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The UK university applicant number has fallen by 8.7 per cent – although school leavers have not been put off by the tuition fees tripling, with the sharper decline being among the more affluent candidates in comparison with those from less privileged backgrounds, show official figures. The controversial decision to allow universities to increase undergraduate [...]
(Read More)30th Jan 12
Olympic Games will hit energy and transport plans
by Harry Oldfield
Companies have had to put investment plans on the backburner as the Olympics approach, the Bank of England has reported. The Olympics are set to disrupt key industry, transport and energy projects for as long as six months as construction companies are made to down tools and large equipmentcan’t be transported around England by road. [...]
(Read More)27th Jan 12
UK heading for double-dip recession
by Harry Oldfield
Britain is on course for its first double-dip recession since 1975 after the economy contracted in the last quarter of 2011 and analysts warned of a renewed threat to employment. The country shrank by 0.2 per cent during the three months to December, more than the 0.1 per cent which was expected, revealed Office for [...]
(Read More)26th Jan 12
Apple delivers record profits
by Harry Oldfield
Technology giant Apple reported record quarterly results and smashed market forecasts by selling 37 million iPhones globally in the final three months of last year – a performance which investors dubbed “just unimaginable”. Year-on-year first-quarter profits more than doubled to $13.1bn (£8.4bn), resulting in the firm’s share price going up by as much as 12 [...]
(Read More)25th Jan 12
Harry Redknapp ‘kept offshore account secret’
by Harry Oldfield
Harry Redknapp did not inform his bank or his accountant about an offshore account for years, heard jurors. He is accused of accepting secret payments from Milan Mandaric, the former chairman of Portsmouth, while he was manager of the south coast team. The Tottenham Hotspur boss only admitted to having the Monaco-based account when asked [...]
(Read More)24th Jan 12
Tesco tailors promotions to suit area affluence
by Harry Oldfield
Tesco is set to tailor its price deals and ranges in accordance with the wealth of people who live close to its stores. The new initiative will see consumers in poorer areas encouraged to buy Tesco Value goods through various promotions, while people residing in more affluent areas of the UK will be offered more [...]
(Read More)23rd Jan 12
More than 370,000 migrants on benefits
by Harry Oldfield
Work-related benefits last year were being claimed by over 370,000 migrants who initially came to Britain to work, visit or study, found recent research. The government matched border control, tax and benefit records from 2011. Studying a sample of 9,000 claimants of particular nationalities, they discovered that 2,000 were claiming benefits illegally. Employment Minister Chris [...]
(Read More)20th Jan 12
Peacocks collapses after failed last minute rescue bid
by Harry Oldfield
High street retailer Peacocks fell into administration amid bitter recriminations after a rescue bid in excess of £50m was rejected by lenders. Peacocks will become the country’s biggest administration since Woolworths, with 9,600 jobs being lost – after a depressing number of company failures during recent weeks. Talks over a last-minute rescue deal, fronted by [...]
(Read More)19th Jan 12
Wetherspoons cautious despite Christmas joy
by Harry Oldfield
An improved sales performance offered some Christmas relief for pub group JD Wetherspoon, although its chairman has warned that its expansion plans could be scaled back due to more tax increases. The chain, which runs around 850 pubs, remains on track to hit its target of opening 50 new sites over the year ending July, [...]
(Read More)18th Jan 12
Scottish power reduces gas prices
by Harry Oldfield
Scottish Power has announced reductions in its tariffs and in doing so becomes the last of the UK’s big six energy suppliers to cut prices. The company said that approximately 1.4 million gas customers would receive reduced domestic gas bills from February, with prices set to drop by five per cent on average. This was [...]
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