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 [...]
Middle Eastern visitors to London splash out the most on the city’s luxury hotels April 9, 2015 Hotel prices paid by international visitors to the UK jumped last year thanks to tourists from the Middle East paying 67 per cent more for a room than the average rate. The hotels price index (HPI), a survey by online accommodation provider Hotels.com, revealed that travellers to the UK from the region paid an average [...]
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. [...]
IMF’s Christine Lagarde on the three big risks to the global economy April 9, 2015 Christine Lagarde, managing director of the IMF, has said that the global economy risks slipping into a "new mediocre" which implies a prolonged period of low economic growth. "[The] global recovery continues, but it is moderate, and uneven," she said ahead of the release of the IMF's economic forecasts next week. The last forecasts released in [...]
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 – [...]