WHAT THE OTHER PAPERS SAY THIS MORNING October 17, 2011 FINANCIAL TIMES THEFT, FRAUD AND ERROR TAKE £4.9BN TOLL ON SHOPS Shoplifting, employee theft and error have cost UK retailers an estimated £4.9bn in the past year, the highest figure ever recorded, as worsening economic conditions fuel rising levels of crime in the retail sector. In the year to June 30, losses relating to theft, [...]
G4S shares plunge after £5.2bn offer October 17, 2011 INVESTORS took fright yesterday after security firm G4S revealed plans to buy ISS from its private equity owners in a £5.2bn deal. Shares in G4S plunged more than a fifth after it said it would pay £1.53bn in an even split of cash and shares for the Danish facilities management group. It will raise £2bn [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 13, 2011 FINANCIAL TIMES INSURERS BLAME APPLE AS LEVEL OF FRAUDULENT CLAIMS RISES The readiness of Apple to replace blocked or faulty iPhones with new smartphones is helping to fuel a big rise in fraud, insurers warn. Specialist mobile phone insurers say fraudulent claims have risen sharply amid the recession, especially related to smartphones. They estimate between [...]
CITY MOVES | WHO’S SWITCHING JOBS October 13, 2011 Maxifier The online ad campaign performance specialist has appointed Helen-Clifford Jones as head of UK and vice president of sales in EMEA. She will be responsible for leading the expansion of the UK and the move into EMEA. Jones has ten-years of experience in the digital media, publishing and advertising industries. Prior to joining Maxifier, [...]
Demand for Burberry is still booming October 12, 2011 LUXURY goods group Burberry batted away fears of an economic slowdown in its key Chinese market yesterday as it unveiled forecast-beating results. Revenues for the three months to September hit £463m – above a forecast for £448m by a poll of analysts. Luxury goods stocks have fallen sharply in recent weeks on signs of an [...]
AN AWKWARD MOMENT AS BANK CHIEFS RETURN TO PARLIAMENT October 11, 2011 BRITAIN’S bank chiefs were lucky enough to be called before another parliamentary committee today, following several outings already this year. Seated in the stuffy House of Lords hearing room, banking maestros were put through their paces on topics ranging from capital buffers to some “curious nexuses” that HSBC chair Douglas Flint wanted to discuss. Is [...]
N Brown sees profits lift as it thinks big October 11, 2011 HOME shopping clothes retailer N Brown yesterday reported a half year profits rise as its investment in brands for larger men and women paid off. In the half-year to August, sales were up four per cent to £364m, with profits surging six per cent to £45m. The Manchester-based company lifted its dividend five per cent [...]
FTSE breaks winning streak on worries over Euro bailout October 11, 2011 THE FTSE 100 share index snapped a four-day winning streak yesterday, as worries over Europe’s debt problems and the impact on the global economic recovery prompted investors to bank some of the recent gains made in commodity and financial stocks. The index closed down 3.3 points, or 0.1 per cent at 5,395.70, but recovered from [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 10, 2011 FINANCIAL TIMES TOUGH CARE HOME REGULATIONS PROPOSED The government is considering a series of tough regulations for residential care homes following the collapse this year of Southern Cross, the UK’s biggest home operator. The measures, outlined yesterday for consultation, include requiring companies to post capital upfront as a condition of their licence, and giving councils [...]
Shopping channel QVC unveils first high street shop as turnover shines October 10, 2011 QVC, one of the world’s biggest shopping channels, will launch its first pop-up shop on the British high street today. The temporary Diamonique store – selling QVC’s own range of imitation diamonds – is opening in Hatton Garden today with prices ranging from £21 to £743. The new retail offering comes as the company announced [...]