EasyHotel boss is putting money where his mouth is June 25, 2014 Simon Champion, the chief executive of EasyHotel group, hasn’t had an easy time raising money for his growing group. “There’s no doubt investors are busy and stressed about the amount of IPOs in the market at the moment,” he told me yesterday. So he’s pleased with the £30m he’s raised for capital investment in new [...]
Speed bump in UK recovery as retail sales dip June 25, 2014 UK RETAIL sales growth slowed unexpectedly this month, according to a survey released yesterday, with fewer firms reporting expansion than in any other month so far this year. The data from the Confederation of British Industry (CBI) show that only four percentage points more firms reported growth than contraction in sales so far in June. [...]
House of Fraser sales lifted by demand for own label brands June 25, 2014 DEPARTMENT store chain House of Fraser saw same store sales rise two per cent in the first three months of the year, as customers snapped up its own-label brands. House labels, including Linea and Kenneth Cole, jumped eight per cent in the 13 weeks to 26 April while branded and concessions sales both rose by [...]
Islamic bond rakes in $2bn on first day June 25, 2014 THE FIRST Sharia- (Islamic law) compliant bond in the western world was launched in London yesterday and immediately attracted £2bn in orders, more than 10 times the amount it was looking to sell. The government raised £200m from the five-year sukkuk (bond) issue, part of an bid to boost the UK as a centre for [...]
Salad days for Chop’d as it is served up £2m June 25, 2014 CHOP’D, the salad bar chain founded in the City’s Leadenhall Market 10 years ago, has secured £2m of investment from private equity fund manager Calculus Capital. The group, set up by former Lloyds bank manager Eddie Holmes (above) and gastropub owner Jasper Wight, said it will use the proceeds to triple in size from nine [...]
France set to miss deficit target June 25, 2014 FRANCE’S statistical agency suggested yesterday the economy would grow too slowly to meet the country’s deficit target this year, as German consumer confidence climbed to a post-crisis high. The French agency Insee indicated that the government would likely not meet its growth target – with only a 0.7 per cent boost likely. “With growth clearly [...]
Sentiment souring on prospects for Chinese business in future June 25, 2014 CHINESE consumers are more pessimistic about the country’s economic future than at any time since at least 2007, according to a survey released yesterday. The MNI Indicators and Westpac index of Chinese consumer confidence overall fell to the lowest level in just under a year. The expectations part of the measure dropped to 126.4, the [...]
Stepping down Justin King heading for World Cup final June 25, 2014 Speculation about what Justin King, chief exec of Sainsbury’s, will do after he steps down next month has been rife – will he replace Ecclestone? Will he step into Bolland’s shoes? Will he go back to selling Haagen-Dazs? Well, we can’t reveal what his next career move is, but we do know what he’s doing [...]
London Pride Gala Dinner brings Ian McKellen to the City’s Mansion House June 25, 2014 Sir Ian McKellen was the guest of honour at the London Pride Gala Dinner at Mansion House last night where he was joined by Lord Mayor Fiona Woolf, singer Will Young, TV presenter Claire Balding and headline sponsors Citi and Baker & McKenzie. It was revealed at dinner that Sir Ian is to receive [...]
Woodford fund captures £1.6bn from investors June 25, 2014 THE POWER of City fund manager Neil Woodford’s reputation was on display yesterday after his new fund lured a record £1.6bn from retail investors. The new venture, the CF Woodford Equity Income Fund, launched earlier this month and had been the highest profile launch for intermediaries ever. The fundraise dwarfs similar high-profile launches such as [...]