Service sector in US sees growth at record pace September 4, 2014 America’s service sector unexpectedly gained more momentum in August, according to data released yesterday by the Institute for Supply Management (ISM). And the ISM’s employment index hit a multi-year high ahead of the government’s payrolls report, due out today. The ISM’s non-manufacturing purchasing managers index increased to 59.6 in August from 58.7 in July. The [...]
Ex-New York Mayor Michael Bloomberg U-turns after tiring of the quiet life September 4, 2014 Financial news company Bloomberg announced yesterday that president and chief executive, Daniel Doctoroff would be stepping aside for founder and former New York Mayor Michael Bloomberg to return. Bloomberg, the majority shareholder, had said that he had “never intended to come back”. On leaving office as New York mayor in 2013, he previously said he [...]
Google settles 10-year legal spat with LVMH September 4, 2014 SEARCH giant Google and luxury goods group LVMH Moet Hennessy Louis Vuitton yesterday announced they had settled a decade-long legal dispute over counterfeit goods being advertised online. LVMH had complained that Google was selling ads that infringed on its trademarks and linked to counterfeit products for sale. Yesterday’s settlement will see both firms work together [...]
SuperGroup gets ready for a hot autumn with “broadest and best range of jackets” September 4, 2014 SuperGroup boss Julian Dunkerton declared yesterday that sales were back in shape after the colder weather and the approach of autumn drove customers back into its stores. The owner of the Superdry fashion brand posted a 3.7 per cent decline in like-for-like sales in the first quarter of the year to 27 July after facing [...]
Analyst Views: What did you think of Supergroup’s recent trading performance? September 4, 2014 KATE CALVERT | INVESTEC SuperGroup’s slightly better-than-expected first quarter performance should reassure that the UK is solid and the long-term growth story intact. Encouragingly like-for-likes are positive in the second quarter to date…we believe the company is on the right trajectory to achieve our forecasts. JOHN STEVENSON | PEEL HUNT Like-for-like sales were in line [...]
Getty Images taking Microsoft to court over new Bing Widget online photo tool September 4, 2014 Microsoft has launched a new online product that Getty Images says allows website publishers to embed digital photographs on their sites and is a “massive infringement” of copyrighted images, the photo agency claimed in a lawsuit filed in federal court in New York yesterday. Microsoft’s Bing Image Widget, released on 22 August, gives publishers the [...]
Co-operative Group promises return to form after torrid time September 4, 2014 The Co-operative Group yesterday said it was poised to get the battered mutual back on track after returning to profit this year. The retail-to-funeral care provider said income for the six months ending 5 July was £116m, compared to a £1bn loss during the same period last year. The 150-year-old business also announced [...]
Guinness brews up competition for craft beers September 4, 2014 Diageo is fending off rising competition from craft beer makers by launching its own under the Guinness brand, the drinks giant revealed yesterday. The FTSE 100 company said it had launched two new beers, a Dublin porter and a West Indies porter, which will be available in certain pubs and shops by mid-September. The West [...]
Outsider David Lammy seeks first-mover advantage in London Mayor bid September 4, 2014 Labour MP David Lammy has made an early bid for his party’s nomination to be the next London Mayor. The Tottenham MP threw his hat into the ring yesterday morning, nearly a year to the day since he first announced he was considering running for the coveted London role. “I spent a long [...]
Chemicals firm Alent sees boss Corbett resign September 4, 2014 Speciality chemicals maker Alent announced yesterday that its chief executive Steve Corbett would step down immediately, and its assembly materials division president Rick Ertmann would take over as interim chief executive. Shares in the company fell as much as three per cent during early morning trading yesterday after the company did not announce a reason [...]