DTZ books record transactions February 15, 2011 DTZ Investment Management completed a total of £700m of transactions in 2010 – a record for the fund manager in its 40-year history. This was achieved following a particularly strong final quarter, with £130m of transactions completing in December. DTZ IM has actively invested in the UK for a number of pension fund clients looking [...]
Inflation rises to two-year high February 15, 2011 Consumer price inflation surged to double the Bank of England’s target in January, official data showed, raising pressure on the central bank to look seriously at increasing interest rates. The Office for National Statistics said that the rate of consumer price inflation rose to four per cent in January, in line with economists’ forecasts, from [...]
Analysts pan Microsoft and Nokia tie-up February 14, 2011 NOKIA chief executive Stephen Elop defended his firm’s partnership with Microsoft yesterday after the deal sent its shares tumbling a further five per cent. Shares in the Finnish firm have now lost a staggering 19 per cent since the deal was announced on Friday, knocking €6bn (£5bn) off its market value. Elop said Nokia will [...]
New Look value halved after failure to float February 14, 2011 Fashion chain New Look’s value has cut by almost half by its private-equity backers after it failed to float with a £1.7bn price a year ago. The company has been hit by the ongoing tough consumer climate since it shelved its plans to float Last month it said it had been badly hit by the [...]
West End shop sales soar ahead, defying post Christmas slump February 13, 2011 LONDON’S West End stores have seen strong growth in sales in January, despite the rise in VAT and sluggish wage growth, it was revealed today. Retail sales were up 5.8 per cent compared to the same time last year, the New West End Company said. An increase in menswear was particularly notable, it said, reporting [...]
JJB Sports to fight for new rent proposal February 13, 2011 JJB SPORTS was heading for a battle with its landlords and other retailers after confirming its company voluntary agreement (CVA) is to include the renegotiation of two-fifths of its rent payments. The company has warned its biggest landlords, including British Land, Henderson and Prudential, that if its terms for discount rent and tenancy breaks for [...]
BHP and Anglo set for record results February 13, 2011 BHP BILLITON is expected to best its mining rivals with around $15bn (£9.4bn) profit when it reports half-year results on Wednesday. Expectations are high for the Anglo-Australian miner after bumper results from Rio Tinto and Xstrata last week on the back of soaring commodity prices. Analysts at UBS have forecast underlying earnings of $10.7bn, with [...]
Taking the easy route February 13, 2011 GRINNING broadly, my daughter proudly displayed her Ski Esprit certificate – a Little Miss Sunshine award. All week she had smiled as a child helper trudged up the slopes and made sure her boots and gloves were fitting snugly before she practised her “pizza” turns down the nursery trails at Meribel, in France’s Three Valleys. [...]
De Beers returns to profit February 11, 2011 De Beers, the world’s largest diamond producer, returned to a profit in 2010 as production rose 34 per cent amid a strong recovery in diamond prices, although it remains cautious about the market this year. It posted net earnings after one off items of $598m (£372), compared with a net loss of $220m in 2009, [...]
SuperGroup in 87pc bumper sales increase February 9, 2011 RETAILER SuperGroup yesterday posted stellar sales figures after a storming performance over Christmas. The owner of the Superdry brand said yesterday it would be targeting an expansion in online sales and a fresh assault on the European market in 2011. SuperGroup’s total sales rose 87 per cent to £81.7m in three months to 30 January. [...]