Burberry on track to open new stores May 26, 2010 BURBERRY is stepping up its expansion plans after a surge in profits. The fashion house – famous for its check designs – said yesterday it will open between 20 and 30 stores this year as it posted pre-tax profits of £215m for the 12 months to the end of March. That was up 23 per [...]
AB InBev to sell Bass as it puts focus on lager brands May 26, 2010 BASS has been put up for sale by its owner Anheuser-Busch (AB) InBev, the world’s biggest brewer. The estimated price tag of the beer, which was once Britain’s most popular, is between £10m and £15m. The sale of Bass could be followed by other small British brands including Boddingtons and Flowers. AB InBev, created through [...]
Eurotunnel ad banned for boast that weather will not stop trains May 26, 2010 A EUROTUNNEL advert claiming the service runs in any weather has been banned by advertising watchdogs after a complaint from a passenger who was left stranded when snow halted services in December. The email promotion had the headline: “France in just 35 minutes”, adding: “Whatever the weather.” One person who received the email, who spent [...]
Fresh Ocado deal boosts plans to float May 26, 2010 OCADO has struck a new 10-year partnership deal with Waitrose – strengthening its position as it presses ahead with plans to float. The two firms said yesterday they had sealed a deal under which Ocado will be able to continue selling Waitrose products until September 2020. A previous agreement had been due to expire in [...]
William Hill stops French online betting May 26, 2010 WILLIAM Hill said yesterday it would stop accepting online gambling business from clients in France following the introduction of new gambling laws in the country. The shake-up has lead to a review as to whether to make the move permanent. The firm said: “In conjunction with the changes to the regulatory regime in France, William [...]
Hogg Robinson in 15pc profit surge May 26, 2010 CORPORATE travel firm Hogg Robinson posted a 15 per cent rise in full-year adjusted pre-tax profit on higher margins yesterday and said it expected an increase in travel activity from its existing clients in the coming months. The company said it expected client revenues for April and May to be similar to 2009, despite the [...]
Foster’s says beer and wine do not go together May 26, 2010 AUSTRALIA’S largest brewer Foster’s is to split its struggling wine arm from its beer section, it announced yesterday. The firm expanded into wine in 1996 when it bought the Miliaria Blass brand. The business now includes Southcorp with its Penfolds and Lindemans brands. Foster’s wine business is the world’s second largest after Constellation Brands. However, [...]
DYSON CLEANS UP WITH RECORD PROFIT May 26, 2010 DYSON yesterday said it recorded a record annual profit – fuelled by booming sales of the company’s vacuum cleaners – shown above with founder James Dyson. Turnover in 2009 rose 23 per cent to £770m while operating profit more than doubled to £190m. The company said it was planning to hire another 350 engineers, and [...]
Profit doubles as Montreal Bank shines May 26, 2010 BANK of Montreal (BMO) said yesterday profit doubled in the second quarter as wealth management and capital markets surged and the bank set aside less money to cover bad loans. The higher-than-expected result kicked off Canada’s bank earnings season with a bang. It was the fifth straight quarter of higher revenues and net income for [...]
CITY MOVES | WHO’S SWITCHING JOBS May 26, 2010 Otkritie Securities Otkritie, the UK subsidiary of Russian financial services giant Otkritie Financial Corporation, has appointed Howard Snell as chairman. Snell joined the broker last year as an executive director, having previously been UK chief executive of Russian investment bank Troika Dialog. He was also previously co-head of the London emerging markets desk at UBS, [...]
