Carpetright set to sweep forecasts April 21, 2015 SHARES in Carpetright soared 6.6 per cent yesterday after the retailer said full-year profits would be ahead of expectations thanks to a pick-up in trading in the UK and overseas. The floor coverings retailer, which has had a rollercoaster few years after a series of management changes and profit warnings, said UK like-for-like sales rose [...]
Woodford strikes maiden deal for newly minted venture fund April 21, 2015 ASSET manager Neil Woodford clinched the first known investment from his record-breaking venture capital fund yesterday, as the vehicle started trading in London. The Woodford Patient Capital Trust, which raised £800m from investors on Monday, will take a 17.2 per cent stake in healthcare minnow Sphere Medical, worth about £3.7m. Sphere makes monitoring and diagnostic [...]
Rich pensioners sitting on £16bn of untapped leisure spending April 21, 2015 Wealthy British pensioners added £37bn to the economy in leisure and hospitality spending last year, according to research from Barclays today. But they could spend an extra £16bn, if firms only realised the consumer group had such financial resources, the report into Britain’s aging population showed. The average Brit spends £2,486 on leisure and hospitality each [...]
Hungary cuts rates and flags more to come April 21, 2015 THE HUNGARIAN central bank cut interest rates by 15 basis points to a new low of 1.8 per cent yesterday, taking advantage of sub-zero inflation, a strong forint and capital flows. The National Bank of Hungary began a new easing cycle last month and hinted further cuts.
Royal Bank of Canada teams up with Old Vic April 21, 2015 AS HOLLYWOOD star Kevin Spacey prepares to depart the Old Vic theatre this week the famous venue is going back to its roots – by striking a three year sponsorship deal with the Royal Bank of Canada (RBC). Spacey is standing down as artistic director after 11 years but he leaves the RBC deal as [...]
BT and Williams Martini Racing close to inking tech partnership April 21, 2015 LUIS Alvarez, the boss of BT Global Service, was revving up for the telecoms giant’s new partnership with the Williams Martini Racing Formula One team yesterday. The pair worked together on a pilot scheme last season and now plan to collaborate in the spheres of communications expertise, technology and consulting services. The benefits of the [...]
Pret A Manger thriving on a macaroni diet April 21, 2015 Quinoa and coffee are the order of the day, Clive Schlee tells Jenny Forsyth PRET A Manger boss Clive Schlee is talking quickly and excitedly. Perhaps he’s just feeling upbeat about the British cafe chain’s record yearly figures – showing a total sales rise of 16 per cent to £594m. Or maybe he’s had a [...]
City Moves for 22 April 2015 | Who’s switching jobs April 21, 2015 HFG The specialist insurance recruiter has appointed Stewart Taylor as head of business and market development. He was founder of insurance search firm Hermes People, and also previously spent 10 years at McGregor Boyall as director of its banking and capital markets division. BDO Nicole Martin has been appointed audit partner in the accountancy and [...]
Best of the Brokers for 22 April 2015 April 21, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com KINGFISHER Analysts at Investec said Kingfisher’s 10-year strategy launched earlier this month by new chief executive Veronique Laury “left more questions than it answered” and downgraded Kingfisher from “hold” to “sell” but retained its target price of 300p. SAB MILLER Credit Suisse has [...]
Strong Arm and a sunnier Sky lift the FTSE close to record – London Report April 21, 2015 THE TOP share index advanced yesterday towards a recent record high, with shares in ARM Holdings and Sky rising sharply after the companies announced strong profits. The blue-chip FTSE 100 was up 10.80 points, or 0.2 per cent, at 7,062.93 points by the close, after gaining 0.8 per cent in the previous session. However, the [...]
