Nats Swanwick system failure: Air traffic chaos caused by too little investment, says Cable Business secretary Vince Cable has accused the UK’s National Air Traffic Service (Nats) of “skimping on large-scale investment” after an IT glitch led to widespread disruption across UK airports. The Lib Dem politician told BBC’s Andrew Marr Show: “In agencies like Nats, as in the banks in the private sector, they’ve been skimping on large-scale [...]
Success of tech hubs sparks ICT firm dash for investment funds The success of UK tech hubs such as Silicon Roundabout has driven a 26 per cent rise in ICT (Information Communication and Technology) companies seeking to raise funds to fuel their growth through the Enterprise Investment Scheme (EIS). The EIS, a government initiative, is designed to encourage private investment in small companies through generous tax [...]
Intercontinental Exchange exits stake in Euronext with share sale INTERCONTINENTAL Exchange (ICE) yesterday announced it was selling its final stake in Euronext, pricing the placement of 4.2m shares. The shares, representing approximately six per cent of Euronext’s share capital, are to be sold by way of an accelerated book-building to institutional investors, at a price of €23 each. ICE said it expected the gross [...]
Mobile financial services firm eServGlobal promotes executive December 8, 2014 ESERVGLOBAL, which provides mobile financial services to emerging markets, has promoted its finance chief Stephen Blundell to the role of chief operating officer. Blundell, who has served as chief financial officer for the firm since 2009, will be responsible for eServGlobal’s day-to-day operations, including revenue delivery, product development and sales. In his new role, he [...]
Retail watchdog for consumers’ shop complaints December 7, 2014 A RETAIL watchdog has been set up to resolve consumer complaints between shops and customers. The Retail Ombudsman is aimed at helping consumers if they have made a complaint to a company and the issue is not resolved. Barrister Dean Dunham, who starts work as ombudsman on 1 January, said the service will aid shoppers [...]
Tobacco firms may pay through the nose for harm from smoking December 3, 2014 THE TOBACCO industry may be forced to pay millions of pounds more in tax if the government backs a new levy on manufacturers and importers. Chancellor George Osborne yesterday said the government will consult on how tobacco firms could repay the “costs on society” that smoking brings. “Smoking imposes costs on society, and the government [...]
London wine map shows river of red flowing along the Central Line November 23, 2014 A wine map of London, revealing drinkers’ favourite tipple, shows a “river of red wine” flowing along London’s Central Line, according to Naked Wines. The customer-funded wine company, which invests in independent winemakers, polled 2,000 Londoners to find the favoured wines in the capital’s boroughs. The map showed an overwhelming preference for [...]
Marks & Spencer poaches John Lewis finance chief Helen Weir November 17, 2014 MARKS & Spencer has poached Helen Weir from John Lewis to become its news finance director. Weir will succeed Alan Stewart, who quit M&S in July to join Tesco, and was fast-tracked into the job in September, when Tesco discovered a black hole in its accounts. Weir has been CFO at John Lewis since 2012 [...]
Senior Tories call for Juncker investigation November 17, 2014 EUROPEAN Commission President Jean-Claude Juncker should be investigated over claims he encouraged tax avoidance, say senior Conservatives. Juncker came under pressure at the G20 summit in Australia over allegations he encouraged companies to take advantage of Luxembourg’s low tax rates, while he was finance minister and later prime minister. Both Work and Pensions secretary Iain [...]
Joseph Rowntree Foundation predicts lack of housing will leave more renters in poverty November 16, 2014 Soaring rent rises will leave nearly 6m private renters in poverty by 2040, according to the Joseph Rowntree Foundation (JRF). The independent charity predicts that, without intervention, rents will rise twice as fast as incomes, increasing from an average private rent of £132 a week now to £250 a week in 2040 in real terms. [...]
