Bottom Line: Britain is proving ready for Asia’s century April 14, 2014 IT’S a welcome reminder of Britain’s world-class commercial creativity. Two firms whose brands we might think of only as local icons, House of Fraser and Cath Kidston, are attracting fierce interest from Asian buyers. In the case of House of Fraser, the deal is done, China’s San Power now has an 89 per cent stake [...]
City jobseekers out in force as confidence in market booms April 14, 2014 THE NUMBER of City workers looking for a new job has almost doubled since last year, rocketing 92 per cent, new figures show today. Recruiter Morgan McKinley now has 9,373 jobseekers on its books, a huge increase from the 4,884 it had a year ago. However, over the same period the number of vacancies has [...]
Co-op Group braced for new round of losses April 14, 2014 THE CO-OPERATIVE Group is set to follow its bank into multi-billion pound losses when it reports its finances later this week. The troubled retail, pharmacy and funerals group is expected to have lost up to £2.5bn in the last year, during which it has lost its chief executive, Euan Sutherland, who quit over a row [...]
UK art exports hit five-year high as investors opt for trophy assets April 14, 2014 THE value of art exported from the UK has risen to £10.5bn, its highest level in five years, as wealthy buyers increasingly choose to invest. The surge cements London’s status as the leading marketplace for art, according to a report today from Thomson Reuters. Figures show the total value of artworks and cultural items leaving [...]
Advice black hole looms for UK pensioners April 14, 2014 THOSE APPROACHING retirement could face an advice “black hole” according to a new report by PwC. Under changes announced by the chancellor in his Budget last month, people about to retire will no longer be forced to buy an annuity product, opening up a range of other options. But a new study by PwC claims [...]
Institutions get a stronger hand in new issues April 14, 2014 THE PENDULUM of power in the new issues market could swing back to institutional investors this summer after a spate of companies floated so far this year sank underwater. Big name issues in London including Brit Group, Just Eat, AO World and Pets at Home have all fallen below the price they floated at in [...]
Tech stocks braced for sell-off as US results set to disappoint April 14, 2014 TECH stocks could be in for another hammering this week as nearly a tenth of the companies in the S&P 500 prepare to report what is expected to be the weakest quarter of profit growth since 2009. Analysts warn that last week’s dramatic sell off of tech, biotech and online retails stocks – that saw [...]
Economists fear official data underestimate firms’ investment April 14, 2014 BRITAIN’S official statistics do not properly measure investment in the services sector, TheCityUK and former-Bank of England policymaker Andrew Sentance warn in a report out today. Their analysis indicates research and investment, as well as investment in workers’ skills, are not properly shown in official data. “If the wrong things are being measured, or the [...]
Amazon preparing to push into your pocket April 14, 2014 FOLLOWING its move into the living room last week with the Fire TV, Amazon is reportedly going to launch a smartphone later this year capable of displaying 3D images, similar to a hologram, on its screen. The smartphone will be announced in June and start shipping in September ahead of the holiday shopping season, according [...]
Poor service in shops is costing retailers £5.4bn April 14, 2014 RETAILERS are losing out on £5.4bn of sales because of bad service in shops and not catering to the needs of ever more demanding consumers, according to a new report by Australian shopping centre giant Westfield. The retailer’s 30-page analysis released today identifies eight trends dictating UK’s changing shopping habits, including how technology and the [...]