US convenience launch for Tesco August 3, 2011 UK SUPERMARKET Tesco announced plans yesterday to trial a series of smaller stores in the US, in an attempt to offset losses at its chain of Fresh & Easy outlets. Tesco launched in the US in 2007 and runs around 175 stores across the country, but has struggled to make a profit, with trading losses [...]
Sales at Walker Greenbank jump August 3, 2011 INTERIOR furnishings firm Walker Greenbank said it had performed well during the last six months and is currently trading ahead of company forecasts. The group, which makes homeware under brand names such as Morris & Co and Harlequin’s Momentum for the likes of John Lewis, said turnover increased 11 per cent in the six months ended [...]
CITY VIEWS: HOW DID YOU BUY YOUR LAST HOLIDAY? August 3, 2011 EDWARD HUNT | HIS “Online. The notion of using a travel agent is a romantic one but it’s unnecessary with self-made bespoke holidays so easy online. The DIY approach provides a satisfaction you don’t get when you rely on travel agents.” JOHN HENSON | WILLIS “I bought my last holiday online. It cuts out the [...]
KKR profits fall 27pc as income stalls August 3, 2011 PRIVATE equity group KKR said it suffered a more than 27 per cent drop in quarterly profits yesterday, compared with the same period in 2010, as its investments brought in less income. KKR, which held assets of $61.9bn (£38bn) under management at the end of June, said it made $315m economic net income in its [...]
Revenues climb at MasterCard August 3, 2011 MASTERCARD, the world’s second biggest payment processor, has posted a better-than-expected second quarter income, increasing from last year’s £279.4m to £370.9m. Revenue rose 22 per cent to £1bn, while analysts had forecasted £945.6m. An increase in volume and processed transactions is said to have fuelled the double-digit revenue growth this quarter. The use of credit [...]
Earnings dip at Dunkin’ Brands August 3, 2011 DUNKIN’ Brands said yesterday its franchisees are raising prices at Dunkin’ Donuts and Baskin-Robbins stores to cover the higher costs of key ingredients such as coffee and milk. The company, which floated in New York last week, also reported profits in the most recent quarter were down slightly from a year ago. Dunkin’ Brands’ second-quarter [...]
Time Warner grows its sales August 3, 2011 Media giant Time Warner has reported a second quarter net income of $638m (£388.8m), 14 per cent higher than this time last year. Its sales outdid expectations, rising 10 per cent to $7bn, reflecting its film revenue rising by 13 per cent. The firm’s success has been accredited to blockbusters like the Hangover 2 and [...]
9. ICE profits top Street forecasts August 3, 2011 IntercontinentalExchange’s quarterly profit jumped 19 per cent on brisk energy-futures trading as another transatlantic exchange operator beat analysts’ expectations. Revenue from increasingly valuable areas like market data helped the company, known as ICE, keep pace with CME Group and other rival US markets.
BROCKET DIGS DEEP IN SPORTS CARS HUNT August 3, 2011 IT IS almost 13 years to the day since Lord Brocket walked free from Springhill open prison after serving two-and-half years for insurance fraud, and The Capitalist hears a party is potentially in the offing to mark the happy occasion. This will be no ordinary celebration though, if the outlandish suggestion actually becomes a reality [...]
Cairn shares drop as well is found dry August 3, 2011 CAIRN Energy dropped by more than five per cent yesterday after the Edinburgh-based explorer failed to find oil at one of its wells off the coast of Greenland. The FTSE 100 explorer said it was plugging and abandoning the well in the Lady Franklin block 300km offshore from Greenland’s capital Nuuk and moving its rig [...]
