Net-A-Porter is snapped up in £350m Swiss deal April 6, 2010 SHOPPING website Net-A-Porter was yesterday sold to Swiss luxury brands group Richemont in a deal valuing the business at £350m The company, founded by ex-Tatler fashion editor Natalie Massenet, was set up in a small studio in Chelsea a decade ago and now turns over £120m and employs 600 people. Massenet, said she was “very, [...]
WILL THE OIL?PRICE REACH $100 A BARREL? April 6, 2010 JASON KENNY | ING There is no reason for oil to go over $100 a barrel unless there is an unknown factor driving the price. The market has reacted to a bit of economic data and growth and demand increases. I think the price will fall back when people get back from their Easter break. [...]
US regulators consider new rules in bid to protect debt security investors April 6, 2010 US REGULATORS are considering a plan that would prevent banks and other sponsors from selling asset-backed securities without assuming any of the risks themselves, sources familiar with the Securities and Exchange Commission’s approach said. The SEC is mulling a proposal that would require asset-backed security sponsors to retain five per cent of the credit risk [...]
Hampson cautious but on track for profit April 6, 2010 Aerospace engineering group Hampson Industries said yesterday it expects to report a profit for the full year to the end of March, though it warned conditions are likely to remain unstable for the near future. The group added that it is now in the process of looking for a new chief executive, after current boss [...]
Max Petroleum drills well in Kazakhstan April 6, 2010 Oil and gas explorer and developer Max Petroleum has begun drilling on its KZN-2 exploration well in Kazakhstan, the third of three exploration prospects scheduled to be drilled by the company in the North Kyzylzhar II West Block area.
Findel boss Keith Chapman steps down April 6, 2010 Home shopping and educational supplies group Findel yesterday confirmed that Keith Chapman has stepped down immediately as chairman and director.
Double-dip is avoided but growth weak April 6, 2010 BRITAIN has managed to avoid the dreaded double-dip but the recovery remains weak and still faces serious risks, the British Chambers of Commerce (BCC) will say today in its first quarter economic survey. Encouragingly, the results show that the performance of the services sector is improving with most indicators now positive and making gains on [...]
US insists on a flexible yuan April 6, 2010 TIMOTHY Geithner, the US Treasury secretary, urged China yesterday to make its exchange rate more flexible, stating that it was in the Asian country’s own interest to do so. “As I said before and I’ll say it again, but I want to make sure I am repeating myself, I am confident that China will decide [...]
IoD: 50p tax harmful to state of public finances April 6, 2010 RATHER than improving the parlous state of Britain’s fiscal position, the new higher rate of tax will be bad for the public finances, the Institute for Directors (IoD) claimed in a report published yesterday. The IoD argued that the 50p tax rate, which came into force yesterday, would raise little or no tax in the [...]
BRC: Food price inflation slumps in March to its lowest level in three years April 6, 2010 FOOD price inflation fell to its lowest level in three years last month, according to the latest data published by the British Retail Consortium (BRC) today. The BRC said that food price inflation was just 1.2 per cent in the year to March – down from 1.3 per cent in the year to February, despite [...]
