CITY VIEWS: HOW MUCH OF YOUR CHRISTMAS SHOPPING DID YOU DO ONLINE? January 19, 2012 GAURANG MELATA | AVIVA “I always buy online. It’s flexible, you cut out the middleman and you don’t have to try on things in store and then queue to pay for them.” NOEL PATTERSON | PATTERSON & JAMES CONSULTING “I shopped mainly on Amazon this year. There are no drawbacks to shopping online. You have [...]
Car industry boosts UK as exports jump January 19, 2012 CAR MANUFACTURING expanded quickly in the UK last year, with exports accounting for a record share of output, figures from the Society of Motor Manufacturers and Traders (SMMT) revealed yesterday. This increase shows the sector “continues to lead the manufacturing recovery,” said the SMMT’s Paul Everitt. However, output of commercial vehicles declined and engine production [...]
Motor sector is no longer such a joke January 19, 2012 IN the Christmas Top Gear special, Jeremy Clarkson and co travel across India in a trio of clapped out British motors: an unreliable Jaguar, an ageing Rolls-Royce and an original Mini. The running joke is that Britain has little to offer the Indians – or anyone for that matter – in the way of cars [...]
Kesa bears burgeoning Comet losses January 19, 2012 WORSE-than-expected sales at Comet this Christmas will cost its owner Kesa £15m in writedowns as the electronics group nears completion of a deal to sell the troubled UK chain. Europe’s second largest electricals retailer will complete the sale of Comet next month to private equity buyers OpCapita for a nominal £2 together with a cash [...]
SABMiller beer volumes rise January 19, 2012 SABMiller has reported a three per cent rise in beer volumes in the last three months of 2011, as growth in African and Latin American markets helped offset falls in North America and Europe. The world’s second-largest brewer and maker of Miller Lite, Peroni and Grolsch said beer price rises helped the group to push [...]
Peacocks axes 249 jobs as Pumpkin Patch folds January 19, 2012 THE crisis-hit fashion retailer Peacocks is set to cut 249 staff at its headquarters in Cardiff, administrator KPMG announced yesterday. The administration of Peacocks, which owns 611 UK stores and employs over 9,000 staff, is one of the biggest retail failures since Woolworths collapsed in 2008. Chris Laverty, from KPMG, said the stores will continue [...]
Deal for Endemol as lenders approve €2.8bn debt-for-equity restructuring January 19, 2012 THE TV production company behind Big Brother and Deal or No Deal yesterday announced “an important milestone” as its lenders agreed to overlook millions of euros of debt in exchange for equity. Endemol received more than the required two thirds support from its creditors – including Barclays, RBS, Apollo and Centrebridge – who will hold [...]
Low sales lead to dismal quarter at Sony Ericsson January 19, 2012 MOBILE phone maker Sony Ericsson suffered a staggering pre-tax loss of €154m (£128.7m) in the final three months of 2011, down from a €39m income in the same quarter last year. Around €93m of the loss was due to restructuring plans approved in December, but the quarter was also dragged down by a 16 per [...]
Vodafone verdict in India today January 19, 2012 India’s Supreme Court will today announce a long-awaited judgement on Vodafone’s appeal against a $2.2bn (£1.4bn) tax bill arising from the telecoms group’s $11.2bn purchase of a majority stake in Hutchison Essar, India’s second largest mobile phone operator. If Vodafone’s appeal is unsuccessful, it could see its charge double to $5bn due to a penalty [...]
Pearson points to high profits January 19, 2012 Pearson, the British publisher behind Penguin Books and the Financial Times, yesterday raised its 2011 profit expectations for the third time in as many months due to a boom in digital services and emerging markets, which should bring in revenues of £2bn and £600m respectively. Earnings per share are likely to be over 85p, up [...]
