Moonpig owner is set for £500m listing in London March 10, 2014 PHOTOBOX is preparing for a London Stock Market listing that could value the photo printing group at up to £500m, after the £1.6bn flotation of online retailer AO World and upcoming flotation of Pets at Home whetted investors’ appetites for London retail stocks. The firm, which sells personalised t-shirts, mugs and cards as well as [...]
Shoppers saving up for luxuries at the expense of essential items March 10, 2014 SHOPPERS are splashing out on feel-good buys such as eating out and clothes rather than essential items as the recovery takes hold. Meanwhile spending on DIY is booming as the housing market continues to climb. Data from Barclaycard, which processes nearly half of the UK’s debit and credit transactions, found restaurant and clothing sales were [...]
Property to join milk on sale at grocer Morrison March 10, 2014 SUPERMARKET chain William Morrison is this week set to sweeten its drop in profits with a property sell-off that could raise £500m for investors. The grocery giant, which has already said its Christmas sales were disappointing, is forecast to report annual pre-tax profits of between £734m and £805m, down from £879m in 2013 and the [...]
Bottom Line: Price wars can come and go but real estate is permanent March 10, 2014 FOUR pints of milk and a warehouse near Stockton-on-Tees, please. Morrisons’ latest special offers will be welcomed by shoppers and property buyers alike, though the latter have a bit longer to enjoy the spoils of the investment. Cutting the price of everyday groceries doesn’t look like a sustainable strategy on its own for Morrisons, with [...]
Terence Conran cedes control of business to son March 10, 2014 SIR TERENCE Conran has handed over full control of his design empire to his son Jasper, to focus on his work with the Design Museum and expanding his chain of Albion cafes. The 82 year-old designer, restaurateur and founder of the Habitat brand has stepped down as chairman of Conran Holdings but will remain on [...]
Barcodes to make energy switching easier March 10, 2014 CONSUMERS could soon scan a barcode on their energy bills to hunt for better offers, after the government launched a consultation today on whether to print quick response (QR) codes on paper bills. The idea is that customers can scan the square barcodes – currently used at bus stops to find timetables and to verify [...]
MoD to name firm to run its military estate March 10, 2014 THE MINISTRY of Defence (MoD) yesterday said that it is close to announcing a preferred bidder for a £400m contract to support the management of its military estate. Three consortiums are bidding for the defence infrastructure organisation contract. One is led by beleaguered outsourcing firm Serco, which recently had a ban lifted on winning new [...]
UK reshoring set to create up to 200,000 new jobs in a decade March 10, 2014 BRITISH businesses bringing jobs back from overseas could see the creation of up to 200,000 new roles in the UK over the next decade, PwC predicted yesterday. The growing trend for reshoring jobs once outsourced overseas could boost the nation’s wealth by between 0.4 per cent and 0.8 per cent – roughly £6bn to £12bn [...]
Just six blue-chip companies have a deputy chief executive March 10, 2014 JUST SIX firms in the FTSE 100 index have deputy chief executives, leading one headhunting group to claim that the rest are missing out on valuable support for the boss and a chance to line up future leaders. “Having a deputy CEO isn’t required under any of the corporate governance codes but it is an [...]
Councils to get £140m to mend roads damaged by winter flood March 10, 2014 COUNCILS will get an extra £140m to repair roads damaged by the recent floods, transport secretary Patrick McLoughlin said yesterday. The cash will be handed to most English councils by the end of the week, in the hope that the roads can be mended in time for the summer holidays. The government distributed an extra [...]