London Sports Festival moves from 3×3 basketball success to pickleball at the City of London Corporation’s Guildhall Yard
Inside Track: The Royal Mail outcome has not disappointed at all November 21, 2013 AS JOHN Major’s supposedly favourite think tank, the Bow Group, yesterday urged an independent investigation into the sale of Royal Mail Group, it seems that a growing number of people believe the bankers on the deal performed a bad job and should all be sent to the Tower of London or some such place to [...]
Challenger energy companies eye customers from the big six November 21, 2013 SMALLER energy companies have launched price cut pledges and bids in customer auctions to try and take clients from the big six. Ovo Energy, which has 150,000 customers, today unveiled a five per cent cashback offer for customers paying by direct debit, in a bid to entice households that have been hit by winter price [...]
Mothercare boss cautious despite return to profit November 21, 2013 MOTHERCARE boss Simon Calver warned yesterday that consumer spending was unlikely to improve in the near future despite Britain’s more positive economic outlook, as the baby products retailer swung back to profit. The group, which sells everything from pushchairs to nursery furniture and maternity clothing, posted an underlying pre-tax profit of £2m in the 28 [...]
Bottom Line: Calver’s turnaround begins to blossom November 21, 2013 IT COULD have gone so differently. Two years ago – around the time it launched a review of its struggling British business – Mothercare’s shares were trading at just 148p. Dreadful UK sales were dragging down decent growth in international markets, and the group had swung to a pre-tax loss of £81.4m in the first half of [...]
French Connection pins hopes on new collection as sales recover November 21, 2013 FRENCH Connection yesterday said its new autumn collection had been well-received by shoppers ahead of the key Christmas trading period as the fashion retailer posted a marked improvement in sales. Like-for-like sales for the third quarter to 20 November rose 2.1 per cent compared with a 4.5 per cent drop seen in the first six [...]
Foyles foiled by Crossrail construction November 21, 2013 BOOKSELLER Foyles blamed the Crossrail construction work for damaging trade at its flagship Charing Cross Road shop as it reported a 45 per cent slump in profits. The chain, which has five shops in London and one in Bristol, posted pre-tax profits of £83,294 in the year to June, down from £152,552 the previous year. [...]
National Grid says power row hurts spending November 21, 2013 NATIONAL Grid has trimmed its investment plan for next year and warned that political wrangling over energy policy is stopping power companies from starting new projects. The FTSE 100 firm, which distributes gas and electricity across England and Wales, expects to spend £3.5bn on upgrades next year, down from the £3.6bn to £3.9bn it had [...]
Network Rail spends more on track work as delays increase November 21, 2013 NETWORK Rail, the operator of Britain’s train tracks, spent £15m a day on upgrade work in the six months to the end of September, as the group added £253m to its debt pile to take the total past £30.6bn. The government-funded company said it invested a third more than it did a year ago on [...]
Banks swoop in to refinance power station November 21, 2013 BATTERSEA Power Station’s owners have secured a £790.2m funding package from a consortium of banks to help refinance the regeneration of the iconic red brick building. The loan is one of the biggest property financing deals completed so far this year and includes a £532m five-year facility to support the first phase of the development [...]
Weak rand and legacy book hit Investec shares November 21, 2013 DUAL-LISTED investment firm Investec yesterday said its struggling legacy business lowered six-month operating profits, and added the book could take another five years to run off. The Gresham Street based company, which is listed in London and South Africa, said operating profits fell 2.3 per cent in the six months ending September, dragged down by [...]
