Banker and diplomat to head UK trade body May 1, 2014 BRITAIN’S ambassador to the UAE was yesterday appointed as the new chief executive of UK Trade and Industry (UKTI). Dominic Jermey has worked for the Foreign Office since 1993, and before that was a corporate financier at J Henry Schroder Wagg. His role is to encourage investment into the UK by foreign firms and businesses, [...]
Fat Face unveils London listing to pay off debt May 1, 2014 FAMILY friendly retailer Fat Face yesterday became the latest private equity-backed retailer to tee up a listing on the London stock market, after announcing plans to raise £110m to cut debt. The business, which has about 200 stores across the UK, will offer shares to City fund managers after private equity backer Bridgepoint moved to [...]
Walkie Talkie signs up two more tenants May 1, 2014 CANARY Wharf Group and Land Securities’ Walkie-Talkie skyscraper is now 87 per cent let after the developers confirmed they had secured two new tenants yesterday. US insurance firm CNA and law firm DWF have agreed to take 35,000 square feet (sq ft) and 43,000 sq ft respectively, joining ten other companies that will soon move [...]
Sky’s costs soar as battle with BT Sport weighs May 1, 2014 BSKYB’S battle with BT continued to take its toll on the pay-TV broadcaster during the nine months to March as profits tumbled 8.5 per cent to £910m amid higher advertising and programming costs. While the broadcaster added 74,000 new television customers during the three months to March, its total customer base grew by only 68,000, [...]
Analyst Views: What do you make of BSkyB’s third quarter set of results? May 1, 2014 PAUL RICHARD | NUMISWe retain our view that Sky is making excellent operational progress, particularly in connected TV services, and we see considerable opportunity in new initiatives including AdSmart and Sky Store, though the Premier League auction continues to overhang the shares. STEVE LIECHTI | INVESTECSky’s third quarter results are mostly as expected with the [...]
Angela Ahrendts says goodbye to Burberry May 1, 2014 ANGELA AHRENDTS finally made her exit from Burberry yesterday after eight years at the helm of the luxury fashion retailer. American-born Ahrendts is due to start at Apple this month, with chief creative officer Christopher Bailey taking her place. She is understood to be taking with her the £5m bonus due for the past financial [...]
There’s no such thing as a Shore thing in wine May 1, 2014 THERE were a few in the City starting to wonder whether or not Shore Capital’s wine tasting do was going to happen at all this year. The annual knees-up usually takes place in February but as March and indeed April sped by there was still no sign. Had the stockbroker fallen on hard times? Had [...]
TUMI’s London treasure hunt May 1, 2014 FORGET Willy Wonka’s golden ticket, Easter’s over and we’re sick to death of sweets – there’s a new golden ticket in town: TUMI’s golden suitcases. The luxury travel brand is celebrating the launch of its flagship store on Regent Street with a competition, offering two lucky winners a luxury trip extravaganza. The trip takes in [...]
Strauss has Batty Day at Lloyd’s of London May 1, 2014 DURING a quiet moment at the Lloyd’s of London insurance market yesterday, former England cricket captain Andrew Strauss (L) gave some cricket tips to Mark Stephenson (M) and Sean Rocks (R) from Liberty Specialty Insurance. The visit was to announce the renewal of Liberty’s sponsorship of Test match grounds this summer, which will see the [...]
Schroders stays on top despite stronger pound May 1, 2014 CITY fund manager Schroders yesterday became the latest FTSE 100 giant to be hit by the surging value of the pound, after the currency wiped about £15m off stronger first quarter profits. The business, which makes almost 60 per cent of its revenue from overseas, said sterling’s strength against the Australian dollar, the Japanese yen [...]
