Eurozone wrangling sucks life out of markets October 20, 2011 European markets saw confidence ebb away this morning as continuing wrangling over the Eurozone bailout fund took its toll. Optimism had been growing that the weekend meeting of European Union leaders in Brussels would come up with a substantial plan for dealing with the debt crisis, primarily through ramping up the bloc’s bailout mechanism, the [...]
Sports Direct profits up as it eyes 2012 boost October 20, 2011 SPORTS Direct, Britain’s biggest sporting goods retailer, said revenues rose in recent weeks and added it is looking to events such as next year’s London Olympics to keep sales rolling in 2012. The firm, controlled by Newcastle United owner Mike Ashley, said total sales rose 11.5 per cent for the nine weeks to 25 September [...]
CITY MOVES | WHO’S SWITCHING JOBS October 18, 2011 Cushman & Wakefield The global property consultant has appointed Michael Lindsay as a partner and head of its EMEA corporate finance team in London. Lindsay was formerly a partner and UK head of corporate finance at KPMG, and director in Citigroup’s real estate and lodging investment banking team. Signia Wealth Etienne de Merlis has been appointed [...]
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 [...]