Euro worries persist despite brighter data March 31, 2015 SLIGHT improvements in inflation and unemployment have not been enough to quell fears that the Eurozone’s recovery is still in a fragile state. Prices in the currency union are still falling on an annual basis but the rate of decline slowed to 0.1 per cent in March from 0.3 per cent in February, according to [...]
Strong growth expected after buoyant retail sales in Germany March 31, 2015 GERMAN retail sales dropped in February but remain at high levels that are expected to lead to better growth this year. Retail sales fell by 0.5 per cent from January to February according to figures released yesterday by Destatis, Germany’s statistical office. However, sales were 3.6 per cent higher than a year before. Sales in [...]
US consumer confidence to boost economy March 31, 2015 US CONSUMERS are feeling confident, according to figures released yesterday by the Conference Board. The research group’s confidence index jumped to 101.2 in March from February’s 98.8. “This month’s increase was driven by an improved short-term outlook for both employment and income prospects” said Lynn Franco, director of economic indicators at the Conference Board. “The [...]
Veronique Laury: DIY is not dead, says chief exec of Kingfisher March 31, 2015 The chief executive of Kingfisher denied yesterday that the younger generation had fallen out of love with DIY, even as the home improvement chain announced the closure of one in six stores across the UK. Veronique Laury, who took the helm at Kingfisher in January, said: “I am not one of those who thinks DIY [...]
How Veronique Laury plans to create the Apple of DIY – Bottom Line March 31, 2015 If I had asked people what they wanted, they would have said faster horses”. Kingfisher’s new chief executive Veronique Laury dusted off her dictionary of quotations yesterday, picking this one from Henry Ford to make the tenuous link that just as Ford gave middle-class Americans a car, the DIY chain will give consumers “what they [...]
Elliott Advisors in tit-for-tat spat with Alliance Trust directors March 31, 2015 ELLIOTT Advisors yesterday published a lengthy riposte to Alliance Trust, arguing that the investment group is underperforming the market. Activist investor Elliott is asking shareholders to add three new directors to Alliance’s board, arguing bosses need more scrutiny. But Alliance Trust’s bosses are resisting the idea, arguing the firm is performing well. Meanwhile, JP Morgan [...]
Shore Capital backs UK bid to reform the EU March 31, 2015 BRITAIN needs to take back from Brussels control of financial services, and should challenge the EU over restrictive employment law and red tape, Shore Capital boss Howard Shore told City A.M. yesterday. The investment banking boss’ intervention challenges the perception that City leaders are opposed to the Prime Minister’s promise to renegotiate Britain’s relationship with Brussels, [...]
Tidjane Thiam earnt £11.8m in last year as Prudential’s chief executive March 31, 2015 Outgoing Prudential chief executive Tidjane Thiam received £11.8m in his final year at the company, the insurer revealed yesterday. The vast majority of that came from long-term incentive awards – those payouts gave him £8.3m. Combined with a salary of just over £1m, pension contributions of almost £400,000 and a bonus of £2.1m, the boss [...]
Ex-Ladbrokes boss gets £850k March 31, 2015 DUMPED Ladbrokes chief executive Richard Glynn received a sum over £850,000 on his last day in the role yesterday. The amount includes £514,000 in salary, plus pension, legal fees and allowances – but a bonus with share options could further increase the payout after the firm’s 2015 results. The bookmaker announced in December Glynn would [...]
Mitie issues a profit warning March 31, 2015 OUTSOURCING giant Mitie yesterday issued a profit warning over the government’s squeeze on social-housing spending. The FTSE 250 firm has a varied portfolio of operations, including cleaning the Tower of London, killing pests at Imperial College London and pouring champagne at the Chelsea Flower Show. Shares plunged 5.5 per cent as the firm said council [...]
