RBC decides to trim back costs after expansion January 15, 2013 RBC, the Canadian bank that has been investing heavily in building up an investment banking franchise in Europe, yesterday announced job cuts in London. Nick Fothergill, head of European equities, has left the bank, along with three sales traders, two market-makers and two other salesmen. Fothergill joined RBC Capital Markets from Nomura with over 17 [...]
Russian freight train firm looks for London IPO January 15, 2013 FREIGHT train operator NefteTransService (NTS) is set to become the first Russian firm to join the London stock market this year. NTS Holding announced its intention to float on the main market yesterday, and a source said the firm expects to raise up to $500m (£311m) for 25 per cent of its global depository receipts. [...]
Michael Page sees mixed start to the year in the jobs market January 15, 2013 WHITE collar recruiter Michael Page yesterday posted a 4.9 per cent fall in profits, in line with its pared-back expectations, and predicts a patchy start to the year. Chief executive Steve Ingham said that while some of the firm’s offices in Asia and South America were enjoying strong growth, the Eurozone and the financial services [...]
Myspace suits up with Timberlake facelift January 15, 2013 POPSTAR Justin Timberlake yesterday launched a revamped version of MySpace, the social network that rose to prominence in the first half of the 2000s but has lost users to Twitter and Facebook. The new version of MySpace is focused around music and playlists, and was opened with a new song from Timberlake, who is an [...]
Ocado boosted by Christmas shopping rush January 15, 2013 ONLINE grocer Ocado said it enjoyed a very merry Christmas after posting a 14 per cent rise in gross sales to £91.6m in the six weeks to 6 January. “It was a very good festive season for us, evidenced by growth in orders, basket size and sales,” chief executive Tim Steiner said. “As has been seen [...]
Party food helps Co-op deliver a modest rise in yuletide sales January 15, 2013 BRITISH food retailer the Co-operative Group said yesterday that underlying sales grew 2.2 per cent at its food stores over the three week Christmas period, buoyed by sales of champagne, seasonal produce and desserts. The group, which is owned by over 6m consumers and says it is the fifth biggest food retailer in Britain, posted [...]
Burberry bounces back after customers splash out on gifts January 15, 2013 SHARES in Burberry yesterday bounced back from their September crash after the luxury goods maker said a pick-up in the Chinese market helped boost third quarter sales. The fashion brand sent shock waves through the luxury sector last year by warning of a global slowdown in spending – particularly in China. But yesterday finance director [...]
Halfords aims to revive Wiggo effect with new bike models January 15, 2013 BICYCLE and car parts retailer Halfords yesterday edged up its profit expectations for the full-year after enjoying healthy sales in car maintenance and top bike ranges in the Christmas quarter. The firm, which trades from over 460 Halfords stores in the UK and Ireland as well as over 260 Autocentres, said sales at stores open [...]
Tesco and Sainsbury’s maintain share after a festive dead-heat January 15, 2013 BRITAIN’S biggest retailer Tesco and third-place grocer Sainsbury’s tied in the battle for sales growth in the key Christmas period, according to data published yesterday. Market researcher Kantar Worldpanel said Tesco and Sainsbury’s both posted identical gross sales growth rates of 3.9 per cent in the six weeks ending 6 January, with market shares unchanged [...]
Analyst Views | Did Burberry perform better than expected in the third quarter? January 15, 2013 BETHANY HOCKING INVESTEC The all-important third quarter retail like-for-like of six per cent is better than our forecast for 0.5 per cent and consensus for around 0.7 per cent… The company remains cautious and points to volatile trading and weak footfall, but nevertheless Burberry had a better Christmas than expected. SAM HART CHARLES STANLEY Burberry’s [...]
