Jigsaw pieces come together as profits rise January 6, 2014 FASHION retailer Jigsaw has emerged as one of the winners in the battle for consumers’ purses this Christmas. Like-for-like sales leapt by 17 per cent in the five weeks to 28 December, the privately-owned group said yesterday. Total sales for the year to 28 September were up seven per cent to £64.2m while net profit [...]
Virgin Active to spend £100m to kit out gyms January 5, 2014 VIRGIN Active, one of the world’s largest gym chains, today said it will invest £100m in its UK sites over the next three years, part of a campaign to lure the traditional post-Christmas influx of new gym users to sign up to the chain. The company, which was founded in 1999 and is controlled by [...]
The Queen’s list honours the City January 5, 2014 THE NEW Year’s Honours List of OBEs, CBEs, Knighthoods and everything in-between contains more decorations than Claridge’s Christmas Tree, and this year the City had a number of notable inclusions. Former Bank of England deputy governor Paul Tucker got a knighthood, as did former Lord Mayor Roger Gifford, while chair of Land Securities, Alison Carnwath, [...]
The year in preview: Our in-depth guide January 5, 2014 City A.M.’s journalists take a wide-ranging look at what 2014 has in store for the world of finance and business BANKINGRestoring faith means costly overhaulsA CAUTIOUS optimism pervades the British and European banking system at the start of 2014. The incoming economic recovery is at last improving customers’ creditworthiness, while the hard work running down [...]
London Report: Retailers set to reveal scale of 2013 hangover January 5, 2014 RETAIL figures due this week will reveal whether Britain’s major brands are going into the New Year with a Christmas hangover. Marks & Spencer and Tesco are both set to report on Thursday, and J Sainsbury on Wednesday, with figures likely to show retailers faced a dismal festive season. Debenhams has already set the tone, [...]
Letters to the Editor – 06/01 – Gold speculation, Payday lending, Best of Twitter January 5, 2014 Gold speculation [Re: Here’s why Capital Economics thinks gold will bounce back this year, Thursday] Buying gold at current prices is speculation, and not just over the potential removal of Indian import restrictions. Its price tells you about fear in an economy at any given point – and there just isn’t that fear around that [...]
Any Other Business – 06/01 January 5, 2014 Those of you reaping the (un)happy rewards of a Christmas spent gorging on chocolates and mince pies will be delighted to hear you can burn an average of 324 calories each day simply by going to work. Apparently, commuters in London burn the second highest amount of calories in the UK (narrowly beaten by Cardiff) [...]
Next raises annual profit forecasts on bumper festive sales January 3, 2014 Strong Christmas sales have seen retailer Next up its full year profit forecast range, along with announcing a special dividend. The festive period saw sales "significantly ahead of expectations", said the UK fashion chain. Sales from 1 November to 24 December increased 11.9 per cent, and five per cent from a year earlier. Next Retail [...]
Next raises annual profit forecasts on bumper festive sales January 3, 2014 Strong Christmas sales have seen retailer Next up its full year profit forecast range, along with announcing a special dividend. The festive period saw sales "significantly ahead of expectations", said the UK fashion chain. Sales from 1 November to 24 December increased 11.9 per cent, and five per cent from a year earlier. Next Retail [...]
US jobless claims fall over Christmas period January 2, 2014 The number of people in the US claiming state unemployment benefit for the first time fell over the Christmas week to 339,000. Consensus had been for a fall to 334,000 from the previous figure of 341,000 (revised up from 338,000). The number of continuing claimants the week before (20 December) also fell to 2.83m – [...]