London Sports Festival moves from 3×3 basketball success to pickleball at the City of London Corporation’s Guildhall Yard
KPMG: Piecemeal changes to capital rules could increase risk September 11, 2013 CHAOTIC changes to banks’ capital rules could mean that instead of ending lenders’ worries over Basel 3 regulations, the sector could be heading for another round of negotiations, KPMG said yesterday. The rules were intended to be a global plan to banking safer. But regulators from the US, EU, UK and more have tweaked the [...]
Prime Minister unveils £69m of backing for start-up businesses September 11, 2013 PRIME Minister David Cameron will today launch a £69m package of funding for government schemes to help young businesses get off the ground. The cash will allow the New Enterprise Allowance mentoring scheme to continue until the end of 2014, while there will be £34m for start-up loans to support 7,600 businesses. Start-up loans are [...]
Analyst Views: Can Kingfisher get back to growth after its latest results? September 11, 2013 KEITH BOWMAN HARGREAVES LANSDOWN The results are broadly in line with forecasts, with management, unlike the chancellor, still cautious and hesitant in proclaiming an economic recovery. Weather volatility has played a major part, whilst divergence in consumer confidence across its geographical footprint continues to impact. JAMES GRZINIC JEFFERIES There is little of surprise from [...]
Kingfisher cuts back on space to save on costs September 11, 2013 B&Q OWNER Kingfisher said yesterday it is to scale back or exit 18 of its stores across the UK as the DIY retailer looks for ways to ease its lease burden and boost profitability. Several retailers, including Topshop owner Arcadia, have been shedding stores as leases come up for renewal to reflect changes in [...]
Sports Direct smashes forecasts September 11, 2013 SPORTS DIRECT, Britain’s biggest sporting goods retailer, posted a big rise in sales yesterday as shoppers snapped up its cut-price deals and helped sustain a strong run for the shares that pushed the firm into the FTSE 100 index in this week’s reshuffle. The company, controlled by billionaire Newcastle United owner Mike Ashley, said trading [...]
Bottom Line: Hart’s turnaround plan sweetens shares September 11, 2013 AFTER a tortuous few years, things finally seem to be on the up for Thorntons. Shares may have dipped slightly yesterday but that was pure profit taking – to be expected after a 14 per cent rally earlier in the week after activist investor Crystal Amber upped its stake. Two years into his [...]
Thorntons gets taste of success as profit returns September 11, 2013 THORNTONS customers have rediscovered their sweet tooth as the chocolatier reported a return to profit yesterday, thanks to strong appetite from grocers and the launch of new products. Profit before tax and exceptional items jumped to £5.6m in the year to 29 June from £0.9m the previous year, the retailer said yesterday, beating City forecasts. [...]
Facebook hits a fresh high September 11, 2013 FACEBOOK shares rose more than three per cent to a new high yesterday, valuing the world’s largest social network at $106bn (£67bn), as investors focused on its recent mobile advertising advances ahead of a speech by its chief executive. The stock briefly hit $45.07 shortly after 2 pm on the Nasdaq – highs not seen [...]
J Crew hurt as margins drop September 11, 2013 US CLOTHING chain J Crew has seen earnings fall 21 per cent as lower margins hurt revenue growth. The chain, whose clothing is a favourite of President Barack Obama’s wife Michelle, reported a profit of $17.5m (£11.1m), down from $22m a year earlier. Revenue increased 6.4 per cent to $559.1m. However, gross margin fell to [...]
Arm boosted by Apple’s latest iPhone line up September 11, 2013 SHARES in semiconductor manufacturer Arm Holdings jumped four per cent yesterday, spurred by excitement surrounding Apple’s new smartphone lineup announced on Tuesday. Arm’s processors will be used in the new iPhone 5s that uses high end chips to power a phone with more than double the speed of the previous generation iPhone. Mike van Dulken, [...]