Dixons Carphone share price falls 5 per cent after JP Morgan broker downgrade makes it the biggest faller on the FTSE 100 January 27, 2015 Dixons Carphone's share price fell as much as 5.6 per cent in early afternoon trade today, making it the biggest faller on the FTSE 100, after a broker downgrade. Morgan Stanley slashed the stock's rating to "underweight" from "equal weight," saying the shares were significantly overvalued and that it was "not a growth business." "While [...]
CVC Capital Partners sells 12 per cent stake in Indonesian department store PT Matahari January 26, 2015 British private equity giant CVC Capital Partners has offloaded a 12 per cent stake in Indonesian retailer PT Matahari Department Store in two separate deals, it emerged yesterday. In the first deal, the London-headquartered CVC Capital Partners raised 3.67 trillion Indonesian rupiah (£195m) – known as IDR – through the sale of eight per cent [...]
Centre Point revamps with luxury apartments and new retail space January 26, 2015 Work is beginning on London's iconic Centre Point Tower today in the hope of creating a swanky new retail and restaurant destination in the heart of the capital. The 1960s skyscraper, owned by investment company Almacantar, will be home to 82 luxury apartments as well as new retail and restaurant space. A new public piazza [...]
Jimmy Choo’s a shoe-in with post-IPO revenue rise January 23, 2015 Jimmy Choo net revenue rose 12 per cent to £299m in the year to December, marking a positive start to its London Stock Exchange listing. Foreign exchange fluctuations had some effect on the numbers however with revenue climbing 6.2 per cent on a constant currency basis. The firm said Asia and Japan continued to deliver [...]
More hotdesking or straight to the broom cupboard? BBC told to improve space usage to meet targets on estate costs January 22, 2015 Fans of BBC spoof W1A – in which the hotdesking policy means there is never enough space, even for the mighty Hugh Bonneville – could chuckle at the National Audit Office's review of Aunty's estate management issues. Because although it has made "significant achievements" in reducing the cost and size of its estate, as [...]
Rihanna 1, Topshop 0: Singer wins t-shirt image legal battle against Arcadia January 22, 2015 The pop singer Rihanna has won a legal battle against high-street fashion favourite Topshop over a t-shirt. The Court of Appeal in London has upheld a previous ruling that the Arcadia retailer used an image of the singer on a top without her permission. While a celebrity's image can’t be trademarked, judges ruled that some people [...]
HSS Hire IPO: Share price revealed January 22, 2015 Tool and equipment hire company HSS Hire will list on the London Stock Exchange said today shares will be priced in the 210p-262p range when it IPOs later this month. The company announced plans to list on the London Stock Exchange earlier this month, with analysts putting its value at £103m. The money generated [...]
Rental values put Land Sec in good shape January 21, 2015 LAND Securities yesterday said its business and markets were in good shape, with rental values rising in London due to a shortage of new office space. It forecast that interest in its schemes would remain strong despite the political uncertainty in the UK and abroad. The commercial property company, focused on London and retail developments, [...]
City Moves for 22 January 2015 | Who’s switching jobs January 21, 2015 CFA Institute The investment professionals’ body has appointed Paul Smith as president and chief executive. He was managing director for Asia-Pacific and global head of institutional partnerships at the CFA Institute. Smith has also held senior positions at Bank of Bermuda, HSBC, and Asia Alternative Asset Partners. Societe Generale Private Banking Eric Verleyen has been [...]
Marks & Spencer seeks customer loyalty with digital coffee app trial January 21, 2015 Marks & Spencer's chief executive Marc Bolland knows something about the power of loyalty. In his case it's shareholder (and staff) sticking with him despite three and a half years-worth of consecutive declines in clothing sales. But the business is also awakening to the fact it's quite helpful if your customers are loyal, [...]