Cold weather boosts sales as shoppers buy winter wardrobe October 27, 2014 RETAILERS saw strong sales growth in the year to October after cooling temperatures prompted delayed purchases of winter clothes. Figures released by the Confederation of British Industry (CBI) yesterday show 48 per cent of retailers reported a rise in sales volumes in the year to October compared to 17 per cent who said they fell. [...]
Marussia becomes latest Formula One team to enter administration October 27, 2014 Formula One team Marussia has become the latest to be placed into administration, following Caterham, which entered administration on Friday. London-based FRP Advisory has taken on the job of assessing and finding a buyer for the struggling team. Marussia will miss this weekend’s United States Grand Prix in Austin, the group confirmed. In a statement [...]
Topshop comes over all destiny‘s styled October 27, 2014 Sir Philip Green and popstar Beyonce are to embark on a joint venture producing a global athletic streetwear collection under a company called Parkwood Topshop Athletic. The brand, which will include clothing and footwear, will be launching in the later half of 2015.
Flybe returns to London with new city routes October 27, 2014 Flybe launched its first service to London City Airport yesterday, aiming to connect the regions with the heart of London’s financial district, just over a year after it left Gatwick during its restructuring. Chief executive Saad Hammad told City A.M. that he expects the six new routes – which will see the City connected with [...]
Profits up after Citizens Bank’s market flotation October 27, 2014 CITIZENS bank reported healthy profit growth yesterday in its first set of quarterly results since RBS sold off a 25 per cent stake in the US retail lender. Net income came in at $189m (£117m) for the three-month period, up 31 per cent on the $144m in the same quarter of 2013. Revenues were up [...]
Investment boss Abberley takes over as Charles Stanley’s chief October 27, 2014 CHARLES Stanley yesterday promoted chief investment officer Paul Abberley to the role of chief executive. The top job became vacant last month when new EU rules forced chairman Sir David Howard to relinquish his executive role – the Capital Requirement Directive argues the chairman should oversee the executives, rather than holding both jobs at once. [...]
Dennis Holt hired as Co-op Bank chairman October 27, 2014 THE CO-OP Bank yesterday promoted Dennis Holt to become chairman of its board, after eight months as a senior non-executive at the troubled finance firm. Holt’s appointment comes after a tumultuous 18 months in which the Co-op Bank dropped out of its bid to buy 632 Lloyds branches, discovered a major capital hole, brought in [...]
Mortgage firm braves a stock market debut October 27, 2014 The Mortgage Advice Bureau (MAB) wants to float on the Alternative Investment Market (Aim), yesterday announcing its plans to go public. It comes after challenger bank Aldermore scrapped its initial public offering, blaming poor market conditions, and Virgin Money postponed its attempted stock market debut. But the brokerage has not been dissuaded by the flow of [...]
Ex-Stobart boss back at the controls October 27, 2014 A NEW investment vehicle led by ex-Stobart boss Avril Palmer-Baunack and backed by blue chip investors braved choppy markets yesterday to announce a float of the business. Haversham, a specialist vehicle set up by executive chairman Palmer-Baunack and investment firm Marwyn, said investors from Invesco, Artemis, Aviva and Schroders will support the share placing, which [...]
Bidding begins as Salamander courts rival duo October 27, 2014 LONDON-LISTED Salamander Energy yesterday confirmed that it has received a conditional proposal from Ophir Energy with respect to a potential offer for the company. Salamander has also been approached by a consortium led by Spanish firm Compania Espanola de Petroleos (Cepsa) and Jynwel Capital. Asia-focused exploration firm Salamander said that it is seeking to clarify [...]