CBI distributive trades survey: Retail sales beat expectations in September September 29, 2015 British annual retail sales grew at a faster pace than expected in the year to September, with firms expecting business to pick up pace in the run-up to Christmas, industry research shows. Of the 119 firms surveyed by the Confederation of British Industry (CBI) distributive trades survey, 55 per cent expect sales volumes to increase [...]
Glencore facing race against time as debt concern grows and share price tumbles September 29, 2015 After more than £2bn was wiped off Glencore today, the company is facing a race against time, as investors signalled mounting concern over the size of its debts. The company's debt-laden balance sheet, coupled with persistently low copper prices, could mean Glencore is sitting on a ticking debt time-bomb. "The management have outlined a plan [...]
Comcast focuses on theme parks with purchase of Universal Studios Japan for $1.5bn September 28, 2015 US media conglomerate Comcast is spending $1.5bn (£999m) for control of the Universal Studios theme park in Osaka, Japan as it looks to expand its attractions business around the world. Read more: OMG! NBCUniversal invests $200m in Buzzfeed In what the company said was its largest ever international investment, Comcast will purchase 51 per cent of [...]
Recruitment firm Robert Half UK opens flagship office in The Shard September 28, 2015 The Shard has bagged itself another tenant after recruitment firm Robert Half UK launched a new flagship office in the skyscraper yesterday. The US-listed company, which has more than 340 offices worldwide, has taken 20,200 square feet of offices on the 10th floor of the building. It is consolidating its three London branches as well [...]
Oil firm Petroceltic wins investor injunction September 28, 2015 Oil firm Petroceltic was granted an injunction against activist investor Worldview Capital Management yesterday, blocking it from proceeding with an attempt to hold an extraordinary general meeting (EGM). The High Court of Ireland has prohibited Switzerland-based Worldview from going ahead with the meeting, which had been scheduled for 5 October. Worldview called for the EGM [...]
Hefty refurbishments leave Everyman cinemas with £430,000 loss in six months September 28, 2015 Everyman cinema group announced it made a loss of £430,000 despite a 31 per cent increase in revenues in the six months to 10 June. The premium cinema operator’s revenues were £8.16m, boosted by an increase in ticket sales and net spend per customer, but up from £6.2m in the first half of last year. [...]
Whole Foods to axe 1,500 jobs in eight weeks – but not in the UK September 28, 2015 Whole Foods, the upmarket US food chain, announced it will cut around 1,500 jobs over the next eight weeks as part of a cost-cutting drive designed to free up cash to invest in the business. The supermarket group, which has around 424 stores and employs over 80,000 people, said the cuts were designed to free [...]
Apple iPhone 6s and 6s Plus: New iPhones set “phenomenal” sales record September 28, 2015 Apple sold 13m iPhones in the debut weekend of new models iPhone 6s and 6s Plus, smashing through previous sales records. Chief executive Tim Cook described the sales rush as “phenomenal”, saying they had "blown past any previous first weekend sales results in Apple’s history". When the iPhone 6 and 6 Plus were released a [...]
Land Registry: UK house price growth in August at lowest level in two years September 28, 2015 House prices rose by 4.2 per cent year-on-year in August, according to the latest survey from Land Registry. This is the weakest annual pace since November 2013 and compares with an annual growth of 4.7 per cent in July. The average value of all properties across the UK – now £184,682 – was up 0.5 [...]
Glencore share price crashes as analysts warns on metal prices September 28, 2015 Glencore shares tumbled today after a particularly bearish note from analysts. Broker Investec questioned how much the company would be worth if metal prices fail to improve, while pointing to its high debt levels and a need for restructuring. The note sent shares in embattled commodities trader and miner shed as much as 31 per cent [...]