Retailers warn politicians red tape is stifling social mobility January 30, 2013 RETAILERS last night urged politicians in Westminster to avoid stifling the work opportunities it offers to people from less privileged backgrounds. On the evening that the British Retail Consortium (BRC) held its annual parliamentary reception, the group called on government to cut back on red tape. Retail is “one of the most meritocratic sectors of [...]
Insider trading case kicks off January 30, 2013 AN unemployed man has gone on trial at Southwark Crown Crout charged with six counts of insider trading related to shares traded on the London Stock Exchange. Richard Joseph, 43, is accused of trading in the shares of six publicly listed companies between September 2007 and July 2008 allegedly using price sensitive information given to [...]
H&M eyes further expansion as earnings drop on higher costs January 30, 2013 H&M, the Swedish fashion giant, said it plans to press ahead with ambitious expansion plans this year as it reported an unexpected drop in fourth quarter earnings yesterday. The world’s second largest retailer said it will open 325 stores this year, with most planned in China and the US, up from 304 last year. It [...]
Police forces ditch G4S deal January 30, 2013 THREE police forces have axed plans to outsource support work to G4S, in a blow to the company just months after its botched Olympics contract. Bedfordshire, Hertfordshire and Cambridgeshire police forces had hoped to save £73m through a deal that handed G4S human resources, finance and IT work, but will now look at other ways [...]
New car recall woe at Toyota January 30, 2013 JAPANESE car maker Toyota will recall nearly 1.3m cars globally for faulty airbags and windscreen wipers, the firm announced yesterday. The recall, which is not thought to affect UK customers, includes left-hand drive models of certain Corolla and Corolla Matrix vehicles, as well as some Lexus IS cars. It is the third major Toyota recall [...]
MPs want info on West Coast January 30, 2013 MPs have today urged the Department for Transport to reveal exactly what went wrong during the botched franchising competition for the West Coast Main Line rail route. The transport select committee said it wants to know how much the failed process has cost and hear more details of how department staff ended up with wrong [...]
Route One founder speaks out in support of Bumi board January 30, 2013 IN THE run-up to the board showdown with Nat Rothschild on 21 February, Bumi shareholder and hedge fund Route One spoke out in support of the board yesterday, with founder Ashish Pant telling City A.M. that the coal miner’s proposal for the future of the firm was the “lower-risk option”. US-based Route One, which was [...]
Toymaker Hornby says sales back on track January 30, 2013 HORNBY, the maker of toy trains and Scalextric sets, said yesterday it expects full-year profits to be in line with expectations after issuing a surprise profit warning in September. The company, which is expected to break-even in the year to March 2013, also said that the majority of its 2012 branded goods that it failed [...]
Renishaw helped by China January 30, 2013 Manufacturing group Renishaw has posted an 18 per cent rise in revenues to £174.2m for the last six months of 2012, giving it a 39 per cent jump in adjusted pre-tax profits to £42.3m. The company hailed a rise in orders from China for the boost, which has helped it hike its dividend ten per [...]
Architect Aukett swings into black January 30, 2013 Aukett Fitzroy Robinson, the Aim-listed architect practice, yesterday said it had swung to a profit of £210,000, in spite of wealthy clients’ reluctance to build during a period of economic turbulence. Revenues at the firm, known for restoring Ashdown House in Victoria, rose six per cent to £9.15m.
