Link to the article Channel 4
One day after RBS chief executive Stephen Hester is awarded a £930,00 bonus, it emerges Sir Philip Hampton, the bank's chairman, is to turn down a share-based bonus worth £1.4m.
Saturday, 28 January 2012
Friday, 27 January 2012
Outrage at RBS boss's bonus payout
Link to the article Channel 4
Politicians and unions have criticised as "out of touch" the £963,000 bonus package awarded to Royal Bank of Scotland boss Stephen Hester.
The £963,000 worth of shares will be awarded to Hester on top of his £1.2m salary.
It is less than half the value of last year's all-shares bonus and comes after Prime Minister David Cameron made it clear that he considered a seven-figure sum would be unacceptable.
Politicians and unions have criticised as "out of touch" the £963,000 bonus package awarded to Royal Bank of Scotland boss Stephen Hester.
The £963,000 worth of shares will be awarded to Hester on top of his £1.2m salary.
It is less than half the value of last year's all-shares bonus and comes after Prime Minister David Cameron made it clear that he considered a seven-figure sum would be unacceptable.
Wednesday, 25 January 2012
Why is Britain's economy shrinking..?
Link to the article Channel 4
With the economy declining, George Osborne says the eurozone crisis is taking its toll on Britain. Is he right?
The Chancellor was speaking after official figures showed that the economy shrank by 0.2 per cent in the last three months of 2011 - a sign that we may be heading back into recession.
With the economy declining, George Osborne says the eurozone crisis is taking its toll on Britain. Is he right?
The Chancellor was speaking after official figures showed that the economy shrank by 0.2 per cent in the last three months of 2011 - a sign that we may be heading back into recession.
UK slump returns - UK growth decimated
Link to the article Channel 4
Britain probably is in the middle of a light recession now. We won’t know for sure until April. But today’s Q4 GDP number was doubly disappointing, if not, a great surprise. For a start it was a larger fall than expected, at -0.2%. It showed weak construction and production figures.
Britain probably is in the middle of a light recession now. We won’t know for sure until April. But today’s Q4 GDP number was doubly disappointing, if not, a great surprise. For a start it was a larger fall than expected, at -0.2%. It showed weak construction and production figures.
Recession fears as economy shrinks
Link to the article Channel 4
As official figures show that growth declined at the end of last year, Channel 4 News analyses what has happened to the British economy since the 2008-09 recession and what is in store.
As official figures show that growth declined at the end of last year, Channel 4 News analyses what has happened to the British economy since the 2008-09 recession and what is in store.
Tuesday, 24 January 2012
An extra shot with that..? Starbucks to sell booze
Link to the article Channel 4
The giant coffee chain is turning its baristas into bar staff by offering wine and beer in a selection of US stores. But do customers really want alcohol alongside their soy decaff latte?
It's already got more coffee permutations than digital places on Pi. Now, along with your Grande double shot decaff no foam soy latte with cinnamon atop - you can soon order a glass of Prosecco or a pint of beer at your local Starbucks.
The chain began offering alcoholic drinks in a handful of locations in its native Seattle back in 2010 as a test run: now it's rolling out the concept in parts of Southern California, followed by Atlanta and Chicago, in an effort to capture the 'Happy Hour' crowd.
The giant coffee chain is turning its baristas into bar staff by offering wine and beer in a selection of US stores. But do customers really want alcohol alongside their soy decaff latte?
It's already got more coffee permutations than digital places on Pi. Now, along with your Grande double shot decaff no foam soy latte with cinnamon atop - you can soon order a glass of Prosecco or a pint of beer at your local Starbucks.
The chain began offering alcoholic drinks in a handful of locations in its native Seattle back in 2010 as a test run: now it's rolling out the concept in parts of Southern California, followed by Atlanta and Chicago, in an effort to capture the 'Happy Hour' crowd.
Monday, 23 January 2012
Thursday, 19 January 2012
Kodak files for bankruptcy
Link to the article Channel 4
The 130-year-old company, which invented the hand-held camera, files for bankruptcy protection in the US after years of falling sales.
The pioneering Eastman Kodak Company, which brought the world the first pictures taken on the moon, has filed for bankruptcy in a bid to survive a financial crisis following its failure to develop new products in a changing photography market.
The 130-year-old company, which invented the hand-held camera, files for bankruptcy protection in the US after years of falling sales.
The pioneering Eastman Kodak Company, which brought the world the first pictures taken on the moon, has filed for bankruptcy in a bid to survive a financial crisis following its failure to develop new products in a changing photography market.
Wednesday, 18 January 2012
Goldman Sachs staff receive £8bn in pay and bonuses
Link to the article Channel 4
As Goldman Sachs reveals that staff earned £8bn in pay and bonuses in 2011, anti-capitalist protesters lose their court battle to occupy land outside St Paul's cathedral in London.
As Goldman Sachs reveals that staff earned £8bn in pay and bonuses in 2011, anti-capitalist protesters lose their court battle to occupy land outside St Paul's cathedral in London.
The unemployment figures are a disturbing trend
Link to the article Channel 4
Extrapolation of historical trends is a calamitous and disastrous folly under most circumstances, which I try to avoid. However I could not help but notice some disturbing trends in the unemployment data for Britain.
Extrapolation of historical trends is a calamitous and disastrous folly under most circumstances, which I try to avoid. However I could not help but notice some disturbing trends in the unemployment data for Britain.
Monday, 16 January 2012
Britain in recession - forecasters
Link to the article Channel 4
As economic forecasters warn that Britain is likely to be in recession, Chancellor George Osborne says the government is doing what it can to "weather the storm".
