Hedge to smooth out the peaks and troughs September 29, 2009 COMPANIES with large foreign currency purchasing exposures are increasingly turning to hedging to protect themselves, using derivative financial instruments such as futures and options. Sterling weakness means currency management has become a necessity for those who buy materials from overseas. Take soft drinks maker AG Barr, for example, which reported strong results on Tuesday. The [...]
OUT OF OFFICE September 29, 2009 RAT PACK AT THE ADELPHINewly opened this week, Rat Pack – Live from Las Vegas celebrates the world of Frank Sinatra, Dean Martin and Sammy Davis Jr in their Vegas heyday. Recreating the glitz, glamour and heady atmosphere of Sin City in the 50s and 60s, the show includes a 15 piece orchestra and a [...]
Orange finds juicy deal for Apple iPhone September 28, 2009 ORANGE has landed the rights to carry Apple’s flagship product the iPhone, ending rival O2’s exclusivity deal with the firm. The mobile operator, which is owned by France Telecom, said it would start selling the iPhone later this year, although it has yet to decide on pricing and exact release date. Orange said yesterday that [...]
LABOUR CONFERENCE NEWS September 28, 2009 Prime Minister Gordon Brown promised new legislation to curb bankers’ bonuses was forthcoming. Chancellor Alistair Darling accused Tories of “playground politics” and said their policies would have turned a recession into a depression. Business secretary Lord Mandelson said Labour were “underdogs” but could win the general election. Just one in three Labour MPs believe they [...]
Farepak starts to send cheques out, three years after its collapse September 28, 2009 Administrators acting for the collapsed Christmas hamper firm Farepak yesterday said they have started sending out cheques to customers who were left out of pocket by the group’s demise. BDO Stoy Hayward, which is acting as liquidator, said cheques worth a total £240,000 have been sent to 6,000 customers who placed orders in the company’s [...]
New Look set for return to public market September 27, 2009 HIGH street retailer New Look is mulling a £1.7bn stock market flotation – six years after it was taken private. The budget fashion chain owned by private equity firms Apax and Permira has enjoyed robust trading throughout the downturn as it steals cash-strapped shoppers away from its mid-market rivals. Founder Tom Singh, who still owns [...]
THE TIPSTER ALL EYES ON GDP FIGURES THIS WEEK September 27, 2009 A LOT of bullish confidence is riding on the expectation that the UK will exit recession in the third quarter and so investors will be keenly interested in the final second quarter GDP figures for the UK, which are released tomorrow. Cable (sterling-dollar) could move on the back of any surprises and the pair has [...]
Game Group profits tumble as new releases fail to impress consumers September 23, 2009 VIDEO games retailer Game Group yesterday posted a 60 per cent slump in first-half profit and said sales were continuing to fall. The group said profits had crashed to £10.8m in the six months to 31 July, from £32.5m in the same period last year. The company had told shareholders to expect profits between £13m [...]
Business activity picking up across the eurozone September 23, 2009 PRIVATE sector output in the eurozone increased for the second consecutive month in September, as the services sector returned to positive territory, according to data released yesterday. Markit’s purchase managers index (PMI) for the eurozone rose to a 16-month high of 50.8 in the period, up from 50.4 in August, though this was a smaller [...]
CITY ON THE CUSP OF APPOINTING NICK ANSTEE AS NEXT LORD MAYOR September 23, 2009 UNDER a week to go until the appointment of the man who will replace Lord Mayor Ian Luder at the helm of the City of London. The new boss won’t officially take up residence in his swanky Mansion House digs until his official inauguration in November, though the election – if you can call it [...]