Next share price slides as it warns balmy September weather “might hit profit forecast” September 30, 2014 Next shares opened four per cent lower as the retailer warned it could be forced to lower profit guidance if the "unusually warm" September weather continues. In a trading statement posted this morning, the retailer said despite "several very strong weeks" during August's dip in temperatures, September's warmer weather "had the reverse effect". It now [...]
In pictures: After the “skinny house” comes the “skinny tower” – Sao Paulo high-rise is 80ft tall, but just 13ft wide September 29, 2014 We've heard of "gap houses" – in fact, they're currently popping up in disused alleyways all over London – but what about a "gap tower block"? Triptyque, an architect with offices in France and Brazil, has created a tower block designed to fit into a narrow gap between homes in Sao Paulo. The building is [...]
Walmart goes hipster as it appoints Instagram founder Kevin Systrom to its board September 29, 2014 The world's largest retailer has come over more Walden than Walmart, after it appointed Instagram founder and chief executive Kevin Systrom to its board. The US-based supermarket, which owns Asda, said Systrom's "digital expertise will be invaluable" – so we can only presume Walmart is after his technical know-how, rather than is ability to attract beard-sporting, [...]
US consumer spending rises 0.5 per cent: Were the US’ job woes just a blip? September 29, 2014 Over the past few weeks, economic data coming out of the US has been less than encouraging, but new personal spending figures suggest those disappointments were little more than a blip. Figures from the US Commerce Department released today showed personal spending rose 0.5 per cent in August, having fallen 0.1 per cent in July, [...]
Rate-rigging scandal: Lloyds share price slides as it sacks eight people and holds back £3m of bonuses September 29, 2014 Having paid out £226m to US and UK authorities for various cases of rate-rigging back in July, Lloyds Banking Group has now turned its attentions to its own staff, firing eight and holding back £3m of bonuses. Shares in the bank fell 0.5 per cent in early afternoon trading after it said it "has taken [...]
International Coffee Day 2014: Six reasons coffee is good for your health September 29, 2014 It's International Coffee Day (or #InternationalCoffeeDay if that's the way you swing) – the annual occasion on which we all raise a mug to our morning cup of joe. But is this a marketing ploy dreamed up by Starbucks and its international coffee corporation chums (er, a bit, obviously) – or does it have a [...]
Mortgage lending falls in August for the third month in a row September 29, 2014 The number of mortgages approved fell to 64,212 in August, down from 66,100 in July, data published by the Bank of England this morning showed. The figure fell below analysts' expectations of 65,000, suggesting the housing market is cooling faster than thought. Does this mean Bank of England governor Mark Carney's Mortgage Market Review is [...]
MPs vote to begin air strikes against Islamic State in Iraq September 26, 2014 MPs have voted in favour of military intervention in Iraq against Islamic State (IS) militants. The precise wording of the motion does not mean "boots on the ground" – instead, it condemns "barbaric acts" by IS militants and acknowledges Iraq's request for assistance, meaning the UK will perform airstrikes on the IS in Iraq in [...]
Tesco’s week from hell: £250m black hole, 16 per cent fall in share price since Friday September 26, 2014 Was this the week Tesco hit rock bottom? Having discovered a huge black hole in its finances, shares have fallen from Friday's closing price of 229.6p, to a low of 191.23p in early morning trading today. That's a fall of almost 17 per cent. Here's a handy, cut-out-and-keep guide to Tesco's week from hell Monday [...]
Bill Gross quits Pimco to move to Janus Capital September 26, 2014 Legendary investor Bill Gross has quit the company he co-founded, Pimco, to go to Janus Capital, it has been reported. Gross, one of the world's leading fixed-income investors and Pimco's chief executive, will manage a Janus Global Unconstrained Bond Fund. Janus said he will start in the role on 29 September, taking on responsibility for [...]
