AN AWKWARD MOMENT AS BANK CHIEFS RETURN TO PARLIAMENT October 11, 2011 BRITAIN’S bank chiefs were lucky enough to be called before another parliamentary committee today, following several outings already this year. Seated in the stuffy House of Lords hearing room, banking maestros were put through their paces on topics ranging from capital buffers to some “curious nexuses” that HSBC chair Douglas Flint wanted to discuss. Is [...]
N Brown sees profits lift as it thinks big October 11, 2011 HOME shopping clothes retailer N Brown yesterday reported a half year profits rise as its investment in brands for larger men and women paid off. In the half-year to August, sales were up four per cent to £364m, with profits surging six per cent to £45m. The Manchester-based company lifted its dividend five per cent [...]
High street brands in fight for middle ground October 11, 2011 ACCORDING to YouGov’s Household Economic Activity Tracker, 55 per cent of UK consumers are more price conscious than they were a month ago, compared to only two per cent who are less price conscious than in September. With the uncertainty about the economy continuing and people keen to make sure they are not overspending, winning [...]
ANALYST VIEWS: CAN N BROWN CONTINUE TO BUCK THE RETAIL GLOOM? October 11, 2011 RAMONA TIPNIS | SHORE CAPITAL This is a good set of results, which are in line with our forecasts and we are not changing our full year estimate. Revenue growth has reflected trends seen across the sector with the younger customer spending more – the under 45 customer saw revenue growth of 14 per cent. [...]
Sainsbury’s in £1m deal for digital firm October 11, 2011 SAINSBURY’S has delved further into the market for consumer digital downloads, paying £1m to buy Global Media Vault (GMV) from MBL Group. The supermarket already had a strong relationship with GMV, through an online service launched in November last year that enables customers to buy music and other entertainment products. Yet Sainbury’s is now moving [...]
Aldi market share lifts in tough climate October 11, 2011 BUDGET supermarket groups are growing sales faster than rivals in Britain’s grocery sector as cash-strapped shoppers battle to preserve their income by trading down, market research showed yesterday. Kantar Worldpanel said grocery sales rose 5.1 per cent year-on-year in the 12 weeks to 3 October, up from 4.5 per cent in the previous 12 week [...]
Leahy looks for £500m for his China venture October 11, 2011 FORMER Tesco boss Sir Terry Leahy is looking to raise up to £500m to invest in Chinese shopping centres with the support of a former colleague. Leahy and Paul Mercer are working with stockbroker Numis to handle a fundraising in the hope of capitalising on China’s economic growth, which has remained strong despite the global [...]
Did you hear the one about the comedy club IPO? October 11, 2011 THE COMEDY group that helped launch the careers of Peter Kay and Eddie Izzard is planning an IPO to fund its ambitious growth plans. Jongleurs will raise new funds in an AIM listing in the next 18 months, with a new TV station and a string of new comedy clubs on its wish-list. The company [...]
Turmoil drags down funds at Ashmore October 11, 2011 SHARES in investment manager Ashmore dropped yesterday after a weak September performance at some of its funds. Ashmore’s Emerging Market Liquid Investment fund fell eight per cent and its Local Currency Debt fund dropped 10.2 per cent last month, according to analysis published yesterday by Peel Hunt. Mark Williamson at Peel Hunt said he was [...]
Gulliford sells PR firm to Lord Bell’s Chime October 11, 2011 SIMON Gulliford has sold his consulting firm to Lord Bell’s Chime Communications in a deal that could net the marketing boss up to £5m. Chime will buy Gulliford Consulting for an initial £2.5m, with a further £2.25m performance related payment deferred. The deal for the entire company is mostly comprised of cash, with a small amount [...]
