Coca-Cola looks to put fizz into Boris Bikes October 14, 2014 Coca-Cola could replace Barclays as the main sponsor of London’s Boris Bikes in a deal at an annual cost of at least £5.5m, according to Sky News. A Coca-Cola spokesperson said: “We are always looking at partnerships which are a good fit for our brands.”
Oil prices slide to four-year low as Opec digs in October 14, 2014 Brent crude slid below $85 yesterday, marking a four-year low for the commodity, after the International Energy Agency (IEA) predicted that oil demand would expand slower this year than it had since 2009. In its oil market report for October, the stated that the Organisation of the Petroleum Exporting Countries’ (Opec) crude oil output [...]
Russia pulls bond sale after rouble sinks and sanctions bite October 14, 2014 Russia was forced to pull a bond sale yesterday as its currency sank to a record new low and sanctions against the government, over continued intervention in Ukraine, began to bite. The country pulled the plug on a planned auction, the first in a month, as it continued to struggle with the impact of international [...]
Hailo app says goodbye to US October 14, 2014 LONDON-based taxi app Hailo will pull out of the North American market as competition between rivals such as Uber and Lyft intensifies in the region. The company, which partners with local taxi firms as opposed to competing with them like Uber, confirmed last night it would instead focus its expansion on new cities in Europe [...]
Royal Mail sells Paddington site for £111m October 14, 2014 ROYAL MAIL, led by Moya Greene (pictured above), has sold its mail centre at Paddington to Singaporean property firm Great Western Developments for £111m. The first site to be sold off since the group floated, it will be remodelled into luxury homes, hopefully larger than stamps.
Burberry sales jump despite tough market October 14, 2014 BURBERRY warned yesterday that conditions in some of its markets, including China, were getting tougher, despite a 14 per cent increase in first-half sales, sending shares down almost four per cent. The luxury group said total revenues reached £1.1bn in the six months to 30 September, thanks to strong performance across all regions. However, it [...]
Profit warning puts thorn in Mulberry October 14, 2014 MULBERRY shares were looking the worse for wear yesterday after the troubled luxury leather goods group issued yet another profit warning. The English luxury brand has been attempting to turn itself around following an ill-fated attempt to move the brand upmarket under previous chief executive Bruno Guillon. But in a statement yesterday, Mulberry warned that [...]
Boohoo claims credit for online market success October 14, 2014 BOOHOO co-chief executive Carol Kane said the online fashion retailer’s success and recent IPO had acted as a wake-up call for other high street stores to improve their own online businesses, as it posted a jump in sales yesterday. Boohoo made its successful debut on Aim in March, with a market value of £560m, just [...]
Luxottica founder Leonardo Del Vecchio takes charge as second chief executive Enrico Cavatorta steps down October 14, 2014 Luxottica chairman Leonardo Del Vecchio has taken control of the running of the company he founded half a century ago after losing its second chief executive in six weeks. The Ray-Ban owner announced on Sunday that Enrico Cavatorta was quitting just over a month after the surprise exit of his predecessor Andrea Guerra. Cavatorta and [...]
Carpetright stays on track to meet expectations after a frayed year October 14, 2014 CARPETRIGHT cheered the market yesterday after posting a seven per cent rise in like-for-like sales in its first quarter under the leadership of new chief executive Wilf Walsh. The retailer has had a tough year after suffering several profit warnings and losing its previous chief executive Darren Shapland last October. In June, its founder Lord [...]