Paphitis reveals lingerie plans November 4, 2010 Dragons’ Den entrepreneur Theo Paphitis has said that his new lingerie range will be launched under the name Boux Avenue. The mid market brand will be launched at Shopping centres including the Trafford in Manchester. The brand will be up against La Senza, which Paphitis used to own, as well as Marks and Spencer and [...]
Swiss Re will repay Buffett loan earlier November 4, 2010 SWISS Re said it would repay a costly loan from US billionaire Warren Buffett early, as it had replenished its capital to comfortable levels since taking a hit during the global credit crisis. The world’s second-biggest reinsurer almost doubled third-quarter profit, comfortably beating analysts’ forecasts. Swiss Re said yesterday it would not be penalised for [...]
Pay code delay no problem, says FSA November 4, 2010 THE FSA has insisted that the coming bonus season will go smoothly despite late publication of the remuneration code which will govern payments. The guidelines have to comply with the Committee of European Banking Supervisors (CEBS) regulations, which have been delayed by a month to around 10 December. Banks will have to comply with the [...]
Starbucks raises forecasts as customers flock back November 4, 2010 STARBUCKS raised its full-year profit forecast yesterday, boosting investor confidence its turnaround plan has ushered in a new phase of growth. Rising prices and improving traffic in its stores gave the leeway to hike its fiscal 2011 outlook. US sales at restaurants open at least 13 months jumped eight per cent in the fiscal fourth [...]
Adidas bullish on growth as sales rise again November 4, 2010 THE world’s second biggest sports goods maker, Adidas, yesterday announced an upbeat outlook for 2011. Adidas forecasts a rise of 10-15 per cent in earnings per share in 2011. The company also reported strong sales in the US and eastern Europe of €3.47bn (£3.05bn) in the third quarter, beating analysts’ forecasts and cheering investors. Adidas [...]
Customer numbers up at easyJet November 4, 2010 Budget airline easyJet said yesterday its passenger numbers rose 8.6 per cent in October to nearly 4.6m. Its flights were a total of 88.2 per cent full last month, up from 86.8 per cent in the same period last year, pushing the annual rate up to 87.1 per cent. In the year to October 2010, [...]
Tube union in talks to halt strikes November 4, 2010 The RMT union met with London Underground bosses yesterday to try and head off another city-wide strike over staffing levels in ticket offices. Transport for London (TfL) said the talks were constructive, while a spokesperson for mediation body ACAS said the two sides had arranged to meet again next week as part of ongoing negotiations. [...]
Apache profit surges 74 per cent November 4, 2010 Apache, the largest US independent oil and gas producer, posted a 74 per cent jump in quarterly profit as natural gas and crude oil prices rose from a year earlier and output grew. Third-quarter earnings at energy companies such as Apache have been fattened by a 13 per cent increase in US crude oil prices [...]
KRAFT PROFITS BOLSTERED BY CADBURY November 4, 2010 KRAFT Foods chief executive Irene Rosenfeld reported better-than-expected quarterly profit yesterday and affirmed its outlook for this year and next, with growth fuelled by its acquisition of Cadbury. Kraft’s net income was $754m, or 43 cents per share, in the third quarter, down from $824m, or 55 cents per share, a year earlier.
Emerging markets boost RSA figures November 4, 2010 GROWTH in emerging markets helped revenue at RSA Insurance Group jump by just under 10 per cent in the third quarter. Net written premiums rose to £5.5bn in the nine months to 30 September, up from £5.03bn a year earlier. The insurer announced strong numbers in emerging markets with net written premiums up 19 per [...]
