Carpetright warns over tough market June 29, 2010 CARPETRIGHT yesterday warned of tough market conditions despite recording a 64 per cent increase in profit. The flooring firm – traditionally seen as the first in and then the first out of recession – also said it would be offering discounts to public service workers in a bid to drum up business. Carpetright made an [...]
ANALYST VIEWS:?DO CARPETRIGHT’S FIGURES SPELL A RECOVERY? June 29, 2010 KEITH BOWMAN | HARGREAVES LANSDOWN The results provide few if any surprises. Profits have recovered in line with the economic rebound in the UK, while currency movements have provided the group’s overseas operations with a favourable tailwind. Furthermore, the group’s move to supply the insurance industry has contributed, albeit in a small fashion. PETER SMEDLEY [...]
Jacques Vert restores dividend as profit rises June 29, 2010 FASHION retailer Jacques Vert swung to a full-year pre-tax profit on higher margins and has resumed paying dividends, sending its shares up 33 per cent yesterday. The company, whose brands include Jacques Vert, Windsmoor, Planet and Precis Petite, said its retail sales for the first nine weeks of the new financial year rose 3.9 per [...]
IHG plans to double size in China market June 29, 2010 InterContinental Hotels, the world’s biggest hotelier, plans to more than double in size in China over the next five years, a move aimed at giving a major boost to its performance. The group, which operates Holiday Inn and Crowne Plaza brands as well as InterContinental,, currently runs 131 hotels in China with a further 146 [...]
BBC will cut gold-plated pension plans June 29, 2010 THE BBC hopes to plug its yawning £2bn pension deficit by introducing sweeping changes to its retirement scheme. The state broadcaster says it could save an astonishing third of the cost of its annual pension payments by introducing measures such as axing its lucrative final salary pension scheme to new employees. The scheme will remain open [...]
Amazon declares war on Apple in e-reader market June 29, 2010 AMAZON has come out all guns blazing in its war against Apple’s all conquering iPad. The Kindle reader producer yesterday slashed the price for its hand-help ebook reader in the US from $259 (£172) to $189 and reductions are expected to reach the UK soon. Amazon is reeling from news that Apple’s new device, which [...]
Google makes compromise in China battle but could still lose its licence June 29, 2010 Internet giant Google said it plans to stop automatically redirecting users of its Google.cn site to its Hong Kong page, in a bid to secure renewal of the company’s Chinese operating licence. Chief legal officer David Drummond said in a blog posting that Google would soon stop all redirecting to Google.com.hk. Google shut its Chinese [...]
BT footy prices to be revealed June 29, 2010 BT will tomorrow unveil the pricing for Premier League matches snapped up from Sky. Customers signed up to BT Vision will be able to watch Premier league games for a knock-down price after communications watchdog Ofcom ruled Sky must slash its wholesale prices for Sky Sports 1 and 2. Speculation has been building that BT [...]
Saudi telecom denies India talks June 29, 2010 Saudi Telecom Company, the Arab world’s largest telecom company by market value, has denied a report it was discussing buying a stake in an Indian telecoms tower unit. India’s Business Standard, citing sources with direct knowledge of the developments, said state-owned STC was looking to take a stake of 10 to 15 per cent in [...]
Mayer Brown ends talks with Simmons June 29, 2010 INTERNATIONAL law firm Mayer Brown has walked away from a potential merger with UK based Simmons & Simmons weeks after initial talks began. Simmons management had approached the Chicago based firm a few weeks ago with hopes to sign a deal that could have created a trans-Atlantic business with revenues over £1bn and 2,400 lawyers [...]