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  • ABA threatens to sue regulators over Volcker Rule

    December 23, 2013 9:49 PM 12

       Text Size   Published: Monday, 23 Dec 2013 | 4:48 PM ET The American Bankers Association said it will file a lawsuit challenging the Volcker Rule unless regulators agree to suspend portions that restrict certain collateralized debt obligations of trust-preferred securities, American Banker reported Monday. "If the rule is not suspended, we will shortly

  • business/food-drink-agriculture

    December 23, 2013 8:39 PM 17

    PREMIER Foods chief executive Gavin Darby yesterday unveiled a turnaround plan for the owner of brands such as Hovis bread and Mr Kipling pies, which could include a £300 million rights issue earlier next year. In an interview with a Sunday newspaper, Darby pledged to tackle the debt and pensions mountain faced by the food producer and turn Premier into a “normal

  • Scottish beer maker BrewDog hits crowdfunding target

    December 23, 2013 5:01 PM 13

    BrewDog has announced it has secured its £4.25m target for investment from its customers. The fast-growing Aberdeenshire brewery sourced the money through a crowdfunding scheme. More than 8,124 investors signed up for the 42,000 shares put on offer, priced at £95. The brewers set out to raise £4m last June, and raised quarter of that within 24 hours

  • Stansted owner 'to challenge Airports Commission figures'

    December 23, 2013 4:03 PM 14

    The owner of Stansted is reportedly planning to challenge figures used by the Airport Commission to rule it out of contention for a new runway. Heathrow and Gatwick were shortlisted for possible expansion last week in the commission’s interim report while Stansted’s plans were omitted. Charlie Cornish, chief executive of the Essex airport’s owner Manchester

  • Iberdrola sells stake in UK nuclear group to Toshiba

    December 23, 2013 3:13 PM 16

    MADRID (Reuters) - Spanish utility Iberdrola has agreed to sell its 50 percent stake in British nuclear consortium NuGen to Japan's Toshiba <6502.T> in a deal that could help rejuvenate Britain's nuclear construction plans. NuGen, a joint venture between Iberdrola and French utility GDF Suez , owns a site at Sellafield on the northwest coast of England

  • Weather Threat To 'Biggest Xmas Shopping Day'

    December 23, 2013 8:34 AM 14

    As stores brace for rush of shoppers there are fears the experience will become one of 'shop til you drip' amid winter storms. It is predicted 15 million shoppers will hit stores in a 'manic Monday' rush for Christmas goodies, spending £2.6m a minute. But the spending spree could fall short of retailers' expectations as a series of weather warnings threaten

  • Morrisons delivers groceries online with Ocado

    December 23, 2013 12:38 AM 14

    SUPERMARKET group Morrisons has launched its long-awaited online food business to grab a chunk of the growing cyber-grocery market. Its website went live yesterday and ­deliveries should begin across the ­Midlands from January 10 and half the UK by early 2015. Morrisons had faced widespread criticism for trailing rivals such as Sainsbury’s, Tesco and Wal-Mart’s

  • Digital rights risk inconsistency, say MPs

    December 23, 2013 12:12 AM 13

    A proposed new law designed to improve consumer protection for purchasers of digital music risks being inconsistent, a committee of MPs has said. The government has proposed a Consumer Bill of Rights, to update some laws that have been unchanged for decades. But the Business Select Committee said it would mean a refund for someone who bought a faulty

  • Vince Cable: Reconsider Help to Buy scheme

    December 22, 2013 12:46 PM 19

    The Help to Buy scheme to lift the housing market should be reconsidered by the government, according to Business Secretary Vince Cable. He told the BBC: "We certainly need to look at that [scheme] again. It was conceived in very different circumstances." Help to Buy has been criticised by some who say it has boosted house prices too quickly. He warned

  • BoE's Bailey: Watching UK housing market, not out of control - paper

    December 22, 2013 8:44 AM 11

    LONDON (Reuters) - The Bank of England is watching Britain's fast-rising housing market closely and has the tools to take the heat out of it if needed, the central bank's Deputy Governor Andrew Bailey said in a newspaper interview published on Sunday. "We are very focused on the housing market," Bailey told the Sunday Telegraph. "We have to be very careful