PERSONAL FINANCE NEWS July 29, 2010 STAYCATION IS STILL IN FAVOUR Britons are feeling the pinch when it comes to holidays with almost 40 per cent of us actively trying to spend less money on our holidays this year. And of those looking to cut back, more than half have decided not to go abroad to cut costs. A survey by [...]
Grape escapes: make the vineyard dream come true July 29, 2010 I’D guess that at some point in your career in the City you’ve sat back and daydreamed about a life outdoors, working the land, relaxing at sunset on a terrace overlooking your vines and sipping the product of your labour. Vineyard properties are among the most magical, particularly those in the well-known grape regions of [...]
Tobacco ‘price fixers’ hit with £225m fine April 16, 2010 BRITAIN’S largest two tobacco manufacturers and ten retail groups have been fined a total of £225m by the Office of Fair Trading (OFT). Imperial Tobacco and Gallaher as well as the stores – including Asda and the Co-op – were hit with fines after a seven-year investigation into price fixing. The tobacco companies agreed to [...]
Be chairman of the board in this City penthouse May 6, 2010 SPENDING one’s working day in the boardroom is one thing, but living in one? That’s the option awaiting anyone who snaps up this smart-as-they-come penthouse on the edge of the City. The triplex three bedroom apartment called The Provenance (you’ll just have to get used to the name) sits at the top of a Victorian [...]
CITY VIEWS: WOULD YOU EXPECT CO-OP BANK TO PROSPER IN THE DOWNTURN? October 12, 2009 CHRIS CLARKE BRITISH LAND FINDERS“It would be interesting to see where the people opening the new accounts are coming from. Are they people who cannot get accounts elsewhere, or is there a north/south divide? I think the man on the street probably sees that the Co-op is doing well and has not had any bad [...]
Leahy checks out of the top job at Tesco June 8, 2010 TESCO shocked the City yesterday by announcing that boss Sir Terry Leahy would retire in March. Sir Terry has led the chain for 14 years, overseeing its rise to become the UK’s leading supermarket group and will be replaced by international and IT director Philip Clarke. The chief executive, who will be 55 when he [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 15, 2010 FINANCIAL TIMES RBS eyes £10bn debt buy-back as it plans balance sheet shake-up Royal Bank of Scotland is planning a vast balance sheet restructuring in an attempt to boost its capital strength and its standing with bond investors. The move could involve at least £10bn (€11bn) of the bank’s £28bn of debt being bought back [...]
Renowned City veteran Sir Mervyn Pedelty dies January 28, 2010 Sir Mervyn Pedelty, chairman of Friends Provident and a former chief executive of the Co-op’s financial arm, has died at the age of 61. After a long career in financial services, he passed away on Tuesday, after a long illness, just 10 days after his birthday. The former TSB executive was also an independent director [...]
Morrisons in bid to expand March 11, 2010 SUPERMARKET chain WM Morrison yesterday pledged to open more smaller stores after new openings last year helped it to record a 30 per cent rise in full-year pre-tax profit. In 2009, pre-tax profits surged to £858m as turnover rose by six per cent to £15.4bn. The company, Britain’s fourth largest supermarket, raised its annual dividend [...]
Shopping around is the future of law June 1, 2010 COMMENTATORS talk excitedly about “Tesco Law” and the ongoing liberalisation of legal services as though it were a latter day gold rush led by big name supermarkets and banks. But what is it that consumers want? New research suggests that there is little enthusiasm on the part of the public to associate legal services with [...]