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PRESS DIGEST - British business - Nov 9
November 9, 2012 / 2:42 AM / 5 years ago

PRESS DIGEST - British business - Nov 9

The Times

G4S LOSES PRISON PRIVILEGES AFTER OLYMPICS STAFF DEBACLE

The summer’s Olympic staffing fiasco came back to haunt G4S on Thursday as the security company was shunned by the government in a wave of lucrative contracts to run privatised prisons.

BUILDER‘S WARNING AS POOL OF WORK DRIES UP

Balfour Beatty, the construction giant behind the Olympic Aquatics Centre, issued a surprise profit warning yesterday, wiping more than 300 million pounds ($480 million) off its market value, because of a lack of major projects.

SNAKES IN THE GRASS TAKE THE CREDIT AS SALES SURGE AT BTG

Each time a rattlesnake bites an unfortunate American hiker, the till rings at BTG. Anti-venom sold by the drugs company rakes in revenue of more than $10,000 per snake attack.

QUESTIONS ASKED AS RECOVERY FAILS TO TAKE OFF

The Bank of England froze its asset purchasing scheme on Thursday, but economists believe that there will be more to come as the economic recovery fails to take off.

The Telegraph

DRUG DEALERS, GUN RUNNERS AND BRITAIN‘S BIGGEST BANK

British tax authorities have obtained details of every British client of HSBC in Jersey after a whistleblower secretly provided a detailed list of names, addresses and account balances earlier this week.

APPLE LOSES NUMBER 1 SPOT TO RIVAL SAMSUNG

Apple has been knocked off its throne as producer of the world’s best-selling smartphone with Samsung’s Galaxy S3 overtaking the iPhone 4S for the first time.

The Guardian

TAIWAN‘S FOXCONN MULLS PLAN TO OUTSOURCE JOBS TO AMERICA

Foxconn, the controversial Taiwanese manufacturer that has become one of the world’s largest employers thanks to booming demand for the Apple products it assembles, is reportedly planning to open factories in the United States.

INQUIRY INTO BOARDROOM BIAS TO EXPAND REMIT

Lord Davies’ inquiry into male dominance in boardrooms is preparing to extend its remit by setting female hiring targets for companies outside the FTSE 100.

AVIVA WARNS OF HUGE LOSS ON U.S. ARM SALE IN MAJOR SHAKE-UP

Aviva warned on Thursday that it would take a big loss on the sale of its U.S. life insurance and annuities arm, which forms a key part of a shake-up aimed at boosting the insurer’s flagging share price.

The Independent

WORRIES OVER BRITAIN‘S FUTURE AS A GLOBAL FINANCIAL CENTRE

An amber light is now flashing over the attractiveness of Britain as a place to set up and grow financial and related professional-services firms, the leading body promoting the country to such businesses warned on Thursday.

BARCLAY BROTHERS JOIN BIDDERS FOR COMET ASSETS

Shop Direct, the home shopping group owned by the Barclay brothers, is considering acquiring the brand and website of the failed electricals retailer, Comet, which is to start closing some stores next week.

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