Debenhams sales up March 20, 2012 Debenhams, Britain’s second largest department store group, showed its resilience in tough markets with an improving sales performance in its first half. The firm, which trades from 167 stores in the UK, Ireland and Denmark and over 60 franchise stores in 24 international markets, said on Tuesday sales at stores open over a year rose [...]
WorldSpreads plunges into administration March 19, 2012 Financial spread-betting company WorldSpreads Group, which suspended its shares last week over possible irregularities in its accounts, has gone into administration and warned it owes clients millions of pounds. The Dublin-based company, which runs online and telephone trading services, said on Monday Jane Moriarty and Samantha Bewick from accountancy firm KPMG had been appointed as [...]
Banks and miners stall FTSE rally March 19, 2012 The FTSE 100 edged lower today as last week’s rally was ended by investors steering away from banking and energy stocks. Banks have led the market higher over recent sessions following a deal over Greek debt and improving market sentiment toward the stocks which have been hit by market volatility over the past year. They [...]
TNT accepts Sweetened £4.3bn UPS bid March 19, 2012 United Parcel Service will pay 5.2 billion euros (£4.31bn) for Dutch peer TNT in a deal that will make the U.S. company the biggest package-shipper in Europe with 45bn euros in global sales. TNT said on Monday its executive and supervisory boards unanimously supported UPS’s offer of 9.50 euros per share, up from an initial [...]
Premier Foods profit tumbles by 29pc March 19, 2012 Britain’s Premier Foods PLC (PFD.L) reported a 29 percent decline in profit from its ongoing businesses in 2011 and said it expected trading to remain challenging, impacted by high levels of promotional activity and cost inflation. The group, which owns brands such as Hovis, Mr Kipling and Batchelors, said that it made a trading profit [...]
Misys agrees £1.3bn deal with Vista March 19, 2012 British banking software firm Misys has agreed to be bought by private equity firm Vista Partners for £1.27bn after dismissing an all-share merger with a rival and a competing private equity suitor. Misys said it was recommending a 350 pence a share cash offer from Vista, a private equity group which has been targeting deals [...]
Thomas Cook shares jump after rejected offer reported March 16, 2012 Thomas Cook shares have jumped five per cent after it was reported today that the travel operator rejected a £400m funding deal backed by two leisure industry veterans. Chairman Frank Meysman dismissed the offer by former Airtours executives Terry Fisher and Clive Jacobs, despite the proposal having the support of existing shareholders and outside investors. [...]
Groupon UK given deadline to make changes March 16, 2012 Groupon pledged today to change the way it promotes offers after Britain’s trading watchdog said it had found breaches of consumer protection rules at the daily-deal company. This is the most recent blow to US-based Groupon Inc, which reported a net loss of $42.7m (£27m) in the fourth quarter, after a small profit had been [...]
New iPad not compatible with UK 4G March 16, 2012 Apple’s new iPad launched worldwide this morning, but despite being advertised as compatible with the faster 4G networks, the tablet’s new technology will only work in North America. Even though 4G networks are due to launch in the UK in late 2012, it will not be compatible with the latest iPad due to a difference [...]
FTSE 100 slips after oil prices drop March 15, 2012 Britain’s leading share index slipped on Thursday, weighed down by weakness in heavyweight energy stocks after recent gains, with investors also looking ahead to futures and option expiries. At the close, the FTSE 100 index was down 4.71 points, or 0.1 per cent. BP shares dropped 1.26 per cent, while Cairn Energy shares fell 1.46 [...]
