Engineering giant Tomkins closes in on $550m sale of its tyre safety business November 20, 2011 ENGINEERING giant Tomkins is closing in on a sale of its tyre safety arm, with a string of private equity firms understood to be monitoring the asset. The firm’s valves and gauges business could also be hived off in what would be a major restructuring of Tomkins’ Northern Irish business, according to the Sunday Telegraph. [...]
H&M in same store sales dip November 15, 2011 SWEDISH fashion group Hennes & Mauritz yesterday posted a second straight monthly fall in sales at established stores in October as the debt crisis in the Eurozone pushed consumer sentiment even lower. H&M said same-store sales in October fell two per cent. Total turnover for H&M, including newly opened stores, rose eight per cent in [...]
CITY MOVES | WHO’S SWITCHING JOBS November 13, 2011 Crest Nicholson The house builder has appointed Trevor Selwyn as managing director of a newly formed London division. The new division will have an annual turnover of £100m, developing mid-range sites in and around the capital. Selwyn was formerly at Countryside Properties, and spent his last seven years there as land director for subsidiary Copthorn [...]
Shares in GM tumble after profits drop November 9, 2011 GENERAL Motors posted a third-quarter profit that fell 15 per cent after a loss in Europe, and disappointed investors with a forecast that closed the door on any improvement in the current quarter. GM vowed to slash costs to shore up margins in a sputtering economy but its fourth-quarter outlook disappointed investors and sent shares [...]
Spurs ponder legal action over OPLC spying claims November 8, 2011 TOTTENHAM chiefs were last night considering taking legal action after they were accused of systematic and widespread spying on all 14 of the men and women who decide the fate of the Olympic Stadium. On an extraordinary day of developments in the long-running row over the fate of the new London 2012 arena, the chair [...]
The Japanese disease: How its corporate culture turns disasters into catastrophes November 8, 2011 IT HAS not been a good few years for Japan PLC. In 2009, its car industry was plunged into crisis after Toyota was forced to recall 6m vehicles following a series of fatal accidents in the US. Then came the tragic Japanese earthquake, which had a chilling effect on businesses. A few months later, Sony [...]
Selfridges to buck the high street gloom November 6, 2011 SELFRIDGES, the British chain of high-end department stores, will this week report a surge in profits thanks to the resilience of the luxury goods market. The company, which is owned by Canadian billionaire Galen Weston, is expected to report a 19 per cent jump in profits later this week, after sales at is stories in [...]
CAR TALK November 1, 2011 FORD’S YOUNG-DRIVER PROTECTION TECHNOLOGY Ford has introduced technology which helps parents to prevent young drivers from receiving calls while driving. The feature, which is part of Ford’s MyKey technology, is called “Do Not Disturb” and blocks incoming phone calls or text messages from a Bluetooth-paired mobile phone. Calls are diverted to voicemail and text messages [...]
Asia presses the brakes on Ford recovery October 26, 2011 THE UNCERTAIN nature of the recovery in the global car market was underlined yesterday as Ford posted a dip in third-quarter profit. America’s number two car-maker also cut its profit margin forecast for this year after racking up losses in Europe and Asia. It said it had been hit by slowing growth in China and [...]
Ford profit falls on one-off charge but sales rise October 26, 2011 US carmaker Ford has said its sales rose in the third quarter, helping it to beat market forecasts despite booking a slight fall in profits. Ford’s third quarter net profit fell two per cent to $1.65bn (£1bn) compared with the same period in 2010, while earnings per share were $0.41, down from $0.43 in the [...]