Burberry’s Christopher Bailey proves elusive again – Editor’s Letter May 19, 2015 When the fashion retailer Burberry unveils its full-year results today, it will be unsurprising if its chief executive and chief creative officer Chris Bailey keeps a low media profile, leaving the task of answering reporters’ questions to his finance director, Carol Fairweather. Bailey himself rarely makes an appearance in front of the media to [...]
Clerkenwell design week’s chic sights May 19, 2015 Clerkenwell design week kicked off yesterday. On St John’s Square, architects Cousins & Cousins have created a multicoloured jewel-like pavilion, “Glaze” (left), in collaboration with Gx Glass, a UK glass manufacturer. Another exhibition, WordPlay (bottom right), will see seven verbs suspended from trees, stacked on pavements, fixed to walls and crafted into furniture. The lightbulbs are [...]
Moneysupermarket share price dips as Simon Nixon cuts stake in website and rakes in £56m May 19, 2015 Entrepreneur Simon Nixon yesterday sold off a 3.7 per cent stake in Moneysupermarket.com, the price comparison website he set up in 1999, making him £56m. The sale of 20m shares, announced yesterday by Credit Suisse, cuts Nixon’s stake in the company down to 12.8 per cent. At 280p per share, the sale netted him [...]
HSBC to charge banks for euro deposits in response to low interest rates May 19, 2015 HSBC will soon be charging other banks that keep deposits with them, in response to the low-interest rate environment. Deposits of euros, Swiss Francs, Danish crowns and Swedish krona will be charged by Europe’s largest bank from August. But it will only affect banks, not other businesses or individuals. “HSBC charges banks for deposits they [...]
UK national rail strike: Bank holiday train chaos likely to hit brand reputations for all players – Brand Index May 19, 2015 Network Rail workers last Friday announced their plans to strike from 5pm on bank holiday Monday in a row over pay. Should it go ahead, it will be the first UK-wide rail strike for 20 years. It follows a vote for action from RMT union members, but has been condemned by Transport Secretary Patrick McLoughlin. [...]
Network Rail issues legal challenge to strike ballot May 19, 2015 Network Rail yesterday issued a legal challenge to the TSSA union over its planned bank holiday strike, as talks to avert the 24-hour industrial action dragged on. The rail employer said it was issuing court proceedings against TSSA – which represents around 3,000 “white-collar” workers who would be on strike – to contest “numerous defects” [...]
London house prices soaring above the rest of the UK with average cost now £498,000 May 19, 2015 House prices in the capital continue to outpace prices in the rest of the UK, according to the latest figures from the Office for National Statistics (ONS). London house prices were up 11.2 per cent in the year to March 2015, compared to a nationwide average of 9.6 per cent, according to the ONS house price [...]
Rightmove moves to add school Ofsted ratings and catchment areas to all property listings May 19, 2015 Nine in ten parents in London say they consider the quality of local state schools when deciding where to move, according to a new survey from property website Rightmove. Eighty-four per cent of parents surveyed told Rightmove they would consider moving to be near a good school. More than a third of Londoners without [...]
Ukraine raises the stakes as it negotiates with bond holders May 19, 2015 UKRAINE yesterday passed a bill allowing it to miss payments on foreign debts to protect against “unscrupulous creditors”. It comes as a deadline approaches on a deal to restructure the country’s debt, which was part of its bailout agreement with the International Monetary Fund (IMF) in February. If Ukraine fails to strike a deal with [...]
Vodafone sales growth fails to stop stock drop May 19, 2015 VODAFONE yesterday returned to growth for the first time in ten consecutive quarters, but investors were unimpressed, sending shares down 3.2 per cent on the day. The telecoms giant reported earnings before interest, taxes, depreciation and amortisation (Ebitda) of £11.9bn for the year ending 31 March. Analysts were less convinced at the firm’s strategy to [...]
