Analyst arrested over alleged tips to hedge fund SAC July 30, 2013 A securities analyst accused of leaking secret information in 2009 about a potential partnership between Yahoo and Microsoft to an SAC Capital Advisors hedge fund manager and other traders has been arrested and charged in California, prosecutors said yesterday. Sandeep Aggarwal, who worked as an analyst covering technology stocks before moving to India to start [...]
Domino’s Pizza sales jump after Britons ordered in for royal birth July 30, 2013 DOMINO’S Pizza said it enjoyed a leap in sales on the day of the royal birth, as Britons stayed glued to their television sets to get their first glimpse of baby Cambridge. “Prince George drove sales up 20 per cent on the previous Monday – it had greater impact on our sales than any weather [...]
Next ups profit forecast despite volatile trading July 30, 2013 NEXT warned yesterday that British shoppers are becoming more “spontaneous”, making sales more vulnerable to short-term events such as a change in the weather or a bank holiday. In a graph released alongside its half-year results, the retailer highlighted huge swings in weekly spend, with total sales down by as much as £10m in weeks [...]
July sees retail prices plunging at fastest pace ever recorded July 30, 2013 SHOP prices shrank again in July, declining at the fastest pace since the British Retail Consortium (BRC) began measuring them six-and-a-half years ago. The BRC’s shop price index fell by 0.5 per cent over the year to July, driven by the plummeting costs of non-food items, which dropped by 2.1 per cent. Although food prices [...]
BBC media dominance may be curbed in government review July 30, 2013 THE BBC could see its powers curbed as part of a review of the rules on media plurality, the government announced yesterday. Investigations into excessive dominance of the media market do not currently look at the role of the public broadcaster. But the review, unveiled by culture secretary Maria Miller, will consider changing this on the [...]
Tullett Prebon says trading still challenging as revenues decline July 30, 2013 TULLETT Prebon reported a three per cent drop in first-half revenue yesterday, as challenging market conditions and subdued trading weighed on the interdealer broker’s business. The brokerage said revenue reached £439.8m in the six months through June, down from £455.1m a year earlier. The fall came despite a late surge in trading volumes in May [...]
Automatic shares for Royal Mail workers infuriates postal unions July 30, 2013 ROYAL Mail’s 150,000 British employees will be automatically handed free shares worth around £2,000 when the company is privatised, the government announced yesterday. The move was timed to infuriate the Communication and Workers Union (CWU), which will tomorrow decide whether to ballot its members on strike action in an attempt to stop the £3bn sell-off. Postal [...]
ITV shares soar as advertising spend picks up July 30, 2013 BROADCASTING group ITV yesterday it expected demand for advertising to bounce back strongly this summer, recovering after it suffered from having no Olympics coverage a year ago. The firm’s chief executive Adam Crozier said his talks with advertisers indicated that they were becoming more confident about spending. “While that sentiment has shifted I don’t think [...]
Hargreaves hits out at auditors July 30, 2013 FINANCIAL services firm Hargreaves Lansdown has dropped Deloitte as its auditor, appointing PwC for the 2014 financial year. The group also criticised the closeness of firms with their auditors. CEO Ian Gorham said: “Failing to seek fresh expert challenge should be a source of embarrassment.” Hargreaves Lansdown has used Deloitte’s services since 2006, and the [...]
JLT eyes targets in the Middle East July 30, 2013 INSURANCE broker Jardine Lloyd Thompson (JLT) is looking at potential acquisitions to grow its business in developing markets, one of its top executives said yesterday. “We are actively looking to build our geographical reach,” Mark Drummond Brady told City A.M., highlighting the Middle East, Indian subcontinent and sub-Saharan Africa as growth areas. “We have a pipeline of [...]
