DS Smith on target for year November 6, 2012 Recycled packaging supplier DS Smith said yesterday it expects “substantial” year on year earnings per share growth, and that the board is confident on its performance for the remainder of the year. DS Smith said that the packaging business is performing in line with expectations, with its Northern and Western Europe sectors performing particularly well [...]
Who’s switching jobs November 6, 2012 Sainsbury’s Bank Peter Griffiths has been appointed chief executive of the supermarket bank, effective 19 November. He was previously chief executive of Principality Building Society. Griffiths has also worked as chief operating officer at Morgan Chambers, a consultancy, and head of commercial services at NatWest Group IT. RBC Wealth Management Nick Reid has been appointed [...]
Best of the Brokers November 6, 2012 CHEMRING UBS has downgraded defence equipment maker Chemring from “buy” to “neutral” with a target price of 300p, down from 390p, citing uncertainty over future profits and revenue. IMI Panmure has reduced its recommendation for engineering group IMI from “buy” to “hold” and cut the target price to 1040p (from 1140p), because it forecasts long-term [...]
FTSE 100 lifted by strong results from Marks & Spencer and G4S November 6, 2012 BRITAIN’S blue-chip stock index rose yesterday, buoyed by some encouraging earnings reports in light trade ahead of what is expected to be a close US presidential election result. The FTSE 100 was up 45.84 points, or 0.8 per cent, at 5,884.90 by the close, remaining within the tight 200-point range it has held since September. [...]
US stocks lifted by promise of vote outcome November 6, 2012 US stocks climbed yesterday, the last day of trading before the US election results came to a close, as investors looked forward to a resolution to the drawn-out race for the White House. The rally defied a string of weaker-than expected results from US companies and was attributed in part to expectations that a victor [...]
Britain’s unstable pensions policies are holding back long-term saving November 6, 2012 THERE is widespread agreement in both government and in business circles that Britain’s pension regime needs urgent reform to make it fit for the long term. People are not saving enough for retirement and businesses are continuing to struggle to provide adequate pension schemes for their employees. So far, plenty of work has been done [...]
Monetary union is clipping the wings of regions outside the dynamic South November 6, 2012 LORD Heseltine’s recent report into economic growth has attracted a great deal of comment – almost all of which suggests that he longs for the old Regional Development Agencies and the state-planned decades of the 60s and 70s. But the report does, at least, outline a list of possible policy actions to deal with a [...]
How manipulated figures distort the FTSE pay debate November 6, 2012 BROAD sections of the media are reporting misleading statistics on recent increases in directors’ pay. According to figures released by Incomes Data Services (IDS), the average salary rise among FTSE 100 directors was a huge 27 per cent over the last year. But highlighting 27 per cent misrepresents the facts. It follows on the reporting [...]
After its profits once again disappoint, can Marks & Spencer return to its former glory? November 6, 2012 YES Rafael Gilston Marks & Spencer sits squarely in the mid-market. Because of this, it’s under constant attack from more specialist brands like Next (for families), John Lewis (for labels), Zara (for the career woman) and even New Look (for teenagers and young adults). The historical legacy of the Marks & Spencer brand is that, by [...]
Rapid responses November 6, 2012 Minimum wage [Re: As the mayor announces a rise in London’s Living Wage, does it make economic sense? Yesterday] Sam Bowman is right that low paid workers should be taxed less. The Institute for Fiscal Studies has shown that, if firms paid the Living Wage, the government would knock £1,000 per worker off of the [...]