The Centre for Economics and Business Research (CEBR) and the Ernst & Young ITEM Club believe growth was negative in the last three months of 2011 and will continue to be in the first quarter of this year. A recession is two quarters of declining gross domestic product.
The independent Office for Budget Responsibility (OBR), whose forecasts are used by the government, believes Britain will avoid a recession, but experience three months of negative growth.
The CEBR says the economy is likely to have contracted by 0.9 per cent in the last quarter of 2011 and will contract by 0.1 per cent in the first three months of 2010. The ITEM Club expects contractions of 0.2 per cent and 0.15 per cent.
As economic forecasters warn that Britain is likely to be in recession, Chancellor George Osborne says the government is doing what it can to "weather the storm".
The Centre for Economics and Business Research (CEBR) and the Ernst & Young ITEM Club believe growth was negative in the last three months of 2011 and will continue to be in the first quarter of this year. A recession is two quarters of declining gross domestic product.
The independent Office for Budget Responsibility (OBR), whose forecasts are used by the government, believes Britain will avoid a recession, but experience three months of negative growth.
The CEBR says the economy is likely to have contracted by 0.9 per cent in the last quarter of 2011 and will contract by 0.1 per cent in the first three months of 2010. The ITEM Club expects contractions of 0.2 per cent and 0.15 per cent.
http://www.channel4.com/news/nick-clegg-calls-for-more-employee-ownership
Link to the article Channel 4
The deputy prime minister wants more companies to offer shares to their workers to improve productivity and growth, saying he hopes the measures will create what he calls a "John Lewis economy".
Mr Clegg thinks employee ownership will counter the "crony capitalism" that contributed to the 2007/8 financial crisis and tipped the country into recession.
The deputy prime minister wants more companies to offer shares to their workers to improve productivity and growth, saying he hopes the measures will create what he calls a "John Lewis economy".
Mr Clegg thinks employee ownership will counter the "crony capitalism" that contributed to the 2007/8 financial crisis and tipped the country into recession.
Could the John Lewis model benefit britain..?
Link to the article Channel 4
Nick Clegg says Britain should develop "more of a John Lewis economy". But what exactly is the deputy prime minister proposing? And could it work?
In a speech on the economy, the deputy prime minister said capitalism was not the problem, but a lack of employee share ownership was. "We need more individuals to have a real stake in their firms. More of a John Lewis economy, if you like."
Nick Clegg says Britain should develop "more of a John Lewis economy". But what exactly is the deputy prime minister proposing? And could it work?
In a speech on the economy, the deputy prime minister said capitalism was not the problem, but a lack of employee share ownership was. "We need more individuals to have a real stake in their firms. More of a John Lewis economy, if you like."
Thursday, 12 January 2012
Tesco disappointed by its Christmas trading
Link to the article Channel 4
It's the UK's biggest supermarket chain - but £4bn has been wiped of Tesco's market value, after it reported "dire" Christmas sales. So what's gone wrong? Sarah Smith takes a look.
The giant retail chain already has almost a third of Britain's market share - but it's just revealed a 'disappointing' 2.3 per cent in like for like sales over the festive period, enough to send its share price slumping by 15 per cent.
Tesco started a price war with its £500m price-cutting campaign at the end of September, but said the number of customers drawn in by its latest promotion had not been enough to offset the lower prices.
Chief executive Philip Clarke, who took over from Terry Leahy in March, admitted the company's £500m Big Price Drop strategy hadn't worked.
It's the UK's biggest supermarket chain - but £4bn has been wiped of Tesco's market value, after it reported "dire" Christmas sales. So what's gone wrong? Sarah Smith takes a look.
The giant retail chain already has almost a third of Britain's market share - but it's just revealed a 'disappointing' 2.3 per cent in like for like sales over the festive period, enough to send its share price slumping by 15 per cent.
Tesco started a price war with its £500m price-cutting campaign at the end of September, but said the number of customers drawn in by its latest promotion had not been enough to offset the lower prices.
Chief executive Philip Clarke, who took over from Terry Leahy in March, admitted the company's £500m Big Price Drop strategy hadn't worked.
Wednesday, 11 January 2012
Little Chef to slim down and axe 600 jobs
Link to the article Channel 4
The motorway service station chain Little Chef is shutting 67 outlets and axeing almost a third of its workforce. But Greggs the bakers are raising a toast, after seeing their Christmas profits soar.
The motorway service station chain Little Chef is shutting 67 outlets and axeing almost a third of its workforce. But Greggs the bakers are raising a toast, after seeing their Christmas profits soar.
Monday, 9 January 2012
The great british luxury car boom
Link to the article Channel 4
North of England Correspondent Morland Sanders finds out more about the sector which shouldn't be booming during an economic crisis - but is: the luxury car market.
North of England Correspondent Morland Sanders finds out more about the sector which shouldn't be booming during an economic crisis - but is: the luxury car market.
Friday, 6 January 2012
Now is the winter of our discount tents
Link to the article Channel 4
The camping and outdoor chain Blacks has gone into administration - the latest retailer brought down by the economic downturn. Channel 4 News looks at which shops are facing the most pain.
The camping and outdoor chain Blacks has gone into administration - the latest retailer brought down by the economic downturn. Channel 4 News looks at which shops are facing the most pain.
Wednesday, 4 January 2012
Is the future of british coal burning it underground..?
Link to the article Channel 4
Take a boat out on Swansea Bay, and you'll see a wind turbine spinning in the breeze as you leave the harbour. This is supposed to be the future of energy: green, clean and renewable, writes Ben King.
Take a boat out on Swansea Bay, and you'll see a wind turbine spinning in the breeze as you leave the harbour. This is supposed to be the future of energy: green, clean and renewable, writes Ben King.
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