Thorntons in sales dive July 13, 2011 Chocolatier Thorntons has said store sales were down by more than ten per cent as it predicted another year of tough conditions on the high street. Like-for-like sales at its 364 company-owned stores fell by 10.6 per cent in the eight weeks to 25 June. The firm is to close up to 180 shops over [...]
Topps Tiles in sluggish trading July 13, 2011 Topps Tiles has admitted it faces another quarter of “subdued” trading as the sluggish house market and low consumer confidence continues to hit demand. The floor coverings firm, which has 313 UK stores, said like-for-like sales declined by 1.9 per cent in the 13 weeks to 2 July, compared with a 1.2 per cent fall [...]
Amazon seals cheaper Kindle deal July 13, 2011 Amazon.com said yesterday it has struck a sponsorship deal with AT&T to sell a less expensive version of its Kindle 3G digital reader. Amazon’s Kindle 3G, which allows users to buy electronic books without having to subscribe to a wireless network, costs $189 (£118.22). The AT&T sponsored device, which will also include built-in ads on [...]
Sales drop at Icap as trade hits $878bn July 13, 2011 ICAP, the brokerage founded by former Tory party treasurer Michael Spencer, posted a four per cent drop in first-quarter sales yesterday. The London-listed firm said the slip was in line with its expectations, blaming the large number of public holidays and a tough comparator due to an “abnormally high” level of activity around the “flash [...]
Spencer bets on digital future of broking July 13, 2011 ICAP thrives on volatility, so the continued double-digit volume growth in many of its trading divisions in the past quarter wasn’t a surprise. But both the market and the comparative period last year were tough to beat, so its four per cent revenue fall didn’t alarm investors either. Where Michael Spencer’s interdealer broker really continues [...]
Russian gold miner Zapadnaya the latest to plot a London IPO July 13, 2011 RUSSIAN gold mining firm Zapadnaya is the latest in a string of firms from the country to plot a London initial public offering, as it presses ahead with its plans to go public amid turbulent market conditions. The company is in the early stages of pre-marketing talks with investors, with no date yet set for [...]
IT’S WAR July 13, 2011 Stelios reignites row with easyJet over new aircraft SIR Stelios Haji-Iaonnou has refuelled his ongoing row with the board of easyjet, this time urging the company to cut the size of its fleet and reverse its latest order for 35 airbus planes announced in January. In a letter addressed to easyJet’s chairman Sir Michael Rake, [...]
BMI chastised over misleading special offer July 13, 2011 BRITISH Midlands International (BMI) has been slapped on the wrist by the UK’s advertising watchdog for posting a “misleading” offer claiming 40 per cent off all flights. Earlier this year BMI’s low cost airline bmibaby ran a promotional email and internet advertisement that read: “Up to 40 per cent off ALL flights!” The Advertising Standards [...]
LSE launches government bond platform July 13, 2011 THE London Stock Exchange has launched a government bond trading service as part of the exchange’s ongoing efforts to diversify its business and reduce its reliance on share trading. The LSE bond trading business MTS said yesterday the inclusion of government bonds, known as gilts, takes to 17 the number of European sovereign bonds on [...]
Phosagro lists in London for $538m July 13, 2011 RUSSIAN fertiliser group Phosagro priced its London share sale yesterday, raising $538m (£337m) to pursue acquisitions. The offer valued the firm at $5.2bn, significantly lower than early analyst estimates of up to $8.7bn. It priced its initial public offering (IPO) in the lower half of its initial range at $14 per global depository receipt, or [...]
