Landlords hit as retailers shut up shop May 18, 2011 LANDLORDS are being squeezed as struggling retailers abandon high streets which are losing out in the battle against malls, according to property experts. As cash-strapped consumers rein in their spending the face of the UK’s high streets are changing with major chains closing hundreds of stores. As much as 14.5 per cent of the UK’s [...]
Unions are right: United we stand, divided we fall May 18, 2011 TRADE unions might have adopted it as their rallying cry, but that doesn’t mean it is untrue. Indeed, it is applicable to much of life: united we stand, and divided we fall. It is the principle that underpins unions and countries and coalition governments, and failure to appreciate it drove swathes of the globe into [...]
Commodities rock FTSE as hits lowest level since April May 17, 2011 BRITAIN’S leading share index was driven down by weakness in commodity issues and banks on concerns over global growth which countered results-driven gains by market heavyweight Vodafone. At yesterday’s close, the FTSE 100 index was off 62.69 points, or 1.1 per cent, at 5,861.00, extending its losing streak to a fifth session. It ended below [...]
Sterling’s outlook waiting on rates May 17, 2011 IG INDEX DAVID JONES Tuesday saw the usual flurry in forex markets when the latest UK inflation figures were released, showing annual CPI at a larger than widely expected 4.5 per cent. The pound rallied half a cent against the US dollar in very short order and then over the course of the next few [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 16, 2011 FINANCIAL TIMES WEST COAST RAIL FACES RETURN TO STATE HANDS Britain’s most profitable train franchise could be taken back into state hands following a government decision to delay the auction of the West Coast service amid an overhaul of the rail system. Virgin Trains is due to hand back the contract to run the lucrative [...]
Kazakhmys plans Hong Kong listing May 16, 2011 KAZAKHMYS, the world’s 10th largest copper miner, said yesterday it plans to complete a secondary listing in Hong Kong by the end of June, a move that will boost its presence in China – the world’s biggest copper importer. The company said it has filed a prospectus with the Hong Kong Stock Exchange, and added [...]
London shops get wedding fever boost May 15, 2011 TRADING at London’s West End shops during April outperformed both last year’s figures and the rest of the country, as the extended bank holidays and Royal Wedding celebrations boosted footfall at the capital’s retailers. Sales at 600 stores on Oxford Street, Regent Street and Bond Street rose 7.6 per cent year on year, according to [...]
Glencore to close book on £6bn float early May 13, 2011 Commodities trader Glencore will close the books for its planned $11bn (£6bn) initial public offering a day ahead of schedule, underscoring strong investor demand for its shares despite volatile commodity markets. According to details in a term sheet seen by Thomson Reuters IFR and confirmed by sources close to the deal, subscriptions to the IPO [...]
Gulliver’s off to quiet start at HSBC May 11, 2011 IN the ever changing world of banking, it was the turn of HSBC’s new chief executive Stuart Gulliver yesterday to inform investors of his bank’s strategy for the future. In recent weeks, both Bob Diamond of Barclays and António Horta-Osório of Lloyds Banking Group, have had a turn at imposing their personalities at their new [...]
Tesco names City grandee as new chair May 11, 2011 TESCO yesterday announced that Sir Richard Broadbent will become its next chairman. Sir Richard (pictured), who is deputy chairman at Barclays, will join Tesco as a non-executive director in July. He will take over the reins from Tesco chairman David Reid, who retires in November. The City grandee was tipped to take over at insurer [...]