Barclays Bank shakes up board ahead of ringfencing changes March 19, 2018 Barclays has reshuffled its board ahead of the creation of a separate retail and small business bank, as required by the UK’s ringfencing legislation. The bank is transferring its UK retail and small business operations to a new bank, Barclays Bank UK. Barclays Bank PLC will continue to own the group’s corporate and investment bank, [...]
Carpetright share price drops nearly 50 per cent as it warns profits will be “significantly” lower January 19, 2018 Troubled retailer Carpetright has slashed its full-year profit expectations after a “sharp deterioration” in UK trading. Shares in the firm dropped more than 48 per cent to 85p at the market open. UK like-for-like sales dropped by 3.6 per cent in the period due to lower customer footfall, the company said in a gloomy trading [...]
Barclays to install ex-boss of B&Q-owner Kingfisher Sir Ian Cheshire as chair of its UK operations February 26, 2017 Barclays is set to announce Sir Ian Cheshire as chair of its UK ringfenced operations tomorrow. Under the ringfencing rules, banks have until 2019 to split their retail units away from their investment divisions. Sky News, which first reported the news of Cheshire's impending appointment, revealed the Prudential Regulation Authority, the banking sector watchdog, has now [...]
Don’t get left behind: Staying ahead of the future of leadership October 18, 2016 For centuries, predicting what leaders would look like in the future was simple. Just look at the past and repeat: a succession of commanders and controllers, almost exclusively male, fighting to reach the top. Why might leadership in the rest of the 21st century look different? Two reasons: new science and new people. First, science. As [...]
No Brexit storm for Kingfisher as it retains DIY crown with higher sales and profits September 20, 2016 B&Q owner Kingfisher has posted a strong set of results for the first six months of its financial year and said there is "no evidence" the EU referendum result dented its performance, sending its shares up two per cent at the open. The figures The DIY giant, which also owns Screwfix, said underlying pre-tax profits [...]
B&Q owner Kingfisher says it is still on track with its “ambitious” five-year plan May 24, 2016 DIY retailer Kingfisher posted growth in the majority of its markets in a trading update released this morning and said it was on track to deliver its "ambitious" five-year plan. The figures Total sales rose 5.1 per cent for the group to £2.73bn, including new openings in the three months to April, in line with expectations. [...]
Australia’s Wesfarmers in advanced talks to buy Home Retail Group’s Homebase for £340m January 13, 2016 Home Retail Group last night signalled the break-up of its retail empire after revealing that it is in advanced talks to sell Homebase to one of Australia’s biggest listed companies for £340m. The Perth-based Wesfarmers, which operates department stores and supermarkets as well as coal production facilities, began talks with Home Retail in September before [...]
Bank’s decision to hold rates helps FTSE rise – London Report October 9, 2015 THE BANK of England’s decision yesterday to keep interest rates at record low levels contributed to rises in the blue-chip FTSE 100 index. A continuing surge in energy and mining shares also helped the index to maintain a run of rises. The FTSE 100 ended 0.6 per cent stronger at 6,374.82 points, outperforming major European [...]
FTSE lifts after strong opening on Wall Street – London Report September 16, 2015 Britain’s top equity index turned higher in thin trade yesterday, as a strong start to trade on Wall Street helped lift mining stocks off their lows. The blue-chip FTSE 100 index closed up 0.9 per cent higher at 6,137.60 points, turning higher as Wall Street gained following a climb in retail sales. The move helped [...]
Weaker French demand weighs on Kingfisher September 16, 2015 SHARES in Kingfisher took a hit yesterday after the B&Q and Castorama owner said weaker-than-expected demand in France offset a stronger sales performance in Britain. The DIY giant, which also owns Brico Depot and Screwfix, said adjusted pre-tax profits fell by 2.3 per cent to £384m in the six months to 1 August, blaming adverse [...]