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Bank chief to step down
Wednesday 15 August 2012 7:00
David Thorburn, head of Clydesdale and Yorkshire banks, is stepping down from the executive committee of the parent company National Australia Bank to focus on a restructuring that will lead to 1,400 UK job cuts.
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Virgin loses rail contract
Wednesday 15 August 2012 7:00
Virgin Rail has lost out to the UK's largest rail operator, FirstGroup, in its bid to continue running the West Coast Mainline. FirstGroup said it would "offer substantial improvements in the quality and frequency of services".
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Uni leavers falling short, says study
Wednesday 15 August 2012 3:00
A new study has claimed that more than a quarter (27%) of senior business managers think university leavers still lack the right skills to enter the business world. The research from Kepner-Tregoe, a global specialist provider of consulting and training services surveyed 500 senior business managers from across the UK to analyse strategy, decision making and performance. The findings reveal that while a third (35%) of managers thought university graduates are not getting the job they deserve, many have concerns about their absence of fundamental skills required to enter the workforce.
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Publisher goes back to school
Tuesday 14 August 2012 9:00
Global publisher Pearson has revealed plans to become a for-profit private higher education provider in the UK with the launch of Pearson College. The facility will teach a degree course validated by existing London universities. The business and enterprise degree, taught in London and Manchester, will have about 40 places this year.
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Confidence hits 2012 low
Monday 13 August 2012 9:00
Confidence among UK businesses has slumped to its lowest point this year, according to the latest Business Trends report from accountancy firm and business adviser BDO. BDO's 'Optimism Index' recorded a seven-month low in July, falling for the fifth consecutive month from 93.5 in June to 93.1.
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Exporters return home
Monday 13 August 2012 6:00
Research from the Engineering Employers Federation (EEF) has found that 40% of UK firms are bringing overseas production back to the UK amid economic unrest abroad. The tade body said: As a result of economic events and natural disasters in recent years that have had tangible impacts on revenue, orders and meeting customer requirements, companies are reviewing their value chain and supplier strategies. This has led to two fifths of companies bringing production back in-house, whilst a quarter have increased their use of local suppliers."
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UK Coal reaches deal
Friday 10 August 2012 8:00
UK Coal reportedly says it has reached a restructuring deal with its pension trustees and customers after swinging to a loss in the first half. Revenues dropped 23% to £198.3m, leading to a material drop in sales due to a poor performance at the Daw Mill and Thoresby mines.
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Brazil investment booms
Friday 10 August 2012 8:00
The UK is now the second largest investor into Brazil after the US, on the back of renewed confidence in the country as a place to do business, according to Ernst & Young’s first annual Brazilian Attractiveness Survey. The report combines an analysis of foreign direct investment (FDI) around the world into Brazil since 2007, with a survey of 250 global executives, on their views on the country as a potential place to do business, both now and in the future.
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Trade lift falls short
Friday 10 August 2012 7:00
Retailers and hospitality firms have reportedly seen the biggest climb in trade during the London 2012 games, although they have failed to meet general business expectations, according to a survey published by Deloitte. The survey of 100 large London companies found 42% reported an increase in demand in the first week of the Games, compared with 27 percent which reported a decrease.
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Aviva sees profits dip
Thursday 9 August 2012 10:00
Insurance group Aviva recorded a pre-tax operating profit of £935m in the first half of 2012, down from £1.04bn in the first six months of 2011.
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News Corp cuts value
Thursday 9 August 2012 9:00
News Corp has reportedly scrubbed billions of dollars from the value of its newspaper publishing division and set out plans for a major programme of cost cuts over the next year. The company, whose UK titles include The Sun and The Times, plunged into the red after cutting $2.85bn from the value of its publishing businesses, as recorded on the company's balance sheet.
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HMV seeks electronic recovery
Thursday 9 August 2012 8:00
Music retailer HMV has reported a £16.2m loss but is pinning its recovery hopes on plans to step up sales of electronic devices. The group, which runs 252 stores, expects profits of at least £10m on the back of tablet device sales alongside CDs, DVDs and headphones.