De Beers to boost production June 4, 2009 De Beers managing director Gareth Penny, said yesterday diamond inventories have now fallen to levels justifying a ramp-up of production, with signs that the key Christmas sales season will be better than last year. The world’s largest diamond miner said stocks are 20 to 30 per cent down from their mid-2008 peaks. The company had [...]
LUXURY FIRMS OUT TO IMPRESS AT WALPOLE GLAM LAUNCH PARTY June 2, 2009 WHEN it comes to impressing the great and the good of the City, Mayfair and Westminster, the firms which made the cut for this year’s Walpole Brands of Tomorrow pretty much have it licked. The luxury companies on the 2009 list gathered last night at Brown’s Hotel in the West End to drink champagne and [...]
AN ABUNDANCE OF GLITTER FOR THE ASIAN WOMEN OF ACHIEVEMENT May 21, 2009 LONDON’s most successful Asian ladies were out in force on Wednesday night for perhaps the sparkliest evening of the year, the Asian Women of Achievement Awards, in association with Lloyds TSB. The star-studded guest list included Prince Charles and Camilla, Duchess of Cornwall, as well as BBC Dragon James Caan, MP Tessa Jowell, Lib Dem [...]
You’re never Gunner derail United’s title bid May 14, 2009 MANCHESTER UNITED VS ARSENALAFTER a few worries in March, Manchester United are cantering towards an incredible 11th Premier League title and it looks like Sir Alex Ferguson will be lifting the trophy in front of his oldest adversary, Arsene Wenger. The win against Wigan on Wednesday night means that United now only require one point from [...]
Rates left on hold as MPC split looms September 5, 2008 Bets were rising yesterday that the Bank of England meeting to determine the direction of interest rates was one of the most fraught on record. In the end the Monetary Policy Committee (MPC) decided to leave rates on hold at five per cent, but with members Danny Blanchflower and Charlie Bean going head to head [...]
Signet fails to shine as sales slump bites September 4, 2008 The World’s biggest speciality jewellery retailer, Signet, has announced a 7.8 per cent fall in first half pre-tax profit, slightly better than analysts had feared. Signet warned that the consumer environment in both the US and the UK remained “very challenging”. Investec had forecast profits of $75.3m (£42.3m), five per cent lower than those reported. [...]
DSG cautious after sales dip at PC World September 4, 2008 Nine months into the job, John Browett, chief executive of DSG International announced yesterday he was not foreseeing a “chance for recovery until 2010”, following a first quarter slump in the market. Like-for-like sales in the 16 weeks to 23 August fell seven per cent on the same period last year, led by 12 per [...]
Sterling falls further September 4, 2008 Sterling continued its sharp decline yesterday as currency markets reacted to the worsening outlook for the UK economy and a slew of negative economic data. Surveys showed consumer confidence mired at a four-month low in August as food prices rose ten per cent year-on-year. Other data showed activity in the services sector still weakening. The [...]
Going short is not necessarily the answer September 2, 2008 A medium or long term approach may be wisest just now, says Katie Hope Its’ like a grim version of “when I were a lad…” working in the City at the moment. Everyone’s trying to out-do themselves in describing just how bad things have got. Going to school barefoot barely makes the grade in terms [...]
Woolies’ investor backs management September 1, 2008 Ardeshir Naghshineth, the largest shareholder in Woolworths, has backed the struggling retailer’s management team in rejecting a £50m takeover bid from Iceland founder Malcolm Walker. Iranian property investor Naghshineth, said to be worth an estimated £500m, has a 10.2 per cent stake in the firm and was yesterday reported to consider Walker’s bid as being [...]