Strong dollar cuts h&m sales and profit short June 25, 2015 SWEDISH retail giant H&M posted weaker than expected sales and profit for the second quarter of the year yesterday after the strong US dollar resulted in higher sourcing costs. Sales rose by 21 per cent to 46bn Swedish krona (£3.5bn) while profits stood at 8.4bn krona, up 10 per cent.
FCA probe leads to record slump in Slater & Gordon share price June 25, 2015 SHARES of the Melbourne-based law firm Slater & Gordon dropped more than 20 per cent yesterday in the company’s biggest ever one-day loss. The slump came after the Financial Conduct Authority (FCA) said that it was probing Quindell, a UK-based insurance claims handler. Slater & Gordon bought most of Quindell’s business in May for £637m. [...]
Stock Exchange Dinner beats the competition June 25, 2015 THE annual Stock Exchange Veterans’ Dinner saw a huge turnout at the St Paul’s Grange Hotel last night, despite competing with several corporate events in the same building. Last night saw a whopping 37 banks, businesses and firms put on their glad rags for a night of glamour, gourmet cuisine and generosity at the annual [...]
Square Mile Salute given official launch at legendary Annabel’s June 25, 2015 Armed Forces Week saw foodies and financiers toast the launch of the 2015 Square Mile Salute at exclusive members-only club Annabel’s. Directors, managers and execs dined on caviar with Masterchef judge Monica Galetti, launching the countdown to their Square Mile Salute charity banquet. The banquet, taking place in September, will raise funds for five military [...]
Amazon’s UK sales jump by 14pc June 25, 2015 UK sales at online retailer Amazon rose 14 per cent to £5.3bn last year, as British consumers engaged in an online shopping bonanza. A filing with Companies House showed Amazon’s UK division recorded a profit of £34.4m during the period, paying out £11.9m in tax. UK sales accounted for 9.4 per cent of Amazon’s global [...]
City Moves for 26 June 2015 | Who’s switching jobs June 25, 2015 Baker Tilly The professional services firm has appointed Kenny McLean as a director in its consulting practice. He joins from Certeco, where he was a director overseeing client change programmes. McLean has also held roles at KPMG, IBM, SAP and EDS. CBRE The commercial real estate services and investment firm has announced two appointments to [...]
Best of the Brokers for 26 June 2015 June 25, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com JOHNSON MATTHEY Numis reiterated its “add” rating on the technology firm, noting that the £256m tag on its research chemicals unit is an “excellent” sale price, and better than the broker had envisaged. “Although the deal will still be dilutive… it will have [...]
Weak performance in mining sector is a drag on the FTSE – London Report June 25, 2015 WEAK mining stocks and persistent concerns over Greece’s debt problems weighed on the UK market yesterday. The benchmark FTSE 100 equity index closed down 0.5 per cent at 6,807.82 points. Miners took most points off the index, with the FTSE 350 Mining Index falling 1.8 per cent as copper prices lost ground. The FTSE 100 [...]
Equities down over Greece – New York Report June 25, 2015 AUS Supreme Court ruling upholding tax subsidies boosted US hospital stocks to record highs yesterday, while global equity markets edged lower on lingering worries over Greece. The Dow Jones industrial average fell 75.71 points, or 0.42 per cent, to 17,890.36, the S&P 500 lost 6.27 points, or 0.3 per cent, to 2,102.31 and the Nasdaq [...]
The NHS isn’t unique – and we’ll never fix its many flaws until we realise this June 25, 2015 As an undergraduate student, I spent an Erasmus semester in a small town in Spain. During a flat viewing, the landlady who showed me around pointed at the microwave in the kitchen, and said: “This is a microwave. Do you know what a microwave is?” I got a bit confused by the question, which sounded [...]
