SuperGroup sales up 22.4 per cent – but chief executive Euan Sutherland warns over Christmas November 5, 2015 SuperDry parent company SuperGroup has reported a strong first half, but warned that Christmas could be a challenge with strong comparatives to beat. The figures The business has performed well in the first half to 24 October, with sales up 22.4 per cent across the group. The retail division drove much of the growth, up 30.9 per [...]
Morrisons third quarter results: Sales fall again but chief executive David Potts remains upbeat November 5, 2015 Sales continue to fall at troubled supermarket Morrisons – but the new team headed by David Potts are putting a brave face on the turnaround process. The figures In the 13 weeks to 1 November, total sales excluding fuel were down two per cent, while like-for-like sales dropped 2.6 per cent. The supermarket, which is at the beginning of [...]
British Chambers of Commerce: “lazy assumptions” guide MPs’ decisions November 5, 2015 A leading business group has launched an attack on prevailing wisdom in Westminster, saying that “lazy assumptions” guide government decision-making. In a new report out today, the British Chambers of Commerce (BCC) questions popular conceptions about the role of public debt, productivity, education spending, infrastructure projects, trade policies and other business-focused initiatives, saying there is [...]
Better skills are needed for better productivity, argues parliamentary report November 5, 2015 Developing skills is key to solving the UK’s productivity problem, a report published today by the government’s Education Committee and Business, Innovation and Skills Committee has argued. The paper, which features commissioned research from the National Institute of Economic and Social Research (NIESR), compares skills and productivity in the UK to that in the US, [...]
City A.M. shadow MPC votes 6-3 in favour of holding interest rates at current level November 5, 2015 City economists who enjoy poring over Bank of England data (we know who you are) will think Christmas has come early today, as Threadneedle Street publishes its latest interest rates decision, minutes from the meeting, and its quarterly inflation report. Dubbed “Super Thursday”, the hat-trick of releases should give a stronger indication of how the [...]
What’s in a name? Barclays has a knack for nomenclature November 5, 2015 There’s been a reshuffle on the boards of private wealth management consultancies this week. Head of strategy at RBC George King IV (not to be confused with British monarch King George IV) has moved to MASECO as a director. This particular King comes with some major financial credentials – he’s done stints at Barclays, Credit [...]
Best of the Brokers for 5 November 2015 November 5, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com ASSOCIATED BRITISH FOODS Shore Capital kept its “hold” rating on the group, but downgraded its retail earnings estimate for 2016. “Ordinarily, with such a full valuation being applied to activities and our expectations of the company delivering a flat to small decline [...]
Mining giants bounce back to push up FTSE 100 – London Report November 5, 2015 The FTSE 100 ended yesterday’s session slightly higher, boosted by gains in mining companies and Marks and Spencer. The UK’s blue-chip index ended the day 0.46 per cent up at 6,412 points. The day’s biggest riser was Glencore, the embattled mining giant, which has been struggling to reassure investors worried about the size of its [...]
Leadership lessons from Machiavelli: The ends only justify the means when the goal is a good one November 5, 2015 Five hundred years after it was written, Machiavelli’s treatise on monarchical rule, The Prince, is still considered essential reading for those who are ambitious and desire power. Written as guidance for Lorenzo de Medici, The Prince famously prized earthly success over moral principles. But its teachings are often misinterpreted as advocating cunning, uncompromising methods to [...]
Social rents cuts a greater benefit to the exchequer than to tenants, finds think tank IFS in new report November 5, 2015 Slashing social rents will benefit the exchequer more than tenants, research published today by think tank the Institute for Fiscal Studies (IFS) has revealed. The report, which was funded by Trust for London, found that cutting social rents – the amount charged to social housing tenants – would only increase renters’ total disposable incomes by £0.7bn. [...]