JD Sports sees consumer confidence headwinds November 23, 2011 Sport retail chain JD Sports Fashion has issued a trading statement of two halves, saying its sales improved until mid-September but declined substantially after that until November. In a downbeat assessment of falling UK consumer sentiment, the company warned that it was having to work hard to sustain its margins as customers spent less. In [...]
KEY BANK REFORM SET TO BE DITCHED November 22, 2011 THE TREASURY is preparing to water down a key recommendation in the Vickers report that would protect savers in the event of a bank going bust. Investors and banks have argued that Vickers’ suggestion that retail depositors should be paid back before all other creditors if a bank collapses could risk destroying the market for [...]
Thanks to all the generous donors to our appeal so far November 22, 2011 WE ARE just three days into our first-ever City A.M. Christmas appeal and we have been overwhelmed by the generosity of our readers so far. Donations have been pouring in via website and text and we are delighted to announce that we have reached a grand total of £87,567.75 by the end of our second [...]
£90,000 RAISED IN TWO DAYS November 22, 2011 WE ARE delighted that City A.M.’s Christmas appeal has had such a spectacular and successful start. There is still time for you to make your contribution to the campaign. You can donate through any of the easy ways available: send a text; visit our appeal website, www.cityam.com/appeal; or by phone. We are delighted that [...]
OUT OF OFFICE November 22, 2011 HYDE PARK WINTER WONDERLAND The Hyde Park Christmas extravaganza is your one-stop-shop for everything festive. Get a few snaps of the kids bobbing on Santa’s knee, wander through snowy Christmas markets and check out a show in the circus tent. Take time out on the big wheel, where you can look down on everyone else [...]
CAR TALK November 22, 2011 BMW The World’s press have been driving the new, fifth generation BMW M5. The car’s 560bhp V8 engine replaces the bigger, less economical V10 of the previous M5 meaning fuel consumption is down by 30 per cent to 28.5mpg (combined). Capable of 0-62mph in 4.4 seconds and 155mph the new M5 costs £73,040 OTR. AUDI [...]
New Spanish PM refuses to lay out plans November 21, 2011 PRIME Minister-elect Mariano Rajoy resisted pressure yesterday to disclose his plans for rescuing Spain from economic disaster, keeping anxious Spaniards and impatient investors on edge following his election triumph. The landslide victory of his conservative People’s Party (PP) at the polls on Sunday failed to lift investors, who were desperate for some detail on his [...]
Eight in 10 households to cut or freeze Xmas spend November 21, 2011 OVER three in 10 households are planning to spend less this Christmas than last year, a worrying survey for the retail sector revealed yesterday. And the survey, conducted by Legal & General, showed that over half (51 per cent) of respondents will restrict their spending to “no more than last year”. The squeeze on Britons’ [...]
Lion delays its fundraising November 21, 2011 Private equity house Lion Capital has held open its €2bn (£1.72bn) fundraising until after Christmas, it emerged yesterday. The buyout group, which has invested in cereal firm Weetabix, frozen food firm Findus and lingerie-maker La Senza, hopes to raise another €500m in the New Year. Lion is also thought to have spent more than £13m [...]
RAPID RESPONSES November 21, 2011 Xmas trimmings Your comment pieces by Detlev Schlichter and Andrea Leadsom yesterday reminded me of an entry in The Anglo-Saxon Chronicle – “In this year [1124] before Christmas King Henry gave instructions that all the moneyers who were in England should be deprived of their members, namely the right hand of each and their testicles [...]