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The Tesco executive who caused controversy by selling 50,000 shares in the retailer just days before it issued its first profit warning in over two decades has been removed from his old role. The UK chief operating officer Noel ‘Bob’ Robbins’ decision to sell the shares broke no stock market laws but came as a [...]
(Read More)31st Jan 12
Gary Speed talked of suicide before death
by Natasha Redman
Gary Speed, the former football manager of Wales, texted his wife just days before he was found dead and talked about taking his own life, heard an inquest. The 42-year-old, who played for Leeds, Everton, Newcastle, Bolton and Sheffield United, was found hanged by his wife Louise at their home in Cheshire on 27 November [...]
(Read More)30th Jan 12
New house buyers drop by 10.5 per cent
by Natasha Redman
There has been no respite for the struggling property market as the amount of new buyers fell by over 10 per cent in January compared with the previous month. Property analytics firm Hometrack’s latest monthly survey revealed that the amount of new buyers who registered with estate agents dropped by 10.5 per cent in January, on [...]
(Read More)27th Jan 12
Police officer numbers drop to ten-year low
by Natasha Redman
The number of police officers in England and Wales has dropped to its lowest level for 10 years, show official figures. In September 2011 there were 135,838 officers – 6,012 less than a year earlier, when there were 141,850. Out of the 43 forces only one, Surrey Police, increased the number of police officers during [...]
(Read More)26th Jan 12
Yahoo! chief vows to improve as profit drops
by Natasha Redman
Scott Thompson, the new chief executive of Yahoo!, attempted to manage expectations upon announcing his first set of figures, as the firm’s profit and sales dipped slightly during the fourth quarter. The chief executive broadly addressed the many issues which the internet company is dealing with – from the possibility of selling it to reviving [...]
(Read More)25th Jan 12
Sumatran elephant now critically endangered
by Natasha Redman
The Sumatran elephant is now listed as a critically endangered species after half of its population was lost in a single generation, triggering conservation groups to call for emergency measures in order to prevent its habitat from being destroyed. Deforestation is viewed as the main reason for the fall in numbers across Indonesia, which until [...]
(Read More)24th Jan 12
Suppliers deal boosts HMV
by Natasha Redman
The future of embattled entertainment retailer HMV is looking slightly more secure after suppliers came to its recue. HMV, which owns roughly 250 stores in Britain, said that it had signed improved terms with key suppliers – including Universal Music – in a move that will ultimately help it reduce about half of its £180m [...]
(Read More)20th Jan 12
Kodak files for bankruptcy
by Natasha Redman
Eastman Kodak, the inventor of the hand-held camera, has filed for bankruptcy protection in a bid to survive. The move gives the firm time to reorganise without having to face its creditors. The company confirmed that business would carry on as normal for customers. Kodak has moved away from cameras recently to refocus on producing [...]
(Read More)19th Jan 12
Direct Line and Churchill fined 2.1m by FSA
by Natasha Redman
Churchill and Direct Line, the insurance arm of the Royal Bank of Scotland (RBS), have been handed a fine of £2.1m by the Financial Services Authority (FSA) for breaching regulations on handling complaints by customers. The fine could have been £1m higher if it hadn’t been for the fact that the RBS had co-operated with [...]
(Read More)18th Jan 12
Ebooks help Dixons see the positive side
by Natasha Redman
The electrical retailer Dixons has published better than expected trading for the Christmas period and said that it was confident it would be able to repay a £160m make-or-break bond later this year. Dixons retail’s chief executive John Browett said that the chain’s finances had been boosted by the huge demand for ebook readers and [...]
(Read More)