Volkswagen invests in Brazil November 26, 2009 Volkswagen, Europe’s largest carmaker, plans to invest up to 6.2bn reais (£2.25bn) between 2010 and 2014 in Brazil to meet growing demand for automobiles, the head of its unit in the country said yesterday. VW expects Brazil’s car sales to reach 4m units by 2014, compared with about 3m now, chairman of Brazil VW Thomas [...]
Flash the cash on a few of the nicer things in life November 26, 2009 SHOPPING season is here, but that generally means shopping for presents for other people. There’s nothing like mooching around department stores looking for expensive gifts to make you realise what extravagant things you’d really like for Christmas, but aren’t likely to get. Indulge yourself, we say. Whisper it, but there’s still going to be rather [...]
Retailers celebrate positive sales ahead of festive season November 26, 2009 THE high street is looking forward to a buoyant Christmas, after reporting the fastest sales growth in two years yesterday. Confidence among retailers has turned positive for the first time since August 2007. The CBI’s latest Distributive Trades Survey showed 40 per cent of retailers reported higher sales volumes in November compared with a year [...]
End of story for Borders November 26, 2009 BORDERS book store chain yesterday fell into adminstration and appointed insolvency and restructuring firm MCR at the eleventh hour after the firm’s adviser BDO Stoy Hayward pulled out at last minute due to a conflict of interest. BDO refused to comment. The ex-board of collapsed Woolworths recently warned that advisers should not act as administrators [...]
CITY VIEWS: IS THERE A FUTURE FOR BOOK SHOPS? November 26, 2009 KEVIN SWEET PARTNERSHIP INSURANCE“I think in regards to sales, there’s been a general increase in e-commerce because people find that it’s cheaper and more efficient than buying books instore. But often bookstores are packed because people prefer the tangible.” STEVE STRAKER CARTLIDGE MORLAND“Bookstores have something special about them that makes them irreplaceable. I think people [...]
Boost for Clinton Cards from Halloween sales phenomenon November 26, 2009 GREETING cards retailer Clinton Cards yesterday reported that its like -for-like sales for the 16 weeks to 22 November have jumped by 3.9 per cent, aided by a solid performance across all product categories and exceptional Halloween sales. Clinton Cards – which sells flowers, gifts and Halloween outfits in addition to its card selection – [...]
DSG enjoys a window of opportunity November 26, 2009 DSG International, the electricals retailer yesterday reported a recent surge in sales helped by store upgrades and consumer demand for Microsoft’s new Windows 7, giving it confidence for Christmas. DSG, which runs the Dixons, Currys and PC World chain, said sales at stores open at least a year fell four per cent in the 24 [...]
Number of shops lying empty drops as City take-up improves November 26, 2009 The number of shops lying empty in the UK’s prime retail areas has fallen for the first time this year according to property adviser Cushman & Wakefield. Central London has one of the lowest levels of availability as the capital retains its reputation as a shopping destination. But shops in the City have not fared [...]
City types head out for a slippery slurp November 26, 2009 IT WAS off to Mansion House for many in the City yesterday for the annual Guinness and Oyster Lunch, which has been a tradition in the Square Mile for nigh on half a century. New Lord Mayor Nick Anstee kicked off the proceedings with a rousing speech, swiftly followed by the face of Guinness maker [...]
Star manager Bolton heads to Asia to launch Fidelity fund November 26, 2009 FIDELITY fund guru Anthony Bolton is returning to money management next year with the launch of a new portfolio investing in China. Bolton, one of Britain’s best-known fund managers, was nicknamed the “silent assassin” for taking boardroom scalps during his outstanding 28-year run at the head of Fidelity International’s Special Situations fund. He relinquished leadership [...]