Marriott International share price up as profit rockets by 20pc October 28, 2014 Marriott International, operator of the Ritz-Carlton and Renaissance hotel chains, yesterday reported a 20 per cent rise in quarterly profit, helped by higher room rates and occupancy in North America. The company’s net income rose to $192m (£119m), or 65 cents per share, in the third quarter ended 30 September, from $160m, or 52 cents [...]
Disappointing results for cinema chain AMC after weak summer October 28, 2014 Cinema giant AMC posted disappointing third-quarter results last night, following a slow summer for the film and entertainment industry in America. The chain revealed that net income dropped 78 per cent in the latter part of this year, from $33.9m (£21m) in the three months ending 30 September 2013 to just $7.4m for the same [...]
Battersea Power Station gets boost from £1.35bn syndicated debt facility and more sets of boots October 28, 2014 The Malaysian housing minister, Abdul Rahman Dahlan, led a group of visiting bankers from his country in donning steel toe boots, hard hats and goggles yesterday, as the group made their way up to Battersea Power Station’s Control Room, via some nerve-wracking metal stairs, to sign the closure of a £1.35bn syndicated debt facility to [...]
Women of the Future awards: KPMG partner Claire Angell takes prize October 28, 2014 Pioneering female business stars gathered at the Hilton, Park Lane last night for the annual Women of the Future awards, joining secretary for education Nikki Morgan and Dragons’ Den star Kelly Hoppen. There were many City and London names in the running, but Claire Angell, director at KPMG took the professional award, as one of [...]
Workplace worries may knock the UK recovery off track – Brand Index October 28, 2014 THE UK’S economic growth slowed down in the third quarter of the year – and while still strong, there are fears that the recovery could lose momentum. Worryingly, our latest YouGov/Cebr household economic activity tracker suggests that this cooling of the recovery has continued into the current quarter and may set the tone for a [...]
US consumer confidence hits seven-year high October 28, 2014 AMERICAN consumer confidence shot up to a seven-year high this month, according to an industry survey published yesterday. With Thanksgiving and Christmas coming up in the next couple of months, the Conference Board’s findings will provide a boost to retailers across the pond. Respondents to the survey were more optimistic about both the US jobs [...]
Italian business morale rebounds October 28, 2014 ITALIAN business confidence took an unexpected upturn in October, with all surveyed sectors expressing renewed optimism. The overall business climate index rose to 89.3 from 86.9, according to data published yesterday by Italy’s national statistics office Istat – 100 marks the 2005 level. The overall increase was the result of a broad-based rise in sentiment [...]
Capital worries force Teg Group to suspend trading on Aim October 28, 2014 Green technology firm Teg Group yesterday requested suspension of its shares from trading on Aim as the company sought to clarify its financial position. The group made the decision to halt trading after failing to reach an agreement with engineering group Costain over the release of £2.8m owed in respect of its Greater Manchester Waste [...]
Utilitywise share price up as sales rise 93 per cent October 28, 2014 Independent cost management firm Utilitywise almost doubled its revenue in the 2014 financial year, with a 93 per cent jump from £25.3m to £48.6m. The consultancy also saw profit before tax climb to £13.1m, up by 76 per cent on the £7.4m posted in 2013, although this excluded acquisition costs of £100,000. The company purchased [...]
Coats owner Guinness Peat is unravelled by pullover pain as shoppers shun knitwear October 28, 2014 Shoppers shunning chunky knitwear sparked a sales decline at Coats’ clothing division last quarter, leaving group sales growth at zero per cent. Guinness Peat, the listed vehicle which owns Coats, reported a 10 per cent fall in like-for-like sales at fashion unit Craft for the three months ending 27 October . Guinness Peat blamed the [...]