As the Conservative conference begins, will the party recapture the political initiative? October 7, 2012 YES Alex Singleton It’s easy to underestimate David Cameron and write him off as wishy-washy. But he’s actually one of the most determined men in politics, who will ruthlessly ditch policies that he deems electorally damaging. His reshuffle last month gave a clear indication that he is listening to critics. Some want to write him [...]
Best of the Brokers September 9, 2012 DIXONS Kate Calvert at Seymour Pierce has upgraded Dixons, owner of the Currys and PC World electronics chains, from “Hold” to “Buy” with a target price of 24p. The move is to reflect strong momentum in its core UK and Scandinavian businesses driven by “market consolidation and a strong innovation pipeline”. She says the firm [...]
Dixons wins Olympic boost from TV sales September 6, 2012 DIXONS Retail said this summer’s sporting events helped boost trading at its UK and Irish operations, as Europe’s second largest electricals retailer posted a five per cent rise in first quarter like-for-like sales. Chief executive Sebastian James said customers bought five times as many 55 inch TVs and treble the amount of Smart TVs than [...]
Dixons maintains solid start in first quarter September 6, 2012 Dixons, Europe’s second-largest electrical retailer, maintained its solid start to the year with five per cent like-for-like sales growth in the first quarter, boosted by a busy summer of events in Britain. The group, which also trades as Currys and PC World in the UK, Elkjop in Nordic countries, Unieuro in Italy and Kotsovolos in [...]
Retailers to stock up on Campbell’s September 4, 2012 CAMPBELL Soup posted better-than-expected quarterly profit yesterday, as it announced it was increasing the price of the iconic red and white cans. Campbell is trying to turn around performance with a new product range, including Thai curry sauce. Net income was $127m (£80m) in Campbell’s fiscal fourth quarter to 31 July, up from $100m a [...]
CITY MOVES WHO’S SWITCHING JOBS July 29, 2012 Lloyds Bank Matthew Packham has been appointed head of the trade, industrials and services sectors at Lloyds Wholesale Banking and Markets. He was previously regional director of the bank’s business support unit, and has also served as head of credit for Lloyds’ US structured finance and financial institutions business. Norton Rose Neil O’May has been [...]
Currie to head antitrust body … July 17, 2012 FORMER Ofcom boss Lord Currie has been chosen as the first chair of the Competition and Markets Authority – the UK’s new antitrust regulator. Currie will earn £185,000 a year for the three-day a week commitment, serving as chair of the body for a four-year term beginning this summer. The CMA is part of the government’s [...]
Roast still does British cuisine (pretty) well July 2, 2012 RESTAURANT ROAST The Floral Hall, Stoney Street, SE1 1TL Tel: 0845 034 7300 FOOD *** SERVICE **** ATMOSPHERE *** Cost per person without wine: £45 Roast has been around for six years. There was a time when it was one of the foodiest restaurants in London, by which I mean the sort of place those [...]
Scandal is devastating blow to every bank July 1, 2012 IN THE bad old days of 2007 and 2008, at 11am each day, we’d wait with mounting anticipation for the London Interbank Offer Rate (Libor). Queues formed outside branches of Northern Rock, HBOS, RBS and Lloyds teetered on the edge of unsustainability, and we (foolishly) looked to Libor to tell us quite how bad things [...]
Dixons plans to shut 40 shops as profits sink June 21, 2012 THE CHIEF executive of Dixons Retail said the group is planning to axe a further 40 stores on UK high streets as it reported a 17 per cent fall in pre-tax profits to £70.8m. Sebastian James, who replaced John Browett in February, said he intends to trim down its estate of 557 shops to about [...]