Ontario fund sells Hammerson stake July 7, 2011 ONTARIO Teachers’ Pension Plan, Canada’s largest pension investor, sold its 12 per cent stake in Hammerson yesterday for £396m. Cadillac Fairview, owned by the Ontario fund, sold its 85.6m shares in the Anglo-French property developer at 463p, Goldman Sachs Group said in a statement yesterday. Cadillac Fairview announced on Wednesday it was selling the shares [...]
Punch fires starting gun on demerger July 7, 2011 PUNCH Taverns yesterday confirmed that the demerger of its “good” managed estate from its “bad” and highly-indebted tenanted pubs business will take place at the beginning of next month. The company’s managed division will be known as Spirit, and the tenanted division will retain the Punch name. They will be separately listed and start trading [...]
Back and on a mission July 7, 2011 Theo Fennell is a man on a mission to roll back the years to the days when his jewellery was draped around the necks of celebrities such as Elton John and Victoria Beckham. He left the company in 2008 after a boardroom dispute and his departure ushered in a bleak period of falling sales, with [...]
Theo Fennell sets sights on profit fuelled by China July 7, 2011 JEWELLERY designer Theo Fennell has pledged to take his company back into the black, with China a main driver of sales. In the 12 weeks to the end of June, like-for-like retail sales rose 15 per cent, the company said in an update. That followed a dire Christmas in which the jeweller was hit by [...]
Dunelm lift bucks the retail gloom July 7, 2011 HOMEWARES retailer Dunelm has bucked the gloom engulfing Britain’s retail market, reporting yesterday an improvement in sales as it benefits from a low-price focus and breadth of range. The group, which runs more than 100 mostly out-of-town stores selling items such as kitchenware, lighting, bedding and rugs, said sales at shops open at least a [...]
WH Smith sales falling but its profits weather the storm July 7, 2011 WH Smith said its sales are falling but profit is on target thanks to cost cutting and the success of its travel outlets. Smith’s trading update yesterday showed like-for-like sales in the 18 weeks to 2 July are down four per cent. The company says it has been able to increase margins, which leaves City [...]
Tesco opens Asia training centre for 100,000 staff July 7, 2011 Tesco has opened a £30m training centre in South Korea to train its staff across Asia. The group posted Asian sales last year of £11bn from consumers in South Korea, China, Japan, Malaysia, Thailand and India. Tesco is the first FTSE 100 company to open such a training academy in Asia. Workers will be taught [...]
Profits fall at Samsung as TV sales drag July 7, 2011 PROFIT at Samsung Electronics, the world’s largest maker of memory chips and televisions, fell by a quarter as weak earnings at its flat screen unit dragged, underlying the conglomerate’s struggle to return to last year’s record profit. A bleak outlook for computers and TVs and a wobbly global economy is overshadowing robust sales of Samsung’s [...]
ThyssenKrupp in share sale July 7, 2011 GERMAN steelmaker ThyssenKrupp fell to a one-month low yesterday after it sold almost 10 per cent of its capital held as treasury stock to cut debt, in a quick fix after the failed sale of civilian shipbuilding assets. ThyssenKrupp, whose shares fell almost six per cent, had said late on Wednesday it would sell 49.5m [...]
International growth aids Hays as UK remains tough July 7, 2011 RECRUITMENT group Hays reported an 11 per cent rise in fourth quarter net fees yesterday as growth at its international division helped offset weakness at its UK business, which was hit by continued tough public sector conditions. Hays, which specialises in placing office workers such as accountants and secretaries, said second half profits had been [...]
