News Tag: risk
March 7, 2010
Leading business group, the British Chamber of Commerce (BCC), has warned that the UK economy faces a “high risk of a relapse“.
The UK economy emerged from recession in the fourth quarter of 2009 by experiencing growth of just 0.3%.
However, all economists and reports have suggested that the recovery will be fragile, while others have expressed concern for a double-dip recession (whereby ...
Threat of ‘double dip’ recession remains
by Kay Murchie
February 3, 2010
A report by the Institute for Fiscal Studies (IFS) has said the Government needs to be ambitious in tackling the public finances but warned that economic recovery should not be put at "undue risk".
The Institute believes an extra £13 billion in tax hikes or spending cuts is required by 2015-16 in order to repair ...
IFS issues caution to Government in its quest to repair public finances
by Kay Murchie
January 19, 2010
After months of hostile talks, British confectioner Cadbury has finally agreed to an £11.7 billion takeover by US food giant Kraft.
The 186-year-old British company, renowned for Dairy Milk chocolate, is set to advise shareholders to accept the latest bid of 840p a share.
Kraft, which is renowned for brands such as Kenco coffee and Oreo biscuits, will pay 840p for each Cadbury ...
Cadbury agrees £11.7bn Kraft takeover
by Kay Murchie
December 2, 2009
Norwich & Peterborough (N&P), which is Britain’s tenth largest society, is to close 10 of its branches, putting more than 50 jobs at risk.
The branch closures represent one fifth of its 54-strong network and the news comes just a day after it emerged that Chelsea and Yorkshire Building Societies were in merger talks.
N&P said it can't compete ...
Branch closures expected at Norwich & Peterborough Building Society
by Kay Murchie
November 26, 2009
Bookshop chain Borders UK has been placed into administration, according to Reuters.
The move is not unexpected after it was reported earlier this week that the 45-store book retailer does not have sufficient cash to see it through to Christmas as it has suffered amid increased competition from supermarkets and online retailers, such as Amazon.
The company’s website has not been taking orders ...
Borders UK placed into administration
by Kay Murchie
October 28, 2009
Thousands of jobs are at risk at Threshers and Wine Rack after a source close to the company revealed to The Times that administration could not be ruled out as the group struggles amid the economic downturn.
The off-licence’s owner, First Quench Retailing, has confirmed it is looking at "restructuring options" after warning earlier this year of its ability to continue as a ...
Threshers Off-Licence jobs at risk
by Kay Murchie
October 21, 2009
Bank of England Governor, Mervyn King, warned last night that a major rethink of how banks are structured is required.
Addressing Scottish business leaders in Edinburgh last night, Mr King’s comments came after it was announced that public finances suffered their worst six months on record between April and September.
In his speech, Mr King said that Government support for the ...
BoE Governor calls for banks to be split
by Kay Murchie
September 26, 2009
Homeowners renting a room to a lodger should inform their home insurance provider, the Association of British Insurers (ABI) said this week.
According to the ABI, homeowners who don't inform their insurance provider about taking on a lodger risk invalidating their policy.
"If you are applying for insurance and you are taking a lodger, or if you have got a lodger, you should disclose that ...
ABI issues lodger warning
by David Masters
September 22, 2009
It has been reported that around 1,100 Vauxhall jobs could go as a result of Canadian parts maker Magna's restructuring of Opel.
While full details have not yet emerged, there is speculation that the Luton plant will be worst hit but jobs will also go at Ellesmere Port. Vauxhall has around 5,500 workers at the two sites.
Opel has a European ...
Over 1,000 jobs at risk at Vauxhall
by Kay Murchie
September 15, 2009
A major restructure at US pharmaceutical giant, Eli Lilly, is set to put UK jobs at risk.
The company has announced details of a restructuring programme, which it described as the most significant in its history, will see global headcount reduced by 14% over the next two years.
The Indianapolis-based drugs company, which has a workforce of 40,500, is to axe ...
