Microsoft suing Comet over sold counterfeit CDs January 4, 2012 MICROSOFT yesterday launched legal proceedings against electrics retailer Comet, claiming that the group has created and sold more than 94,000 counterfeit Microsoft recovery CDs. The discs were sold to customers who bought computers loaded with Windows Vista or XP operating systems. Comet denies any breach of copyright.
Retailers tumble as Next warns of anaemic growth January 4, 2012 CLOTHING retailer Next admitted to “disappointing” sales at its high street stores and warned yesterday that growth this year would be modest, citing concerns over the Eurozone debt crisis and rising unemployment. Its shares fell by four per cent yesterday after chief executive Lord Simon Wolfson said it was on track to meet profit forecasts for [...]
ANALYST VIEWS: DO NEXT’S RESULTS SPELL MORE GLOOM FOR THE SECTOR? January 4, 2012 JOHN STEVENSON | PEEL HUNT Next has delivered second half trading in keeping with sales and profit before tax forecasts overall, albeit store sales were slightly disappointing given the weak snow comparative. As a likely outperformer, Next’s statement does not set a positive tone for competitor updates. MATTHEW MCEACHRAN | SINGER CAPITAL MARKETS Although margin [...]
Festive cheer at John Lewis as sales jump January 4, 2012 HIGH street bellwether retailer John Lewis has hailed “outstanding” sales in the run-up to Christmas but warned of a challenging year ahead as economic conditions remain volatile. Total sales in the five weeks to 31 December surged to almost £596m, up 9.3 per cent compared with last year, while like-for-like sales were up 6.2 per [...]
Flood of ECB cash stagnates as bank deposits hit new high January 4, 2012 DEPOSITS at the European Central Bank (ECB) hit another record high yesterday, indicating that much of the new liquidity created by the central bank is still stuck in its own coffers rather than boosting the real economy. Funds in the ECB’s deposit facility edged up €69m to hit €453bn yesterday, suggesting that banks are not [...]
Weak demand for Berlin’s debt at record low yield January 4, 2012 GERMANY saw muted demand at an auction of its ten-year debt yesterday after Berlin refused to accept offers that were not at record low yields. But the UK had little trouble offloading £3.75bn’s worth of five-year debt. The sale, which saw Britain pay an average yield of 1.75 per cent, was two times over-subscribed. By [...]
STREEP IN LONDON FOR THATCHER PREMIERE January 4, 2012 Oscar-winning actress Meryl Streep appeared on the red carpet at last night’s premiere of The Iron Lady, held at the Southbank’s British Film Institute. Streep said that filming this biopic of the former Conservative Prime Minister Margaret Thatcher’s life and career gave her respect for Thatcher’s “stamina, mental capacity, her lioness’ steadfastness and her vehemence”, [...]
BA HUMBUG January 4, 2012 Man United complete their festive programme with another defeat as Newcastle’s in-form striker hands Man City the advantage in Premier League title race NEWCASTLE UTD 3 vs MANCHESTER UTD 0 MANCHESTER UNITED manager Sir Alex Ferguson last night insisted there was no need to panic despite seeing his side slip to a second consecutive defeat [...]
Care’s despair at England axe for drink-drive arrest January 4, 2012 ENGLAND and Harlequins scrum-half Danny Care admits he is “devastated” after being excluded from the Six Nations squad for being arrested on suspicion of drink-driving. The New Year’s Day incident came just three weeks after the 25-year-old, who was tipped to start the tournament as first-choice, had been arrested for being drunk and disorderly. Interim [...]
Stadium rights on ice as Virgin signs up Toon shirt deal January 4, 2012 NEWCASTLE could be forced to shelve plans to sell their stadium naming rights after agreeing a shirt sponsorship deal with Virgin Money. The two-and-a-half-year contract is understood to be worth around the same as their previous £2.5m per season deal with Northern Rock. Virgin Money, which officially completed its buyout of Northern Rock earlier this [...]
