Homebase snaps up former Tesco exec Echo Lu March 19, 2015 DIY chain Homebase has poaches its latest managing director from the embattled supermarket Tesco. Echo Lu, who was previously head of group business planning and insight at Tesco, will join on April 20. John Walden, chief executive of Home Retail Group, said. Echo has significant, broad-based retail experience both in the UK and the rapidly evolving [...]
Profits dive 73 per cent at Angry Birds maker Rovio, but new 3D film could lead to a second lift-off March 19, 2015 The popularity of Angry Birds has well and truly waned. Rovio Entertainment, the Finnish company behind the video game that soared to success after its launch in 2009, experienced a 73 per cent drop in operating profits to €10m (£7.2m) last year, along with a nine per cent drop in total sales. By comparison, profits [...]
European markets rise as Fed loses patience March 19, 2015 European markets rose this morning, despite last night's indication from the US Federal Reserve that it could begin to raise interest rates over the coming months. In a statement following a meeting of the Federal Open Markets Committee last night, Fed chief Janet Yellen dropped the word "patience" from the wording of her statement, indicating [...]
One chart showing how much the finance sector dominates the FTSE 100 March 19, 2015 The FTSE 100 is dominated by companies in the financial and retail sectors, with these making up 43 per cent of the UK’s top companies. There are 23 FTSE 100 companies in the financials sector – which includes 10 in insurance and five in banking. The largest of these companies is HSBC, with a market [...]
Ted Baker sales and profits driven up by strong performance in Europe and the US March 19, 2015 Ted Baker grew in its established markets last year, and expanded to new areas. The figures During the 53 weeks to 31 January, Ted Baker's retail sales rose 18.4 per cent to £306.9m, while pre-tax profits jumped to £49.5m – 20.4 per cent higher than in 2013. This exceeded the British fashion brand's expected profit [...]
Next share price falls after it cautions over year ahead March 19, 2015 The figures Next said that total sales for the year to the end of January rose seven per cent to £4bn, up from £3.7bn a year earlier. Pre-tax profit jumped 12.5 per cent to £782.2m, up from £695.2m a year earlier. This was at the upper end of expectations set in December which forecast full-year pre-tax [...]
Record results for Savills as market conditions improve across Europe and the US March 19, 2015 Savills has reported “record results” for 2014, with better market conditions aiding a return to profitability. The figures International expansion helped drive Savills' pre-tax profit up by 34 per cent to £104.3m in 2014, compared with £75.2m the year before. During the 12 months to 31 December, revenue for the London-listed property firm revenue [...]
Budget 2015: Renton Osborne goes Toryspotting March 19, 2015 Choose life. Choose a job. Choose a career. Choose a family. Choose the Tories. That was George “Renton” Osborne’s message to electorate, as he used the final Budget of this coalition to go Toryspotting. “We choose the future,” the chancellor said, in a sequence reminiscent of the opening of Ewan Macgregor’s 1996 film. ”We choose [...]
Budget 2015: A quick guide to all the key measures March 18, 2015 Chancellor delivers good news for savers and first-time buyers as he turns up heat on banks in play for votes ahead of election. UK ECONOMIC OUTLOOK ● The UK was the fastest growing economy in the G7 last year. However, the economy grew by just 0.5 per cent in the final three months of 2014, [...]
Budget 2015: Young first-time home buyers given a helping hand with Help to Buy Isa March 18, 2015 With fewer young people able to afford to buy a home, the Budget aims to help them out. Tim Wallace asks: Will it work? Can you imagine paying £22,000 for a flat? It sounds like a joke now, but it was the average price of a first-time buyer’s home in Britain in 1984. It was [...]