Workers’ unrest at fraud probe firm CWM FX as Manchester office remains empty April 9, 2015 A police raid on its London offices has not stopped CWM from pushing ahead with plans to expand into the north of the country. However, the troubled forex trading firm’s plush new Manchester premises are now quieter than it had hoped. City A.M. understands that none of the 17 people brought in to make up the [...]
Resurrected share floats drive equity capital markets into 2015 April 9, 2015 FOUR of the 10 biggest stock market flotations in Europe so far this year were deals which failed to get off the ground last year, in a remarkable revival of their fortunes. A study out today from PwC shows that London floats made up only 28 per cent of all initial public offerings (IPOs) in Europe [...]
Mulberry’s rescue plan bears fruit: Godfrey Davis explains why its core shoppers are returning to the brand April 9, 2015 Godfrey Davis knows better than anyone who Mulberry’s loyal customers are. During his 10 years as chief executive, he successfully grew the luxury brand’s circle of followers. The allure of It-girl Alexa Chung and the handbag she inspired helped to propel the brand, and its sales, closer into the ranks of the elite luxury brands. [...]
Boots owner Walgreens reports a massive 33 per cent profit rise April 9, 2015 The owner of Boots the chemist yesterday reported a massive 33 per cent rise in profits rise in the first update since a £6bn mega-merger last year between US retailer Walgreens and the British high street icon was completed last year. Walgreens Boots Alliance reported profits of $1.2bn (£0.8bn) for the three months to the [...]
Holcim and Lafarge share prices rise as shareholders give warm welcome to new boss Eric Olsen April 9, 2015 Shares in Holcim and Lafarge climbed yesterday after they confirmed the appointment of Eric Olsen to lead the combined company after their proposed merger of equals completes. Olsen, who is currently executive vice-president, operations, at French cement maker Lafarge, was put forward for the top job after Holcim objected to the appointment of Lafarge chief [...]
Rothschild hired to advise on financing Heathrow or Gatwick airport runway expansion April 9, 2015 Investment bankers at Rothschild are working for the Department for Transport, it emerged yesterday, as officials want to work out how the Heathrow or Gatwick runway expansion could be financed. Sir Howard Davies is leading a commission looking at the different proposals to increase capacity at the airports, which each come with varying price tags. [...]
Manchester Airport cashing in on turbulence at London rivals April 9, 2015 Manchester Airport is aiming to rival London’s airports after a record number of passengers passed through its doors last year. The UK’s third largest airport dealt with 22.32m people in the last financial year, which represents growth of 7.5 per cent year-on-year and beats the previous record of 22.26m passengers in a 12-month period, set [...]
UK Gas and Oil Investments’ share price exploded today after Horse Hill oil discovery April 9, 2015 Shares in exploration company UK Oil and Gas (UKOG) exploded after the discovery of up to 100bn barrels in its oil field in Sussex. UKOG's Aim-listed shares gushed higher than an oil well – up more than 300 per cent at its highest in early trading and closing 164 per cent up for the day. [...]
Poundland-99p Stores tie-up threatened by Competition and Markets Authority April 9, 2015 Poundland's offer to buy rival 99p Stores for £55m is facing an in-depth investigation by the competition watchdog, amid concerns reduced competition will lead to reduced quality, fewer promotions and store closures. The Competition and Markets Authority (CMA) said it believes the tie-up could create "a realistic prospect of less competition" in 80 local areas – [...]
Mulberry ups profit forecast with retail sales on track and cost controls April 9, 2015 The figures A more successful second half of the year for Mulberry will help it bring in profit for the full-year ahead of expectations, citing careful cost controls as a factor. Retail revenue for the year is expected to come in one per cent higher on the previous year and overall revenue will be in [...]