Fashion website Brand Alley bought out by management January 15, 2013 ONLINE fashion retailer Brand Alley has seen its UK website bought out by management in a multi-million pound deal. The clothes website, which sells discounted designer labels, was previously owned by News International – the UK newspaper arm of Rupert Murdoch’s News Corp – and its parent company Brand Alley France. News International – which [...]
Walmart to hire veterans January 15, 2013 WALMART, the largest private employer in the US and the world’s largest retailer, said yesterday it plans to hire 100,000 newly discharged veterans over the next five years, at a time when the US unemployment rate is at 7.8 per cent. It will buy an additional $50bn (£31bn) in US-made goods over the next decade [...]
Amplats plans mine closures in ops review January 15, 2013 ANGLO American Platinum yesterday spelled out a major overhaul of its South African operations, involving the divestment of a mine complex and the closure of several shafts that could lead to 14,000 job losses. As part of the review commissioned last February, Amplats will trim its Rustenburg operations into three mines, mothballing four high-cost shafts, [...]
Rio Tinto hits record global iron ore production in 2012 January 15, 2013 GLOBAL miner Rio Tinto hit a record 253m tonnes of global iron output over 2012, beating guidance as demand from China drove a price recovery. Rio had set a target of 250m tonnes for 2012, after posting output of 245m tonnes over the previous year. “Markets remain volatile, but our business continues to perform well,” [...]
Alliance Pharma raises forecast January 15, 2013 Pre-tax profits at speciality pharmaceutical company Alliance Pharma are expected to be ahead of current forecasts, it said yesterday in a trading update. Turnover is forecast to come in at £44.9m for 2012, a slight drop on the previous year, while a record increase of £1.1m in sales of Hydromol – the brand name for [...]
Colas wins London road deal January 15, 2013 A British-based subsidiary of Parisian firm Colas has won a £420m contract to upgrade and maintain roads, pavements, traffic signs, street lighting and road markings among others in central London. The contract, awarded by Transport for London, is for eight years and will start on 1 April. Colas is working with a consortium alongside Volker [...]
Chocolate sales soar at Lindt January 15, 2013 Swiss luxury chocolate maker Lindt reported a pick up in sales growth yesterday, as cash-strapped Europeans cheered themselves up with treats like Lindor pralines and edible Christmas tree decorations. Sales rose 7.3 per cent last year to SFr2.67bn (£1.79bn). It reported strong sales in Germany, France and Britain in its main European market, with only [...]
Markets sell Ashmore despite $1bn asset rise January 15, 2013 ASHMORE Group, the emerging market money manager, yesterday said it enticed more than $1bn (£622m) from investors in the last three months of 2012, led by increased demand for local currency and corporate debt funds. The FTSE 250-listed manager, spun out of Australian firm ANZ by billionaire Mark Coombs in 1999, hit $71bn in assets [...]
Christmas diners fail to make up for weather at Spirit Pubs January 15, 2013 CUSTOMERS returned to taverns operated by Spirit Pubs over Christmas, although the influx did not make up for lower-than-expected sales during October and November. The company, which split from Punch Taverns in 2011, blamed the continuing wet weather towards the end of last year for it missing expectations, although rising food sales provided a boost. Spirit [...]
Imagination wins TV deal January 15, 2013 BRITISH microchip designer Imagination Technologies has signed a licensing deal with Taiwanese technology company MediaTek, which will see Imagination’s designs used in some of the Asian firm’s digital TV products. The deal is expected to be worth single-digit millions, but is a crucial vote in confidence, Jefferies analyst Lee Simpson said, following recent market sentiment [...]
