EU watchdog moves to Canary Wharf June 17, 2014 The European Banking Authority has signed on the dotted line to secure new offices in Canary Wharf. The watchdog will occupy part of level 45 and the whole of floor 46 of One Canada Square, just as the Financial Conduct Authority gets ready to move to Stratford.
Supermarket Morrisons to cut 2,600 top jobs June 17, 2014 MORRISONS confirmed yesterday that it would be cutting 2,600 jobs in its stores in the UK, as it sought to simplify its management structure. The supermarket chain, which is currently ranked fourth by market share in the UK, said it has trialled the new management structure in some of its stores and it now aims [...]
JD Sports half-time report good as World Cup gives sales a boost June 17, 2014 JD Sports has enjoyed a boost in sales in the build-up to the World Cup, the retailer said yesterday. However, the company remained tight-lipped on like-for-like sales figures, warning they would be “misleading” because of the different trading conditions in the lead up to the tournament. In an interim management statement covering the 18 weeks [...]
Analyst Views: Does JD Sports’ half-time statement bode well for the future? June 17, 2014 NICK BUBB | INDEPENDENT ANALYST It’s not often that retailers don’t provide like-for-like sales figures because they would look too good, yet that is what JD Sports stated in its trading update. Apart from the World Cup boost, it was moderately encouraging to hear that the struggling outdoor and fashion divisions are doing better. FREDDIE [...]
Regional boom for Premier Inn helps Whitbread sleep easier June 17, 2014 PREMIER Inn owner Whitbread yesterday said rising demand outside London helped drive an 8.8 per cent rise in revenue per available room at the brand. The company, which also owns Costa Coffee, reported a 9.9 per cent rise in the figure for the regions, compared to a slower 3.3 per cent increase in London. Premier [...]
Iceland opens more stores but earnings fall June 17, 2014 ICELAND announced yesterday it planned to crack on with its expansion, opening more than 40 new stores this year to create up to 1,250 jobs. Last year, Iceland opened 46 new stores, creating 1,500 new jobs. Spending on new shops drove underlying earnings for the year to the end of March down 11 per cent [...]
Lord Saatchi calls to axe small firms’ corporation tax June 17, 2014 Lord Saatchi will today plot out the details of his proposal to axe corporation tax for smaller businesses – a move he claims would foster growth while cutting the deficit faster than expected. The advertising magnate’s report, published by Centre for Policy Studies, points out that 90 per cent of all UK companies have fewer than [...]
Bottom Line: Every Lidl helps: Discounters’ big future June 17, 2014 IF THE UK’s biggest supermarkets have any scraps of hope left that the discounters will soon stop nipping at their market share, they should abandon them now. Discount is set to be one of the fastest growing channels for years to come, adding €40bn (£32bn) in sales across Western Europe by 2018, according to a [...]
Francois Hollande urges Alstom suitors to raise their offer prices June 17, 2014 FRENCH President Francois Hollande raised the stakes in the battle for engineering group Alstom yesterday, telling rival suitors General Electric and Siemens to come up with better offers. Hollande’s government has given itself the power to veto a deal on the grounds it does not want Alstom, an innovator and big employer, to sell the [...]
Apple settles $840m ebook pricing lawsuit June 17, 2014 Apple has agreed an out-of-court settlement to end an $840m (£495m) legal dispute with consumers who argued they had overpaid for ebooks due to price-fixing between the iPhone maker and book publishers. The settlement follows another case last year that ruled Apple had breached anti-trust laws by agreeing higher ebook prices in its stores.
