Stock Spirits faces shareholder showdown as top investor calls for chief executive to quit April 5, 2016 Stock Spirits Group is facing showdown with shareholders after one of its biggest investors called for the vodka maker to oust its chief executive and nominated two non-executive directors to help turn around its core Polish business. Western Gate Private Investments, which has a 9.7 per cent stake in Stock Spirits, represents the private family [...]
Moss Bros’ share price jumps as suit-seller says it’s scrubbing up well April 5, 2016 Shares in suit hire specialist and retailer Moss Bros rose by as much as eight per cent in early trading after a revamp of its stores and a sharper range of products helped deliver a 23 per cent increase in profits. Like-for-like sales rose by 8.2 per cent to £119m for the 52 weeks to 31 [...]
Koovs’ share prices leaps by a third after sales at Indian online retailer beat forecasts April 5, 2016 Koovs' share price leapt this morning after the Indian-focused online retailer said sales almost tripled last year to hit £10m for the first time. The company, which was founded four years ago by former Asos chairman Lord Waheed Alli, said sales jumped by 189 per cent to 981m Indian rupee (£10m) in the year to 31 March. Visitors to [...]
Ex-Shell boss says time “ripe” for oil majors to eye alternative energy April 5, 2016 The former boss of Royal Dutch Shell believes that the time is ripe for oil majors to invest in alternative energies. Speaking in an exclusive interview with the World Energy Council's monthly magazine, Jeroen van der Veer, who headed Shell between 2004 and 2009, said: "I think we were too early once or twice [in the [...]
Developers behind 22 Bishopsgate skyscraper win “rights to light” battle April 5, 2016 The developers behind City skyscraper 22 Bishopsgate have won a controversial battle with neighbouring landlords over the scheme blocking their "rights to light" after City planners used special powers to override opposition. Members of the City of London Corporation Planning & Transportation committee this morning voted overwhelmingly in favour of temporarily acquiring the site under a Section 237 agreement, so [...]
Europe goes shopping as prices keep dropping, but confidence may be short-lived April 5, 2016 The Eurozone was treated to a rare piece of good economic news this morning, as official figures showed households are buying 2.4 per cent more retail products than this time last year, though economists were pessimistic about how the long the feel-good factor would stick around. According to Eurostat, the EU’s official number crunchers, bumper [...]
Van “explosion” and fire closes Cornhill in the City April 5, 2016 Firefighters were rushed into the City this morning after an engine in a passing van caught fire at Cornhill. Roads leading to Cornhill were closed in both directions to pedestrians and traffic as the London Fire Brigade were called in to deal with the engine fire. We've dealt with a van fire on Cornhill in the [...]
Services sector struggles for momentum, as purchasing managers’ index points to GDP slowdown April 5, 2016 The fragility of Britain’s reliance on its mammoth services industry was laid bare this morning by the latest Markit/CIPS purchasing managers’ index (PMI), which showed growth in the sector will not be enough to translate into confidence about the wider economy. Services scored 53.7 on the bellwether index, where scores above 50 indicate expansion, rebounding from a [...]
IMF chief Christine Lagarde: Yes, global recovery is shaky – but don’t panic April 5, 2016 Christine Lagarde has warned that she is “on alert” over the shaky foundations underpinning the global economic recovery and called on politicians and central banks to make sure they are doing everything they can to promote sustainable growth. In an address to Goethe University, the managing director of the International Monetary Fund (IMF), said the [...]
Lack of homes is stopping older Londoners downsizing, according to YouGov and McCarthy & Stone poll April 4, 2016 More than one in four older Londoners feel there is a lack of homes to downsize to despite more than a third considering a move, a new study released yesterday has found. The poll, which was conducted by YouGov on behalf of retirement housebuilder McCarthy & Stone, showed that 32 per cent of adults aged [...]