AIM-listed Gemfields announces $22.5m worth of deals in Colombian emerald mining projects September 11, 2015 Leading coloured gemstone producer Gemfields is expanding its emerald business to Latin America. The AIM-listed company said yesterday that it had acquired two new projects for mining the green gemstone in Colombia in deals worth $22.5m (£14.5m). Gemfields chief executive Ian Harebottle said yesterday that the firm was “delighted” about entering Colombia, calling it a [...]
Lidl plots London expansion drive with 280 stores September 11, 2015 German discounter Lidl is going after London middle class shoppers with plans to open a huge swathe of stores in upmarket boroughs, including Notting Hill and Mayfair. The retailer, which has been rapidly gaining market share, yesterday announced ambitious plans to open 280 stores in London and the M25 area. The areas it [...]
Next share price: Sales rise but clothing retailer warns of national living wage costs September 11, 2015 Next warned yesterday the government’s so-called national living wage – a pay rise for over-25’s currently on the minimum wage – will cost the firm £27m each year as it revealed its half-year results. The clothing chain said next year’s hike will cost the business just £2m but thereafter the increases will be much [...]
John Lewis profit dented by £60m pension charge September 11, 2015 John Lewis warned yesterday that full-year profits could be as much as 21 per cent lower on the back of pension charges and tough competition on the high street and in the grocery market. The partnership, which includes John Lewis department stores and Waitrose supermarkets, said pre-tax profits in the six months to 1 [...]
Primark opens first US store in central Boston September 11, 2015 Retail giant Primark has taken its first step into the US market, with plans to launch a total of eight stores in the region over coming months. The group opened its flagship store in Boston yesterday, having previously opened a distribution centre in Pennsylvania last week. “We have chosen the ideal location for our north [...]
Passenger numbers take off as Heathrow airport clocked up its busiest ever August September 11, 2015 Heathrow airport clocked up its busiest ever August, with 7.33m passengers passing through its gates, up four per cent on the same month in 2014. The airport said 2 August was its busiest day on record, where it helped to process more than 257,000 travellers. The trend towards larger aircraft and airlines, fighting on price [...]
Morrisons share price fall drags FTSE 100 index down after closure statement – London Report September 11, 2015 London’s leading shares fell yesterday, with supermarket Morrisons among the biggest fallers. At the end of the day, the benchmark FTSE 100 index was down by 1.18 per cent, or 73.2 points, at 6,155.81. Morrisons shares fell 2.8 per cent after the supermarket said it was closing M Local stores amid falling sales and profits. [...]
Andrew Tyrie attacks George Osborne’s bank tax surcharge as challenger bosses meet with Treasury officials September 11, 2015 Pressure is mounting on chancellor George Osborne to reconsider his new bank tax, as bosses from challenger banks meet today with Treasury officials to voice their concerns. The new tax, set to go into effect next year, will take an additional eight per cent of banks’ profits each year for the government, on top [...]
Marsh agrees to take over Jelf for nearly £260m September 11, 2015 Jelf Group confirmed late yesterday that it has reached an agreement about a proposed takeover by Marsh & McLennan Co Acquisitions (known as Marsh). Jelf said insurance broker Marsh has offered 215p a share, valuing Jelf at around £258m. Jelf shares closed down 2.6 per cent to 222.65p yesterday. The [...]
Apple and Shell’s Eurozone bond bonanza: Corporate giants set to cash in on cheaper rates and a lower euro September 11, 2015 Two mammoths of the corporate world, Apple and Shell, stepped on to a crowded bandwagon yesterday when they decided to tap the Eurozone’s bond market to raise billions of euros. More than €53bn (£39bn) have been raised using bonds – interest-paying IOUs – by US companies so far this year, according to figures from [...]