Jessops reopens 2 months after collapse as Peter Jones charts revival course

Written on:March 29, 2013
Comments
Add One
Jessops reopens

Jessops relaunches on high street with £4m investment

Jessops is back on the high street with ‘Dragons’ Den’ TV star Peter Jones having lapped up the collapsed camera chain, two months after it went into administration. Two Jessops stores opened at London’s Oxford Street and Birmingham yesterday, while four others are slated to open over the Easter weekend in Manchester, Aberdeen, High Wycombe and St Albans. Under the £4m investment programme, 30 more Jessops stores are due to reopen in April.

Read more…

BlackBerry quarterly profits touch £65m; 1m Z10 smartphones sold

Written on:March 28, 2013
Z10

Mobile phone maker, BlackBerry, has announced that it has sold one million of its new Z10 smartphones in its first month on sale. BlackBerry quarterly results demonstrated that the mobile phone maker had made profits of £65m. BlackBerry had suffered a massive loss for the same period in 2012. Blackberry Z10 smartphone has been available in the UK market, Canadian market and other markets for a month. The BlackBerry profit…

Read more...

Lloyd’s of London’s 2012 pre-tax profits touch £2.77bn, 2011 loss reversed

Written on:March 28, 2013
Lloyd's building

Lloyd’s of London, the globe’s oldest insurance marketplace, has returned to a profitable condition in spite of Superstorm Sandy of 2012, which resulted in Lloyd’s of London having to shell out a humungous £1.4bn payment. Lloyd’s of London’s payout, due to Superstorm Sandy, was one of the biggest in its history of 325 years. Lloyd’s of London, nonetheless, still made pre-tax profits of £2.77bn, overturning a loss for 2011 of…

Read more...

UK search-and-rescue helicopter service sold to Bristow Group for £1.6bn

Written on:March 26, 2013
Rescue helicopters in UK

The UK has privatised its helicopter service by selling to a US-based company bringing an end to 70 years of Sea King search operations by the RAF and the Royal Navy. In a deal worth £1.6bn, Bristow Group, which is based in Texas, will now run the UK’s search-and-rescue (SAR) helicopter service in Britain from 2015 to 2026. The Department for Transport (DoT) said the contract would deliver improved flying…

Read more...

Schroders to buy Cazenove Capital for £424m to reduce its cash pile

Written on:March 26, 2013
Fund manager checking stocks

Schroders will buy rival Cazenove capital for £424m in an all-cash deal, marking the biggest transaction in the history of  the asset management firm. The deal strengthens Schroders’ offering in private banking. Schroders, one of Britain’s biggest and oldest asset management firms, will purchase smaller rival Cazenove Capital, which is a historic City of London institution that launched in 1823 and has reportedly counted Queen Elizabeth II among its clients.

Read more...

Easter deals: Amazon, Groupon, Voucher Codes offer huge discounts

Written on:March 25, 2013
Couple indulging in online shopping

Easter is round the corner and what best way to shop than to check out these online deals from Groupon, Amazon and Voucher Codes. Make your online shopping a happy experience by bringing home these products at a price that you like for the gift that your loved ones would cherish this Easter. Amazon offers lightning deals under various categories with a horde of products up for grabs for the…

Read more...

Centrica signs £10bn gas import deal with Cheniere to boost UK gas reserves

Written on:March 25, 2013
Centrica signs gas import deal

Centrica has entered into a landmark deal to import gas from the US in a £10 billion supply deal that will help provide gas to 1.8 million UK homes. The deal with Cheniere Energy Partners for 89 billion cubic feet of annual liquefied natural gas (LNG) volumes is the first time that the UK has entered into a formal gas import agreement with the US. The British Gas owner said…

Read more...

Cyprus bailout deal worth £8.5bn reached, country averts bankruptcy

Written on:March 25, 2013
Bank of Cyprus ATM

Cyprus bailout deal has become a reality with the country securing a 10bn euros (£8.5bn) EU bailout which will effectively save the country from bankruptcy and help its banking system stay afloat. In return for the rescue funds, Cyprus must restructure its banking sector under an EU-IMF plan approved by eurozone ministers earlier today. The Cyprus bailout deal will see the closure of country’s second-largest bank, Popular Bank of Cyprus,…

Read more...

BP announces share buyback worth £5.26bn to return shareholders’ money

Written on:March 22, 2013
BP office in Canada

BP has announced $8bn (£5.26bn) share buyback following the sale of its stake in TNK-BP, the oil group’s joint venture in Russia with the Kremlin-controlled oil group Rosneft. The share buyback is being implemented to return shareholders’ money that was invested in the complicated Russian venture. BP agreed to sell back its 50% stake in TNK-BP to Russia’s Rosneft in October in return for $17.1bn (£20.14bn) in cash and shares.

Read more...

British gas prices record 7-year high after UK-Belgium pipeline shuts down

Written on:March 22, 2013
Oil refinery plant

British gas prices rose a record 7-year high by almost 50% on Friday following the closure of the UK-Belgium import pipeline due to technical problem. Gas prices for within-day delivery spiked at 150 pence per therm, which was more than 50% above Thursday’s closing price, following the closure of the pipeline linking Britain and Belgium that facilitates gas imports from Europe. The gas prices have since eased to 124p a…

Read more...