Sehwag blasts new record December 8, 2011 CRICKET: India batsman Virender Sehwag smashed his way to a new one-day record after scoring 219 from 149 balls against West Indies in Indore. Sehwag’s remarkable innings, which included 25 fours and seven sixes, represents the highest individual score in ODIs, eclipsing Sachin Tendulkar’s unbeaten 200 against South Africa in 2010. India, who went on to [...]
Tullett’s COO to step down after 17 years December 8, 2011 INTERDEALER broker Tullett Prebon abruptly announced that its long-serving chief operating officer Steph Duckworth was leaving yesterday. Duckworth, who spent 17 years with the company after joining its predecessor entity Liberty in the 1990s, resigned yesterday, Tullett said, without specifying when he would go or who would succeed him. A person familiar with his departure [...]
Korhonen out at flagging Fidelity fund December 8, 2011 THE INVESTMENT chief who took over half of Anthony Bolton’s flagship Fidelity fund has left after a series of losses. Jorma Korhonen will be replaced by Jeremy Podger as manager of the £1.5bn Global Special Situations fund. Sudipto Banerji, a veteran Fidelity manager, will take over until Podger arrives from Threadneedle in March. Meera Patel [...]
GOLDEN ARCHES STILL SHINING December 8, 2011 McDonald’s last night reported a bigger-than-expected rise in November sales at established restaurants across the board. The world’s biggest hamburger chain said sales at restaurants open at least 13 months rose 7.4 per cent globally. In Europe, where the chain derives 40 per cent of revenue, same-restaurant sales rose 6.5 per cent.
Mulberry bags a big profit overseas December 8, 2011 MULBERRY, the “affordable luxury” fashion brand whose bags have adorned the arms of Kate Middleton and Kate Moss, yesterday reported a trebling of pre-tax profits to £15.6m. It also saw its half-year retail sales jump 47 per cent year-on-year, buoyed by soaring international demand for its designer handbags. The company reached total revenues of £72.3m, [...]
COMMENT ZOE STRIMPEL December 8, 2011 PICK the right It Girl and you’re in clover. For Mulberry, it was the Alexa satchel designed in honour of the style icon and TV presenter Alex Chung that hurled the company into the luxury retail stratosphere – profits quadrupled in 2010 thanks to that willowy fashionista. But it’s not just the Alexa Effect (yes, [...]
Cameron must stand up for the City – finance remains this country’s biggest asset December 8, 2011 FRANCE and Germany have sent a detailed letter to Herman Van Rompuy, the president of the EU Council, setting out their wish list ahead of the EU summit. Their desires include tighter rules on deficits, which they hope will calm the markets, but also – and predictably – proposals for a Eurozone financial transaction tax [...]
Private equity is being forced to face new reality December 8, 2011 Cheap money era is over, but there’s still opportunity THERE are those in private equity who like to pretend that our industry somehow escapes the laws of supply and demand. They would prefer investors to believe returns – at least when they are healthy – rest on the “magic touch” of fund managers, rather than [...]
Poetry and capitalism make a heroic couplet December 8, 2011 T.S. ELIOT was a banker, but that hasn’t stopped two poets from refusing to be shortlisted for this year’s prestigious, £15,000 Eliot Prize over a sponsorship deal with Aurum Capital, an investment firm specialising in funds of hedge funds. First Alice Oswald and now John Kinsella have given up their coveted places on the list. [...]
RAPID RESPONSES December 8, 2011 Chinese walls Terrific advice [Culture clash: Five tips for Western firms that want to do business with China, yesterday]. I’ve lived and worked in Greater China many times over the past 15 years. How I wish I read this article before my first trip. If anyone is skeptical about anything in the article, trust me, [...]
