The stiff competition facing Royal Mail May 21, 2014 Ahead of its first set of full-year results as a listed company tomorrow, Royal Mail’s announced it’s going to trial delivering parcels on Sundays. Later this summer, it’ll open about 100 offices on Sunday afternoons for customers to pick up parcels. It’ll also pilot delivering parcels within the M25; and from June, Parcelforce Worldwide, its [...]
Carpetright in the red as Lord Harris takes his leave May 21, 2014 Shares in Carpetright fell over three per cent this morning, after the listed company announced the end of an era this morning. Both Lord Philip Harris and his son, Martin Harris, will be leaving the company, with Wilf Walsh named as the new chief executive. The executive chairman will retire in September, while his son [...]
Shoe Zone £80m float to trigger £36m payout for family owners May 20, 2014 THE FAMILY behind discount footwear chain Shoe Zone will take home around £36m when the firm launches on London’s junior stock market this week. Shoe Zone has priced its shares at 160p, giving it a value of around £80m when it starts trading on the Alternative Investment Market on Friday. It was initially looking at [...]
Greencore splashes out on new factory to fuel growth in the US May 20, 2014 GREENCORE, the food group that supplies retailers with everything from sandwiches to Yorkshire puddings, announced plans to step up its expansion in the US as it reported an eight per cent rise in half-year revenues yesterday. The London-listed group, whose biggest clients in the US include Starbucks and 7-Eleven, said it will spend £20m on [...]
Investment Comment: How to invest in markets that are now hitting all-time highs May 20, 2014 The UK and US are consistently beating growth expectations – but sensible investors should proceed with caution THE GOOD news? The UK economy is recovering very well, consistently beating growth expectations. We’re seeing increasing levels of merger and acquisition activity, while the FTSE 100, S&P 500 and Dow Jones indices have all been at, or [...]
Is the love affair with Whole Foods over? May 20, 2014 Whole Foods, the supermarket of choice for health conscious organic food lovers, is being stalked by scores of hedge funds betting on a further fall in its share price, figures out today show. Short selling interest in the business – which is measured by calculating the number of shares out on loan in a company [...]
What the other papers say this morning – 20 May 2014 May 19, 2014 FINANCIAL TIMES EU banks face debt sale clampdown European regulators are seeking to clamp down on the sale of debt by banks to their own retail customers, amid fears savers do not realise the risks posed by such assets. The European Banking Authority is concerned about the sale of bank debt that could be bailed [...]
Shaftesbury reaps the benefits of a buoyant West End market May 19, 2014 WEST END landlord Shaftesbury enjoyed a 47 per cent jump in profits in the first half, buoyed by tourists and Londoners flocking to its restaurants and shops in the West End. The company, which owns 575 properties around Carnaby Street, Covent Garden, Chinatown, Soho and Charlotte Street, said pre-tax profits rose to £120.5m in the [...]
Game’s back in play with return to stock market May 19, 2014 VIDEO game retailer Game is to make a £400m return to the London stock market within the next month two years after it was suspended from trading and collapsed into administration. The chain is 99 per cent owned by US activist hedge fund Elliott Advisors and one per cent owned by Henry Jackson’s Opcapita, who [...]
Bundled debt back in vogue with first listed CLO fund since crisis May 19, 2014 THE FIRST UK listing of a collateralised loan obligation (CLO) fund since the financial crisis was announced yesterday, underscoring the ongoing revival of the once-maligned sector. Fair Oaks Income Fund, which is led by former executives at Apollo Global Management and GSO Capital Partners, said it hopes to raise $200m (£119m) by listing on London [...]