Deloitte to focus on IT disaster and service recovery planning, while James Crask (pictured) will develop [...]
Asda warns of shopper misery as sales drop August 17, 2010 SUPERMARKET chain Asda said yesterday shoppers were being hit in the pocket by government cuts as like-for-like sales excluding fuel fell 0.4 per cent in the second quarter. The chain said its market share had reduced in the 12 weeks to 11 July as total sales crept up “in the low single digits”. Chief executive [...]
Making millions from potatoes September 9, 2010 No one has ever written a book about how to make a million from a potato, but Will Chase could. The founder of Tyrrells crisps – the posh ones that brought the vegetable crisp to the tables of the upper middle class – has now turned his hand to vodka, made from the spuds grown [...]
FTSE 100 bounces back after a strong performance from the financial sector October 18, 2010 Britain’s top shares rebounded yesterday after falls in the past two sessions, boosted by oils and banks, with better-than-expected results from Citigroup and hopes of more US economic stimulus improving sentiment. The FTSE 100 index ended 39.15 points, or 0.7 per cent, higher at 5,742.52 after falling last Thursday and Friday. The index is up [...]
Google and Tesco to rival estate agents February 18, 2010 TESCO and Google are poised to offer real estate listings in the UK, radically reshaping the landscape of Britain’s housing market. The consumer giants’ onslaught on the property market comes after a report from the Office of Fair Trading (OFT) suggested that legislation dating back to 1979 should be relaxed to allow more online estate [...]
Fortis successor Ageas reports strong earnings August 25, 2010 BELGIAN insurer Ageas reported a surge of cash coming into its business in the first half, particularly in Asia, and strong earnings from its life insurance business. The company, formerly known as Fortis, said yesterday that inflows grew by 22 per cent during the first six months of 2010 and by 59 per cent in [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 8, 2010 FINANCIAL TIMES PROPOSAL FOR GRADUATE HIGH-FLIERS TO PAY EDUCATION PREMIUM Government officials are considering a plan to make graduates who become big earners pay a premium for their education as the coalition seeks ways to find extra money for universities. The novel policy proposal reflects a desire by Conservative coalition members to appease Liberal Democrat [...]
Christmas will come early to the high street October 6, 2010 HIGH-STREET retailers have every reason to be cautious right now. If it isn’t the government squeezing households’ disposable incomes with one hand and hiking VAT with the other, then surges in the prices of commodities such as cotton, which is at a 15-year high, are threatening margins. Only last month Next chief executive Simon Wolfson [...]