US pharmaceutical giant could axe jobs in UK
by Kay Murchie
September 3, 2009
Budget airline easyJet is to close its base at East Midlands airport and cut services at Luton Airport by a fifth with a view to transferring them to profitable bases in continental Europe.
Luton is one of easyJet's biggest bases and operates 16 aircraft and carries almost 5 million passengers each year.
Meanwhile, the low-cost airline said it would consult on ...
easyJet closures put jobs at risk
by Kay Murchie
September 2, 2009
Cattles, which has already axed 1,000 jobs this year, is proposing to cut a further 510 jobs at its Welcome Financial Services subsidiary.
The struggling sub-prime lender, which is battling to stay afloat, is seeking ways to slash costs and as leases on its premises expire, several Welcome Financial Services branches could close.
In a statement, the ...
Cattles review of Welcome Financial brand puts 500 jobs at risk
by Kay Murchie
August 31, 2009
Eurostat has revealed that the CPI in the euro zone declined in August by an annual rate of 0.2% and followed the record 0.7% fall in July.
Analysts were encouraged by the slower rate of decline in consumer prices and Nick Kounis of Fortis commented: "We think that the negative impact of energy prices is starting to unwind. This process has ...
Euro zone CPI falls in August
by Kay Murchie
August 20, 2009
Student households are more than twice as likely to be burgled compared to the average home, Confused.com has revealed.
The price comparison website released the figure as thousands of new students prepare for their first term at university.
Confused.com also said students shouldn't assume their possessions are covered on their parents' home insurance policy.
"Separate policies should be bought which reflect the amount of contents ...
Confused.com highlights student burglary risk
by David Masters
July 21, 2009
The Financial Services Authority (FSA) has warned UK financial institutions that guaranteeing bonuses for more than 12 months could mean they are breach of new rules and risk harsh penalties.
In a letter to the heads of British banks, chief executive, Hector Sants, said the regulator is determined to “to align remuneration policies, procedures and practices to ensure they are ...
Guaranteed bonuses will breach new codes warns FSA
by Kay Murchie
July 2, 2009
Virgin Atlantic is set to reduce its number of flights this winter which will put 600 jobs at risk.
The airline, founded by Sir Richard Branson, announced that it was not operating its Heathrow-Chicago daily service for the winter 2009/10 season and is suspending one of its two daily services between Heathrow and Hong Kong.
The airline said it ...
Jobs at risk as Virgin Atlantic cuts back services
by Kay Murchie
June 28, 2009
The Government has announced details of the first round of grants under the £5 million Flood Protection Scheme, which is aimed at helping homeowners reduce the risk of flood damage.
Twenty five local authorities in England can call on an initial £3 million under the scheme and 593 properties should benefit.
The money is to be spent on practical flood protection solutions, including ...
Flood Protection Scheme grants now available
by Gill Montia
June 26, 2009
There are fears that the world’s second largest economy could be heading for deflation after figures from the Ministry of Finance revealed that Japan's core consumer price index (CPI) fell 1.1% in May compared with the same month last year - the most since records began almost forty years ago.
The country’s Finance Minister, Kaoru Yosano, said: "We must carefully manage the economy ...
Japanese inflation suffers heavy fall
by Kay Murchie
June 18, 2009
Mervyn King, the Governor of the Bank of England, is calling for major regulatory reform, but Chancellor Alistair Darling said there are no plans to change the current financial regulatory system.
The news comes as US President Barack Obama is proposing a major reform of banking regulation in order to prevent future meltdowns of the US banking system.
Mr Obama ...
BoE Governor presses Chancellor for major financial regulatory reform
by Kay Murchie
June 7, 2009
Following the collapse of the Dunfermline building society and the rescue of other societies last year, the Financial Services Authority (FSA) is proposing to stop building societies expanding into risky types of lending and borrowing.
The move comes after a senior FSA official accused some societies of taking far too many risks with their lending in the last ...
FSA proposes new risk strategy for UK’s building societies
by Kay Murchie
