Lululemon to open first UK store February 20, 2014 Canadian clothing heavyweight Lululemon is to open its first UK store in London's Covent Garden on 28 March. That 3,100 square foot store will have separate menswear and womenswear sections. Community relations manager Amanda Casger told Drapers that Lululemon is "in the process of understanding what the [UK] market is like" and that the company [...]
Nick Clegg challenges Farage to EU debate February 20, 2014 The deputy prime minister has thrown down the gauntlet to the leader of UKIP Nigel Farage for a "public, open debate" on the UK's membership of the European Union. Speaking on his weekly LBC radio programme Nick Clegg said "If Nigel Farage is either listening or looking at this programme I hope he would take [...]
UK commercial vehicle production hit by new emission laws February 20, 2014 Dwindling EU demand, because of region-wide restructuring and emission laws, saw commercial British vehicle manufacturing fall again in January – by 14.6 per cent. In the month, 6,681 units rolled off production lines, with home and export markets seeing falls, according to the Society of Motor Manufacturers and Traders (SMMT). Chief executive Mike Hawes commented: [...]
Goldman Sachs thinks Facebook just made a great strategic play February 20, 2014 Facebook founder and chief executive Mark Zuckerberg must be feeling pretty smug this morning. He's won approval for the bold acquisition of Whatsapp from a number of analysts, and can now add leading investment bank Goldman Sachs to the list of those who thinks the move is a strategic winner. As a move, Goldman analysts [...]
January mortgage approvals up over a third from a year ago February 20, 2014 More fuel to stoke house price fear fires this morning, with added evidence that market activity started 2014 very much on the front foot. Mortgage approvals hit their highest level in six years in the final quarter of 2013, averaging 70,000. And in January, they were up 33 per cent year-on-year. According to figures from [...]
Nigerian central bank governor suspended four months before term ends February 20, 2014 The President of Nigeria Goodluck Jonathan has suspended the governor of the country's central bank Lamido Sanusi. Sanusi, who was due to end his term in June, alleged in the Financial Times last week that the massive shortfall in Nigeria's crude oil earnings were due to gross mismanagement of the country's oil wealth. Earlier this [...]
UK productivity is lagging other leading economies by the most since 1992 February 20, 2014 The UK may have finally see some signs of productivity improvements yesterday, but the economy is still mired in what must now be called a productivity crisis. The latest estimates from the Office for National Statistics show that the gap between the UK's productivity and that of other leading countries is now at its widest [...]
New orders help buoy Eurozone manufacturing and services activity February 20, 2014 Despite a boost from new orders, figures for manufacturing and services activity in the Eurozone suggests recovery is still fragile, but remains on track. Markit’s so-called flash services purchasing managers’ index (PMI), for manufacturing activity in the Eurozone, was 53 in February – expectations were for that it'd stay at 54. The services activity index [...]
BAE earnings warning sees shares plunge 10pc February 20, 2014 BAE Systems has said today that 2014 earnings per share could drop by as much as 10 per cent. Shares have dropped ten per cent on the news this morning. The firm has been hit by budgetary pressures from the US, “challenging market conditions” and the lack of the one-off lift from its Typhoon jet [...]
Rexam dividends soar in wake of rising profits February 20, 2014 Global consumer packaging company Rexam has reported a rise in profit before tax of four per cent to £372m for the full year 2013. Rexam announced that the sale of the majority of Healthcare, agreed for $805m (£482m), would see £450m of the proceeds returned to shareholders. The company's total dividend was up 14 per [...]