Analysts sceptical after ailing JJB Sports appoints new chief July 30, 2012 RETAIL ANALYSTS were sceptical yesterday after JJB Sports appointed a former director of the troubled lingerie chain La Senza as interim chief executive, as the sports group fights to turn itself around. Beverley Williams, a former commercial director and co-chief executive of La Senza, joins the business with immediate effect following Keith Jones’ exit last [...]
Mortgage approvals plummet to their lowest level for 18 months July 30, 2012 MORTGAGE approvals plunged to their lowest number in a year and a half in June, according to Bank of England data released yesterday. Only 44,192 loans for home purchase were waved through by lenders last month, down from 50,544 in May and significantly below economists’ forecasts. While two extra bank holidays falling in June might [...]
Bank of England figures point to subdued UK money supply July 30, 2012 THE UK’s money supply continued to shrink in June, the Bank of England revealed yesterday, although the Bank’s favoured measure – which excludes intermediate other financial corporations – painted a more solid picture. The preferred measure, known as M4ex, was up 3.5 per cent on the year in June after a three per cent rise [...]
Weak increase in sales points to a miserable summer for retailers July 30, 2012 THE SQUEEZE on British consumers continued to hit the retail sector in July, according to a widely-regarded business survey released yesterday. Sales growth in the opening two weeks of the month was significantly weaker than shopkeepers had expected, the Confederation of British Industry (CBI) revealed. While 44 per cent of surveyed retailers told the CBI [...]
Shaw Group gets $3bn offer July 30, 2012 Chicago Bridge & Iron said yesterday it plans to buy Shaw Group for about $3bn in cash and stock to create a big engineering and construction company focused on the energy industry, but Shaw shares traded below the offer price, suggesting some investors worry the deal may not close. Netherlands-based CB&I offered $46 per share, [...]
Luther Pendragon buys Lucid July 30, 2012 Independent communications consultancy Luther Pendragon announced today is has bought Lucid Communication, a PR firm specialising in the financial and professional services sector. Lucid co-founders Caroline Wagstaff and Ruth Starling will be directors in the new company.
Chrysler continues turnaround July 30, 2012 Chrysler yesterday continued its recovery from near death just three years ago, earning $436m (£277.7m) in the second quarter and confirming that it will show a full-year operating profit of at least $3m. Revenue rose 23 per cent to $16.795bn.
John Lewis appoints Pramerica July 30, 2012 Pramerica Real Estate Investors, the European arm of Prudential Financial, said yesterday it has been hired by John Lewis Partnership Pensions Trust to boost its portfolio of UK property investments to £270m.
Cameron slams Tory tweeter as he takes the Tube to Stratford July 30, 2012 PRIME Minister David Cameron made room for some fun yesterday with a trip to the Olympic Park, but the jaunt did not lift his mood enough to spare the tweeting Tory backbencher Aidan Burley. Cameron said Burley, who disastrously misjudged the nation’s mood by branding Friday’s Olympic opening ceremony “multicultural crap” on the micro-blogging site, [...]
CITY VIEWS | WHAT DO YOU THINK OF THE OLYMPICS SO FAR? July 30, 2012 JOHN JONES CLARKSONS The energy and organisation exceeded expectations and it was a shame that I missed out on tickets, especially considering the rows of empty seats during the weekend coverage. TIM DAVIS CALYPSO I thought it was a decent and positive opening weekend having seen the men’s cycling road race. It seems like business [...]
