JJB Sports shares dive on cash call July 6, 2009 JJB SPORTS yesterday suffered a 25 per cent plunge in its share price to 23p after investors were rattled by a confirmation of a £50m rights issue and a controversial row involving executive chairman Sir David Jones. The ailing sportswear chain yesterday said it is looking to raise working capital in a placing and open [...]
Coffee Republic hit by the daily grind July 6, 2009 COFFEE Republic yesterday suspended its shares “pending clarification” of its financial situation, with administrators waiting in the wings. Last week, the group placed one of its subsidiaries into administration and called in restructuring advisers from law firm Osborne Clarke. The company, which was founded by Bobby Hashemi, suffered a £527,000 loss in the six months [...]
June is a bumper month for Ryanair and EasyJet July 6, 2009 BUDGET airlines Ryanair and EasyJet yesterday said they had recorded year-on-year passenger increases after an exodus of passengers from premium rival British Airways (BA). Figures for June showed that Ryanair carried more passengers than ever before, with 5.8m people using the Irish airline. This represents a 13 per cent increase on passenger traffic from a [...]
WILL JJB SPORTS BE ABLE TO RECOVER FROM THIS SET BACK? July 6, 2009 NICK BUBB PALI INTERNATIONALNews of the deeply discounted rights issue has obviously hit the group. I’m not too surprised by that. JJB’s rival Sports Direct reports trading figures next week and this ‘loan leak’ is designed to hurt Sir David Jones’ reputation and therefore hurt JJB’s abilitiy to raise money and fight back – it’s [...]
CBI’s low-paid ‘limbo’ unlikely July 6, 2009 Richard Nicolle, employment partner at legal giant Denton Wilde Sapte, says the CBI’s proposals of an “Alternative to Redundancy” scheme are unlikely to be taken up by the government. He said the plans are “unlikely to come to fruition” as policymakers will resist any measures that could boost the UK’s unemployment figures. The CBI last [...]
Facebook to make billions by 2014 July 6, 2009 Social networking giant Facebook will likely be posting billions of dollars in revenue in five years, up from about $500m (£308m) this year, according to Silicon Valley entrepreneur Marc Andreessen who sits on the website’s board. Andreessen said the world’s most popular online social network could pile up $1bn in revenue this year if it [...]
CIC may have giant Madoff losses July 6, 2009 French police have opened a preliminary investigation after an allegation by French bank CIC that it has fallen victim to the $65bn fraud committed by “Ponzi” mastermind Bernard Madoff, the public prosecutor’s office said yesterday. CIC, part of mutually owned French bank Credit Mutuel, has said it lost several million dollars as a result of [...]
CARIBBEAN HOLIDAY WINNER IS REVEALED July 6, 2009 A HUGE thank you to all who replied to our online reader survey last week, when you logged on to the website in your droves to give us feedback and suggestions for the paper. Everyone who participated was entered into a fantastic prize draw to win a holiday for two at the Royal Plantation Ochos [...]
FTSE 100 slips below 4,200 but defensives stay afloat July 6, 2009 THE FTSE 100 fell one per cent yesterday to close 41.37 points down at 4,194.91, on concerns about the global economic outlook, with heavyweight oils, miners and banks leading the market lower, after it gained 0.1 per cent on Friday. The index fell through the 4,200 level for the first time since late April. It [...]
US rises on health and food stocks July 6, 2009 THE Dow industrials rose and the S&P 500 rebounded in late trading yesterday as investors’ concerns about the strength of an economic recovery triggered a move into defensive stocks. But the technology-heavy Nasdaq slipped as investors rotated out of the tech sector, which is viewed as more reliant on the economic cycle. A series of [...]
