Markets in turmoil over taper fears August 15, 2013 ■ Mixed US data leads to new fears over when Fed will start tapering stimulus ■ Dollar dives from one week high as uncertainty stalks trading desks ■ FTSE 100 suffers worst day in almost two months after retail sales rise GLOBAL markets were sent reeling yesterday, as strong US economic data reignited [...]
Retail sales jump to £7bn per week as UK recovers August 15, 2013 BRITISH retail sales grew at the fastest pace since 2011 in the year to July, official figures showed yesterday, giving further hope that consumer confidence is on the mend. Shoppers spent £7bn in an average week in July, pushing up sales volumes by three per cent on the year, driven by food sales and [...]
Thomson Local bought out of administration August 15, 2013 DIRECTORY services brand Thomson Local was bought out of administration by two serial entrepreneurs yesterday. Thomson Local, which sends out 22m copies of its UK business directory and maintains several websites, appointed Grant Thornton as administrator on Wednesday, following several tough years. The Hampshire-based firm posted a net loss of £732,000 for 2011, [...]
UK needs to stop deliberately inflating residential land prices August 14, 2013 MY column yesterday revealing that the French are building three times more homes than the British every year – an astonishing fact which highlights the gravity of our housing supply crisis – elicited a number of typical counter-arguments. The most common was that the French have plenty of land, and we don’t, so it isn’t [...]
Countrywide shares tumble as investors cash in £200m shares August 14, 2013 COUNTRYWIDE’S private equity backers Oaktree and Apollo sold £200m worth of shares in the estate agents yesterday, cashing in on the revival in the UK housing sector. The group saw shares fall 4.5 per cent last night following the share placing, which saw Oaktree and Apollo whittle down their shareholding in the company by [...]
John Lewis is set to create a new restaurant August 14, 2013 JOHN Lewis is poised to launch a new restaurant concept in a move to diversify its catering range and attract more customers into its department stores. Chief executive Andy Street said while John Lewis’ restaurants and cafeterias were profitable and provided good quality, “middle of the road” food, they were not “cutting edge” brands. “There [...]
What the other papers say this morning – 14 August 2013 August 13, 2013 FINANCIAL TIMES EU pushes single market in telecoms Brussels’ top competition authority has called for 28 national telecoms regulators to be replaced by a single pan-European watchdog. The report from commissioner Joaquin Almunia criticises EU telecoms chief Neelie Kroes for lacking ambition in her plan to create a single telecoms market. Kroes hopes her proposals [...]
Sales blooming at Cath Kidston August 12, 2013 CATH KIDSTON, the quirky British retailer known for its brightly coloured floral prints, said yesterday sales topped £100m for the first time last year thanks to strong demand in the UK and overseas. The homewares and accessories chain, founded by the eponymous designer 20 years ago, said it now has more stores overseas than in [...]
Any Other Business – 12/08 August 11, 2013 ■ If you’ve ever fancied your own private jet, now would be the perfect time to buy. According to business aircraft manufacturer Beechcraft, 20.8 per cent of the light and midsized private jet market in the UK is currently up for sale, with 19 per cent on the market across Europe. Anything over 10 per [...]
John Lewis is set to create a new restaurant August 11, 2013 JOHN Lewis is poised to launch a new restaurant concept in a move to diversify its catering range and attract more customers into its department stores. Chief executive Andy Street said while John Lewis’ restaurants and cafeterias were profitable and provided good quality, “middle of the road” food, they were not “cutting edge” brands. [...]