News Tag: industry
March 18, 2010
Figures published today by the Society of Motor Manufacturers and Traders (SMMT) revealed a sharp rise in UK car production for the month of February.
Car production surged 62.7% against the same month a year ago and represents the fourth consecutive month that output has seen a year-on-year increase.
The SMMT said there 97,255 cars were produced in February – the majority of ...
UK car production jumps in February
by Kay Murchie
March 15, 2010
The Government-led crackdown on credit card companies is expected to save consumers around £300 million a year.
The crackdown comes after the Government warned credit and store card firms to “clean up their act” after it launched a review of the industry in a consumer White Paper in July 2009.
According to Prime Minister, Gordon Brown, the cost of borrowing ...
Consumers to save millions under new credit card protection
by Kay Murchie
March 11, 2010
According to the International Air Transport Association (IATA), the global airline industry is improving, with both passenger and freight numbers expected to grow this year.
In January, the industry body said 2009 saw the biggest decline in air passenger traffic since the aftermath of World War II.
The global economic downturn had a devastating impact on the airline industry, which led to a slump ...
“Blue skies ahead”, say IATA
by Kay Murchie
February 18, 2010
Figures published today by the Society of Motor Manufacturers and Traders (SMMT) revealed a strong rise in UK car production for the month of January.
Car production surged 64.8% against the same month a year ago - this represents the biggest year-on-year increase in monthly production since May 1976, according to the SMMT.
The SMMT said there were 101,190 cars made in ...
UK car production up 65% on year
by Kay Murchie
January 27, 2010
The airline industry has been hit hard during the global economic downturn, which has led to a slump in demand for air travel with fewer people travelling.
Many airlines went bust during the downturn, not just due to a fall in demand but also as a result of higher fuel prices.
According to the International Air Transport Association (IATA), 2009 saw the biggest ...
Airline industry suffers worst ever year
by Kay Murchie
January 15, 2010
There were hopes that the personal computer market is staging a recovery after chipmaker Intel said net income in the three months to 26 December was £1.4 billion - surging ahead of the £143 million reported a year earlier.
Furthermore, the company, which is based in Santa Clara, California, exceeded analysts' expectations after sales soared 29% to £6.5 ...
Hopes for PC market recovery as Intel Q4 profits surge
by Kay Murchie
January 8, 2010
Sir Richard Branson’s Virgin Money has announced it is to buy regional bank Church House Trust for £12.3 million and will invest £37.3 million into the business.
Virgin Money, which was unsuccessful in acquiring crisis-torn Northern Rock two years ago, already offers savings, credit card and investment products to around 2.5 million customers.
The purchase comes at a time ...
Virgin Money buys regional bank Church House Trust
by Kay Murchie
January 4, 2010
Swiss pharmaceuticals group, Novartis International, has started the New Year on a high with one of Europe’s largest ever takeovers.
Novartis has agreed to take full control of Alcon, a leading maker of eye care products, in a deal worth $40 billion (£24.8 billion).
Novartis bought 25% of eye care specialist Alcon, which is also the maker of Opti-Free contact lens cleaners, from ...
Novartis buys Alcon for $40bn
by Kay Murchie
August 27, 2009
The chairman of the Financial Services Authority is supporting a new tax on banks, aimed at curbing the bonus culture in the City.
In an interview with Prospect magazine, Lord Turner attacked the industry and said some of the City's activities had "swollen beyond its socially useful size" and was happy to consider taxing it.
Lord Turner comments: "If you want to ...
FSA chief supports tax to curb bonuses
by Kay Murchie
June 9, 2009
Lloyds Banking Group is announcing further job losses today with the closure of all its 160 UK Cheltenham & Gloucester (C&G) branches with the loss of 1,500 jobs.
Since April, Lloyds has axed almost 3,000 jobs which resulted in the Unite union accusing the banking giant of a embarking on a strategy of “death by a thousand cuts”. ...
1,500 jobs go as Cheltenham & Gloucester closes all branches
by Kay Murchie
April 24, 2009
Confused.com has welcomed Alistair Darling's cash for scrapped cars scheme, announced in this week's budget.
The price comparison site described the initiative - which pays motorists up to £2,000 for handing in their old car to update to a brand new model - as 'fantastic'.
It is hoped that in addition to giving a boost to the struggling car industry, 'cash for bangers' ...
Confused.com applauds ‘cash for bangers’ scheme
by David Masters
April 20, 2009
GlaxoSmithKline (GSK), Britain's largest drugs company, has agreed to buy Stiefel Laboratories in a deal worth $3.6 billion (£2.5 billion). GSK is paying $2.9 billion in cash and will take on $400 million of Stiefel’s net debt.
Stiefel, the US skincare specialist based in Florida, produces skin treatments for acne and psoriasis. The group is partly-owned by Blackstone Group, ...
GSK buys Stiefel to create enlarged dermatology business
by Kay Murchie
March 31, 2009
A trend of Australians not taking their full annual leave has worsened following the onset of the economic downturn and, as a result, has collectively accrued 123 million days leave which amounts to AUS$33 billion in wages.
The Tourism Minister, Martin Ferguson, has revealed that he is currently considering spending the $900 stimulus payment in order to encourage breaks.
The Tourism Australia ...
Australians have stockpiled 123 million days leave
by Peter Charalambous
March 10, 2009
Figures from the Office for National Statistics (ONS) have revealed manufacturing output in the UK fell for the eleventh consecutive month in January, and shrank at its fastest annual pace since January 1981.
According to the ONS, output fell 12.8% compared with a year ago as the downturn continues to have a devastating affect on the sector. ...
UK manufacturing output contracts at fastest annual pace since January 1981
by Kay Murchie
March 5, 2009
Figures released today by the Society of Motor Manufacturers and Traders (SMMT) have revealed further bad news for the UK car industry.
According to the organisation, new registrations fell 21.9% in February, compared with the same month last year.
The industry has been hit badly as the economic downturn has meant that consumers have cut back on big ticket items, particularly ...
SMMT reports 22% fall in UK car sales
by Kay Murchie
February 5, 2009
The Society of Motor Manufacturers and Traders (SMMT) have revealed that the number of new cars registered in the UK in January fell 30.9% year-on-year.
The continued fall highlights the fact that the economic downturn continues to have a major impact on new car sales.
According to the organisation, a total of 112,087 new cars were registered in the UK ...
SMMT: Car sales slump further in January
by Kay Murchie
January 27, 2009
This afternoon, Business Secretary, Lord Mandelson, unveiled a rescue package of £2.3 billion for the UK’s ailing car industry.
The package comes after months of pressure on the Government to take action after the Society of Motor Manufacturers and Traders (SMMT) warned that the industry was "battling" for its survival.
Many car manufacturers have been forced to place ...
Lord Mandelson unveils £2bn package for UK’s struggling car industry
by Kay Murchie
December 8, 2008
Estate agents that have so far survived the housing market downturn can look forward to a review of the market by the Office of Fair Trading (OFT), in 2009.
The watchdog has promised to take a comprehensive look at the sector and will be involving both consumer groups and industry bodies.
In a similar study completed in 2004, the OFT ...
OFT to check out competition among estate agents
by Gill Montia
October 1, 2008
Switzerland’s largest investment bank, UBS, has announced it is to axe a further 1,900 jobs in its investment banking, equities and fixed income units.
The news follows that yesterday from PricewaterhouseCoopers, administrators of Lehman Brothers’ European division, who said 750 workers are to lose their jobs with immediate effect.
With regard to the job losses at UBS, they represent ...
More jobs misery as UBS plans further 1,900 job losses
by Kay Murchie
