Intertek leads the way as FTSE buoyed by data – London Report October 29, 2014 BRITAIN’S top equity index yesterday rose to its highest level in nearly three weeks on the expectation that the US Federal Reserve would signal that it was in no rush to raise interest rates. However, late last night – after the London close – investors elsewhere in the world were betting that a US rate [...]
Nomura is big in Japan, but weak in Europe October 28, 2014 NOMURA’S shares shot up yesterday as investors welcomed healthy growth in the Japanese banking group’s profits. Net income came in at ¥52bn (£298m) in the second quarter of the bank’s financial year, up 39 per cent on the same three-month period of 2013. Revenues climbed five per cent to ¥373.8bn, while non-interest expenses increased six [...]
UK house price boom bolsters web shopping October 26, 2014 HOUSE price gains helped fuel consumer spending over the past year with new research suggesting a substantial rise in internet searches for home and garden products. Total search volumes for home and garden products grew by 15 per cent in the third quarter of 2014 compared with the same quarter in 2013, figures released today [...]
Tesco share price drops to its lowest in over a decade October 24, 2014 After a devastating few days for Tesco, it would be understandable if the supermarket’s head honchos woke up this morning thinking things couldn’t get much worse. Unfortunately, though, the misery continued this morning after Tesco’s share price crashed to its lowest price for over a decade. Shares in the stumbling retail giant fell [...]
FTSE recovers but Tesco’s woes drag down rival retailers – London Report October 23, 2014 BRITAIN’S top equity index recovered yesterday and ended slightly higher, tracking a broad rally in US stocks following some strong earnings results, although a slump in Tesco and Unilever capped gains. The FTSE 100 index ended up 0.3 per cent at 6.419.15 points, after falling as much as 1.4 per cent during the day. Troubled [...]
Islamic banking UK: Islamic Bank of Britain re-branded to Al Rayan Bank as number of non-Muslim investors grows October 23, 2014 The Islamic Bank of Britain has unveiled plans to change its name to Al Rayan Bank, as it aims to increase its presence in London and acquire a wider range of customers. It will also update its logo and all other aspects of its brand identity across its website and UK branches. As long [...]
Euan Sutherland relaxes into SuperGroup’s clothing after taking on chief exec role October 22, 2014 Euan Sutherland looked relaxed and rested yesterday as he announced his new role as chief executive of high street fashion retailer SuperGroup. As if to prove his unswerving loyalty to the cult brand, the soft-spoken 6ft 6in Scotsman is dressed head-to-toe in Superdry clothing, including a navy blue pea coat, which he enthuses is “absolutely [...]
Tesco firefighter Dave Lewis has no time to pause as results come in October 22, 2014 It's day 53 for Dave Lewis as chief executive of Tesco. Ordinarily, that might be a time for a new boss to pause for breath, but the firefighting engulfing him since his arrival looks like the first act of a much longer-term drama. The word emerging from Tesco’s Cheshunt HQ is that there will [...]
Apple Pay is only the start: Mobile wallets are about to take off October 21, 2014 It’s here folks. Well, in the US at least. Yesterday, a string of American retailers (including Bloomingdale’s, Foot Locker and Toys R Us) started accepting Apple Pay transactions, allowing consumers to make payments through credit card information stored on the new iPhone. Exciting stuff, but haven’t people been predicting the end of cash for some [...]
Another IPO bites the dust as webuyanycar.com owner BCA Marketplace pulls its listing October 21, 2014 Is this the end of London's short-lived IPO boom? Used car auctioneer BCA Marketplace – the owner of webuyanycar.com – has become the third company in two weeks to cancel its IPO, saying volatility in global equity markets has put it off. The news follows much-publicised shelvings of IPOs by challenger banks Aldermore and Virgin Money, [...]