All that Glitters is not Gold for Tiffany’s January 12, 2015 WEAKER than expected festive holiday sales caused US-based jeweller Tiffany & Co to cut its profit forecast yesterday. The company said it now expects an adjusted profit of $4.15-$4.20 per share in the year ending 31 January, down from $4.20-$4.30 prior.
HSS Hire IPO: Equipment rental company tools up for float with retail offer January 12, 2015 The equipment hire firm is banking on UK economic growth. Equipment rental company HSS Hire yesterday started the engine on a £103m float aimed at selling a quarter of the company’s stake and reducing its £200m debt pile. The listing, like that of the Trainline.com, announced last week, will include a retail offering to [...]
Taylor Wimpey confident on 2015 housing market outlook January 12, 2015 HOUSEBUILDING company Taylor Wimpey has said it is encouraged by more balanced market conditions with a lower rate of price growth. The firm enters 2015 with a record order book of £1.4bn, up by 12 per cent last year. The order book represents 6,601 homes. In 2014 the company built 12,454 homes – an increase [...]
Kelvin MacKenzie gets Rupert Murdoch push for A Spokesman Said customer complaints website January 12, 2015 Media entrepreneur Kelvin MacKenzie has won backing from media tycoon Rupert Murdoch for a new website aimed at giving disgruntled consumers a chance to name and shame companies offering them poor service. A Spokesman Said, which was officially launched yesterday, will be funded by MacKenzie and a group of private investors, including Murdoch and entrepreneur [...]
Sarver retreats after Rangers reject new offer January 12, 2015 AMERICAN multi-millionaire financier Robert Sarver yesterday declared himself out of the running for Rangers after the beleaguered Scottish football club rejected his latest £20m takeover proposal. The offer involved the placing of 100m shares at 20p each, a move that would have required the approval of at least 75 per cent of shareholders. The board [...]
Google rents more office space at 6 Pancras Square in King’s Cross after campus delay January 12, 2015 Google has signed a deal to let more space in a building at King’s Cross after deciding to redraw plans for new £650m headquarters at the central London site. The search engine giant has agreed to lease all of 6 Pancras Square, after originally signing up for just under half of the space in [...]
Wage growth set to support UK’s recovery January 12, 2015 STRONG wage growth and low inflation should boost Britain’s economic recovery, analysts at UBS Wealth Management told City A.M. The recovery has been rapid over the past 18 months, but a weak Eurozone and a slowdown in emerging markets had raised fears the UK would also take a knock. Instead, UBS hopes wage growth at home will help [...]
General Election 2015: David Cameron plays it safe to fight Ukip and Labour January 12, 2015 David Cameron should be riding high, and he knows it. Such a strong economic turnaround compared with the position in 2010 would traditionally mean he had it in the bag. But with just 113 days to go until the general election he is still neck and neck with Labour. The Prime Minister cannot even take [...]
Welfare and NHS spending rise despite UK’s austerity promises January 12, 2015 PENSIONS and healthcare spending have risen under the coalition as they are areas protected from the wider desire to cut the deficit, figures from the Institute for Fiscal Studies showed yesterday. Despite claims of fierce austerity, overall spending – adjusted for inflation – has only fallen by 2.3 per cent over the parliament. The triple [...]
Tesco to scale back presence in Hungary January 12, 2015 TESCO said yesterday it is to shut 13 stores in Hungary “to secure the profitability” of its local business as the beleaguered retailer continues on its cost-cutting drive. The supermarket giant has over 200 stores in Hungary, where it has operated since 1995 and has grown to be its third-largest employer serving 3m customers. But [...]
