BNY MELLON ANNOUNCES BOAT RACE MERGER February 8, 2012 CHANGE IS afoot for one of the UK’s most traditional sporting fixtures, after Bank of New York Mellon yesterday stepped in to sponsor The Boat Race. For the first time from 2015, the women’s event, whose sponsorship by BNY Mellon company Newton Investment Management remains unchanged, will leave Henley to take place on the same [...]
Thomas Cook puts India arm on sale as losses rise February 8, 2012 THOMAS COOK said yesterday it has managed to hold onto market share with winter and summer bookings “broadly stable”, despite reporting widening losses as it struggles to rein in its financial woes. The holiday firm, which was rescued by its banks after a cash crisis late last year, said underlying operating losses had more than [...]
EasyJet wins bonus support February 8, 2012 EASYJET’S war of words with major shareholder Sir Stelios Haji-Ioannou shows no signs of a cease-fire as the no-frills airline approaches its shareholder meeting later this month. The carrier yesterday welcomed support from the Association of British Insurers and investor group ISS for its executive pay package. Advice from these influential groups gives easyJet a [...]
SALES SOAR ACROSS RALPH LAUREN BRANDS February 8, 2012 DESIGNER Ralph Lauren reported better-than-expected results for the holiday quarter yesterday, helped by double-digit sales growth at its own stores as well as increased sales to department stores. Ralph Lauren, with brands ranging from mid-tier basics to high-end luxury labels such as Polo, Club Monaco and Chaps, said revenue rose 17.2 per cent in its [...]
Emerging markets push comes too late February 8, 2012 WHEN times get tough, branded products are the first things to go. British consumers know there is little difference between Fairy and a supermarket’s own-label washing up liquid. The trend is more pronounced among younger consumers, who will protect luxuries such as their iPhone and designer clothes by buying staples from the supermarket economy ranges. [...]
Reckitt looks for growth in new regions February 8, 2012 BRITISH consumer goods group Reckitt Benckiser is to launch a major sales push into fast-growing emerging markets, with a focus on health and hygiene brands like Nurofen and Dettol, to offset sluggish European and North American markets. New chief executive Rakesh Kapoor, who took over last September after Bart Becht’s shock decision to retire, said [...]
CITY VIEWS: DO YOU HAVE ANY SYMPATHY WITH RBS BOSS STEPHEN HESTER? February 8, 2012 BOB EATON | NEWHAM BOROUGH “Absolutely none. He isn’t the only one who took risks that didn’t work out but he should definitely take some blame. They have crippled the public sector.” JOHN CLINCH | HAYES ASSOCIATES LTD “I have no sympathy for Hester; he is partially responsible for some failures at the bank. He [...]
Building firms stall on public work worries February 8, 2012 CONSTRUCTION activity stagnated in the final quarter of 2011, the Royal Institute for Chartered Surveyors (RICS) revealed yesterday, with firms expressing doubts that the government’s plans to boost private investment in infrastructure will work. The construction market survey showed a net balance of seven per cent of firms facing falling workloads, compared with one per [...]
FACT CHECKER | WITH JAMES WATERSON February 8, 2012 “BORIS Johnson has admitted cutting 1,700 police officers. If I am elected, I will reverse his cuts,” pledges Labour’s mayoral candidate Ken Livingstone. Crime is a key issue for swing voters and Ken’s team hope to portray Boris as weak on policing. But how would Ken fund the extra police? And where does the figure [...]
CITY A.M. | SHADOW MPC SPLIT ON QE VOTE February 8, 2012 ALLISTER HEATH | CITY A.M. “Hold rates and QE – the economy has shown some signs of beginning to recover and manipulating aggregate demand further won’t work. However it is important to watch the money supply, which slowed sharply last quarter.” SIMON WARD | HENDERSON “Stop QE. The economy is lifting and inflation is unlikely [...]
