Bonmarché rises on AIM debut November 20, 2013 OVER-FIFTIES clothing chain Bonmarché kicked off its first day of trading yesterday on London’s junior market after an initial public offering that raised £40m. Shares closed up at 220.5p last night, above the original offer price set last week of 200p a share and valuing the retailer at £110m. Some analysts have criticised the company [...]
JC Penney sees losses widen but expects strong Christmas sales November 20, 2013 STRUGGLING retailer JC Penney yesterday said it was encouraged by business so far in November and forecast higher comparable store sales in the current holiday quarter. For the fiscal third quarter, ended 2 November Penney reported a net loss of $489m (£302m), or $1.94 per share, compared with a net loss of $123m, or 56 [...]
Eclectic raises the bar with market float November 20, 2013 THE OWNER of some of the UK’s swankiest nightspots yesterday raised £15m in its stock market debut. Eclectic Bars, which owns clubs like Lola Lo, Po Na Na and Fez, floated on the junior stock market to fund a payout to its private equity backers, Avanti Capital. Avanti will get £11.8m from the float. Eclectic [...]
Shorter UK web address set to be sold to firms November 20, 2013 BRITISH businesses will be able to shorten their .co.uk web addresses to .uk next year, the UK internet registry organisation Nominet said yesterday. The new domain will go on sale next year for the same price as existing .co.uk web addresses. “It’s about helping people to have more memorable names and keeping the trust and [...]
Rangers Football Club appoints third chief executive this year November 20, 2013 RANGERS Football Club have appointed Manchester City operations chief Graham Wallace as their new chief executive, after Craig Mather resigned in October after only six months in the job. Rangers have been struggling on and off the pitch having been knocked back to the fourth tier of the Scottish Football League after collapsing under a [...]
Trader gets 30 months after Apple wire fraud November 20, 2013 A FORMER trader was sentenced to two-and-a-years in prison yesterday for an unauthorised purchase of about $1bn in Apple stock that eventually led to the demise of financial services firm Rochdale Securities. David Miller, 41, was sentenced by US District Judge Robert Chatigny in Hartford, Connecticut, seven months after pleading guilty to wire fraud and [...]
Graphene soars 40pc on debut November 20, 2013 APPLIED Graphene Materials saw its share price jump nearly 40 per cent on its first day of trading yesterday, as investors piled in to buy shares during its oversubscribed debut. “Graphene grabs the headlines… but financial investors and institutions have been great in their understanding of this innovation. The float gives us a financial platform [...]
Marlboro-maker Philip Morris to enter e-cigarette market November 20, 2013 PHILIP Morris plans next year to enter the electronic cigarette business, a $2bn-plus global market identified by the maker of Marlboro cigarettes as its “greatest growth opportunity.” Speaking to investors in New York, chief executive Andre Calantzopoulos said the firm would enter the e-cigarette business in the second half of 2014 to tap fast-growing demand [...]
EADS eyes job cuts in new division November 20, 2013 European aeronautics group EADS is planning to cut up to 20 per cent of the roughly 40,000-strong workforce at its newly created Airbus Defence & Space division, German news agency dpa reported last night, citing “informed sources”. A company spokesman declined to comment and said there would be more details announced on 9 December when [...]
Bumi vote on separation delayed November 20, 2013 London-listed coalminer Bumi said yesterday that RACL, a vehicle owned by company chairman Samin Tan, hadn’t yet concluded the financing deal required by the terms of the PT Bumi Resources sale, meaning the separation of Bumi could not be completed within the agreed timetable. Bumi said it would adjourn a meeting on 4 December when [...]
