Dunelm sales surge in downturn September 15, 2009 Homewares retailer Dunelm yesterday reported a surge in recent sales growth and said it planned to create up to 1,000 jobs this financial year, boosting its shares 16 per cent to a new high. Dunelm, which sells products like curtains, bedding, blinds, rugs and lighting, said sales at stores open at least a year jumped [...]
Slaughters and friends feel the heat September 15, 2009 CITY solicitors are hooked on league tables, and the latest one feeding their addiction is a new ranking that details which law firms are bagging FTSE 100 instructions. Movement at the top has got tongues wagging, as the historically dominant Slaughter and May has seen its position challenged for the first time in years, triggering [...]
HOW HURDLES CAN SAVE THE BONUS September 15, 2009 DAVID MARDLEHEAD OF EUROPEAN VENTURE CAPITAL, TAYLOR WESSING THE City’s “bonus culture” has come in for criticism since the onset of the credit crunch. Traditional models of share-based remuneration, while encouraging long-term growth, have lost much of their appeal in an era of shrinking corporate valuations. But skilled people still need to be paid well. [...]
THE LONDON REPORT September 15, 2009 The FTSE 100 rose for a third straight session yesterday to close up by 0.5 per cent, boosted by bullish economic data from the US, as oils, miners and banks underpinned the rally. The index ended 23.28 points higher at 5,042.13, after trading as low as 4,996.52 earlier in the session. Energy stocks were higher, [...]
NEW YORK REPORT September 15, 2009 STOCKS rose yesterday to 2009 highs after stronger manufacturing and retail sales data boosted commodity prices and shares of materials companies.Yesterday’s gains lifted the S&P 500 above 1,050 for the first time since early October. The improvement in retail sales in August reassured investors about a rebound in US economic demand. A rise in the [...]
POLL: UK FACING INSURER EXODUS September 15, 2009 OVER 60 per cent of top executives at Britain’s insurance firms are feeling tempted to leave the UK because of high taxes, a poll reveals today. The survey of 75 chief executives and finance directors also showed growing pessimism about the competitiveness of the City, with 80 per cent predicting the number of insurers based [...]
Bernanke: recession over at last September 15, 2009 FEDERAL Reserve chairman Ben Bernanke last night said that the worst US recession since the Great Depression was probably over – but he warned that the recovery would be slow and painful. In declaring the recession over, Bernanke went slightly beyond the Fed’s most recent assessment that the economy was levelling off and that indications [...]
Banks to face bonus curbs September 15, 2009 BANKS with low levels of capital should face a limit on bonus payouts, according to an international body of regulators and central bankers. The Financial Stability Board (FSB) yesterday agreed to submit the proposal to G20 leaders next week, ahead of their summit in Pittsburgh. “We will have a link between a bank’s total bonus [...]
We must learn from Canada and Sweden September 15, 2009 THEY took their time but all British political parties have now bowed to the inevitable: spending cuts. With the budget deficit hitting at least 12 per cent of GDP, and the national debt about to spiral out of control, even Gordon Brown was forced yesterday to admit that his government would have to “cut costs, [...]
Watchdog hits ITV hopes September 15, 2009 ITV was yesterday dealt a blow by the Competition Commission, after it said it would retain tight rules on advertising slot prices, ignoring the broadcaster’s pleas to scrap a complex regime on how much it charges advertisers. The ruling is a setback for ITV, which was formed by the merger of Granada and ITV in [...]
