Finance Tart

John Lewis staff share £151m bonus pot

Kay Murchie — Thu, 11 Mar 2010 18:51:33 +0000

John Lewis Partnership, the renowned employee-owned department store, has revealed its staff will share a bonus pot of £151 million.
The announcement came after the 146-year-old group said annual pre-tax profits grew 9.7% to £306.6 million.
According to John Lewis chairman, Charlie Mayfield, the company’s 70,000 staff – or partners, as John Lewis refers to them [...]

“Blue skies ahead”, say IATA

Kay Murchie — Thu, 11 Mar 2010 18:30:22 +0000

According to the International Air Transport Association (IATA), the global airline industry is improving, with both passenger and freight numbers expected to grow this year.
In January, the industry body said 2009 saw the biggest decline in air passenger traffic since the aftermath of World War II.
The global economic downturn had a devastating impact on the [...]

Hochschild Mining leads sector lower

Elaine Frei — Thu, 11 Mar 2010 18:18:22 +0000

European equities markets were lower Thursday after new data from China showed that nation’s inflation hit a sixteen month high in February, causing concerns that China will tighten its monetary policy further.
The FTSE 100 was down 0.41 percent to 5,617.26 in London, while the FTSE 250 dropped 0.11 percent to 9,854.44.
Most miners saw declines [...]

Fears over Cartel Client Review fees

This is Money | Home — Thu, 11 Mar 2010 18:16:00 +0000

Fears are growing over millions of pounds in fees paid by indebted people to a claims firm linked to a solicitors shut down by the industry watchdog

Treacherous weather conditions cost insurers £650m

Kay Murchie — Thu, 11 Mar 2010 18:09:08 +0000

The Association of British Insurers (ABI) today reported the heavy snowfall earlier in the year cost insurers £650 million in weather-related claims.
Between December 18 and January 13, when snow and plummeting temperatures swept the country, there were around 335,000 claims, said the ABI.
The majority of the claims came from motorists as a result of the [...]

Greece at standstill again in third general strike

Kay Murchie — Thu, 11 Mar 2010 17:52:59 +0000

Crisis-hit Greece has come to a standstill again today after workers staged the third general strike in as many weeks.
The further strike comes after austerity measures to rescue Greece’s debt-stricken economy angered Greek trade unions.
Greece is currently taking action to reduce its public deficit from 12% to 8% of GDP this year.
The country currently [...]