Theft costs shopkeepers £2.13bn October 19, 2005 Shoplifting and violence against shop workers reached new heights last year as store chiefs picked up a £2.13bn bill for retail crime. According to the British Retail Consortium’s annual crime survey, customer theft alone cost the retail sector £589m, a staggering 44 per cent increase from 2003. The value of losses blamed on staff also [...]
Roche shares bird flu virus October 19, 2005 Roche Pharmaceuticals has said it is willing to let other manufacturers make generic versions of its anti bird flu drug. The United Nations has warned that a bird flu pandemic could kill up to 150m people around the world. The UN’s Dr David Nabarro, who is co-ordinating the organisation’s response, said: “It’s like a combination [...]
More upheavals at Highbury House October 19, 2005 Mike Frey has left troubled magazine publisher Highbury House Communications just 18 days after his appointment as chief operating officer. In a brief statement yesterday the company, headed by former Sun editor Kelvin MacKenzie, said Frey, who had at one stage been due to take over as chief executive, had “left the company by mutual [...]
Future for Sporting Index revealed October 19, 2005 Private equity firm HgCapital’s growth plans for new charge Sporting Index include bolt-on acquisitions and gaining a foothold in key cities abroad. HgCapital head of leisure investments Ben Hewetson said: “We will be looking at acquisitions from day one. The (British) spread betting business continues to improve its performance but one of the most exciting [...]
JC Flowers seals Refco futures deal October 19, 2005 American hedge fund Refco has thrashed out a deal to sell its core futures brokerage to a consortium led by JC Flowers and has decided to put the rest of the company into Chapter 11 bankruptcy protection. The beleaguered company agreed heads of terms for a $768m (£440m) deal to sell the division yesterday. Also [...]
US suffers shock inflation increase October 19, 2005 Inflation trends differed markedly on either side of the Atlantic yesterday, with the American producer prices (PPI) confounding analysts with their biggest gain in 15 years, but Britain got off lightly with a consumer price index (CPI) level of just 2.5 per cent. The American PPI shot up by 1.9 per cent on last month, [...]
Violet Hue October 18, 2005 Tchenguiz is the last man standing in the race for Somerfield. Another one bites the dust. Amid talk of a high-street bloodbath in the run-up to Christmas, Somerfield has joined the lengthening list of retailers opting to leave the glare of the stock market. Of course, the announcement surprised no one. Somerfield has been on [...]
IT jobs growth boosts profits at Harvey Nash October 18, 2005 Harvey Nash, the recruitment specialist, revealed soaring profits yesterday, singling out the IT sector for its robustness. The company saw first half profits rise 47 per cent to £1.7m on sales of £92.7m compared to £78.9m in 2004. It also beefed up its board with the addition of two new directors. Richard Ashcroft has joined [...]
Hikma plans to float on LSE next month October 18, 2005 Jordanian pharmaceutical company Hikma became the second foreign drugs firm in a week to announce its intention to float on the London Stock Exchange. The multinational group, which specialises in generic, branded and injectable products, is to list on the main market early November with a price range of 265p to 330p, valuing it at [...]
Takeover bid for Easynet October 18, 2005 Easynet, the internet service provider, confirmed yesterday an approach by an unnamed bidder, widely believed to be BSkyB. When the London Stock Exchange opened, Easynet’s shares leaped 25 per cent on the news. The broadband operator is believed to be close to a deal with the Murdoch empire, for an offer price around £150m. It [...]