Retail investors step in where others fear to tread July 16, 2012 With UK institutional shareholders effectively closing the door on supporting money-raising for anything that has the smell of risk about it, like an IPO or new issue for instance, some companies and their financial advisers have been scurrying around to find new methods of raising capital. One such instrument that has been gaining currency in [...]
Trading hurdles at this summer’s Games July 16, 2012 LOOKING ahead to the start of the Olympic Games, there is no end of attempts to make tie-ins – official or not – with the festival of sport. But who are going to be the real winners and losers in business this summer? Much was made of the effects of the Jubilee celebrations on high [...]
The whole City must work to rebuild the trust destroyed by a rotten few July 15, 2012 AFTER weeks of problems in the banking sector making front pages, it’s time we start taking steps to move business back to where it belongs: the business sections of our papers (though that would, of course, be hard in the case of this newspaper). Reputation matters and it’s the driving force behind any good business. [...]
Ashmore share price down as equity shrinks July 12, 2012 SHARES in funds house Ashmore tumbled 6.7 per cent yesterday after it said it has lost about a fifth of the money it manages in equities during the last quarter. The London-based manager, which focuses on investments in emerging markets, reported a 20.5 per cent drop in equities to $6.2bn (£4bn) in the three months [...]
Big companies shy away from London floats July 12, 2012 LONDON’S Alternative Investment Market (Aim) was the venue for the vast majority of UK initial public offerings in the last three months while the main market remained in the doldrums, according to figures from Ernst & Young out yesterday. Aim hosted 11 listings in the second quarter, compared to just one IPO on the London [...]
Suntory time in the world’s second-biggest ad market July 12, 2012 ADDICTS of HBO’s Mad Men and fans of Lost in Translation may not find Tokyo an obvious home for an advertising group with global ambitions. But that’s not what the numbers say. Japan is the second largest advertising marketplace in the world. The heirs of Madison Avenue still keep the United States a long way [...]
Primark keeps AB Foods on track July 12, 2012 Associated British Foods confirmed that it is on track for substantial growth in full-year adjusted operating profit and adjusted earnings per share after a strong performance from its discount fashion chain Primark boosted year-to-date revenues. The London-based food and retailing group said that revenues rose 11 percent in the 40 weeks to 23 June, or [...]
ICAP reassures over impact of Libor scandal July 11, 2012 INTERDEALER broker ICAP will bring its cost-cutting programme forward in a bid to shore up its profits, the firm said yesterday. In an attempt to placate shareholders ICAP said it will aim to cut £50m of annual costs by March 2013, rather than March 2014 as previously announced. Around a hundred staff have already left [...]
Growth slowing at Burberry July 11, 2012 SHARES IN BURBERRY fell more than seven per cent yesterday after the luxury fashion group blamed a tougher economic environment and a shift in US wholesale distribution for a slowdown in first quarter sales. The 156-year-old British brand, best known for its signature check designs, said revenue rose 11 per cent to £408m in the [...]
Thorntons treated to rise in quarterly sales July 11, 2012 THORNTONS reported a rise in fourth quarter sales yesterday as it cashed in on demand for all-things British with its “Best of British” range of London bus and Union Jack-themed chocolates. The confectionary retailer, which is cutting 180 stores to save costs, said total sales for the three months to the end of June were [...]