CITY MOVES | WHO’S SWITCHING JOBS December 15, 2010 Threadneedle Asset manager Threadneedle has hired Michael Langlois (pictured) as its head of wholesale distribution, Asia. He will begin work in January and will be working closely with Raymundo Yu. Langlois will be in charge of relationships with Asian financial institutions and also of dealings with global private banks. He joins the firm from Permal [...]
THE TIPSTER December 15, 2010 NOW that the Chinese inflation figures are out and the People’s Bank of China has once again refused to raise rates, fears that European commodity stocks might suffer on the back of slower Chinese growth have subsided slightly. This might offer an opportunity for the likes of gold miner Randgold Resources to bounce off the [...]
LISTED PRODUCT NEWS December 15, 2010 CREDIT SUISSE ETFS EXPANDING Credit Suisse announced yesterday that its exchange-traded funds (ETF) business has increased its assets under management by 45 per cent since the beginning of 2010, to a total of approximately $14.5bn. The global ETF industry currently manages approximately $1.2 trillion in assets, but according to Dan Draper, global head of ETFs [...]
Tesco faces a battle for Czech shop chain December 15, 2010 TESCO is lining up against Europe’s largest retailer Carrefour in the race to buy the Zabka retail chain. The pair are among four bidders pursing Zabka, which has 2,300 stores in the Czech Republic and Poland. “There are four bidders left, two strategic (investors) and two financial (investors),” a source close to the transaction said. [...]
Conran narrows its losses December 15, 2010 Luxury designer and restaurant firm Terence Conran is facing better fortunes, despite reporting losses this year. The firm reduced losses to £806,000, far lower than the £8m reported in 2009. Conran Holding’s fortunes were revived after it launched a value range in its London shops. Chief executive Roger Mavity said that the new line attracts [...]
Portmeirion in royal boost December 15, 2010 Shares in Portmeirion hit a 13-year high yesterday as the pottery manufacturer said it would smash profit forecasts for this year and expected to launch 250 new products in 2011, including a range of Royal Wedding items. Chairman Dick Steele said export sales to the US, Korea, Canada and Italy had been strong. Portmeirion bought [...]
How to make better use of your time December 15, 2010 ONE of the curses of the modern workplace is having too much to do in the time available for the work, and so time-management is one of the most important of skills. Contrary to much supposed wisdom, says Roger Trapp in his new book What You Need to Know About Business, the key is not [...]
SuperGroup hit by costs December 15, 2010 SUPERGROUP shares dived yesterday as a warning over the rising costs of materials spooked investors despite a healthy profit update. The company – which owns the popular Superdry brand – has seen its shares soar since they were floated at 500p in March – raising £395m to bankroll its expansion. It made an underlying pre-tax [...]
Inditex sees profit soar as emerging markets prosper December 15, 2010 THE world’s biggest clothing retailer Inditex announced a 42 per cent rise in nine-month net profit yesterday, buoyed by developing market growth and new store openings. Cash-rich Inditex, which launched online sales of items such as black net skirted cocktail dresses for around £40 for its flagship brand Zara in September, said sales grew 14 [...]
Negotiating your way to the bonus you deserve December 15, 2010 EVEN when times are bad, you can still persuade your boss to give you a good bonus if you go about it in the right way. Here are 10 tips. First, make it a one-time deal. Note that a bonus doesn’t increase overhead fixed costs since it’s just for performance during the period, the month, [...]
