Twitter’s operations chief Ali Rowghani leaves amid ongoing user growth fears June 12, 2014 Twitter’s operations chief Ali Rowghani has stepped down amid concerns that the social network is struggling to add users. The California-based company has seen its share price tumble over 40 per cent since January after revealing its user growth has slowed to just 5.8 per cent during the first quarter, down from 10 per cent [...]
Amazon takes on Spotify with Prime Music service June 12, 2014 Amazon launched a music service yesterday that came free with its £79-a-year Prime membership programme, but offers a smaller selection of songs than Spotify. The new feature, Prime Music, allows subscribers to stream or download over a million songs without added fees or ads. This is one of many steps Amazon has taken in recent [...]
David Cameron: Jean-Claude Juncker election is power grab June 12, 2014 David Cameron has penned a stinging attack on Jean-Claude Juncker’s bid for the presidency of the European Commission, accusing the former Luxembourg leader of attempting “a power grab through the back door”. In an article, which appears in newspapers across the EU this morning, the Prime Minister makes clear that Juncker’s case for election, and [...]
Caixabank could bid to buy Barclays’ Spanish business June 12, 2014 SPANISH lender Caixabank is considering snapping up Barclays’ assets in Spain, as the British bank winds down much of its presence in western Europe. The continental businesses are a drag on Barclays’ returns and it wants to sell or close them to focus on more profitable areas. But it had not expected to sell them so soon [...]
Mulberry banks on cheaper bags to revive sales June 12, 2014 Mulberry is pinning its hopes on a new cheaper range of leather handbags to win back British customers after an ill-fated attempt to seem more upmarket sent profits tumbling last year. Under previous chief executive Bruno Guillon, who left the group in March, Mulberry was criticised for alienating its core customers after attempting to move [...]
Analyst Views: Following its results, do you think Mulberry is positioned for growth? June 12, 2014 HELEN NORRIS | BARCLAYS We would expect improvements as the year progresses against easier comparatives and with product launches. The recent Tessie Bag introduction has been received very well with full price like-for-likes recovering and there are hopes for the Cara Delevingne’s collection in September. JOHN CUMMINS | WH IRELAND Following the results, we leave [...]
BNP Paribas execs to leave amid US probe June 12, 2014 Embattled French bank BNP Paribas yesterday announced the loss of its chief operating officer, who is retiring in September, as pressure grew on senior adviser Vivien Levy-Garboua to leave the firm. COO Georges Chodron de Courcel has worked at the bank for 42 years and was involved in the 2000 merger of the banks BNP [...]
World Cup gives boost to Argos and Homebase sales June 12, 2014 Home Retail Group enjoyed a strong start to the year as the warmer weather and the World Cup prompted Britons to stock up on barbecues and new wide-screen televisions. Argos’ like-for-like sales rose 4.9 per cent in the 13 weeks to 31 May, the chain’s eighth consecutive quarter of growth, driven by sales of garden [...]
Bottom Line: Nothing mythical about Argos biting back June 12, 2014 WAY BACK in my student days I had a girlfriend from a rather affluent background who had never visited an Argos store. She laughed when I suggested we buy some or other dull household item from there, assuming that this was a joke. Yet half an hour later we were mooching around the Holloway Road [...]
PZ Cussons says profits hurt by £12m hit from falling currencies June 12, 2014 PZ CUSSONS said it would report a six per cent rise in profits this year, despite taking a £12m hit from falling currencies. The company behind St Tropez tanning lotion and Imperial Leather soap said pre-tax profits for the year to 31 May could have been 17 per cent higher had it not been for [...]
