Brand Index: Price-conscious shoppers are feeling festive about Aldi October 1, 2013 ALDI has been on the rise this week. The discount grocer said its pre-tax profits had more than doubled in 2012, and during the year it attracted 1m additional shoppers. The company also revealed that it is launching a new own-brand line of cut-price luxury foods in time for the Christmas season. Aldi has a [...]
Walker Greenbank profits rise as wallpapers dazzle US consumers October 1, 2013 WALKER GREENBANK, the luxury wallpaper maker, posted a jump in first half profits yesterday after its colourful fabrics and wallpapers caught the eye of American and Asian customers. The company behind brands including Morris & Co – set up by nineteenth century textile designer William Morris – reported a 13.3 per cent rise in adjusted [...]
Ex-Npower chief exec joins Albion October 1, 2013 London-headquartered venture capital firm Albion Ventures yesterday said it has hired former RWE Npower chief executive Volker Beckers as the chairman of Albion Community Power (ACP), a renewable power generation and investment firm. Beckers was group chief executive of the big six energy supplier’s parent company from 2010 until 2012. ACP is looking to raise [...]
Mitie wins £38m pub contract October 1, 2013 Outsourcing group Mitie has secured a £38m contract with Mitchells & Butlers to handle the pub chain’s waste management and cleaning for three years. Mitie will provide recycling and waste management at all 1,600 pubs and restaurants operated by Mitchells & Butlers, while also cleaning 650 locations across the firm’s estate. Mitchells & Butlers brands [...]
Merck plans to axe 8,500 jobs October 1, 2013 Merck yesterday became the latest drug company to cut spending, announcing plans to cut annual operating costs by $2.5bn and eliminate 8,500 jobs. US-listed Merck said it aims to narrow its focus to products with the best chance of winning regulatory approval and achieving substantial sales. The job cuts, representing more than 10 per cent [...]
Energy bosses hit out at plans to rejig market October 1, 2013 THE BOSS of energy firm SSE yesterday called for the government to incorporate the cost of its green initiatives into taxation to bring down bills, rather than forcing a price freeze as proposed by the Labour party. In an open letter to the leaders of the three major political parties, Alistair Phillips-Davies said “while rising [...]
Begbies Traynor warns of lower earnings due to insolvency fall October 1, 2013 RESTRUCTURING specialist Begbies Traynor yesterday said revenues were currently lower than last year due to “suppressed” conditions in the insolvency market. The company, which helps businesses restructure when they fall into insolvency, said a 13 per cent decline in insolvency appointments across the country had been bad news for its own business. The gloomy prediction [...]
Globetrotters go to Dollywood October 1, 2013 The world famous Harlem Globetrotters exhibition basketball team has been sold to theme park operator Herschend Family Entertainment. Herschend, which operates 26 theme parks and aquariums across America, including most notably Dolly Parton’s Dollywood theme parks, acquired the team from private equity firm Shamrock Capital Advisors for an undisclosed sum.
Northern sells Netherlands unit October 1, 2013 Oil and gas explorer Northern Petroleum yesterday said that it has agreed to sell its Netherlands subsidiary to Vermillion for C$27.5m (£16.4m). The Aim-listed firm will also receive an interest in future profits. “The assets in the Netherlands have served the group well over the last six years, but the time is now right to [...]
Derwent nets new financing October 1, 2013 Property group Derwent London has agreed a new £550m unsecured credit line with its four main lenders, in a deal the firm said is more flexible than its current banking facilities. Derwent said the deal replaces its £650m secured bank facilities, which were due to expire over the next four years. The move follows a [...]
