Kate Moss returns to Topshop October 7, 2013 Model Kate Moss has resumed her partnership with Topshop, owned by her friend Sir Philip Green. Moss, 39, has not designed for the fashion retailer for the past three years, but is now working on designs for a spring/ summer collection for next year.
Burberry shares slide after chief warns on China October 7, 2013 SHARES in Burberry plunged yesterday after the brand’s chief executive stressed that the slowdown in China could be more than a passing phase for the luxury sector. The Chinese economy’s growth this year looks set to meet the government’s 7.5 per cent target. However, that would still represent the slowest pace of expansion in 23 [...]
Bottom Line: Retailers shouldn’t rely on Asia October 7, 2013 BURBERRY may have been quick to say that Angela Ahrendts’ comments had been taken out of context yesterday, but there’s no doubt that a Chinese slowdown – past, present or future – is weighing heavily on retailers and investors’ minds. Ever since the financial crisis tightened the purse strings of luxury brands’ traditional client base [...]
City of London Investment hit by rebellion over pay to ex-bosses October 7, 2013 INVESTORS yesterday voiced their disapproval at a £700,000 payout to two former bosses at City of London Investment Group who quit after just three months running the company. Doug Allison, former chief executive, and Valerie Tannahill, ex-finance director, left the investment management group in April after being appointed in January. Shareholders yesterday voted against the [...]
HSBC warns visa regulations are hitting UK firms October 7, 2013 BRITISH businesses are being put at a disadvantage relative to European and US rivals because it takes too long to get a visiting visa, HSBC warns in a report on exporting today. It can take weeks for a visitor to get a short-term visa, delaying business trips and hurting small firms’ efforts to export more, [...]
Thomas Cook takes £19.5m hit on sale of Egypt and Lebanon units October 7, 2013 THOMAS Cook Group said yesterday it had sold its businesses serving customers in Egypt and Lebanon to Bahrain’s Yusuf Bin Ahmed Kanoo (Holdings) in the latest stage of the British travel company’s turnaround plan. Thomas Cook, which will continue serving Egypt as a holiday destination, said it would receive £6.5m in cash for the two [...]
On the Beach travel website sold to new financial backers for £73m October 7, 2013 ONLINE travel agent On the Beach yesterday changed hands for £73m after its private equity backers Isis Equity Partners sold the business to rival Inflexion Private Equity. On the Beach, which was advised by DC Advisory on the sale, has around 900,000 customers and has grown sales from £78m to about £280m since Isis first [...]
Albemarle & Bond whipped back into shape October 7, 2013 TROUBLED pawnbroker Albemarle & Bond yesterday appointed a seasoned corporate fixer to its board in a bid to help bring the company back from the brink. The high street gold broker, which has suffered a 75 per cent share price plunge over the past month, has recruited Colin Whipp as chief restructuring officer to lead [...]
Britain gets its own version of America’s FBI October 7, 2013 BRITAIN launched a new crime-fighting agency yesterday and unveiled a revamped strategy to combat serious organised crime, which it says costs the country £24bn and represents a threat to national security. At the heart of what the government vowed would be a tougher new approach is the National Crime Agency (NCA), dubbed Britain’s version of [...]
Serious Fraud Office calls for change in law October 7, 2013 THE SERIOUS Fraud Office (SFO) said yesterday the law must be changed if critics want to see more companies in court for misconduct. Serious Fraud Office director David Green said he was constantly being compared unfavourably with US enforcement agencies, which prosecute far more companies for fraud. The SFO faces a much higher burden of [...]
