What Auto Trader's decision to stop printing means for the industry

Another nail will be hammered into the coffin of print media in June, when Auto Trader ceases publication and moves all of its ventures online.

London's record share of UK economy

London is vastly outperforming the rest of the country in pretty much every sense economically, according to new research. This news was gloated about in the capital’s free business paper, City A.M., on Thursday under the headline ‘London Rules’.

O2 sells broadband business to Sky

O2 has sold its consumer broadband services to Sky. Rupert Murdoch’s telecoms giant has reached a deal with Telefonica UK, O2’s parent company, which will make Sky the second largest broadband provider in the UK.

Mike Ashley share sale hurts Sports Direct

What’s good for Mike Ashley isn’t necessarily good for his company. This week the tycoon who founded the budget retailer Sports Direct sold a 4% share in the company, but while he bagged £100m for 4% of his share, the markets turned against the company, with shares subsequently losing 7% of their value.

HSBC "not fit for purpose" says CEO

The boss of HSBC has had a moment of clarity.

“Our structure was not fit for purpose for a modern world,” said Stuart Gulliver, the bank’s CEO. The London-based firm has recently been plagued by scandal, in which it was found to have been involved with money laundering for drug gangs and terrorist-connected organizations all over the world.

Public Pressure made Goldman Sachs ditch bonus plans

Chief executive of Goldman Sachs’, Lloyd Blankfein has publicly admitted that the reason behind the bank’s decision to drop its plan to save its British employees millions of pounds in bonuses through tax avoidance schemes was due to media pressure and outrage.

Tax Fraud at an All Time High

Tax Fraud is now at an all-time high following the start of the recession.  The Vat gap is believed to be around £3.3bn and is being blamed on the HMRC being under-resourced according to BDO’s FraudTrack report.

Nissan to invest £250m in Sunderland

Japanese car giant Nissan has released a statement announcing their intentions to invest £250m in a factory in Sunderland, promising to create "hundreds of jobs" in the area.

Renewable Energy - The future?

It has been said that the energy debate in Government threatens to tear the coalition apart and that the World Bank has been issuing grave concerns over climate change and coal crunching energy providers. Renewable energy is getting more and more popular these days with both domestic and corporate entities opting in. There seems to be, however, a group of billionaire boys club members who are aggresivly taking on the Renewable Energy sector.

Opus Energy award £25,000 to Novice Hurdle Winner

Opus Energy, the UK's leader in business energy, sent out a press release this week congratulating a trio of horse whisperers for winning at their Grade 2 Opus Energy Novice Hurdle. Paul Nicholls, who trained the winning steed Dodging Bullets, the rider Ruby Walsh and its breeder Frankie Dettori were all beaming with joy at their success.

Ex Boss of Kettle Chips repays Bonus

Michael Mendes, suspended in February as chief executive of Diamond Foods, has agreed to repay two years’ worth of bonuses after an accounting scandal was exposed.

An investigation discovered a number of irregularities that cause the firm to restate its 2010 & 2011 finances.

Mendes left the firm with no severance pay and will be paying back $2.7m of bonuses and 6,665 of company shares.

TopShop Tycoon says “Stop Moaning”

Sir Phillip Green, owner of the High Street giant Arcadia Group, has spoken out against fellow UK retailers urging them to stop their moaning about the local economic climate and to just get on with it. After Arcadia reported flat sales for last year, Green said

 "We've got to trade. I can't keep listening to all these people making it up as they go along. We've got to up our game. If we sit there and cry and put on my front window the Bank of England said X, it isn't going to help me take any money."

 This comes as the Bank of England predicted doom and gloom by announcing that the UK is set to travel a long and winding road of recovery with sluggish growths and rising prices.

Spare cash? Invest Abroad!

It seems that investing in emerging markets is the way to go. With an average of 6% a year income in regards to bonds it is no wonder that many investors are looking overseas.

IOUs provided by companies and Governments are proving to be popular in countries such as the Ivory Coast, Venezuela and Serbia, as they pay out an income until they are cashed in.

Darius McDermott, managing director of Chelsea Financial Services says: 'Emerging market bonds are offering a good yield of about five to six per cent. Their popularity is growing and more funds are launching.'

So let’s take a look at some funds that allow you to lend to up and coming countries:

Opus Energy Have a Fantastic 10th Anniversary

Charlie Crossley-Cooke, Managing Director of Opus Energy

At Business Online we’ve followed the growth of Opus Energy fairly closely. We’ve written articles about who they are and what they do and all of their accomplishments. 18 months ago we told you about their success on The Sunday Times Top Track 250 and their announcement of 100 new jobs.

Well it looks like there’s more news to come. In this year’s Top Track 250, Opus Energy has managed to beat their last placement and have made position 129 on the list. They attribute this to a 38% growth in their revenue over the 2011/12 year, as well as the 100 new jobs created last year.

Five Million Paid Less Than Living Wage

A KPMG-commissioned study has found that almost five million of staff throughout the UK and Northern Ireland are paid less than the recommended living wage level. It currently stands at £7.20, although those working in London see a £8.30 level due to increased living costs.

The living wage level is a calculation on how much per hour a worker should be paid in order to provide a decent standard of living for them. This includes the ability to pay rent, bills and necessities.  The living wage is a voluntary rate of pay above the mandatory minimum wage level of £6.19 for those over 21.