IHG sees US growth slow October 24, 2012 INTERCONTINENTAL Hotels Group (IHG) said yesterday revenue growth in the US slowed in the third quarter due to the 4 July holiday falling midweek and a shift in some religious holidays in September. The world’s biggest hotelier said revenue per available room (RevPAR), a key industry metric, rose 4.6 per cent for July to September, [...]
Higher spenders would be better than a new strategy October 24, 2012 WHAT does the future of retail look like? Clicks-and-mortar is the buzzword of the moment (Tesco calls its version Clicks and Bricks), a Frankenstein-like stitching together of physical retail locations with online, anytime ordering. When Home Retail Group (HRG) announced its strategy to turn around Argos yesterday that’s very much what it had in mind, [...]
Olympic boom fuels sales lift at Sports Direct October 24, 2012 BRITAIN’S biggest sporting goods retailer Sports Direct yesterday reported an 18 per cent rise in recent sales as customers caught London Olympics fever and kitted out children for a return to school. The group, which owns Sports Direct.com and Lillywhites stores as well as brands such as Slazenger, Lonsdale and Dunlop, said yesterday group total [...]
BAE mega merger highlights difficult outlook for defence October 24, 2012 THE FAILED merger between BAE and EADS indicated the “difficult” defence outlook, Morgan Stanley said yesterday, highlighting the unlikelihood of a tie-up between the British defence firm and a prime US company. “The proposed merger could be seen as an indication that the outlook for defence is more difficult than is currently expected,” said the [...]
Brussels moves to shut Amazon taxes loophole October 24, 2012 AMAZON may have to change the prices it sells its Kindle ebooks at after Brussels chiefs ordered Luxembourg – where Amazon bases its European operations – to up its rate of VAT on ebooks to bring it into line with the rest of Europe. The European Commission yesterday gave Luxembourg and France one month to [...]
EE gains 250,000 more contract customers ahead of 4G launch October 24, 2012 RISING numbers of people signing up to expensive long-term smartphone contracts have boosted EE, the owner of Orange and T-Mobile, ahead of its launch of the UK’s first high-speed “4G” mobile network. The company said 250,000 extra people had signed up to phone contracts in the July to September period, while it lost just under [...]
Microsoft hit by EU warning October 24, 2012 MICROSOFT will have to answer a charge of breaking EU competition law for not providing a choice of internet browsers on its software. EU competition commissioner Joaquin Almunia sent a statement of objections to the US technology firm yesterday. “Microsoft has failed to comply with its commitments,” Almunia said. The firm has a month to [...]
Lower trading hits Nasdaq October 24, 2012 A SLOWDOWN in trading of US technology stocks pulled Nasdaq profits down in the last three months. The company, which owns and operates the Nasdaq stock exchange as well as a number of Nordic and Baltic markets, said volatility had decreased in the last year. Nasdaq’s profit fell to $89m (£55.6m) in the quarter, while [...]
Falling tobacco sales burn out BAT price hikes October 24, 2012 PRICE rises from British American Tobacco (BAT) have failed to stem the effects of falling cigarette sales this year, as the FTSE 100 firm saw turnover fall in the last nine months. The company, which makes the Lucky Strike, Dunhill, Kent and Pall Mall brands, said tax hikes in Brazil and currency fluctuations were to [...]
Emerging markets success offsets Heineken’s European struggles October 24, 2012 HEINEKEN, the world’s third-largest brewer, reported stronger than expected third-quarter group revenue yesterday, boosted by US and emerging market strength and price hikes, but investors focused on weakness in Europe. Europe’s largest brewer, whose Heineken brand is the continent’s number-one selling beer, said the main causes were a double-digit percentage decline in Portugal, which entered [...]
