PwC partners take to the stage at Sadler’s Wells for its panto January 23, 2014 THE CAPITALIST ventured up to Sadler’s Wells Peacock Theatre for the PwC panto, Cinderella, last night, and before you say it – “oh yes I did.” It’s the 28th year the firm has put on the show, which stars people from across the firm including several cameos from partners, all in the name of charity. [...]
Crossrail is hailed for being on track even with funding setbacks January 23, 2014 CROSSRAIL has been praised for sticking to its budget and overall schedule by the National Audit Office, despite a smaller-than-expected contribution from the private sector. With the £14.8bn railway across London now half-built, the spending watchdog said Crossrail was set to provide good value for money. “The sponsors and Crossrail Limited have so far done [...]
Record sales lift Poundland float prospects January 23, 2014 POUNDLAND has boasted record sales over the key Christmas trading period, further paving the way for a potential initial public offering (IPO), expected to take place within the coming months. The bargain chain, which plans to double its UK presence over the next decade, said new shop openings helped sales rise more than 12.4 per [...]
London Stock Exchange prospers after bull run for equity markets January 23, 2014 THE LONDON Stock Exchange (LSE) posted a 48 per cent rise in third-quarter income yesterday, thanks to a near doubling of equity and debt issuance and an improved performance in its core securities-trading business. Income for the three months through December rose to £308.9m from £208.9m the previous year. The figure includes a £6.9m gain [...]
Cadbury’s gets £75m to spend on Bournville January 23, 2014 THE US owner of iconic British chocolate maker Cadbury’s yesterday unveiled a £75m investment in the company’s historic Bournville plant. Mondelez International, which houses the food brands of US cheese giant Kraft, said it was willing to put the money into Bournville to help update the production of so-called assortments – the chocolate it makes [...]
FirstGroup defends its turnaround strategies January 23, 2014 FIRSTGROUP, the bus and rail company fending off an activist investor’s break-up calls, has reassured shareholders that its turnaround plans are on course. The company told investors yesterday that it aims to increase its revenues faster than the broader growth in the economy by bidding for new work and investing in services. This goal excludes [...]
Nokia’s handset sales dip ahead of Microsoft sale January 23, 2014 NOKIA’S handset division slumped during the fourth quarter with sales of €2.6bn (£2.1bn), down five per cent on the previous quarter, ahead of the division’s upcoming sale to Microsoft during the first quarter of 2014. The news sent shares down more than 10 per cent in Helsinki yesterday. During a call with analysts the company [...]
Ex-Credit Suisse banker Kilsby named as new Shire chairman January 23, 2014 FORMER Credit Suisse banker Susan Kilsby will become the second female chairman of a FTSE 100 company, after drug manufacturer Shire unveiled her appointment yesterday. Kilsby, who is currently chairman of Shire’s audit, compliance and risk committee, will take over from Matthew Emmens, effective from 29 April. She worked at the Swiss investment bank for [...]
McDonald’s revenues turn sour January 23, 2014 CONSUMERS lost their appetite for McDonald’s hamburgers and fries in the fourth quarter as the fast food giant revealed weaker-than-expected sales at restaurants open more than a year. Global like-for-like sales fell by 0.1 per cent in the three months to the end of December, the group said yesterday, as fewer people passed through its [...]
TfL staff volunteering as Tube ambassadors during strikes January 23, 2014 TRANSPORT for London (TfL) is drafting in trained volunteers from its back offices to man the stations as “ambassadors” during next month’s strikes. Around 1,000 TfL staff, from accountants to former drivers, have offered to lend a hand to passengers during the RMT walkouts on 4-5 and 11-12 February. Volunteers working beyond the ticket barriers, [...]