Made in Britain celebrates snapshots of industry

State-of-the-art heavy engineering in the North East, traditional manufacturing processes in the Midlands and on Merseyside, and one of Wales’s greatest export stories have all been celebrated in this year’s Made in Britain Photography Awards 2013. The awards organised by the EEF, the manufacturers’ organisation, and supported by The Times were handed out in a ceremony today […]

Tesco accused of ‘losing way’ over price rises

The pressure on Tesco to trigger a price war intensified yesterday when it was accused of falling into the “impossible position” of being uncompetitive on both value and quality. Bruno Monteyne, a senior analyst at Bernstein Research who worked at Tesco for a decade, said that it had “made some bad decisions” and had raised […]

SFO red faced as £40m bribery case collapses

A billionaire metals magnate with links to Tony Blair and Lord Mandelson was acquitted of bribery charges yesterday after Britain’s white-collar crime-fighting agency pulled the plug on a landmark prosecution. Victor Dahdaleh, 70, walked free from court after it emerged that key witnesses for the Serious Fraud Office had a potential conflict of interest. The […]

Q&A: tips for SMEs on how to find funding

Brian Henderson, head of PwC’s fast growth companies programme and private business specialist, answers your questions on strategies and investment. • Q: What more innovative funding options are available to me to grow my business? Over the course of the last few years it’s true that many SMEs have struggled to get access to the […]

Bostock resigns as RBS finance chief after ten weeks

Shares in Royal Bank of Scotland fell 2 per cent this morning in reaction to the surprise resignation of its finance director after only ten weeks in the job. Analysts questioned whether the sudden departure of Nathan Bostock would hamper RBS’s restructuring plan, under which it is trying to sell its US division, shrink its […]

Tesco throws down gauntlet to big banks

Tesco will launch a current account next year, posing what may be the biggest challenge yet to traditional banks. The account from Tesco Bank will join only a handful of current accounts offered by companies that are not banks, including M&S Bank. Other challengers, such as Virgin Money and Sainsbury’s Bank, do not provide current […]

Lloyds fined £28m over high pressure selling

Lloyds Banking Group has been fined a record £28 million for “serious failings” over incentives for sales staff which encouraged them to sell products to customers which they did not want. It is the largest fine imposed on a bank by the Financial Conduct Authority and will be split between Lloyds and Bank of Scotland, […]

Mary Barra in the driving seat as new GM boss

For as long as anyone can remember, motor manufacturers have been dominated by “car guys” — industry lifers with petrol in their veins — but that changed yesterday when General Motors named Mary Barra as its new chief executive. She is the first woman to head a big automotive group. The ultimate “car gal”, Ms […]

Informa set for return to Britain

The owner of Lloyd’s List plans to move back to Britain four years after it headed to Switzerland, giving a boost to George Osborne. Informa, the FTSE 250 media group, said that it was awaiting shareholder approval to return to Britain next year. A move would follow the example of WPP, the advertising group, Shire, […]

Bailed-out Monarch flies back to black

The parent company of Monarch Airlines has returned to the black two years after a bailout by its Swiss owners and has vowed to lure holidaymakers away from Europe’s budget airlines by offering a less “stressful” travelling experience. Monarch Group, which owns Cosmos Holidays and an aircraft engineering business as well as its eponymous airline, […]