Stobart Group shares skid after haulage firm warns on profits January 17, 2013 STOBART Group’s shares fell by almost three per cent yesterday after the FTSE 250-listed lorry firm warned it would fall short of profit forecasts and announced the closure of its chilled business. The firm said its operating performance for the year will be slightly below market expectations, due to slower than hoped progress on its [...]
An operatic reminder of how the internet disrupts our world for the better January 17, 2013 IT HAS been a week of crushing victories for the internet. It continues to claim victims among retail firms blindsided by the web’s 24/7 stores, with their limitless inventories and weightless products. With thousands of jobs on the line, and hundreds of shops at risk of closure, it would be easy to see the change [...]
What the other papers say this morning January 14, 2013 FINANCIAL TIMES Junk-bond prices point to bulls return The junk-bond market is sending a bullish signal for the global economy in 2013, with investors in US high-yield securities earning higher returns so far this year than those who have bought investment-grade debt. High-yield bonds are an acute barometer of risk appetite and rises in their [...]
Pensioners’ fuel bills more than double as energy price climbs January 10, 2013 OVER 65s were last year faced with energy bills more than double those they paid in 2005, according to data out this morning. The average weekly fuel bill for families of people aged 65 and older was £26.08 in 2012, Saga said, up from £12.87 in 2005 – an increase of 102.6 per cent. This [...]
Banking and mining shares drive FTSE to highest level since May ‘08 January 9, 2013 BRITAIN’S blue-chip stocks hit their highest level since May 2008 yesterday, with gains led by banking stocks and miners after a reassuring start to the US earnings season boosted demand for riskier assets. The FTSE 100 broke through a near two-year high at 6,105.77 in afternoon trade, following a strong opening on Wall Street, peaking [...]
Rapid responses January 8, 2013 Planning inflation [Re: Daft planning rules are pushing up the price of food in shops, yesterday] While it is always good for an article about planning policy to focus on commercial property rather than housing, and while the academics cited may have delivered interesting papers, let’s not use this work to justify more fiddling with [...]
Tough new funding rules next target on finance lobby hit list January 7, 2013 BANKS will spend the coming years pushing regulators to scrap incoming rules which will force them to match long term lending with long term funding, emboldened by their success in getting liquidity rules weakened, City A.M. has learned. The British Bankers’ Association spent several years arguing the Liquidity Coverage Ratio would force banks to reduce [...]
Green light for shale: Now Britain will benefit from the dash for gas December 13, 2012 FORGET the Energy Bill; the announcement that exploration for shale gas can now resume is the big energy story of 2012. In Lancashire alone, there is enough shale gas in the ground to meet Britain’s needs for decades. But the big question is what proportion can be developed at a reasonable cost. Yesterday’s decision means [...]
E.ON follows rival utilities to hike prices December 10, 2012 ENERGY provider E.ON has become the last of the “big six” energy firms to raise its prices, announcing yesterday that tariffs will increase from 18 January. E.ON, which is writing to each affected customer, said that the average dual fuel bill will increase by 8.7 per cent, while the average electricity-only and gas-only bill will [...]
Our at-a-glance guide to Osborne’s mini-Budget December 5, 2012 THE UK ECONOMIC OUTLOOK ■ The Office for Budget Responsibility (OBR) has revised down its forecast for UK growth and revised up its forecast for public sector borrowing. It says the government is no longer likely to meet its target of reducing debt as a proportion of GDP in 2015-16, breaking its supplementary fiscal rule. [...]