Primark’s Union Jack sales boost profits at Associated British Food November 6, 2012 ASSOCIATED British Food’s chief executive has said customers snapping up Primark’s Union Jack themed merchandise during the Olympics and the Diamond Jubilee helped spur a 17 per cent rise in group full-year profit. George Weston said the discount fashion chain sold more than 7.5m items stamped with the flag as Brits and overseas visitors bought [...]
M&S boss fights back after half year improves November 6, 2012 MARKS & SPENCER chief executive Marc Bolland yesterday asked for “a little patience” before seeing a turnaround in its troubled womenswear division and defended his strategy as the group revealed a 10 per cent fall in half year profits to £289.5m. The Dutchman, who is 18 months into a five-year plan to revive the group’s [...]
Murdoch’s News Corp profits up threefold thanks to TV channels November 6, 2012 NEWS CORP revealed a trebling in profits last night thanks to growth in its lucrative cable networks division. Rupert Murdoch’s media giant said its US channels, such as Fox News, Fox Sports and the FX Network, saw a 33 per cent year-on-year increase in operating income in the third quarter. This was driven by higher [...]
Industry output dive means GDP could go down November 6, 2012 OUTPUT IN the production industries dived in September, data showed yesterday, driven by a collapse in mining and quarrying, which analysts suggested might lead to downward GDP revisions. Manufacturing output rose 0.1 per cent into October, according to the Office for National Statistics, but overall production was dragged down 1.7 per cent by a 15.3 [...]
Pay gap remains as women earn £400,000 less over working life November 6, 2012 THE average female executive in the UK earns £400,000 less than her male counterpart over a lifetime of work, according to new data released this morning. Women in executive roles are also likely to win bonuses worth less than half those given to their male colleagues – the average male bonus came in at £7,496 [...]
Auditors see big problems with EU budget for 18th year in a row November 6, 2012 OFFICIAL auditors yesterday reported major errors in EU spending last year, amounting to billions of euros and strengthening the hands of politicians in the UK who hope to freeze spending in the budget. The European Court of Auditors said it had found irregularities affecting four per cent of total spending during 2011, equivalent to around [...]
MPs told new banks are not short-term fix November 6, 2012 THE GROWTH of challenger banks is not a solution to the current shortage of lending to small firms, City grandee John Griffith-Jones said yesterday, arguing that only unblocking lending from big banks can help in the short run. The former KPMG boss and incoming chairman of the Financial Conduct Authority also told MPs that banks [...]
Allied Irish asks bosses who led to ruin to give back pensions November 6, 2012 ALLIED IRISH Bank (AIB) wrote to former directors yesterday to ask for some of their pensions back, after mounting public anger at the scale of payouts at the bailed-out bank. The institution collapsed in the financial crisis, leading to a bailout in 2009 and nationalisation in 2010 – part of a wave of bailouts that [...]
Play me boss, begs Walcott, after star nets on comeback November 6, 2012 ARSENAL forward Theo Walcott last night pleaded with manager Arsene Wenger to give him a run in the team after he justified a rare start with a goal as the Gunners squandered two points in Germany. Walcott, who has been left on the bench amid his refusal to extend a contract that expires next summer, [...]
Federer finding Finals form and fitness after win over Tipsarevic November 6, 2012 WORLD No2 Roger Federer believes that he is on course to perform to the best of his ability after easing to victory over Janko Tipsarevic in his first match at the ATP World Tour Finals in London. The Swiss great, widely revered as the finest player of all time, comfortably cruised to a 6-3, 6-1 [...]
