John Lewis retains crown as Britain’s most trusted retailer October 8, 2013 JOHN LEWIS has been voted Britain’s most trusted retailer, according to research out today that showed that overall trust in retailers has hit a four-year low. Of the 10,000 shoppers surveyed by consultancy firm OC&C Strategy, 96 per cent said they trusted the department store group, followed by other heritage brands Marks & Spencer and [...]
Sainsbury’s sees fall in disposable income in 2013 October 8, 2013 BRITISH consumers are likely to have less disposable income this time next year, the boss of Sainsbury’s said yesterday, casting further doubt on the speed of economic recovery. Official data and surveys have shown an improving outlook for UK consumer spending, which generates about two-thirds of gross domestic product, but retailers remain wary as inflation [...]
Kingfisher to shift sourcing away from China October 8, 2013 KINGFISHER, Europe’s biggest home improvements retailer, said yesterday it planned to source more products from eastern Europe and Turkey to counter higher costs in China, and build a central warehouse in Europe to improve its supply chain. The company, which owns B&Q and has suffered from weak demand due to sagging housing markets in many [...]
Spanish fashion empire Mango plots launch of 200 megastores October 8, 2013 SPANISH fashion retailer Mango unveiled plans yesterday to launch 200 megastores by the end of next year that will house all of its brands under one roof. The brand is aiming to increase the size of its shops to between 8,600 square feet and 32,000 sq ft. The average size of Mango units is currently [...]
Alcatel-Lucent cuts jobs in new turnaround plan October 8, 2013 TELECOM equipment maker Alcatel-Lucent announced plans yesterday to cut an overall 10,000 jobs worldwide in what its chief executive called a last chance to turn the company around from heavy losses. Alcatel-Lucent, the product of a 2006 Franco-US merger aimed at creating a global giant, told a European works council meeting it intends to axe [...]
Aston Martin drops supermini Cygnet vehicle from its range October 8, 2013 BRITISH luxury sports car maker Aston Martin has ended its foray into the supermini segment by dropping its Cygnet city car from the range after poor sales, a source close to the company said. The source said Aston Martin’s two-door Cygnet, which was based on the Toyota iQ, had been dropped from the company’s line-up [...]
Ferrexpo has record production but weak metal prices hit hard October 8, 2013 RECORD production in the third quarter was not enough to stop FTSE 250-listed iron ore miner Ferrexpo’s shares sliding 2.5 per cent yesterday, as the low base metal price weighed down on the sector. Ferrexpo delivered 2,681kt of pellets from its own ore, up 3.2 per cent from the second quarter. Total pellet production for [...]
Business comms group Daisy dials up more customer wins October 8, 2013 BUSINESS communications service provider Daisy Group said yesterday that trading in the six months to 30 September is in line with expectations and it expects to comfortably meet its full year targets. Daisy’s core retail business has had a number of contract wins, with both public and private sector customers taking up its broadband, hosting [...]
Atkins to ride the Riyadh Metro October 8, 2013 British engineering group WS Atkins has won a £75m contract to design part of Riyadh’s new Metro system, which the Saudi Arabian city has hailed as the biggest public transport project in the world. Atkins will lead a joint venture with Spanish consultancy Typsa for three of the Metro’s six lines. Work on the entire [...]
Grangemouth spat heats up October 8, 2013 Oil refiner Ineos yesterday refused to go to independent arbitration in a dispute with workers at its Grangemouth refinery and petrochemical plant in Scotland, increasing the chances of a full-scale strike. Ineos and Unite, Britain’s largest trade union, have been engaged in a separate war of words about the future of the petrochemical plant. Last [...]
