Trader who said he was too successful wins High Court case against SocGen March 25, 2010 A FORMER banker won a court case against his old employer yesterday, France’s Société Générale, after claiming millions of pounds for being dismissed for being “too successful”. Raphael Geys, who was a managing director of European fixed income sales for SocGen, won the case at the High Court in London, but the judge did not [...]
United Utilities tipped for profit March 25, 2010 United Utilities Group, the UK’s largest listed water company, expects a good performance for the fiscal year ending 31 March due to the low cost of financing. Chief executive, Philip Green, said Britain’s largest publicly traded water company continues to benefit from a robust financing position, having headroom to cover projected financing needs through early [...]
Recession breeds loyalty March 25, 2010 More than a quarter of employees in the financial sector surveyed feel they are more loyal to their employer as a direct result of a higher level of engagement between workers and bosses. This increase in positive management, good company morale, active communication and overall improvement in the work environment are due to the economic [...]
US jobless claims fall sharply March 25, 2010 The number of US workers filing new applications for unemployment insurance fell sharply last week, while the number of those on continued benefits was the lowest since December 2008, a government report showed yesterday. Initial claims for state unemployment benefits fell 14,000 to a seasonally adjusted 442,000 in the week ended 20 March, the US [...]
Next profits up thanks to fashion sense March 25, 2010 NEXT saw profits jump by 18 per cent last year as it reacted more quickly to changes in fashion. Pre-tax profits rose to £505.3m, with sales totalling £3.41bn up from £3.27bn last year. The company said the spending drop on the high street in the recession had not been as bad as feared. Next, which [...]
High street sunshine won’t last for long March 25, 2010 RECESSION? What recession? If the sound of tills ringing at Next is anything to go by, the consumer has weathered the worst slump in 60 years remarkably well. Full-year results came in at the top end of expectations, with pre-tax profits up 18 per cent, while like-for-like sales also edged up by 0.5 per cent. [...]
Kingfisher sees revenues rise March 25, 2010 B&Q owner Kingfisher beat profit forecasts and raised its dividend yesterday – helped by a rise in sales of eco-friendly products. Pre-tax profit excluding one-off items jumped 49 per cent to £547m for the year to the end of January, above the average forecast of £543m. As well as raising its dividend for the first [...]
Ted Baker results receive a boost from Xmas trade March 25, 2010 FASHION retailer Ted Baker yesterday reported an almost ten per cent hike in annual profits. The UK firm saw pre-tax profits of £19.5m for the year until 30 January. That was up from £17.8m in the previous 12 months. Sales across Ted Baker businesses went up by 15.4 per cent to £136.5m. Founder and chief [...]
Thomas Cook bookings take off as Britons plan summer holidays abroad March 25, 2010 THOMAS Cook said yesterday it had seen a “considerable improvement” in summer holidays as sun-starved Brits booked trips abroad. Reservations shot up by 30 per cent over the past four weeks as customers rushed to escape the cold weather conditions in the UK. The holiday firm said summer trading was up across all its major [...]
Clinton cards sales rise as cost cutting pays off March 25, 2010 BRITISH greeting cards retailer Clinton Cards posted a 26 per cent rise in first-half adjusted pre-tax profit yesterday, helped by higher sales across all product categories. The firm, which put its Birthdays brand into administration last year and later bought back 196 of those stores, said it would seek the board’s approval to repurchase up [...]