Seasonal bonus for shrewd traders November 19, 2012 CHRISTMAS is close and there is a lot of Bah Humbug in the air. The FTSE 100 index is 5 per cent off its recent highs. The governor of the Bank of England Sir Mervyn King said that the economy may contract again. As inflation squeezes real wages, and public spending faces more cuts, it [...]
Desmond the cosy neighbour November 18, 2012 YOUVIEW chief executive Richard Halton may not have anticipated that moving into the Northern & Shell building would involve such frequent visits from the man who heads up one of the firm’s partners, and landlord of the building. The Capitalist hears that Desmond, who owns Channel 5, has taken advantage of the proximity, and often [...]
John Lewis enjoys bumper online sales ahead of Xmas November 18, 2012 JOHN LEWIS said online sales jumped by almost a third last week compared with the same time last year, as consumers turned to their computers and mobile devices to make their Christmas purchases. The department store group reported a 31 per cent year-on-year rise in online sales in the week to Saturday 17 November. John [...]
Administrator works to save Comet stores November 18, 2012 COMET’s administrators will this week begin pulling down the shutters on some 40 stores as eleventh hour talks to save the stricken electricals giant’s remaining stores and brand continue. Accountancy firm Deloitte, which was called in earlier this month, said it is still in talks with a couple of potential buyers who have expressed an [...]
Squeeze on household finances eases slightly as Christmas looms November 18, 2012 HOUSEHOLD finances are still tightly under the squeeze in November, according to data out today, but deteriorated at the slowest rate for nearly two years. Markit’s household finance index hit 39.3 in November, it said, up from 39 in October – but still that would indicate no change – suggesting UK residents are under pressure [...]
Oil baron: How to profit from a chance discovery November 18, 2012 THE argan tree isn’t found in many suburban gardens. Native to southwest Morocco and the Israeli Negev, it grows knotted and thorny, thriving only in harsh semi-desert environments. But Dana Elemara, organic food enthusiast, import-exporter, and supplier to the cosmetics industry, found a way to capitalise on this exotic survivor. Formerly of Goldman Sachs, Elemara [...]
St Paul’s full of Opportunity at appeal launch November 15, 2012 THE CITY descended upon St Paul’s on Wednesday night to launch City A.M.’s Christmas appeal for Opportunity International, including a fabulous auction in aid of the appeal that – along with private donations – raised £211,818 on the night. Stagecoach co-founder Ann Gloag and Pi Capital boss David Giampaolo were among guests treated to a [...]
Asda sales slow as it forecasts a bleak Christmas November 15, 2012 ASDA, the UK’s second largest supermarket, reported a slowdown in third quarter like-for-like sales growth yesterday and struck a sober note in its outlook on the Christmas quarter. Like-for-like sales rose 0.3 per cent in the three months to 30 September, down from 0.7 per cent in the previous quarter and 2.2 per cent in [...]
E&Y gets Farepak audit complaint November 15, 2012 Ernst & Young (E&Y) faces disciplinary action over its audit of the parent company of Farepak, the savings firm that collapsed shortly before Christmas 2006. The Financial Reporting Council said it has filed a disciplinary formal complaint against the big four auditor and one of its former staff for signing off Farepak’s 2005 accounts and [...]
Top English clubs set to agree break even rules November 15, 2012 PREMIER League clubs are close to finalising historic cost-control measures in line with European financial fair play rules following a meeting of chairmen yesterday in London. A number of details, such as whether to include a cap on year-on-year wage bill increases, remain unresolved but it is understood there is broad agreement to proceed with [...]