HMV looks to live music to boost fortunes March 26, 2010 HMV is pinning its growth hopes on live music as it forges ahead with a restructuring of the business. In a strategy update the firm pledged a turnaround of its Waterstone’s bookstores which traded poorly over Christmas, and said it would maintain the current level of dividend. HMV said that its transformation into an entertainment [...]
London business leaders fear double-dip recession March 26, 2010 LONDON’S business leaders have become more worried about the possibility of a double-dip recession since the budget. Almost seven out of 10 said they feared another “period of economic” decline was on the horizon, according to a poll by the London Chamber of Commerce and Industry. When the same question was asked in January the [...]
M&A activity rebounds after recession March 26, 2010 MERGERS and acquisitions jumped to $520.4 billion £350bn in the first quarter, new figures have revelealed. Data from Thomson Reuters data showed M&A jumped 18 per cent worldwide from the first quarter of 2009, when dealmaking was depressed by the credit crunch that followed the financial crisis. Compared with the last quarter of 2009, however, [...]
Times to charge for online content March 26, 2010 NEWS International will charge readers for online versions of its Times and Sunday Times from June, the company has announced. Access to two new websites for the titles will cost £1 per day or £2-a-week. Subscribers to the print versions will get free access to the sites. Both titles will launch new websites in May, [...]
Japan in deflation for a year March 26, 2010 JAPAN’S economy has been in deflation for 12 consecutive months, official figures have shown. Consumer prices fell by 1.2 per cent in February compared to a year earlier. Many analysts expected the Bank of Japan to ease monetary policy to get the debt-laden economy back on track. Takeshi Minami, chief economist at Norinchukin Research Institute, [...]
Lebedev buys Independent for £1 March 25, 2010 THE Independent and Independent on Sunday newspapers have been sold to Russian billionaire Alexander Lebedev. Oligarch Lebedev, owner of the Evening Standard, bought the loss-making papers from Irish company Independent News & Media (INM) for £1. As part of the deal, INM agreed to pay Lebedev’s Independent Print Limited (IPL) £9.25m over the next ten [...]
UK retail sales rebound March 25, 2010 UK retail sales rose strongly between January and February, official figures have shown. Data from the Office for National Statistics (ONS) showed a 2.1 per cent hike. In January, volumes fell by three per cent. Vicky Redwood of Capital Economics said: “February’s official retail sales figures confirm that high street spending bounced back after the [...]
Jarvis plunges into administration March 25, 2010 RAIL contractor Jarvis has plunged into administration after its banks pulled the plug. In a statement to the Stock Exchange the firm said it no longer had the support of its banks and could not “continue trading as a going concern.” Jarvis employs 2000 people mainly on rail and freight maintenance projects. Trading in its [...]
Next profits in 18pc surge March 25, 2010 NEXT saw profits jump by 18 per cent last year as it reacted more quickly to changes in fashion. Pre-tax profits rose to £505.3m with sales totalling £3,406m. The company said spending drop on the high street in the recession had not been as bad as feared. Next, which runs over 500 shops in the [...]
Kingfisher raises dividend after profits boost March 25, 2010 B&Q owner Kingfisher beat profit forecasts and raised its dividend – helped by a rise in sales of eco-friendly products. Pre- tax profit excluding and one-off items jumped 49 per cent to £547m in the year ended January, above the average forecast of £543m. As well as raising its dividend for the first time in [...]
