Footfall down on UK high streets October 9, 2011 The number of shoppers hitting UK high streets in September was down 1.2 per cent compared with the same month last year, according to retail analysts Springboard. Cities fared worse than towns overall as the latter were given a boost by a move towards more local shopping. Excluding cities, footfall was up 1.3 per cent. [...]
Hedge fund at war with tax man over £35m bill October 9, 2011 LONDON hedge fund Cheyne Capital is locked in dispute with HM Revenue & Customs over allegations it has failed to pay £35.3m in tax. The government agency is demanding £29.8m in pay-as-you-earn tax and has lodged a county court claim for £5.5m in national insurance contributions, according to statements in Cheyne’s accounts for the year [...]
LOVE ME DO October 9, 2011 Sir Paul McCartney married Nancy Shevell yesterday at the same London registry office where the former Beatle wed his first wife Linda in 1969. The marriage, at Old Marylebone Town Hall, is the third for McCartney, who is now 69. Ringo Starr, the only other surviving member of the Beatles, was among the guests.
Key week for Burberry amid China worries October 9, 2011 INVESTORS will be eagerly awaiting first half figures from Burberry this Wednesday, as the luxury fashion house seeks to reassure that its expansion remains on track despite uncertainty in key Asian markets. Amid general market turmoil and fears over a slowdown in the Chinese economy, which accounts for 15 per cent of the company’s retail [...]
Hedge funds see sharp drop in asset value October 9, 2011 HEDGE funds suffered a sharp drop in the value of their assets this summer as global market turmoil made it far harder to pick winning strategies. The average hedge fund fell by 2.8 per cent in September and 5.5 per cent over the quarter, according to Hedge Fund Research. It marked the industry’s worst performance [...]
Spirits dampened by struggles in Asia but strong sales should boost morale October 9, 2011 THERE’S no need to panic just yet. Shares in Burberry may be down 25 per cent over the past ten days alone, but the drop is put into context by the massive 900 per cent they’ve risen since their lowest point during the 2008 crisis. And rather than retreating at the first sign of a [...]
Call for RBS to drop fees on small business loans October 9, 2011 FORMER chancellor Nigel Lawson has called on the Treasury to force Royal Bank of Scotland to offer loans to small businesses on a not-for-profit basis. Lord Lawson of Blaby yesterday said increased lending to small businesses by RBS and, to a lesser extent, Lloyds – both state-owned – would boost the economy alongside Bank of [...]
Women start to make their presence felt on the board, says Lord Davies October 9, 2011 THE BOARDROOMS of Britain are becoming more female, says former trade minister Lord Davies, with recent appointments such as Karen Witts to the board of Wolseley helping to meet his target of 25 per cent female FTSE 100 boards by 2015. The full figures will be revealed at a Downing Street event on Wednesday, where [...]
Metro boss says he won’t renew his contract despite shareholder support October 9, 2011 ECKHARD Cordes, chief executive of German retailer Metro, has said he no longer wishes to renew his contract, just weeks after winning support from the group’s top shareholder. Cordes had seemed in danger of losing his job last month after reports that he had fallen out of favour with some supervisory board members, who were [...]
Business jet industry is hoping for 2012 revival October 9, 2011 THE business jet industry is expecting 2012 to mark its first year of growth in deliveries since the financial downturn, but more pain could still be ahead for the low end of the segment that has been hardest hit. “2011 did not play out as we expected to see the growth and orders being placed, [...]
