Key week for Burberry amid China worries October 9, 2011 INVESTORS will be eagerly awaiting first half figures from Burberry this Wednesday, as the luxury fashion house seeks to reassure that its expansion remains on track despite uncertainty in key Asian markets. Amid general market turmoil and fears over a slowdown in the Chinese economy, which accounts for 15 per cent of the company’s retail [...]
Hedge funds see sharp drop in asset value October 9, 2011 HEDGE funds suffered a sharp drop in the value of their assets this summer as global market turmoil made it far harder to pick winning strategies. The average hedge fund fell by 2.8 per cent in September and 5.5 per cent over the quarter, according to Hedge Fund Research. It marked the industry’s worst performance [...]
Spirits dampened by struggles in Asia but strong sales should boost morale October 9, 2011 THERE’S no need to panic just yet. Shares in Burberry may be down 25 per cent over the past ten days alone, but the drop is put into context by the massive 900 per cent they’ve risen since their lowest point during the 2008 crisis. And rather than retreating at the first sign of a [...]
Call for RBS to drop fees on small business loans October 9, 2011 FORMER chancellor Nigel Lawson has called on the Treasury to force Royal Bank of Scotland to offer loans to small businesses on a not-for-profit basis. Lord Lawson of Blaby yesterday said increased lending to small businesses by RBS and, to a lesser extent, Lloyds – both state-owned – would boost the economy alongside Bank of [...]
Women start to make their presence felt on the board, says Lord Davies October 9, 2011 THE BOARDROOMS of Britain are becoming more female, says former trade minister Lord Davies, with recent appointments such as Karen Witts to the board of Wolseley helping to meet his target of 25 per cent female FTSE 100 boards by 2015. The full figures will be revealed at a Downing Street event on Wednesday, where [...]
Metro boss says he won’t renew his contract despite shareholder support October 9, 2011 ECKHARD Cordes, chief executive of German retailer Metro, has said he no longer wishes to renew his contract, just weeks after winning support from the group’s top shareholder. Cordes had seemed in danger of losing his job last month after reports that he had fallen out of favour with some supervisory board members, who were [...]
Business jet industry is hoping for 2012 revival October 9, 2011 THE business jet industry is expecting 2012 to mark its first year of growth in deliveries since the financial downturn, but more pain could still be ahead for the low end of the segment that has been hardest hit. “2011 did not play out as we expected to see the growth and orders being placed, [...]
Sainsbury’s to join price match battle October 9, 2011 SAINSBURY’S will turn up the heat this week in the price war between the UK’s leading supermarkets with a pledge to match thousands of prices at rivals Tesco and Asda. The supermarket announced yesterday that it will start its “brand match” campaign this Wednesday, just two weeks after Tesco launched a £500m “Big Price Drop” [...]
Time for bank bondholders to face the sword October 9, 2011 EUROPE has too many broken banks and the time has come to fix them. With Dexia’s woes laid bare, it must now be apparent to even the most myopic politician that the European Banking Authority’s 2011 stress tests were a failure. The phoney war is over; we need decision making. With sovereign stress showing no [...]
Vodafone weighs into 4G row October 9, 2011 Vodafone yesterday launched a broadside against 3, its smaller rival in the British mobile market, over the increasingly controversial auction of next-generation 4G mobile spectrum. Vodafone’s UK chief executive Guy Lawrence told the Sunday Telegraph 3 was “running around the playground complaining that they’re being bullied by the older boys,” when in fact 3 sold [...]
