Dixons pares losses after restructuring November 25, 2010 ELECTRONICS retailer Dixons narrowed its first half-losses, it said yesterday, after closing smaller stores and replacing them with so-called “big box” units. The company reported a £7.9m loss in the six months to 30 September, less than the £17.6m loss it made in the same period last year. Sales growth was more muted in the [...]
John Laing Infrastructure Fund IPO raises £270m November 24, 2010 INFRASTRUCTURE group John Laing has hit its target of raising £270m from the London listing of a fund today. The John Laing Infrastructure Fund (JLIF) will use the proceeds to acquire a seed portfolio of 19 investments from the John Laing Group, which is owned by asset manager Henderson Group. The seed portfolio, which includes [...]
West End shops go traffic-free this weekend November 23, 2010 REGENT Street and Oxford Street will be vehicle-free between 10am and 6pm this Saturday, allowing millions of Londoners to indulge in Christmas shopping on foot. Stores are offering up to 50 per cent off and opening as early as 8am, as they compete for the attention of an anticipated two million shoppers. By VIP Day [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 22, 2010 FINANCIAL TIMES GENEVA SET TO TRUMP LONDON IN OIL TRADING Geneva will leave London behind and become the world’s most important trading hub for physical energy commodities, including oil, as leading companies relocate dozens of traders to Switzerland, according to industry executives. The transfers threaten the UK capital’s leadership in physical crude and oil products [...]
The ex-investment banker who is shaking up the retail trading world November 22, 2010 ROBIN OSMOND does not come across as somebody intent on disrupting the status quo. But this is exactly what the softly spoken and quietly animated LMAX chief executive has in his sights with the launch of the firm’s new retail trading venue. The exchange, which currently offers contracts for difference (CFD) and rolling spot FX, [...]
CITY MOVES | WHO’S SWITCHING JOBS November 22, 2010 Matrix Group Matrix, the financial services firm, has announced the appointment of a new chief operating officer for asset management: Paul Bramley. Bramley has worked in financial services for more than 20 years, including occupying previous COO and chief financial officer roles. He is also a qualified chartered accountant and has worked at NatWest Markets, [...]
Westfield sells half stake in Stratford City retailing November 22, 2010 AUSTRALIAN shopping-mall owner Westfield Group is selling a stake in its Stratford City development in London to Dutch and Canadian pension funds for £871.5m, Westfield has revealed. The company said it had agreed to sell a 50 per cent stake in the retail component of the development, which is being built next to the site [...]
CITY MOVES | WHO’S SWITCHING JOBS November 22, 2010 Huntsworth Group Global PR firm Huntsworth has added Colin Adams to its board as group finance director, replacing Tymon Broadhead. He has a background in media and joins from Bloomsbury Publishing, where has had been finance director since 1994. He also has three years’ experience on the investment committee of the creative capital fund. He [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 17, 2010 FINANCIAL TIMES AGARWAL’S PROJECT QUASHED Anil Agarwal, the Indian billionaire who controls Vedanta, the UK-listed mining group, has suffered a setback to his philanthropic ambitions, hard on the heels of legal problems this year involving some of the group’s Indian operations. Mr Agarwal’s plans to build a $3.3bn (£2.1bn) university in a coastal area of [...]
Northern and Greencore agree merger November 17, 2010 FOOD retailers Greencore and Northern Foods revealed plans to merge yesterday, in a deal that will produce one of the biggest chilled food players in the UK. The firms, responsible for Goodfella’s pizzas, Fox’s biscuits and the Weight Watchers range, will be rebranded Essenta once the proposed tie-up is complete in March 2011. Management said [...]