Online retailers face OFT action October 12, 2012 Over a third of the UK’s top online retailers could be breaking consumer laws, the Office of Fair Trading (OFT) announced today. The OFT conducted checks on 156 popular websites, finding that 62 retailers may not be fully compliant with distance-selling regulations and other consumer protection guidelines. In particular, the OFT expressed concerns that 33 [...]
Rothschild told to give up £40m October 11, 2012 INFLUENTIAL Indonesian family the Bakries yesterday called on financier Nat Rothschild to give up his 12 per cent shareholding in miner Bumi, worth more than £41m. The Bakrie brothers, who own 23.8 per cent of London-listed Bumi, want Rothschild to give up his 16m bonus shares in Bumi, which he was awarded when his acquisition [...]
WH Smith boss Kate Swann to leave retailer October 11, 2012 WH Smith yesterday announced Kate Swann is to step down as chief executive next year after heading the retailer for almost a decade. Swann will hand over the reins to Steve Clarke, managing director of the group’s high street division, next July after overseeing its crucial Christmas period and ensuring “a smooth transition” of the [...]
Bakries propose divorce from Bumi October 11, 2012 Indonesia’s influential Bakrie family have asked to cancel their shareholding in miner Bumi, offering to take back the Indonesian assets they brought in less than two years ago. In a statement this morning, Bumi, founded by Nat Rothschild, said that the Bakrie group proposed cancelling their 23.8 per cent shareholding in the London-listed miner. In [...]
Thorntons pins hopes on Xmas as its sales melt October 10, 2012 HIGH STREET chocolatier Thorntons is banking on a much-needed Christmas boost to its turnaround strategy, as store closures led to a decline in sales over the past year. In the fourteen weeks to 6 October trading was in line with expectations, with total sales falling by one per cent year-on-year to £46m, hit by the [...]
Don’t forget the batteries this Xmas October 10, 2012 Angry Birds Mega Smash £24.99 The latest creation from the makers of the all conquering smartphone game sees you destroying real-life pigs. Smashing fun. www.toysrus.com Leap Frog LeapPad 2 £89.99 Over 200 cartridge and downloadable games make learning fun for ages 3-9 – and ensure your kids are kings of the tablet generation. www.leappad2.co.uk Web [...]
Burberry and WH Smith in the spotlight October 7, 2012 A RAFT of economic information due out tomorrow will shed light on whether the UK is gradually pulling out of its double-dip recession. The British Retail Consortium (BRC) will release its sales data for September, following a gloomy August where the Olympics failed to boost spending and like-for-like retail figures fell 0.4 per cent compared [...]
Sainsbury beats expectations but warns of food price rises October 3, 2012 J SAINSBURY warned yesterday that shoppers face an increase in food prices this Christmas after one of the worst harvests in decades, as the grocer posted better-than-expected quarterly sales growth. Commercial director Mike Coup said the wet summer weather made it difficult to plant crops of winter vegetables like carrots and potatoes. It may for [...]
Here’s a radical idea: Let’s take stock before introducing more regulation October 3, 2012 FINANCIAL services regulations aren’t like London buses, where you wait around for ages and then three come along at once. There’s no waiting around, and they come by the busload all the time. So far this week, we’ve had Ed Miliband threatening to break up the banks, and then the EU’s Liikanen report calling for [...]
Battle of the hot new e-readers October 3, 2012 Kindle Paperwhite, $119 (US price) Amazon says this is the Kindle it has always wanted to build. The Paperwhite is similar to the Kindle Touch but with one important difference – it comes with a built-in light that “evenly illuminates the screen”, allowing you to read in the dark. The only problem is, if you live [...]