Former Matalan boss Darren Blackhurst decides to B&Q-it January 21, 2014 DIY CHAIN B&Q said yesterday it has hired former Matalan chief executive Darren Blackhurst as commercial director as it makes further changes to its management team. The moves marks an unusual step back for Blackhurst, who was a leading contender to replace former Asda chief executive Andy Bond in 2010 and has spent two years [...]
NewRiver Retail to raise £75m for shopping spree in regions January 21, 2014 SHOPPING centre owner NewRiver Retail announced its second share placing in less than six months yesterday as it looks to continue its buying spree for more retail assets in the regions. The property company, which owns shopping centres including Regent Court in Leamington Spa and Newlands Shopping Centre in Essex, said it planned to raise [...]
Mobile giant in revenue boost January 21, 2014 CARPHONE Warehouse yesterday unveiled a 3.1 per cent like-for-like revenue increase in the third quarter. Europe’s biggest independent mobile phone retailer suffered further losses in the pre-pay phone market but managed to achieve a sixth quarter of like-for-like revenue growth. The London-listed group’s Virgin Mobile France saw revenue decline year-on-year by 15.6 per cent, reflecting [...]
Promethean revenue fall slows January 21, 2014 Shares in interactive whiteboard maker Promethean World jumped 16.6 per cent yesterday after reporting a slower pace of decline for 2013. The firm expects revenues to be down 10 per cent to £141m for the year, compared to a 29.6 per cent collapse in 2012. Promethean said that 2014 will continue in the same vein [...]
Cadbury owner adds Peltz to board January 21, 2014 Mondelez, the maker of Cadbury chocolate and Oreo cookies, added activist investor Nelson Peltz to its board yesterday in a deal that ends his campaign to have the company merge with PepsiCo. Peltz has been pushing Mondelez to sell itself to the beverage and snacks giant since the middle of last year. Shares in the [...]
Soaring Delta growth beats Street January 21, 2014 Delta Air Lines reported a higher-than-expected fourth-quarter profit yesterday, aided by lower fuel costs and higher fares. Delta, now the third-largest US airline behind the newly merged American Airlines and United Continental, said it expected margins to widen in the current period. Quarterly net income was $8.5bn, aided by an $8bn tax benefit, up from [...]
MPs grill energy chiefs on power cuts over Xmas January 21, 2014 A COMMITTEE of MPs yesterday lambasted the bosses of energy distribution network companies, after hundreds of thousands of customers were left without power over Christmas. Basil Scarsella, chief executive of UK Power Networks, which distributes energy in London and the south east of England, said that the company’s “tried and tested” plans had struggled to [...]
Rail passengers getting grumpier about delays and overcrowding January 21, 2014 RAIL passengers are complaining more about delays and crowded carriages, a national poll revealed yesterday. While 83 per cent of Britons are happy with their train trips overall, this has fallen from 85 per cent a year ago and several aspects of the journey have come in for stark criticism. Value for money is a [...]
Green Deal faces criticism with uptake of only 1,612 last year January 21, 2014 THE GOVERNMENT’S Green Deal faced another battering from its opponents yesterday, after new figures showed that just 1,612 households had taken up the energy-efficiency scheme by the end of December. Just 626 of the 1,612 measures have actually been installed, with the rest approved or pending. The initiative offers loans to households who wish to [...]
African Barrick soars on strong output figures January 21, 2014 AFRICAN Barrick Gold’s chief executive yesterday vowed to continue to drive change and cut costs, as the Tanzania-focused miner unveiled strong fourth-quarter production figures in a challenging gold market. Brad Gordon, who took on the top role at the FTSE 250-listed gold explorer last August, told City A.M. that this was the fifth consecutive quarter [...]