DP World sees 2013 London ports launch October 4, 2011 DUBAI-BASED ports operator DP World expects its new London Gateway deep-sea container port to be operational by the fourth quarter of 2013, it said yesterday, with spending on the project set to continue apace despite the economic gloom. London Gateway, located about 25 miles east of central London on the north bank of the river [...]
Heritage deal marks first move on Libyan oil market October 4, 2011 HERITAGE Oil has bought control of a Benghazi-based oil services firm, striking the first upstream deal in Libya since the overthrow of Muammar Gaddafi and building on the British explorer’s reputation as a first mover into political hot-spots. Heritage said yesterday it had bought 51 per cent of Sahara Oil Services Holdings for $19.5m (£12.7m). [...]
Carillion’s Eaga deal lifts group October 4, 2011 SUPPORT services provider Carillion, said yesterday that it was on track to deliver substantial growth in 2012, helped by the £306.5m acquisition of energy-saving firm Eaga and an increase in government sector outsourcing. In its third-quarter update, the FTSE-250 group said it had won work worth up to £670m since the half-year and reiterated its [...]
St Ives enjoys earnings jump October 4, 2011 BRITISH printing firm St Ives posted a 28 per cent rise in annual profits yesterday, helped by its shift towards the higher-margin marketing services unit, adding that it will look at more acquisitions in the business. The group, which prints 160m books each year from the Bible to bestsellers like Harry Potter, also raised its [...]
Europe’s airlines hit by turbulence in US October 4, 2011 EUROPEAN airline shares followed US counterparts in a downward spiral yesterday as investors’ confidence in the sector ebbed away. International passenger numbers across airlines dropped in August, a month that traditionally provides a boost with summer holidays in full swing. Air France-KLM was down more than nine per cent as the sector took a hammering [...]
Aldi revenues up as shoppers eye deals October 4, 2011 PROFITS at Aldi have jumped as British shoppers increasingly hunting for ways to cut their shopping bills. Discount supermarkets Aldi and Lidl have stolen market share from the likes of Tesco, as “the squeezed middle” – which Tesco believes constitutes 80 per cent of its customer base – look to cut down on household expenditures. [...]
MULBERRY AIMS TO BE BIG IN JAPAN WITH A RAFT OF NEW OPENINGS October 4, 2011 MULBERRY has clinched a distribution deal that will see its products sold in Japanese department stores and flagship shops opened in Tokyo and Osaka. The company said yesterday it had agreed a deal with a joint venture owned by Club 21 and Mammina, a unit of Japanese department store chain Isetan Mitsukoshi Holdings. The 10-year [...]
Overseas sales boost Walker Greenback October 4, 2011 LUXURY wallpaper and soft furnishings group Walker Greenbank yesterday reported a 13 per cent rise in profits thanks to expanding international sales. The group held two big launches early in the year for Morris & Co and the Harlequin Momentum collection, which fuelled a rise in sales. Group revenues rose 11 per cent to £37.4m, [...]
Gucci and Tiffany in China bank spat October 4, 2011 European luxury-goods conglomerate Gucci Group and American jewellery house Tiffany have each alleged in federal court that major Chinese state-owned banks are maintaining bank accounts for counterfeiters in China who are shipping fake designer goods into the US. The banks – Bank of China, China Merchants Bank and the Industrial and Commercial Bank of China [...]
Volvo revamps truck business October 4, 2011 Swedish truck maker Volvo said yesterday it will shake up its truck business. Under the revamp, sales and marketing of all of the truck companies will be put into three regional units. Responsibility for the group’s joint ventures will be organised in a new unit, Truck Joint Ventures, under the leadership of Par Ostberg, who [...]
