Burberry on expansion trail April 19, 2011 FASHION company Burberry said yesterday it would expand its store space by ten per cent after it produced another set of stellar results. Its revenues soared by 32 per cent in the three months to March and Burberry said profit for the full-year would be at the top end of expectations. Burberry has been boosted [...]
FTSE shares rebound but debt worries still dog bank stocks April 19, 2011 STRENGTH in oversold commodity issues fuelled a modest rally by Britain’s top share index yesterday, while sovereign debt worries continued to dog banking stocks. At the close, the FTSE 100 index was up 26.79 points, or 0.5 per cent at 5,896.87, having dropped 2 per cent on Monday to hit its lowest level since March [...]
John Nelson named new Lloyd’s chairman April 18, 2011 Lloyd’s of London has named John Nelson, a long-time City financier and chairman of real estate developer Hammerson, as its incoming chairman to replace Lord Levene. Nelson, a chartered accountant and corporate financier with Kleinwort Benson and Lazard, was chairman of Credit Suisse First Boston Europe from 1999 to 2002. He has since moved to [...]
Burberry boss plots growth for London April 17, 2011 LUXURY retailer Burberry plans to expand “aggressively” in London, in a bid to improve on what are set to be strong half-year trading figures out tomorrow. Burberry, expected to report on-track underlying sales knocked slightly by a fall in revenues from disaster-hit Japan, is set to ramp up its existing growth plans for London in [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 14, 2011 FINANCIAL TIMES BOSCH WARNS JAPAN CRISIS WILL SLOW GLOBAL GROWTH The impact of last month’s Japanese earthquake will cut global economic growth by a quarter of a percentage point and could put a big dent in planed increase in car production this year, the head of the world’s largest car parts supplier warned. Franz Fehrenbach, [...]
Euroset float cancelled as buyers dither April 14, 2011 THE already shaky climate in the London new issues market worsened yesterday as the Russian mobile phone retailer Euroset pulled its £800m issue. While the deal was overshadowed by Glencore’s announcement, Euroset’s flotation is the latest smaller planned initial public offering (IPO) to have been dogged by uncertainty because of nervousness in the markets. Investors [...]
FTSE falls with investors still cautious ahead of US results April 14, 2011 BRITAIN’S top share index fell yesterday, led by Reckitt Benckiser after the company said its chief executive was retiring, and with banks weaker on renewed worries about sovereign debt levels. The FTSE 100 fell 46.64 points, or 0.8 per cent, to 5,963.80, its lowest close since 31 March. The index is up 1.1 per cent [...]
Euroset confirms pulling its £800m IPO April 14, 2011 The already shaky climate in the UK’s new issues market worsened today as Russian mobile phone retailer Euroset pulled its £800m issue. The flotation has been dogged by uncertainty because of nervousness in the markets, with investors increasingly unwilling to pay up for what they deem to be overvalued stock. City A.M. broke the news [...]
Euroset float hits a bout of nervousness April 13, 2011 NERVOUSNESS in London’s IPO market spread yesterday as it emerged that the Russian mobile phone retailer Euroset was considering scaling back its flotation plans. The group originally aimed to raise up to $1.3bn (£799m) from investors through a combination of new shares and stock sold principally by Russian billionaire Alexander Mamut, who owns 50.1 per [...]
Real estate market picks up April 13, 2011 Property investors are looking to riskier markets such as Spain and emerging Europe, and shunning safer prime European commercial real estate, pushing up investment volumes and prices, research by CB Richard Ellis has shown. Direct investment in prime European commercial property hit €26.7bn in the first-quarter, up 26 per cent on the year. In the [...]