CITY MOVES | WHO’S SWITCHING JOBS November 17, 2010 Cheyne Capital Management Cheyne Capital Management has appointed a new partner, after a period of new inflows and clients since 2009 and the launch of several funds. John Hyman will join the firm to develop its equity business, launch new products and generate research ideas. Hyman has 23 years’ experience in equities. He is moving [...]
Amgen eyes up £4bn deal November 17, 2010 SHARES in the Swiss drugmaker Actelion, which specialises in pulmonary hypertension drugs and has a market capitalisation of about $6.6bn (£4.2bn), were up yesterday morning on reports that the US biotech firm Amgen was studying a takeover offer. Actelion shares have gained 35 per cent since early October as takeover talk swirled, recouping most of [...]
Mothercare sees foreign sales beat UK November 17, 2010 MOTHERCARE posted a 22 per cent rise in first-half profit yesterday, with a strong performance overseas offsetting weak UK sales. The baby and mother goods retailer, with more than 1,200 stores in 54 countries, said it made an underlying pre-tax profit of £12.2m in the 28 weeks to 9 October. That compares with £10m in [...]
Paddy Power hires 500 staff in Dublin November 17, 2010 IRISH bookmaker Paddy has announced the creation of 500 new jobs at its Dublin headquarters, as its revenues rose. The chain said it saw net revenues in the last three months climb 17 per cent in the UK and 70 per cent in Australia. However in the Irish Republic they were up only nine per [...]
HMV exchanges contracts on £13.7m Oxford Street lease sale November 17, 2010 HMV yesterday announced that it had exchanged contracts on the disposal of the leasehold for its store at 360 Oxford Street to US fashion retailer Forever 21, for £13.75m. In a statement HMV said the money will be used to reduce debt. It said that it will also work hard to transfer sales to its [...]
TED BAKER SEES REVENUE JUMP ON OVERSEAS SUCCESS November 17, 2010 SHOPPERS flocking to Ted Baker for its butterfly knitwear and military-style coats helped the fashion chain post a 20 per cent jump in revenues for the three months to November. The retailer said sales were 8.6 per cent higher than the same time last year and it was “encouraged” by its new international stores.
Securitas eyes new UK deals November 17, 2010 THE chief executive of Securitas, one of the world’s largest security companies, is warning that the global threat posed by terrorism is escalating while vigilance at airports means travellers will have to pay the price with longer queues. The company Alf Goransson leads provides security at four airports in the UK, including Liverpool and the [...]
BoA is forced to repay $500m in Lehman assets November 17, 2010 BANK of America Corp was ordered by a US judge to return $500m (£314.1m) of deposits it seized from Lehman Brothers Holdings shortly after Lehman’s record bankruptcy. US Bankruptcy judge James Peck said Bank of America violated federal law when it “brazenly” seized the deposits, after having taken advantage of Lehman’s weakened condition in the [...]
The Tube boss who is battling to rebuild the world’s oldest network November 17, 2010 It has been a tough few months for the new managing director of London Underground. Mike Brown, a company veteran who returned in March, faces his fourth strike over the axing of ticket office jobs in a matter of weeks. Tube unions RMT and the Transport Salaried Staffs’ Association say getting rid of 800 ticket [...]
In English for the first time, read The Truth About IKEA November 17, 2010 WITH an insider’s knowledge, Johan Stenebo’s controversial book is a remarkable, personal view inside a company that overtook Argos as the UK’s largest home furnishings retailer in 2009 but, after 67 years, only disclosed its profits for the first time last month (worldwide net profit £2.2bn in the year to 31 August 2009). In these [...]
