Betfair hit by pay revolt over Breon Corcoran bonus despite record revenues September 4, 2014 Almost one third of Betfair shareholders yesterday voted against pay and bonus deals for chief executive Breon Corcoran, despite the online betting exchange reporting strong growth in quarterly profit, thanks mainly to the World Cup. At its annual general meeting yesterday, Betfair said it had generated revenue of almost £16m from the World Cup, more [...]
Lego towers over Mattel in battle to become the biggest toymaker in the world due to summer movie success September 4, 2014 LEGO has become the world’s largest toy maker after the success of this year’s Lego Movie saw sales of related products soar sending profits up 12 per cent to 3.6bn Danish kroner (£386.5m). Revenues at the Danish firm rose 11 per cent during the first six months of the year to 11.5bn Danish kroner. The [...]
Two-thirds of London businesses are struggling to hire due to a shortage of skilled workers September 4, 2014 London’s businesses are calling out for skilled workers but 66 per cent have struggled to recruit the highly skilled workforce they need, according to research released yesterday by the Confederation of British Industry (CBI) and professional services firm KPMG. As a result nearly half of London’s companies (45 per cent) now say that there is [...]
Is this your next vacuum cleaner? September 4, 2014 IT MIGHT look like a scary new-age robot straight out of Doctor Who, but in fact this handy device is Dyson’s latest vacuum cleaner. The 360 Eye can see a whole room at once thanks to the camera on top of its head. You can even programme it to clean your house while you’re at work, [...]
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 [...]