No compensation for Northern Rock shareholders

Author: By Kelly Macnamara, Press Association

The provisional view of independent valuer Andrew Caldwell, of BDO, is that
there would not have been anything left for shareholders had Northern Rock
had to pay back more than £25 billion Bank of England loans last year.

Read more on No compensation for Northern Rock shareholders…

Rates to stay at record lows, says Nationwide

Author: By Kelly Macnamara, Press Association

Nationwide also said it expected rising unemployment would “inevitably” push
house prices downwards in 2010.

The gloomy predictions came as the UK’s biggest building society’s underlying
pre-tax profits slid to £117 million in the six months to September 30 – 63
per cent below last year’s £322 million.

Read more on Rates to stay at record lows, says Nationwide…

Morrisons reveals growth ‘well ahead’ of rivals

Author: By Kelly Macnamara, Press Association

The supermarket chain said like-for-like sales, excluding fuel and VAT, were
up 4.3 per cent in the 13 weeks to 1 November, a slowdown from the previous
period as falling food inflation took its toll.

Read more on Morrisons reveals growth ‘well ahead’ of rivals…

Profits down 65% at easyJet

Author: By Kelly Macnamara, Press Association

EasyJet posted underlying pre-tax profits of £43.7 million for the year to 30
September, compared with £123.1 million in 2008.

The firm said it was an “extremely resilient” performance in the
circumstances, but predicted a “tough winter” as rising
unemployment takes its toll on demand.

Read more on Profits down 65% at easyJet…

Eurozone countries emerge from recession

Author: By Kelly Macnamara, Press Association

European countries using the single currency grew their collective economy
0.4% in the third quarter.

While it is the first time the bloc as a whole has shown growth, France and
Germany have enjoyed their second period of positive output.

Read more on Eurozone countries emerge from recession…

1,700 jobs go as Threshers stores close

Author: By Kelly Macnamara, Press Association

First Quench – which also trades as Wine Rack, The Local, Haddows, Bottoms Up
and Victoria Wine – fell into administration last month after struggling
amid the recession.

Read more on 1,700 jobs go as Threshers stores close…

Allied Carpets placed in administration

Author: By Kelly Macnamara, Press Association

Administrators for the firm said they had immediately sold 51 stores and
Allied Carpets’ insurance inspection business, protecting around 400 jobs.

But the remaining stores are in the hands of administrators BDO Stoy Hayward.

Read more on Allied Carpets placed in administration…

Hopes raised for sale of LDV

Author: By Kelly Macnamara, Press Association

PricewaterhouseCoopers (PwC) confirmed talks with an unnamed party over the
sale of the business and assets of LDV Group and Birmingham Pressing Limited.

Administrators said that the potential purchaser has indicated it is looking
at the possibility of resuming production at the Birmingham-based firm’s
Washwood Heath site.

Read more on Hopes raised for sale of LDV…

Jobless total shows comparatively small rise

Author: By Kelly Macnamara, Press Association

The number of people claiming jobseeker’s allowance rose by 20,800 in
September from a revised August figure to 1.63 million, according to the
Office for National Statistics (ONS). This is the lowest increase since May
last year.

Read more on Jobless total shows comparatively small rise…

Customers face steep energy price rises, warns Ofgem

Author: By Kelly Macnamara, Press Association

In a review of Britain’s energy market, Ofgem said an investment of up to £200
billion is needed to secure supplies and meet environmental targets.

Read more on Customers face steep energy price rises, warns Ofgem…

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