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Weston open for business - traders

WESTON'S traders have insisted that it is business as usual in the town, despite the fire yesterday (Mon) at the town's Grand Pier.However, opinion is split over how badly the lack of a functioning pier will hit the town.Some members of the business community are concerned that, without a pier, less tourists will visit the town and consequently less money will be spent in the shops.Others think the town will bounce back stronger and the fire may be the catalyst for the regeneration of the town as a whole.While the fire was still burning, Sovereign Centre manager Nick Cooke, said: "It's going to be a big blow for the town. I suspect there will be fewer visitors to the town and, although the Sovereign Centre does not set its stall for tourists, we do still benefit from their trade."The Sovereign Centre was badly affected by road closures and congestion on the day, with only one in 10 car parking spaces in use during the day.Ann Richardson, of Aphrodite, said: "We have been quite busy today and in the short-term more tourists will come but something will have to be done soon otherwise it could be devastating."However, Nick Mager, owner of Weston Donkeys, was more positive, he said: "Short-term it will be hard work and people will have to pull together, but the message has to be that we can come back stronger. more

Inmarsat, United Utilities, Britvic: Business round-up July 25

United Utilities, Britain's largest publicly traded water company, said that current business is in line with its expectations as the utility continues to benefit from higher prices allowed by the industry regulator.

United Utilities is "confident of meeting its regulatory efficiency targets" over the next two years as laid down by the regulator Ofwat, even as energy and property rates increase, the company told shareholders today.

Britivic sees sales jump

Britvic, the company that bottles Pepsi in the UK, said sales have jumped 30pc so far this year after it bought a division of C&C and milder weather followed last summer's rainfall.

Shares in Britvic fell as much as 4.9pc after warning that its cost base is rising. Sales climbed to £690m through July 6, the company said today. more

RMG Capital Corporation Reports Second Quarter Earnings

"The change in our net interest spread is attributable to reduced borrowing costs and a significant increase in our business checking deposits," said Tom Meyer, Bank President. "Increasing our business banking customer base has been the highlight of the first half of the year." As of June 30, 2008, the efficiency ratio for the Bank was 62.5%. As a comparison, the efficiency ratio at December 31, 2008 was 67.8%.

Non-performing loans as of June 30, 2008 were .74% of total loans as compared to .07% as of June 30, 2007. The provision for loan losses was increased during the second quarter by $702 thousand and year to date by $935 thousand. At June 30, 2008, loans delinquent 30 to 89 days totaled $12.8 million, which is 1.88% of the loan portfolio. The Bank believes that one of the reasons for its comparatively low non-performing and delinquent loan percentage is because of the relatively low percentage of land and construction loans in the portfolio. more

Playfish: Using Facebook As Its Gaming Console

The others are belong to notables include SGN, Zynga, and Serious Business.

But traditional gaming companies have been beating the startups on one key metric, monetization. PC and console games saw sales up 43% last year to $18.8 billion. Onine gaming is currently a $1 billion a year business. Pogo.com has around 1.5 million members for it's monthly subscription service, Club Pogo, for which they pay $4.99 a month or $29.99 a year. Free players of the main site are upsold to premium features and game downloads.

But Playfish is taking a similar approach, looking to monetize gamers on all points of the demand curve. Gamers who are happy to play the basic game will be subject to advertising, while players looking for more can pay for upgrades and premium games. more

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