From January mocktails to a real Bloody Mary February 5, 2013 City A.M.’s cocktail expert Alcohol’s value goes beyond its simple price-tag. Over the Christmas period it was no doubt used by plenty to ease family tensions, as well as to smooth the passage from 2012 into 2013. Alcohol is so ingrained within our social experiences that human guinea pigs exhibit the effects of drunkenness, even [...]
Retail enjoys January rebound with best growth in 13 months February 4, 2013 LIKE-FOR-LIKE sales grew at their fastest annual pace for 13-months in January, delivering a much-needed rebound to the embattled retail sector. January’s sales were 1.9 per cent higher than during the same month last year, figures from the British Retail Consortium (BRC) and KPMG revealed this morning. Total spend grew an even healthier three per [...]
Morrisons buys Jessops stores for expansion February 3, 2013 WM Morrison, the supermarket chain, has bought seven former Jessops outlets from the collapsed specialist camera chain’s administrators PwC. The UK’s fourth largest grocer plans to convert the sites into M Local shops as it begins its assault on the fast-growing convenience store market this year. Four of the former Jessops stores are in London [...]
Ocado to reveal its progress on road to profits February 3, 2013 OCADO will be in the spotlight this week as the online grocer reveals whether it is edging closer to making a profit. The firm has recently hired Sir Stuart Rose as chairman and is also gearing up to open a second distribution warehouse in Warwickshire. Ocado, which was founded in 2000, is yet to go [...]
A late night Tube is simple way to keep London competitive February 3, 2013 TRANSPORT for London has raised the prospect of the Underground running until 2am at weekends. Starting in 2015, this could deliver a signifciant boost to London’s £8bn a year dining, drinking and entertainment industry, and would provide a boon to the thousands of Londoners who flock to the West End for a night out. This [...]
Dealmakers already confident of better times ahead January 31, 2013 With the first month of the year out of the way, most investment bankers are beginning to feel a little bit chirpier – at least those of them lucky enough still to be in a job. In Europe, January has brought a few large deals to the markets, including ArcelorMittal’s $3.5bn (£2.21bn) mandatory convertible bond [...]
Apple’s slice of the tablet pie shrinks in the fourth quarter January 31, 2013 APPLE’S share of the tablet market fell over the Christmas period, even as it sold record numbers of iPads, according to research. Figures from market analysts IDC claim that the iPad and iPad mini accounted for 43.6 per cent of worldwide sales in the fourth quarter of 2012. This was down from 51.7 per cent [...]
Germany sees employment rise despite crisis across Eurozone January 31, 2013 GERMAN employment soared in December, despite the devastating repercussions of the Eurozone crisis. Official statistical body Destatis yesterday revealed that 291,000 more German residents were in employment in December 2012 than during the same month a year before, bringing the total to 41.8m. Unemployment declined 77,000 as well, bringing the total to 2.25m, or 5.3 [...]
Snow hits Enterprise Inns and M&B January 31, 2013 PUB chains Mitchells & Butlers and Enterprise Inns both blamed the heavy snow during January for poor trading over the past few weeks. The companies, which own around 7,600 establishments between them, said that despite strong Christmas sales, a dismal January meant performances over recent weeks have been down year-on-year.
Mothercare UK boss to exit in team reshuffle January 30, 2013 MOTHERCARE’S UK boss is to leave the baby products retailer as part of a management shake-up to stem falling sales at its troubled UK arm. The retailer said yesterday that Mike Logue, who moved to Mothercare from Asda in late 2011, is to step down next month after the role was made redundant. The restructure [...]