Glencore rises 2pc in first day’s trading May 24, 2011 GLENCORE saw its share price close up 2.14 per cent in its first day of public trading on the London Stock Exchange yesterday in what the LSE confirmed is London’s largest ever float, with $10bn raised. The stock closed at 525p, failing to break above its original float price of 530p when conditional trading began [...]
A sorely needed IPO success story May 24, 2011 London’s float market badly needed a success story after a run of false starts and postponements this year. And Glencore’s moderate price movement during its first day’s trading seems to have supplied just that. Observers looking for a superstar rally, to fit hype from bankers last week that a five to 10 per cent rise [...]
M&S in store revamps as profit climbs May 24, 2011 MARKS and Spencer (M&S) yesterday unveiled a far reaching shake-up of its stores which will see branches in richer areas being stocked with more expensive lines. Chief executive Marc Bolland said the move – based on the spending power and demography of a local area – would see products better reflect the requirements of shoppers. [...]
Tesco market share rises as Asda sees dip May 24, 2011 TESCO’S market share rose for the first time since November last year, according to Kantar Worldpanel market share data. For the 12 weeks to 15 May Tesco’s market share rose to 30.7 per cent, from 30.6 per cent. The only other retailer in the top four to increase its share was fourth-placed Morrisons. Its share [...]
DO YOU SHOP AT MARKS AND SPENCER, AND DO YOU THINK THE STORES NEED A REVAMP? May 24, 2011 STEVE HART | SAGICOR “I don’t shop there because I find it is very old fashioned and hard to find what you are looking for. I think the stores need a revamp to attract a younger range of customers.” ELLIOT CAPLAIN | ASPEN INSURANCE “Yes I am a big fan, the food is great quality. [...]
Busy lives and tight belts drive HomeServe growth May 24, 2011 HOMESERVE founder Richard Harpin (pictured) yesterday said penny wise homeowners keen to avoid costly disasters such as boiler breakdowns helped it grow last year. Revenues at HomeServe, which repairs and protects systems such as plumbing and heating, increased by 27 per cent to £467.1m in the year to March 2011 compared with 2010, as it [...]
GLENCORE BOSS’S BRIEF ENCOUNTER AT CHELSEA May 24, 2011 IT WAS unseasonably cold at the preview of this week’s Chelsea Flower Show – so the Queen, mindful of her constitution, didn’t stop to admire every single show garden. However, she did manage to drop in on the Royal Bank of Canada’s New Wild Garden, designed by Nigel Dunnett of The Landscape Agency, where Lynn [...]
Twitter is the winner in super-injunction saga May 24, 2011 WHO has done well out of the super-injunction saga? Those celebrities whose names have now been revealed? Not at all. The lawyers? Presumably. But what of Twitter? The social media platform deemed to have changed the dynamics of the saga and elevated freedom of speech to dazzling heights: the conqueror of tyrants and celebrities who [...]
Microsoft fights EU fine May 24, 2011 An €899m (£783m) EU antitrust fine was excessive and undeserved, Microsoft told an EU court yesterday in a case which could draw a line under a decade of legal battles. The 2008 European Commission fine – a record at the time – penalised Microsoft for failing to comply with the regulator’s order four years earlier [...]
Chrysler repays $7.6bn loan May 24, 2011 Chrysler yesterday paid back $7.6bn (£4.7bn) in US and Canadian government loans from its 2009 bailout, a move that allows the US automaker to distance itself from an unpopular bailout and deepen its ties with Italian automaker Fiat SpA. Chrysler said it transferred $5.9bn to the US Treasury and $1.7bn to the governments of Canada [...]
