Retailers return to stores even as footfall dips August 17, 2014 UK high streets are getting less and less empty as the economic recovery continues, even as fewer shoppers actually head for shops. The British Retail Consortium (BRC) and Springboard revealed this morning that the vacancy rate in UK town centres had dropped to just 10.1 per cent in July, half a percentage point down from [...]
Ebola outbreak and Ukraine conflict pose threats even as supply chain risk drops to 18-month low August 17, 2014 Geopolitical and major disease risks have had less effect than widely believed on the world economy, with supply chains at their least risky levels for a year and a half. According to the Chartered Institute of Purchasing and Supply (CIPS), supply chain risk dropped to an 18-month low in the second quarter of the year, [...]
Monarch to cut costs and plane numbers to fight budget rivals August 17, 2014 Monarch Airlines is believed to be considering cutting around 1,000 jobs as part of a major strategic review as it seeks to revive its fortunes in a bid to take on low-cost rivals such as easyJet and Ryanair. Delivering the strategic review is one of the key goals of new chief executive Andrew Swaffield, who [...]
Top RAC staff in line for £300m listing windfall August 17, 2014 SENIOR executives at RAC are set to share a windfall of up to £300m if the breakdown recovery service decides to push ahead with its expected float next month. Plans to list on the London Stock Exchange would put the group’s top managers in line to benefit from their combined 15 per cent stake in [...]
Woodford takes 30pc stake in online estate agent Purplebricks August 17, 2014 Star fund manager Neil Woodford has taken a £7m stake in Purplebricks.com, an online estate agency, in his new fund’s biggest investment in a private firm to date. Purplebricks, which was founded by brothers Michael and Kenny Bruce, aims to undercut agents’ sales commission with a fixed fee of £599 and offer a 24-hour service. [...]
Solid quarter for builders August 17, 2014 THE CONSTRUCTION Products Association reported today that the sector saw strongest rate of growth in new work since the before the crisis during the second quarter. The group’s economics director, Noble Francis, said that private new housing was the key driver of construction activity. A net 41 per cent of contractors reported that private housing [...]
Lastminute.com-owner Sabre eyeing up sale of the travel site August 17, 2014 Travel website Lastminute.com is reportedly up for sale by its owner, US technology group Sabre Holdings. According to Sky News, Sabre has appointed bankers from advisory group Houlihan Lokey to oversee an auction for Lastminute.com, which it bought for £577m for in 2005. “We are always reviewing options to make our technology company as successful, [...]
Jeff Randall: From Sky soap box to Prudential sounding board August 17, 2014 So, Jeff Randall’s off the to the Pru. The veteran business hack, whose career has seen him go from The Telegraph, to the BBC to Sky (from where he stepped down earlier this year) is to become an adviser to Prudential boss Tidjane Thiam. Ah, I hear you say, another journo heads-off into a PR [...]
City workers take grueling morph suit TRY-ART-LON triathalon challenge August 17, 2014 They're usually the preserve of stag parties and festival goers but morphsuits played a big part in Rothschild Wealth Management director James Peterson’s weekend. He and his two friends, Jamie Ritchie – a partner at Wilsons law firm and friend Charles Betts donned purple morph suits to take part in their self-styled TRY-ART-LON, a [...]
Weekend horseplay at the Walkie Talkie August 17, 2014 During the week, 20 Fenchurch Street (the Walkie Scorchie to you and I) is a surrounded by besuited City workers going about their hectic days but yesterday it was a different story. Yesterday there was a horse and a film crew. It was the making of a corporate video but the team were tight lipped [...]