Why Richard Branson isn’t afraid to fail: Four Virgin businesses that didn’t work out September 9, 2014 It was only a year ago that Richard Branson was prancing around in a red kilt at the launch of Little Red, his domestic airline for the UK, which was designed to provide competition after British Airways owner International Airline Group acquired BMI. Since its launch, though, Little Red has been dogged by rumours [...]
Biggest bank IPO of the year, as RBS values US bank Citizens at up to $14bn September 8, 2014 RBS hopes to raise $3.5bn (£2.2bn) by selling the first chunk of its US retail bank Citizens, the bailed-out bank announced yesterday. It will be the biggest banking sale of the year, and reflects the renewed confidence markets have in newly-floated stocks. RBS is selling Citizens as part of its wider plan to cut back foreign [...]
Virgin on ridiculous: Four businesses showing how Richard Branson likes to “fail fast” September 8, 2014 It was only a year ago that Richard Branson was prancing around in a red kilt during the opening of Little Red, his domestic airline for the UK, which was designed to provide competition after British Airways owner International Airline Group acquired BMI. Since its launch, though, Little Red has been dogged by rumours [...]
City AM awards: Business of the Year nominees announced September 7, 2014 I have great pleasure in introducing the first of our shortlists for the annual City A.M. awards. As ever, the awards have attracted nominations from all sorts of diverse businesses and people who have done great things during the course of the past year, a year of recovery in the UK. We have taken on [...]
And the nominees are… September 7, 2014 TOMORROW: ACCOUNTANCY FIRM OF THE YEAR ALDI The German discounter has taken the British high street by storm. Aldi now has a 4.6 per cent share of the UK market, up more than one third in a year due to consumers choosing its quality and low prices over the more established retailers. It has even [...]
London Report: Retailer data to reveal strength of UK recovery September 7, 2014 THE NEWLY-MERGED Dixons Carphone will report its maiden quarterly results tomorrow in a week containing a flurry of updates for retailers. Figures for the company, whose merger only completed a month ago, will be keenly watched by investors, who will be hoping the firm’s planned synergies are starting to take effect. Other retailers due to [...]
Barts Square: A new quarter in the heart of the City September 5, 2014 Behind the shimmering tower of 200 Aldersgate – a modern office block at London Wall – is a myriad of streets that once served as the City of London’s trading lifeline. They wind in between Smithfield meat market, the Barbican, St Bart’s Hospital and up to the Old Bailey and the cells of Newgate Street. [...]
SuperGroup gets ready for a hot autumn with “broadest and best range of jackets” September 4, 2014 SuperGroup boss Julian Dunkerton declared yesterday that sales were back in shape after the colder weather and the approach of autumn drove customers back into its stores. The owner of the Superdry fashion brand posted a 3.7 per cent decline in like-for-like sales in the first quarter of the year to 27 July after facing [...]
Flotations outperform FTSE by over five per cent September 4, 2014 New listings on the London stock market have generated better returns for investors than the FTSE 100 this year, despite some prominent private equity-backed flops, a survey shows. The 28 initial public offerings of shares between the turn of the year and the end of August achieved an average return of seven per cent – [...]
Battersea Power Station kicks off world tour to find retailers September 4, 2014 The owners of Battersea Power Station are to kick-off a worldwide tour to find hundreds of retailers, restaurants and office tenants for the next phase of its development. From November, the Malaysian-owned Battersea Power Station Development Company intends to hold exhibitions in 13 cities across 11 countries, from New York to Milan, Paris, Tokyo, Beijing [...]