Nomura wins employment tribunal discrimination battle April 13, 2010 NOMURA has won an employment tribunal battle launched against it by two former employees who claimed they were dismissed unfairly and alleged they suffered from sexual and racial abuse while at the bank. The Japanese bank was first hauled into the London Central employment tribunal in November last year, after former employees Maureen Murphy and [...]
Twitter runs first site ads April 13, 2010 TWITTER ran the first advert on its $1bn valued site yesterday, heralding the next phase in its business model. The site will show ads from companies including Starbucks, Virgin America, Sony Pictures and Red Bull. The advertising programme branded “Promoted Tweets” will be rolled out to up to ten per cent of users this week. [...]
Hoodless deal in doubt as Astaire reveals debt hole April 13, 2010 A SHADOW has been cast over fast-growing stockbroker Astaire’s latest acquisition, after the firm yesterday revealed it had discovered a yawning hole in the finances of its retail subsidiary Rowan Dartington. Astaire, which was renamed last year after Evolve Capital’s ambitious chief Edward Vandyk took over Blue Oar Securities, said it had become aware of [...]
Tower 42 is put on sale for £300m April 13, 2010 TOWER 42, the city of London’s first skyscraper, has been put on sale by its owners for £300m. After 12 years of ownership, Blackrock and Hermes want to “cash in” on the resurgence in London’s commercial property market. A shortage of office space and the weak pound has sent prices for high-end property in central [...]
INM benefits from Indie sale April 13, 2010 Independent News & Media, the Irish based company which sold its flagship Independent newspaper to Russian ex-KGB man Alexander Lebedev earlier this month, has seen a renewed interest in its shares since it parted with the loss making paper. Based on a positive report by Deutsche Bank its share price has risen from its historic [...]
Beatty wins £95m BSF contract April 13, 2010 Balfour Beatty has beaten rival Kier Group to the £95m Building Schools for the Future (BSF) contract in Hartlepool. The infrastructure group said it had been awarded the contract by Hartlepool borough council to rebuild and replace six schools over the next five years. The first school construction project begins this summer and finishes in [...]
PROPERTY BARONS PAY TRIBUTE TO THEIR SAGE April 13, 2010 IT WAS a hop, a skip and a jump over to the Dorchester yesterday lunchtime for the slap-up annual lunch hosted by Gerald Ronson, the seasoned chief of property group Heron International. Ronson’s list of invitees reads like a who’s who of the upper echelons of property and high finance, including ex-Lloyds chair Sir Victor [...]
Debenhams profits up but refit hits sales April 13, 2010 DEBENHAMS posted a profits rise yesterday but sales only rose slightly – as a massive store revamp scheme took its toll.? The store posted half-year profits before tax and exceptional items of £123.6m – a rise of 18.6 per cent. The chain is refurbishing stores as part of its move away from concessions towards more [...]
LVMH says luxury back in fashion April 13, 2010 LVMH, the world’s biggest luxury goods firm, has said consumers are starting to splash out on luxury goods again. The group reported a 13 per cent rise in like-for-like sales in the three months to 31 March fuelled by strong figures in the US and Europe. The Paris-based maker of Louis Vuitton handbags, Hennessy cognac, [...]
ANALYST VIEWS: WHAT DO YOU MAKE OF DEBENHAMS’ RESULTS? April 13, 2010 CAROLINE GULLIVER | EXECUTION NOBLE “Debenhams has reported strong preliminary results: underlying profit-before-tax of £120.5m is ahead of consensus expectations of £115m, but more in-line with our estimate of £119m.” TONY SHIRET | CREDIT SUISSE “These figures are just the same old, same old. We would like to have seen more evidence of like-for-like growth. [...]