Pandora rings up strong sales in UK August 12, 2015 DANISH jewellery brand Pandora said UK sales jumped by a third in the second quarter, as consumers snapped up its charm bracelets, rings and necklaces. The group, which was led until recently by former Asda boss Allan Leighton, said group revenue increased by 41.4 per cent to DKK 3.6bn, thanks to strong growth in the [...]
Former Co-operative Bank execs to face regulator scrutiny August 12, 2015 The Co-operative Bank may have avoided paying a financial penalty for its “serious and wide-ranging failings” between 2009 and 2013, but it is expected that the firm’s former management will face fines and punishments in the months ahead. The Bank of England’s prudential regulation authority (PRA) and the Financial Conduct Authority (FCA) said yesterday [...]
Johnston Press presses on with digital push as print revenues decline August 12, 2015 Johnston Press yesterday reported a £6.2m fall in revenue in the six months to 3 July, citing a “slowdown in general trading”. Driving the decline in revenues was a fall in income from print advertising, which fell to £64.1m, down 9.5 per cent on the same period of last year. The newspaper and magazine publisher [...]
Card Factory set to return cash to investors as new stores boost sales August 12, 2015 Budget greetings card chain Card Factory announced yesterday that it plans to return cash to shareholders after the opening of new stores and a relaunch of its website helped boost sales in the first half. The Wakefield-based retailer said total sales grew by eight per cent in the six months to 31 July thanks to [...]
Currency chaos splits global profit outlook as Eurozone businesses outpace UK and US rivals August 12, 2015 Currency turmoil is wreaking havoc with British and American company earnings, leaving businesses trailing the growth of rivals in the Eurozone. Profit growth in the Eurozone is on track to race past American levels for the first time since 2007 and leave the UK for dust after reporting forecast-busting earnings in the latest reporting [...]
Labour leadership contest: City leader Martin Clarke says Jeremy Corbyn would be “disastrous” August 11, 2015 A prominent City dealmaker and Labour party supporter has said that a victory for leadership hopeful Jeremy Corbyn would do “irreparable damage.” Martin Clarke, chief financial officer of roadside recovery giant AA and a former executive at the private equity firm Permira, told City A.M. in an interview yesterday that electing Corbyn would sever Labour’s [...]
Crude oil price drops on Opec supply figures August 11, 2015 CRUDE oil production by members of the Organisation of Petroleum Exporting Countries (Opec) reached its highest level in three years in July, despite Saudi Arabia indicating it had pulled back, figures showed yesterday. Brent crude oil tumbled to below $49 a barrel at one point yesterday, after rallying on Monday, driven by concerns over continued [...]
Prudential delivers higher profit as Asia business keeps growing August 11, 2015 Prudential yesterday reported a 17 per cent increase in operating profits in Asia during the six months to 30 June, soothing City fears that the firm’s exposure to China would affect its performance. The financial services company’s operating profits from its Asian business totalled £632m for the first half of the year. Prudential announced a [...]
Left-handed City workers still being left behind in the office August 11, 2015 Office workers who are left-handed are at a big disadvantage at work – at least according to recruiters CV Library, who say left-handed employees still face unexpected obstacles in the workplace. Only a quarter of businesses provide left-handed staff with specialist office equipment and stationery, despite 82.4 per cent of employees believing that employers have [...]
Frequent fliers keep flocking to London airports August 11, 2015 London Luton (LLA) and Heathrow airports yesterday reported strong passenger growth figures for July. Luton Airport achieved its sixteenth consecutive month of growth, with its 1.3m passengers a 16.5 per cent increase on the same period last year. Meanwhile, Heathrow served over 250,000 passengers on a single day three times in July, growing its total [...]
