The Artesian blog takes a look at the business headlines, For personalised daily news, contact Artesian
Wetherspoon sales stabilise amid profit fall - JD Wetherspoon, the pub owner, reported a 17 per cent fall in full-year profits after the company was forced to write-down the value of pubs that traded badly in the depths of the recession.
Pre-tax income totalled £45 million in the year to July 26, down from £54.2 million, following exceptional charges of £21.1 million. Those costs included £6.5 million of pub write-offs, and a further £9.4 million knocked off the company's fixed assets. (full story)
Rover bosses took £42m from firm - A report into the collapse of carmaker MG Rover will say that five executives took £42m in pay and pensions from the troubled firm, the BBC has learned.
Independent inspectors said the men behind the takeover and the executive they appointed enriched themselves as Rover headed for insolvency. (full story)
Twitter expands rules to allow advertising - Twitter, the fast-growing microblogging site now seeking ways to make money, expanded its terms for users on Thursday to allow advertisers to reach the Internet site's more than 45 million monthly visitors.
Twitter, the two-year-old venture capital-backed company that lets people send an unlimited number of 140-character messages, is just now beginning to ramp up efforts to monetize, or gain revenue from, its popular site. (full story)
No Change: Bank Keeps Interest Rate On Hold - The Bank of England has - as expected - opted to keep the interest rate unchanged at 0.5%.
The Bank of England has - as expected - opted to keep the interest rate unchanged at 0.5%. (full story)
Sports stores face fraud inquiry into claims of price-fixing - The Serious Fraud Office has launched an investigation into alleged anti-competitive activities and fraud involving the sportswear retailers JJB Sports and Sports Direct that could lead to significant fines and even jail sentences if such practices are found to have occurred.
Following a referral from the Office of Fair Trading, the SFO confirmed that it had beguns proceedings after JJB approached the OFT in exchange for immunity in January. Yesterday, the offices of both companies were raided as part of a wide ranging investigation into alleged "cartel activity" between the chains to lessen competition in the sportswear sector. (full story)
0 comments:
Post a Comment