The National Association of Pension funds (NAPF) and the Pension Protection Fund (PPF) have signed a memorandum of understanding with the government that will make it easier for pension funds to invest directly in UK infrastructure projects. The memorandum is a move by the government to interest pension funds in helping pay to build needed [...]
Emergency home repair insurer Homeserve (LSE: HSV) seems to be recovering after suspending outgoing sales calls recently after an investigation over misselling policies, even though the company’s shares dropped around 53 percent of their value after the investigation was announced. The investigation came after allegations that the insurer was not clearly and adequately disclosing pricing [...]
Homeserve, which sells insurance on home emergency repairs, saw shares drop by almost a third of their value Monday after it was accused of misselling policies to customers over the phone and closed down sales on Friday. The loss amounted to 27 percent, or £500 million of its value, on the session for the firm [...]
A proposal by the Department for Culture, Media and Sport could allow the UK government to tax gambling operators based outside the country. The Department’s plan, which will regulate gambling at the point of consumption rather than based on where the operation is based, would require all gambling operators that sell to UK consumers to [...]
Shares in UK media giant British Sky Broadcasting (LSE: BSY) were lower Friday after regulator Ofcom asked that it be kept up to date on information surrounding a scandal involving possible phone-hacking by News of the World, which is owned by News Corp (NAS: NWS), the company that is asking to buy all of the [...]
Retailer John Lewis reported today that sales were up 20 percent overall last week, with every single store making more money in the week than it did in the same period last year. It was good news in a sector that saw several store chains go into administration or announce major store closures during the [...]
It seems that even a low mood over economic hard times can serve to help lift the economy, at least according to department store chain Debenhams (LSE: DEB). Debenhams, Britain’s number two department store chain, has reported that its sales have been helped by what its deputy chief executive, Michael Sharp, calls the “lipstick effect”, [...]
Wolfson Microelectronics (LSE: WLF) saw its shares lose more than a quarter of their value on Monday and continued declines on Tuesday after it said sales were down more than expected in the quarter ending this month. Shares dropped by 26 percent on Monday, making it the worst performer of the day on the FTSE [...]
A new report from the Office of National Statistics shows that the UK’s gross domestic product was up by just 0.5 percent in the first quarter of the year as household spending dropped 0.6 percent in the period and business investment was down by 7.1 percent from the previous quarter. With the GDP down 0.5 [...]
A new report from consumer advocates Which? said that big banks and building societies could be putting their customers at risk by not protecting the customer’s personal information carefully enough. The report said that 8 banks had 515 complaints lodged against them with the Information Commissioner’s Office (ICO) in 2009, the most recent period for [...]
