Euro businesses finally indicate growth in July August 5, 2013 THE EUROZONE’S private sector finally began growing again in June– albeit marginally – with Markit’s purchasing managers’ index rising above 50 for the first time in 17 months. The overall figure for last month, published yesterday, was 50.5. Germany led the currency union once again with a score of 52.1. Italy, France and Spain were [...]
Eurozone hit by drop in retail with 2013’s largest fall this June August 5, 2013 RETAIL trade in the Eurozone dipped by 0.5 per cent during June, according to the EU’s official statisticians, and is now down 0.9 per cent from the same month last year. Eurostat released the figures yesterday, showing that June marked the largest monthly contraction seen so far this year. The previous significant drop was seen [...]
HMV returning to its first shop August 5, 2013 HMV IS returning to its original shop on Oxford Street after 13 years away, the music retailer’s new owner Hilco Capital confirmed yesterday. In a boost for the company’s recovery efforts after going into administration in January, HMV will move back into 363 Oxford Street in early October. The store, which housed HMV from 1921 [...]
New London homes sales hit record high as UK buyers return August 5, 2013 RETURNING confidence in the UK housing market has led to a jump in the number of Britons buying new homes off-plan, figures out today show. Domestic buyers accounted for 57 per cent of purchasers in the first half of 2013 compared with 47 per cent in the first half of 2012, according to research by [...]
Domino’s Pizza falls after £30m shares sell-off August 5, 2013 SHARES in Domino’s Pizza tumbled 7.5 per cent yesterday afternoon as investors reacted to news that two prominent non-executive directors sold more than £30m in shares after markets closed on Friday. Property entrepreneur Nigel Wray, an early investor in the pizza-maker who once held nearly 30 per cent of the firm, has pocketed £28m after [...]
Revlon makes $660M trip to the hair salon August 5, 2013 COSMETICS group Revlon has agreed to buy The Colomer Group from CVC capital partners for $660m (£570m), reacquiring a professional products business it sold 13 years ago. The business, which sells products such as Revlon Professional hair care under licence to salons, was sold in 2000 to the Colomer family and CVC Capital Partners for [...]
Self-storage group Lok’n Store sees occupancy jump 10 per cent August 5, 2013 SELF-storage firm Lok’n Store said yesterday that the amount of space being used at its sites to stow away belongings had jumped by 10 per cent on last year. The Aim-listed group said like-for-like occupancy levels increased to 64.5 per cent in the year to 31 July on the same time last year. “In the [...]
City boffin with X-factor invents economist rock August 5, 2013 EARLIER in the year The Capitalist invited readers to send word of any business-related songs they had come across in the workplace. The request led not only to the door of economist-slash-rocker Andrew Sentance, but also ex-MBA tutor – and friend of Sentance – Peter Cook. Cook, who gives musical leadership lectures to firms like [...]
Microsoft co-founder joins opera buffs at Holland Park August 5, 2013 AS THIS year’s season of the long-running Holland Park Opera comes to an end, any City opera-goers who were in attendance at the summer run might have spotted a familiar face in the audience. The Capitalist hears that eagle-eyed afficionados spotted none other than Microsoft co-founder Paul Allen in the audience. No confirmation from Allen himself, [...]
More competition sends profits at Morgan Sindall plummeting August 5, 2013 CONSTRUCTION company Morgan Sindall yesterday said its half-year profits had slumped 95 per cent as increased competition hurt margins. The company said that an exceptional charge of £13m taken as a provision against amounts recoverable on a small number of older construction contracts also hurt profit. Morgan Sindall, which builds houses, refurbishes offices and undertakes [...]
