Charted: Coalition the first government to enjoy uninterrupted interest rates for 60 years April 10, 2015 With the Bank of England’s interest rate decision yesterday, the coalition government has become the first government for 50 years to make it through its entire time in power without interest rates being raised. The total, if you're counting, is now 74 months, after the rate was lowered from one per cent on 5 March [...]
Debenhams bolsters board with appointment of Terry Duddy as a non-executive director April 10, 2015 Debenhams is looking to bolster its board by appointing veteran retailer Terry Duddy as a non-executive director, as it tries to improve its fortunes after years of underperformance. Duddy was chief executive of the Home Retail group until March last year and is chair of the retail trust. Until 2006 he was chief of Argos, [...]
Majestic Wine share price falls after buying Naked Wines for £70m and naming Rowan Gormley chief executive April 10, 2015 Wine companies Majestic and Naked are toasting a multi-million pound deal. Majestic, Britain's largest specialist wine retailer, has bought Naked Wines, a boutique online wine seller, for £70m, combining their online and offline businesses to create a wine retailer with greater international clout. Naked founder and chief executive Rowan Gormley will take the helm of [...]
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 [...]
Wage increases gather pace as recruiters battle skills shortage April 9, 2015 Salaries for new staff rose at their fastest pace in six month in March, recruiters said today, as diving unemployment combined with strong growth to push up pay. Finance workers and engineers are in the highest demand, closely followed by executive staff. The study from the Recruitment and Employment Confederation and KPMG found that almost [...]
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 [...]
Broker warns UK house price rise could accelerate April 9, 2015 House price growth has cooled since last year’s boom, but price growth remains high and could pick up again, a mortgage broker has warned. The average UK house price was £192,970 in March, 8.1 per cent higher than a year ago, according to figures released by Halifax yesterday. A boom in house prices last year [...]