After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Housebuilders are still a risky bet February 24, 2010 DURING his election campaign, President Barack Obama told voters that America could “build itself out of recession”. That’s just what the housebuilders are hoping they can do. Barratt Developments was putting a brave face on it yesterday, as it reported higher operating margins and strong forward sales. Galliford Try and Kier Group were also cheery. [...]
Diageo in spat with Bacardi over rum February 24, 2010 DRINKS giant Diageo has accused rival Bacardi of trying to drive its Captain Morgan rum production out of the United States in order to protect its own rum subsidies from the Puerto Rican government. The company claimed Bacardi is leading a “hidden campaign” to hound Diageo’s Captain Morgan rum production out of the US Virgin [...]
BURBERRY BUCKS THE WINTER BLUES February 24, 2010 BURBERRY Group chief executive officer Angela Ahrendts yesterday said demand for the retailer’s luxury items was still strong and showing “no signs of slowing down” in Hong Kong and the UK. Speaking at the retailer’s autumn/spring fashion show during London Fashion Week, she gave an upbeat analysis of the group’s performance.
Starbucks bags motorway deal February 24, 2010 Starbucks has sealed a deal to open 29 new outlets at Welcome Break motorway service stations. Welcome Break will spend up to £10m on re-branding Coffee Primo shops. Oxford Services on the M40 and Hopwood Park on the M42 will open before Easter with the rest due to be in business within the next 16 [...]
House of Fraser to open first stores overseas with Middle East expansion February 24, 2010 HOUSE of Fraser is to expand into the Middle East as the retailer attempts to cash in on the popularity of designer brands in the region. The chain could open its first new stores in spring 2012 after sealing a deal with Retail Arabia International. It has 62 stores in the UK and Ireland and [...]
Labour’s top brass present united front February 24, 2010 THE high command of the Labour party tried to present a united front yesterday, after Alistair Darling admitted that Number 10 had briefed against him. Gordon Brown “unleashed the forces of hell” on his chancellor back in 2008 because he predicted the world was facing the worst recession for sixty years, Darling said in a [...]
TORIES WANT AUTUMN CUTS February 24, 2010 SHADOW chancellor George Osborne yesterday laid out his strategy to cut the UK’s £178bn deficit should the Tories win the general election, with public sector spending and key government departments likely to face deep cuts. Osborne delivered the annual Mais lecture in the City and warned that financial markets will panic unless a “credible” plan [...]
Dark days remain for Reuters February 24, 2010 THOMSON Reuters’ fourth-quarter profits plummeted 68 per cent amid tough trading conditions. Profits were down to just $182m (£118m). Excluding costs related to the merger with Thomson, profits declined 16 per cent to $661m. Revenue was down one per cent to $3.36bn. Results for the year saw revenue remain steady on 2008 figures while underlying [...]
EU-wide maternity plans would cost Britain £2bn February 24, 2010 CONTROVERSIAL plans to introduce a Europe-wide standard on maternity leave would cost Britain £2bn per year, business leaders warn. MEPs have backed a minimum period of 18 weeks’ maternity leave on full pay, a huge extension of the six weeks currently available at 90 per cent pay in the UK. Labour ministers were urged not [...]
GM Hummer deal collapses February 24, 2010 General Motors is to wind down operations of its Hummer vehicles – after failing to complete a planned takeover by a Chinese firm. GM agreed to sell the brand last year, as it offloaded famous names it owned and went into bankruptcy protection. It said it was “disappointed” that the deal could not be completed. The [...]