After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Poundland says it is on track to meet profit expectations despite accelerating like-for-like sales fall April 14, 2016 Poundland believes it is on track to meet profit expectations despite its like-for-like sales fall accelerating. The figures In the year to 27 March 2016, like-for-like sales decreased by 3.9 per cent. The fall was steeper – 4.9 per cent – in the second half of the year. In the fourth quarter, Poundland reported a sales [...]
Burberry’s share price drops as luxury brand warns on outlook April 14, 2016 Burberry's share price fell more than six per cent this morning after revealing sales had dipped in the second half, while warning about challenges coming in the full year ahead. The figures Total revenue at the luxury brand fell one per cent in the six months to 31 March, down to £1.4bn. Comparable sales dropped two per cent, [...]
Debenhams’s share price rises as chief executive Michael Sharp formally resigns – but there’s no sign of a successor just yet April 14, 2016 Debenhams' share price climbed 3.4 per cent this morning as it revealed half-year growth while confirming it is "well advanced" in finding a new chief executive. Michael Sharp today submitted his resignation to the board, Debenhams said. It was originally announced that he planned to step down in October last year, but today's move takes that process [...]
JD Sports’ share price climbs as it posts another set of record results as profits soar April 14, 2016 JD Sports Fashion is showing rival Sports Direct how to do it: sales and profit have soared to record highs in the full year, with pre-tax profits leaping 45 per cent. The figures Sales at the group rose 20 per cent to £1.8bn in the year to 31 January, while profit before tax jumped to [...]
We’re a city of time wasters; 70 per cent of London millennials haven’t done anything exciting with their lives, according to the British Army Reserve April 14, 2016 Millennials are just a bunch of time-wasters, according to new research. Over 65 per cent of 18-35 year olds in London say they waste at least some their spare time, while more than one in ten millennials admit to spending almost a full day each week on social media and gaming. Each typical working day, the [...]
City Moves for 14 April 2016 | Who’s switching jobs April 14, 2016 London Stock Exchange Group David Harris has been appointed into the newly created role of group head of sustainable business at London Stock Exchange Group. He will be responsible for ensuring that sustainability is integrated into activities group-wide, and will also continue as ESG Director at FTSE Russell. David has 15 years’ experience of working [...]
US presidential election 2016: Donald Trump would be worse for deals activity than Hillary Clinton and Bernie Sanders, survey of 1,500 M&A bankers finds April 14, 2016 Mergers and acquisitions (M&A) bankers are more worried about the prospect of Donald Trump than Bernie Sanders, a self-described socialist. Some 62 per cent of 1,500 M&A banking professionals worldwide believe Trump, the Republican frontrunner, would have a negative impact on activity in their area. Read more: Donald threat trumps Brexit, fund manager tells investors This [...]
London’s biggest banks will struggle to reach sustained profitability due to bad debts and regulatory fines, IMF and KPMG warn April 14, 2016 A toxic mix of bad debts and regulatory fines will see some of London’s biggest banks struggle to reach sustained profitability, according to two major new reports from the International Monetary Fund (IMF) and KPMG. The hard-hitting reports have prompted city analysts to predict looming job cuts in the Square Mile and Canary Wharf, while [...]
Brace yourself: Brexit could put 100,000 financial services jobs on the line, a report out today has found April 14, 2016 A vote to leave the EU on 23 June could put at risk thousands of financial services jobs, as businesses delay investment or funnel it into cities overseas, a report out today warns. The report, which was commissioned by TheCityUK and carried out by PwC, discovered that up to 100,000 jobs could be lost from the [...]
UK business optimism shattered by “potent combination” of global threats and fears of Brexit April 14, 2016 Confidence among Britain’s businesses slumped in the first quarter of the year, plummeting by the sharpest level anywhere in Europe, according to new research out today. A “potent combination of fragile financial markets, volatility in oil prices, concerns over terrorist attacks and regional issues including the prospect of a Brexit and the US presidential race” [...]