UK wealth firms fear new rules June 20, 2011 Wealth managers in the UK believe their profits are more likely to take a hit due to regulation than their counterparts across the world, a new survey has found. Almost 50 per cent of private banks and wealth managers felt regulation would have a significant impact on profits, in a study of top firms by [...]
SuperGroup fails to ease growth fears June 20, 2011 SUPERGROUP yesterday moved to reassure investors that its growth plans were on target, with a market update reporting strong sales in the past three weeks, although its shares still slumped 4.1 per cent. The company’s stock has dropped in recent weeks on worries about its growth prospects. It had admitted that it was short of [...]
Shareholders should expect bumpy ride June 20, 2011 SUPERGROUP was one of the few IPOs of 2010 that managed to live up to its boastful moniker. Merlin failed to inspire any magic and pulled its planned flotation; potential investors in New Look decided the shares were old rope; and while Promethean – titled after a wily Greek god – managed to get away, [...]
Tesco Bank admits glitch June 20, 2011 Some of Tesco Bank’s 6.5m customers have been unable to access their accounts during an update of computer systems, the bank has confirmed. The bank, which operates in stores, online and by telephone, said problems occurred when transferring savings and loans products in-house, from its previous joint operation with RBS. It apologised to customers and [...]
Capita win £100m DVLA contract June 20, 2011 Business services group Capita has won a £100m, five-year contract with the Driver and Vehicle Licensing Agency (DVLA) to enforce vehicle tax and insurance evasion rules. Capita will manage vehicle excise duty and continuous insurance enforcement notifications and immobilise, remove, store and dispose of unclaimed vehicles through a network of 23 regional impoundment centres.
Westminster hires ex-SAS man June 20, 2011 Security firm Westminster has hired a former SAS soldier as chief operating officer for its homeland security division Longmoor. Major Keith Wright passed the SAS selection course aged 20 in 1976, making him one of the youngest ever soldiers to join the regiment.
Moss Bros in pledge to see profit again… June 20, 2011 MOSS Bros yesterday said it was on the road to a return to profit after reporting a 13.4 per cent rise in sales. The lift, for the 20 weeks to 18 June, comes in the middle of the retailer’s turnaround plan under chief executive Brian Brick. Under the revamp Moss has opened new bespoke stores [...]
…as JD Sports Fashion buys its Cecil Gee brand June 20, 2011 JD Sports Fashion has bought a slice of Spanish chain Sprinter and Moss Bros’s eight Cecil Gee stores. The company now has holds 50.1 per cent of Sprinter, which include 47 shops in the Andalusia and Levante regions. JD Sports has invested €20m (£17.7m) into Sprinter through a subscription for shares. The retailer bought the [...]
Asda exec King in shock exit June 20, 2011 Chief operating officer at supermarket giant Asda, Simon King, has quit after only six months. King joined Asda on 10 January this year, moving from Saudi Arabia where he was chief executive of supermarket operator Panda Retail, a subsidiary of The Savola Group. Prior to that he was chief executive of Tesco Kipa in Turkey, [...]
easyBus drives to first profit June 20, 2011 EasyBus, the low-cost travel business founded by Sir Stelios Haji-Ioannou, has posted its first annual profit since it was founded eight years ago. The bus operator, established in 2003 and part of Sir Stelios’s easyGroup venture, reported post-tax profits of £1.4m in the year to 30 September 2010, compared with a loss of £1.5m the [...]
