It’s not just any sales fall, it’s an M&S sales fall July 8, 2012 MARKS & SPENCER’s trading update tomorrow is likely to suggest that the high-street stalwart has been particularly weather-beaten in the first quarter of the year. Not only in the face of the wettest spring on record – which it is expected to blame for a 6.7 per cent decline in non-food sales – but also [...]
French may buy iconic British toy store Hamleys July 8, 2012 HAMLEYS may be sold to French retail group Groupe Ludendo, according to reports yesterday. Britain’s most famous toyshop is currently owned mainly by nationalised Icelandic bank Landsbanki, famous for running the Icesave deposit programme that defaulted in the financial crisis of late 2008. Landsbanki acquired its stake from retail investment group Baugur in a debt-for-equity [...]
High Street footfall drops as weather hits retail recovery July 8, 2012 FOOTFALL on Britain’s high streets fell by 5.5 per cent in June, hitting hopes that an increase in consumer spending could boost the economic recovery. Research released today by consumer monitoring firm Springboard blamed rain throughout the month, which has continued into July and is set to wipe out any potential boost from the Queen’s [...]
Valentino to go to Qatar July 8, 2012 THE EMIR of Qatar may buy Valentino from its private equity owners, Sky News said yesterday. The private equity firm Permira currently owns Valentino, having acquired the luxury Italian fashion brand near the top of the market, for €2.6bn (£2.1bn). The acquisition would see not only the eponymous Valentino label, but also Missoni changing owners. [...]
Stagecoach to launch luxury sleeper buses July 8, 2012 TRAVEL company Stagecoach is eyeing a move into upmarket transport through its budget bus brand Megabus. It has commissioned a 52ft double-decker bus, designed to carry passengers on inter-city journeys. It is understood that the buses, which will operate under the firm’s Megabus brand, will have luxury leather seats by day, and give way to [...]
Serious Fraud Office reopening probe into Weavering Capital July 8, 2012 THE Serious Fraud Office (SFO) has reopened its criminal investigation into the collapse of Weavering Capital in 2009 – 10 months after dropping the original probe. New director David Green called for the U-turn after a high court judge found Weavering Capital’s founder Magnus Peterson liable for deceit and breach of his fiduciary duties in [...]
Praetorian Resources lists on Aim July 8, 2012 Natural resources investment company Praetorian Resources today lists on Aim with an initial market capitalisation of £24m. Established by Richard Lockwood and Malcolm Burne, the geographically unconstrained portfolio will invest in equities and debt securities in the precious and base metals, energy, industrial minerals, soft commodities, diamonds and other gemstones sectors. Of the initial market [...]
France eyes changes to auto sector July 8, 2012 France will not let its auto industry collapse and plans to unveil structural measures to help the struggling sector stay afloat, French finance minister Pierre Moscovici said yesterday, as the threat of closure looms over a major production centre. Moscovici said a plan to save the auto sector would be unveiled in the next month, [...]
Bombardier gets $1.02bn order July 8, 2012 Canada’s Bombardier Aerospace said yesterday a new customer, which has requested to remain unidentified, has placed a conditional order for five CS100 and 10 CS300 jetliners. Based on the list prices of the aircraft, the contract is valued at about US $1.02bn. Earlier it said it was in talks with AirAsia about a more densely [...]
Spain praised for pushing on with reforms July 8, 2012 SPAIN is on the right path to overcome recession and regain investor confidence, and its public accounts can handle the extra weight of European aid designated for banks, Germany’s finance minister said in an interview published yesterday. Wolfgang Shaeuble praised the Spanish government’s tough steps to stabilise public finances, and said the state can cope [...]
