New Look in hot demand thanks to July weather August 13, 2013 FASHION retailer New Look yesterday said July’s heatwave helped the group get off to a “strong start” in the second quarter of the year, with skirts, dresses and swimsuits flying off the shelves. The company said that despite volatile trading in the first quarter – when the UK experienced the coldest spring for 50 years [...]
US regulator issues subpoenas over metals warehouse probe August 13, 2013 THE STATES-SIDE probe into the metals warehousing industry intensified yesterday, after it emerged that the US commodities watchdog has subpoenaed a number of firms including Swiss commodities giant Glencore. The US Commodity Futures Trading Commission (CFTC) sent the subpoenas last week, sources familiar with the matter said, after a letter from the regulator last month [...]
Brand Index: Blackberry’s new model failed to stem its brand decline August 13, 2013 THERE was a spike for BlackBerry on Twitter on Monday with 41 per cent of the UK Twitter population exposed to messages about the brand. They were of course hearing the news that the mobile phone manufacturer is setting up a committee to explore potential business model options, including selling off the company. So what [...]
Consumer sector ready for M&A spree with a £16bn warchest August 13, 2013 BRITAIN’S top 30 consumer firms are sitting on a £16bn warchest, according to research out today by Deloitte, raising the curtain for renewed mergers and acquisition (M&A) activity as confidence returns to the sector. The seven largest listed firms have amassed £13bn alone after rebuilding their balance sheets following the recession and reining back on [...]
US retail sales data points to pick up in consumer spending August 13, 2013 A GAUGE of US consumer spending rose in July at its fastest pace in seven months, a sign of quicker economic growth that could strengthen the case for the US Federal Reserve winding down its economic stimulus programme. Other data yesterday showed US small business optimism improving in July, while import prices rose less than [...]
Markel expands in Walkie Talkie August 13, 2013 Insurer Markel has taken an extra floor in the Walkie Talkie skyscraper in the City after acquiring reinsurer Alterra Capital for $3.1bn (£2bn) earlier this year. Land Securities and Canary Wharf Group, the owners of the 38-storey tower, said Markel has increased its space by nearly 50 per cent to 75,000 square feet across floors [...]
Stonegate buys The Living Room August 13, 2013 Stonegate, Britain’s largest private managed pub group, swallowed up the Living Room brand from Premium Bars & Restaurants on Monday for around £10m. Stonegate was created in 2010 when its private equity owner TDR Capital bought 330 managed pubs from Mitchells & Butlers. In 2011 it merged with Town & City Pub Company and now [...]
Stansted workers head to Acas August 13, 2013 Baggage-scanning workers at Stansted Airport are heading to dispute resolution with Acas tomorrow in an attempt to avert planned strike action over the August bank holiday. Around 40 staff, who are employed by outsourcing group Mitie and represented by the GMB union, called the strike on Monday over a backdated pay cut imposed in June. [...]
Recession may end as Europe’s industry grows August 13, 2013 THE EUROZONE’S industry recorded its first annual growth in production since late 2011 yesterday, boosting optimism that the region may have exited recession in the second quarter. Industrial production rose by 0.3 per cent between June 2012 and June 2013, another positive signal to analysts, many of who now expect data released today to show [...]
UK exporters to shift towards new markets August 13, 2013 THE UK is expected to see a boost in exports to developing economies, with firms selling more goods to fast growing countries, while trade to Europe declines. Exports in goods to many emerging markets are forecast to flourish in the next five years, audit giant EY said yesterday. EY’s research predicts that trade in [...]