Retailers sound alarm bells after one of toughest Christmas periods on record January 13, 2016 UK retailers have suffered one of their worst Christmas trading periods on record, according to new research showing a surge in the number of companies struggling to make ends meet. Turnaround specialist Begbies Traynor said 26,013 UK retailers entered the year in significant financial distress – nearly double the amount recorded in the fourth quarter [...]
Court told General Motors hid ignition switch defect that led to recall of millions of vehicles January 12, 2016 General Motors should be made to pay for hiding a defect with ignition switches that has been linked to nearly 400 injuries and deaths, a lawyer told a New York jury today. "This case is not just about an accident that occurred in Oklahoma in 2014," said Robert Hilliard, who is representing Robert Scheuer, an Oklahoma man injured [...]
Tensions brew over Yorkshire bridge as Samuel Smiths bars government plans for temporary crossing January 12, 2016 A fight has broken out over government plans to put in place a temporary footbridge to replace a flood-hit crossing in Yorkshire. Land owner Samuel Smiths Brewery has blocked plans to put a temporary bridge over the River Wharfe in Tadcaster and criticised the local authority for not maintain the old listed bridge. "In our opinion the [...]
Shareholders expect banking giant HSBC to keep its headquarters in London January 12, 2016 Major investors in HSBC think the bank is more likely to remain headquartered in London following changes to the political and regulatory landscape since the bank announced a review nine months ago. Richard Buxton, chief executive of HSBC shareholder Old Mutual Global Investors, told City PM: “I do think the mood music changed materially after the [...]
Shares jump as The Gym Group reaches 2015 finishing line in good shape January 12, 2016 The Gym Group has worked up a good sweat since its market debut in November after an upbeat trading update released today by the budget fitness chain sent shares soaring nearly four per cent. The company, which operates 74 low cost gyms, said profits for 2015 are on track to meet market expectations after winning [...]
Alphabet/Google share price target raised to $900 by Credit Suisse citing YouTube Red subscriber revenue January 12, 2016 Credit Suisse has lifted its price target for Google – now known as Alphabet – to $900 per share citing YouTube Red revenue as the catalyst. The adjustment of subscriber number projections to the ad-free subscription service which launched in October with a $9.99 per month price tag spurred the increase from $850 per share, remaining outperform. "While the initial [...]
Bloopers, jargon and cliches: The grammar and language errors businesses should avoid January 12, 2016 When you proofread for a living, as I do, you notice linguistic and grammatical faux pas instinctively. However, we are all influenced by the language in our lives more than we think. From fellow commuters on the train reading a newspaper, book, or smartphone, to you sitting at your desk reading emails, language is all [...]
Architect Sir Terry Farrell and Labour councillors hit out at plans for Irvine Sellar’s Paddington Shard January 12, 2016 Farrell called it "too piecemeal and too optimistic" (Source: Sellar Property Group) A storm is brewing over Irvine Sellar’s plans to build a so-called second Shard in Paddington. Westminster Labour councillors have urged the council to reject the planning application submitted in November, saying the that proposals have been “rushed” and miss out crucial information such [...]
Direct Line Insurance Group share price rises as it reveals its estimated costs of the storms of up to £140m, while PwC predicts a mixed bag for premiums this year January 12, 2016 Direct Line Insurance Group today revealed that it estimated that this winter’s floods would cost it between £110m and £140m in claims across both its home and commercial divisions. The company stressed that these figures were estimates only and that an actual amount for insured losses could not be given with certainty for some while. After [...]
Deutsche Bank buys new FCA headquarters at Stratford’s International Quarter for £370m January 12, 2016 Deutsche Bank has snapped up an office development in Stratford that will house the new Financial Conduct Authority (FCA) headquarters, in a £370m deal. The German bank's asset management arm has agreed to forward fund the 515,000 sq ft building, which forms part of a major £2.3bn development next to the Queen Elizabeth Olympic Park known as the International Quarter. The [...]
