World Cup to blame for drop in retail sales growth to three-year low July 14, 2014 Retail sales grew at their slowest pace for over three years in June, with a variety of factors including England’s early exit from the World Cup being blamed for shoppers keeping a tight grip on their purses. Total sales were up just 0.6 per cent compared to the same month last year, the British [...]
Bottom Line: The power of Super Mario is temporary July 10, 2014 EVERY now and then on Twitter, people used to link to a rather funny image about the Eurozone crisis. It was a circular chart with these steps going round and round in perpetuity: Crisis deepens –> Announcement of meeting to solve everything (stocks rise) –> Summit (stocks peak) –> Announced solution (champagne party) –> Solution [...]
Bottom Line: There’s still plenty of time to build on this bull run July 7, 2014 CRITICS of the government’s Help-to-Buy programme, which is often accused of doping up already-too-high house prices, sometimes refer to it as “Help-to-Sell”. The scheme, which either backs up or even contributes to mortgages, is certainly helping housebuilders to sell a few more properties and thus bolster their earnings. Such fortunes are reflected clearly in the [...]
Home comforts help Hamilton to reignite challenge for second title July 6, 2014 AT SILVERSTONE BRITAIN’S Lewis Hamilton stormed to victory in front of a jubilant home crowd at Silverstone yesterday, a result that he believes can mark a turning point in the battle for the Formula One world title. The British Grand Prix began with a dramatic first-lap crash involving Kimi Raikkonen’s Ferrari, though the Finn escaped [...]
Mario Draghi rips up the rulebook on European Central Bank minutes July 3, 2014 European Central Bank (ECB) boss Mario Draghi said yesterday that the bank’s monetary stance would remain unchanged for the coming month, as he unveiled a new system for communicating its policymakers’ thinking. From the start of next year, the euro area’s central bank will meet every six weeks, instead of monthly. The extra time period [...]
Bottom Line: How to lose friends and alienate people July 2, 2014 MIKE Ashley looked thoroughly bored at yesterday’s Sports Direct meeting, seemingly fed up with all the commotion surrounding its latest attempt to pay him a hefty bonus. One might have thought he’d be used to it. An extremely divisive figure, often ridiculed and reviled in the football world, the bolshie and controversial way by which [...]
Bottom Line: Henderson dares to dream of America June 30, 2014 HENDERSON, like so many others, took quite a battering from the financial crisis. When current boss Andrew Formica took over in November 2008, the Bishopsgate-based firm had lost around three-quarters of its value. Yet we are now, without wanting to tempt fate, in calmer waters – and the good ship Henderson appears to be steady. The fund [...]
City councillor’s last ditch bid to stop Heron being renamed Salesforce Tower June 30, 2014 A City of London councillor last night slammed the proposed renaming of the Heron Tower as “Salesforce Tower”, and called for a public meeting to debate whether permission should be granted. Tenants in the building, many of whom are angry at the suggested change, last week snubbed a renaming ceremony held at the tower. And [...]
Astrazeneca knocked by US regulator drug verdict June 26, 2014 UK pharma giant Astrazeneca was dealt a blow yesterday when US regulators knocked back its bid to gain accelerated approval for a new ovarian cancer drug. Astrazeneca’s pipeline is under particular scrutiny after chief exec Pascal Soriot boasted of a bright and innovative future while fighting off a £69bn takeover bid from US rival Pfizer [...]
Bottom Line: It’s time for Carpetright to put itself right June 24, 2014 Walking away from your labour of love can be a heartbreaking endeavour. Even worse, I’d imagine, when the company that you’ve spent decades building into a retail giant is down in the dumps. Philip Harris, now Baron Harris of Carpetright, is understandably keen to depart on a high note. After all, he’s been in the carpet [...]
