Asos boss denies bid talks as the retailer posts soaring profit October 25, 2012 ASOS boss Nick Robertson yesterday dismissed talks of a bid by Amazon after the online fashion firm posted soaring sales abroad. He poured cold water on speculation that he had met with Amazon boss Jeff Bezos saying “I have not spoken to Amazon in three years.” The retailer, which has changed its year-end from March [...]
Whitbread appoints Smalley to its board October 25, 2012 THE FTSE 100 yesterday saw another female director added to its ranks after Whitbread announced it has appointed Louise Smalley, group human resources director, as an executive director. Smalley, who will join the board on 1 November, has worked for the Costa owner for 13 years and was promoted to group human resources director in [...]
London looks to Africa to bolster flotation activity October 25, 2012 With all the nervousness about governance issues at Russian companies wishing to list their shares in London, and with Nat Rothschild’s London-listed Indonesian venture Bumi seemingly ending in tears, now is perhaps not the best time for the London Stock Exchange to be hosting a conference about the opportunities in Africa for investors. In theory [...]
AXA revenues grow thanks to new markets October 25, 2012 EUROPEAN insurance giant AXA yesterday said its revenues grew by 1.3 per cent in the first nine months of 2012, driven by improvements in its property and casualty business. Headline income was €68.4bn (£55bn) for the first nine months of 2012, up from €65.9bn for the same period last year. However the French firm’s accounts benefited [...]
Ford axes UK van plant to stem losses as Europe crisis weighs October 25, 2012 FORD will stop making vans in Britain next year, cutting 1,400 jobs on top of 4,300 to be axed in Belgium as part of a plan by the US car maker to stem European losses expected to exceed $1.5bn (£929.7m) this year. It is the fourth vehicle plant closure in Europe announced this year and [...]
Ad boss Sorrell says grey swans affecting WPP October 25, 2012 ADVERTISING mogul Sir Martin Sorrell blamed “four grey swans” for a slowdown in global business yesterday as his company WPP slashed forecasts for the second time this year. Sir Martin said the Eurozone crisis, political tensions in the Middle East, sluggish growth in China, and the state of the US economy were dragging WPP’s growth [...]
Fifty Shades and Olympics harm Harry Potter printer Bloomsbury October 25, 2012 HARRY Potter publisher Bloomsbury has seen profits almost halve in the last six months as sales of its children’s and educational books have suffered. The firm also said sales of adult books had been lower than expected, due to the market being dominated by Fifty Shades Of Grey and the disruptive effect of the Olympics. [...]
Unilever sales beat forecasts October 25, 2012 UNILEVER’S quarterly sales growth beat forecasts as demand for cleaning and personal care products in China helped the consumer goods group outshine larger rival Nestle. The maker of Dove soap and Cif cleaners shrugged off the worries about slowing growth in China, reporting a growth of 5.9 per cent in the third quarter, ahead of [...]
Odey ups Man Group stake October 25, 2012 ODEY Asset Management yesterday sharply increased its stake in Man Group, taking a bold bet on a fightback by the struggling computer hedge fund firm. Odey, founded by veteran fund manager Crispin Odey and which is known for its lucrative bet in 2009 on a recovery in Barclays shares, has increased its stake in Man [...]
AstraZeneca in search for deals as revenue falls October 25, 2012 ANGLO-SWEDISH pharma giant AstraZeneca (AZ) will turn to new deals in an effort to stem the decline in its sales, new chief executive Pascal Soriot said yesterday. AZ reported a worse than expected 19 per cent tumble in revenue to $6.68bn (£41.4bn) in its third quarter as the company battles a dwindling pipeline of new [...]
