Argos firm to see profits fall

April 30, 2008

Home Retail Group (HRG) the owners of Argos and Homebase chains have warned that its sales are set to fall due to a consumer slow down. HRG have however reported a 15 per cent increase in underlying profits to £433m for ...

Games profits boost by Wii and PS3

April 30, 2008

The game and computer console retailer Game have seen profits rise by more than 150 per cent from last year. Chairman Peter Lewis said it had been an "outstanding" year. This year's sales have been further boosted by this week's release of ...

Norwich Union name to vanish after 200 years

April 30, 2008

The world's fifth largest insurance company Aviva is to cut its ties with the Norwich Union brand which is 200 years old. It is part of a marketing exercise that will see Aviva operating under one name worldwide. Aviva own several ...

Nationwide want deposits of at least 10%

April 29, 2008

Nationwide, the UK's second biggest mortgage lender are asking for deposits of at least 10 per cent of the property's value from new customers on all but two of its mortgage deals. The controlled new criteria also sees a variable rate ...

Halifax Bank of Scotland to ask for extra funds

April 28, 2008

Halifax Bank of Scotland (HBOS) is considering a rights issue of up to £4bn. HBOS is the UK's biggest mortgage lender. The directors are due to meet this week for the banks annual general meeting and it is thought this when ...

Asda and other supermarkets under more suspicion

April 28, 2008

The UK's four biggest supermarkets including Asda, are under investigation by the office of fair trading (OFT) for fixing the prices of health, beauty and grocery products. The OFT have visited the head offices of Asda and Morrisons and they have ...

Northern Rock to cut 2000 jobs

April 25, 2008

The chief executive of Northern Rock, Ron Sandler is finalizing plans to make redundant 2,000 staff. Northern Rock are expected to confirm the plans at a 90 day consultation process which starts next week between Northern Rock and Unite, the financial ...

American Express suffer from credit card default

April 25, 2008

American Express' profits in the first quarter of the year have dropped by 6 per cent due to the number of cardholders not making payments. The three month period until March 31st saw profits fall from $1.06bn at the same time ...

BT customers hit by 2000 per cent price increase

April 24, 2008

BT are facing allegations of "sneakily" switching millions of customers to a new tariff which could see them paying up to 2,000 per cent more for their calls. Across the country phone bills are due to rise by at least £300m ...

Barclays hit by tough market conditions

April 24, 2008

Barclays have admitted that even thought they were profitable in March the markets were "tough". Chief Executive John Varley said "We were were profitable in March as well but trading conditions were tougher, meaning that Group profits for the first quarter ...

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