News Tag: struggling
March 1, 2011
Music, books, DVDs and games retailer, HMV, has watched its shares plummet 20% today after the firm issued another profits warning.
It also revealed it would currently fail to meet the conditions of its loan agreements in April.
The retailer, which also owns Waterstone’s bookshops, in January said it was struggling to meet the terms of its lending agreements.
The company continues to ...
HMV Group issues further profits warning
by Kay Murchie
January 5, 2011
Music, books, DVDs and games retailer, HMV, has today said it is planning to close 60 stores over the next year.
The announcement came after it revealed sales were hit by the recent heavy snowfall. The chain also continues to struggle amid tough competition from supermarkets and internet companies, such as Amazon.
Shares in the retailer, which also owns ...
HMV to close 60 stores over the next 12 months
by Kay Murchie
December 2, 2010
First-time buyers (FTBs) are still struggling to get a foot on the ladder, despite a steep rise in the number of mortgage products available.
Mortgage deals for those with a small deposit has doubled, according to Moneyfacts.co.uk, with more than 1,000 mortgages on the market for those with a 20% deposit or less.
However, while those with lower deposits have seen an ...
Mortgage products increase but FTBs still struggling
by Kay Murchie
November 11, 2010
The Council of Mortgage Lenders (CML) has today reported a further fall in repossessions - the fourth consecutive quarter in which they have fallen.
According to the Council, lenders seized 8,900 properties in the July to September period - representing a fall of 5% compared with the second quarter.
Experts argued, though, that many homeowners have been saved from repossession, due to ...
CML reports further fall in repossessions
by Kay Murchie
Survey reveals rise in mortgage struggles
by Kay Murchie
February 25, 2010
Operating profits at British Gas soared by 58% last year to £595 million, compared with £379 million in 2008.
Its parent company Centrica said the figures beat the previous high of £573 million in 2007.
While British Gas announced earlier this month it was reducing its gas prices by 7%, the results will no doubt anger consumers who have been hit by ...
British Gas profits surge record 58%
by Kay Murchie
January 11, 2010
Troubled Japan Airlines (JAL) is expected to enter bankruptcy proceedings within the next couple of days, according to reports.
It is believed the state-owned Development Bank of Japan has already agreed to the bankruptcy.
The airline, which is Asia’s largest carrier, is grappling with a mountain of debt and it is currently under the watchful eye of the state-backed turnaround body (the Enterprise Turnaround ...
Bankruptcy looming for Japan Airlines
by Kay Murchie
November 24, 2009
Struggling Japan Airlines (JAL) yesterday saw its shares close at a record low of 87 yen on the Tokyo Stock Exchange after it emerged that Mitsui & Co broking house had sold all its shares in the carrier.
A spokesperson for Mitsui & Co said it had sold all of its 11.7 million shares between the April and September period.
The ...
Japan Airlines shares fall to record low
by Kay Murchie
November 23, 2009
WHSmith has abandoned talks with bookshop chain Borders, which is set to see Borders UK enter administration unless a sale is imminent.
Borders is understood to 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.
As a result, the chain has been in talks with ...
WHSmith walks away from Borders deal
by Kay Murchie
November 16, 2009
Business group, the British Chambers of Commerce (BCC), is claiming that small and medium-sized firms are still struggling to access finance.
The report comes despite the £200 billion injected into the UK financial system to boost lending.
According to the BCC, one third (33%) of companies surveyed said that accessing finance had been more difficult over the last three months ...
BCC survey claims firms still ‘struggling to get finance’
by Kay Murchie
November 10, 2009
As part of its ongoing global cost-cutting programme, Swedish telecoms equipment maker Ericsson is to eliminate 700 jobs from its research and development operation in Coventry.
The cuts will be made by the middle of next year and the company said after that time, the facility would no longer be viable.
Ericsson has been in Coventry for four years since it acquired ...
Ericsson to cut 17% of UK workforce
by Kay Murchie
October 21, 2009
The Citizens Advice Bureau (CAB) said there is a growing increase in the number of consumers struggling with fuel debts.
During April to September 2009, the CAB in England and Wales reported a 46% increase in the number of clients with fuel debts compared to the same period a year ago.
David Harker, chief executive of CAB, said: "We are already seeing large ...
CAB sees increase in fuel debts
by Kay Murchie
August 3, 2009
Research from the Local Data Company (LDC) has revealed the tough times retailers have experienced during the economic downturn.
The economic downturn has meant consumers have tightened their purse strings, having a devastating affect on trade.
The iconic department store, Woolworths, collapsed under a mountain of debt at the end of last year, while other big names that went bust included furniture ...
LDC report reveals woes for retailers
by Kay Murchie
July 17, 2009
Jobs are at risk after Allied Carpets has gone into administration as the property market crash and economic downturn has meant fewer people are buying carpets and flooring.
Last month, rival Carpetright announced a 72% slump in profits after sales fell 7.4% compared with a year ago.
Meanwhile, BDO Stoy Hayward, which has been appointed as administrator to Allied Carpets, said 400 jobs ...
Struggling Allied Carpets enters administration
by Kay Murchie
July 15, 2009
Struggling car maker Jaguar Land Rover is to reduce its workforce at its Halewood factory in Merseyside as the company plans to cease production of its X-Type model.
The global economic downturn has resulted in a slump in demand for big-ticket items, such as cars. This has affected carmakers worldwide with many cutting back on production, slashing jobs ...
Jaguar Land Rover to axe 300 jobs at Merseyside plant
by Kay Murchie
July 5, 2009
According to The Mail on Sunday, Newcastle Building Society is in advanced talks with Skipton Building Society, which will see further consolidation within the sector.
Newcastle BS, which is the country’s 10th biggest building society, has been struggling after a poor performance in 2008 when it reported losses of £35 million as a result of exposure to the failed Icelandic ...
Newcastle Building Society in advanced talks with Skipton
by Kay Murchie
February 23, 2009
According to the Wall Street Journal, the US Government is in talks with Citigroup to increase its stake in the struggling bank.
Shares in Citigroup plummeted for a sixth consecutive session last Friday amid speculation that it would have to be nationalised in order to survive.
It is believed that the Government could end up owning up to 40% in ...
US Government may increase stake in troubled Citigroup
by Kay Murchie
January 27, 2009
Business Secretary, Lord Mandelson, will this afternoon unveil plans to help the struggling car industry since the economic downturn has meant that car sales have plummeted in recent times.
However, No. 10 have said that the support is ‘not a bailout’ but is expected to include measures such as guarantees for loans to the industry to assist with short-term finance ...
Mandelson to reveal plans to boost car industry
by Kay Murchie
December 15, 2008
According to the Bank of England’s latest quarterly bulletin, British households are struggling as a result of higher food and utility costs and falling house prices.
The report found that disposable income plunged this year for 71% of British households, while the number of people struggling to pay their mortgage or rent is at its highest level since 1995.
The survey, ...
BoE report reveals Britons struggling with debt
by Kay Murchie