Warm summer and web growth lift Debenhams September 17, 2013 A FLEDGLING economic recovery is likely to take time to feed into stronger consumer spending, department store group Debenhams said yesterday, as a hot summer and online growth helped to lift its quarterly sales. Shares in the 200-year-old firm, which trades from 236 stores across 28 countries, rose as much as 4.4 per cent yesterday [...]
Analyst Views: Has Debenhams’ strong summer made a lasting impression? September 17, 2013 JOHN STEVENSON | PEEL HUNTOverall, a stable end to the year, benefiting from the favourable weather conditions. Being slightly churlish, we had hoped for the warm weather to have had a clearer benefit to margin delivery, although Debenhams stuck to its set promotional calendar and exited the season well. KATE CALVERT | CANTOR FITZGERALD2013 has [...]
Heathrow to keep Rudd as its chairman September 17, 2013 HEATHROW Airport’s parent company will renew Sir Nigel Rudd’s contract as its chairman until 2016, keeping him on board as the airport navigates the government’s looming decision on airport expansion. Sir Nigel, an industry veteran, has decided to stay with Heathrow Airport Holdings to help fight the case for a third runway, according to Sky [...]
Chinese boost not big enough to hit Prada target September 17, 2013 ITALIAN luxury fashion house Prada posted a 7.6 per cent rise in first-half profits yesterday, lifted by solid growth in its key greater China market but the result was lower than what analysts had expected. The maker of luxury leatherware and Miu Miu-brand dresses said its net profit for the six months ended July was [...]
Coty’s warning on slowing sales takes shine off maiden results September 17, 2013 COTY, the American cosmetics firm that floated in June, said revenue was likely to decline marginally this quarter as growth slows in the United States and Europe. The warning took some of the lustre off stronger-than-expected results in the firm’s first report as a public company. Coty, which listed after failing to take over Avon [...]
ENRC steps up legal battle with former director September 17, 2013 ENRC’S legal battle with city veteran Sir Paul Judge took a new turn this week, when the troubled miner produced transcripts it claims prove the former director leaked price-sensitive and confidential information to a journalist. ENRC, which is due to delist after more than five years on the FTSE 100, sued Judge back in July, [...]
Berlusconi firm faces massive fine after losing court battle September 17, 2013 THE FAMILY holding company of former Italian Prime Minister Silvio Berlusconi was ordered yesterday to pay €494m (£415m) in damages stemming from the purchase of publisher Mondadori. The final ruling by Italy’s top appeals court was a fresh blow to Berlusconi, 76, already reeling from a supreme court verdict which confirmed a four-year jail sentence [...]
Telecom Italia investors reject €800m Telefonica buyout offer September 17, 2013 ITALIAN shareholders in Telecom Italia this month rejected an €800m (£672m) offer from Spain’s Telefonica to buy part of their stakes, Italian business newspaper Il Sole 24 Ore said yesterday. Telefonica is the biggest shareholder in Telco, the holding that controls Telecom Italia with a 22.4 per cent stake. Telco also includes Italian banks Intesa [...]
Europe’s drivers steering clear of buying new cars September 17, 2013 EUROPEAN car sales fell 4.9 per cent last month, the Association of European Carmakers said yesterday, widening the gap between the booming British market and the slide on the continent. Registrations fell to 686,957 cars in August, a slow holiday month, as sales slid further in France, Italy and Germany, taking the European decline for [...]
Ireland’s central bank lays down tougher goals on mortgage debt September 17, 2013 IRELAND’S central bank and bailout lenders set the country’s lenders tougher targets yesterday to solve a mortgage arrears crisis that has left one in five of all Irish homeowners unable to repay their loans. Ireland took an €85bn bailout in 2010 after rescuing its banks, whose easy lending had fuelled a credit bubble, and the [...]
