Russian hypermarket Lenta eyes expansion as its sales accelerate July 16, 2014 Russian hypermarket chain Lenta said it expects full-year sales to accelerate further despite the backdrop of a slowing economy, as it aimed to expand its presence across the country by a third. The group, which floated in London in February, expected sales to grow by 34 to 38 per cent this year, a step up [...]
Quindell bids to reassure investors July 14, 2014 Quindell, the Aim-listed insurance firm whose shares plummeted 60 per cent following a scathing blog post by US short seller Gotham City Research, came out fighting yesterday with a bullish trading statement showing a 117 per cent jump in revenues over the past six months. Shares in the firm rose 30 per cent on the [...]
London Report: FTSE 100 lifted by Sports Direct and Shire talks July 14, 2014 BRITAIN’S top equity index rose for a second straight day in thin trade yesterday, helped by rises in bid-target drugs firm Shire and retailer Sports Direct. Shares in Shire hit a record high of 5,045 pence – before paring back gains into the close – after its board said it was ready to recommend a [...]
Smithfield has been saved from destruction – now we must rescue it from neglect July 14, 2014 Eric Pickles’s rejection of the redevelopment plans for Smithfield Market will have been as surprising and unwelcome to the City of London as Germany’s stunning World Cup defeat of the home team was to Brazil on the same day. But for both, the events of last week could turn out to be a blessing in [...]
London Report: Unemployment figures set to show recovery July 14, 2014 UNEMPLOYMENT figures this week are expected to show that the number of people out of work has dropped again, as the UK recovery takes hold. Jobs data is likely to show an unemployment rate of 6.5 per cent in the three months to May, down from 6.9 per cent in the quarter to February. Despite [...]
Sunday trading laws are outdated: They hurt us consumers in our wallets July 14, 2014 If you woke up early yesterday morning and thought it might be a good time to get the weekly shop done, you would have had to forget it. Sorry, this is England. If you want to go shopping, move to Scotland, where big supermarkets like Sainsbury’s open early and stay open until 10pm on a [...]
City Moves for 11 July 2014 | Who’s switching jobs July 10, 2014 BNP Paribas Real Estate The property adviser has appointed Pippa Evans as UK HR director. She has most recently been working on an interim basis at HSBC. Evans was also formerly HR director at Liberty Mutual Insurance Europe, and senior HR business partner at Schroders Asset Management. KPMG The professional services firm has announced two [...]
Fat Face boss keeps the float dream alive July 9, 2014 FAT FACE chief executive Anthony Thompson would not rule out a second attempt at listing shares in London yesterday, just weeks after market nerves forced the retailer – whose casual clothes are modelled above – to abandon plans for a £300m-plus flotation. Thompson said the firm would have “to see what happens”.
Fat Face puts IPO in past with record sales July 9, 2014 Fat Face said yesterday it had put its botched flotation plans behind it for now and that it was “business as usual” after the retailer delivered record full-year sales and profits. After an impressive start to the year, London’s new issues market balked at the sheer number of companies coming to the market, prompting Fat [...]
City Moves for 10 July 2014 | Who’s switching jobs July 9, 2014 Regis The global property investor has appointed Syd Taylor as its UK-based chief financial officer. Taylor’s 25 years of experience include director level roles with Rockmount Capital, ING Real Estate, Goldman Sachs and Great Portland Estates. Smith & Williamson Peter Mitchell has joined the accountancy and investment management group as head of banking. Mitchell joins [...]