Mothercare announces interim boss Mark Newton-Jones March 10, 2014 After Simon Calver’s sudden departure last month, Mark Newton-Jones has been named as the interim chief executive (CEO) of babycare specialist Mothercare. Newton-Jones will take over next Monday, minding the group while it looks for a permanent new boss. He won’t, therefore, join the board. Calver left six weeks after the company issues a profit [...]
Property to join milk on sale at grocer Morrison March 10, 2014 SUPERMARKET chain William Morrison is this week set to sweeten its drop in profits with a property sell-off that could raise £500m for investors. The grocery giant, which has already said its Christmas sales were disappointing, is forecast to report annual pre-tax profits of between £734m and £805m, down from £879m in 2013 and the [...]
London Report: Carney to face questions over Bank oversight March 10, 2014 MARK CARNEY faces probably his toughest questioning so far as Bank of England governor tomorrow when lawmakers will seize on a foreign exchange scandal to press their demands for tighter oversight of the central bank. Carney will face the Treasury Select Committee over claims the Bank’s governance system is outdated. Last week the Bank suspended [...]
Ofgem probes energy firms on power cuts March 6, 2014 OFGEM yesterday said that it is going to investigate UK Power Networks’ (UKPN) and SSE’s performance during the Christmas storms, after the two electricity distribution network operators were found to have been the slowest in responding to customers. The energy regulator is also looking to increase payments to customers who have their electricity cut off [...]
Energy companies face Ofgem investigation over Christmas power cuts March 6, 2014 Ofgem is set to investigate energy companies UK Power Networks (UKPN) and SSE over their response to the storms that wreaked havoc across the UK over the Christmas period. The two electricity distribution network operators were found to have been the slowest in responding to customers and in reconnecting their electricity supply. The energy regulator [...]
Profits surge at Thorntons after Christmas cheer March 3, 2014 THORNTONS posted a 47 per cent jump in first half profits yesterday as the chocolatier’s three-year plan to scale back its shops and grow its commercial and online channels continued apace. The retailer, which opened its first shop 113 years ago in Sheffield, reported pre-tax profits of £7.2m in the six months to 11 January, [...]
Suitors abuzz over Maplin after backers plug in for £200m sale March 3, 2014 HIGH Street electronics retailer Maplin has been put up for sale with a price tag of up £200m after its private equity owners decided to exit the business. Maplin, which reported sales of £213.5m for the year ending 2012, is owned by Montagu Private Equity and has about 230 stores across the UK and Ireland, [...]
Inside Track: London’s 2014 flotations get off to a promising start February 27, 2014 THERE have been weeks of anticipation. Now it’s time for early evaluation as the first London new issues of 2014 start trading. Which way the newly issued shares trade can set the mood for the rest of the year – or at least provide an indication of the appetite of the institutions for newly-listed stocks. [...]
Focus on… Greenwich: Grass is always greener in Greenwich February 27, 2014 THE ROYAL Borough of Greenwich is a leafy haven bursting with heritage. Newly royal – the title was bestowed upon the town in 2012 – it was the birthplace of Tudor kings, the sanctuary of injured sailors, a popular holiday resort, and now the home of time itself. Like time, houses prices stand still for [...]
The Road to Cheltenham February 27, 2014 JP MCMANUS has landed some pretty hefty coups at Cheltenham over the years and you can bet your bottom dollar that he will be lining a few up for the handicaps again this season. My Tent Or Yours is his big hope on the first day, but I’m actually more interested in Pendra in the [...]