Standard gets 98.5 per cent rights backing November 7, 2010 STANDARD Chartered said investors representing 98.5 per cent of its shares signed up for its $5.3bn(£3.3bn) rights issue, which will boost the Asia-focused bank’s capital ahead of tougher global rules. Standard Chartered yesterday said it had received valid acceptances in respect of 256.7m shares offered to shareholders. Bookrunners will sell the shares not taken up, [...]
Growth in China on the cards at Boots November 7, 2010 HIGH STREET health and beauty retailer Boots hopes to make headway in China when its executive chairman travels to the country as part of David Cameron’s first official visit as Prime Minister. Stefano Pessina has reportedly organised talks with potential partners in Beijing and Shanghai while he is in the country, as part of a [...]
Luxury names sign for One Hyde Park November 7, 2010 OPULENT brands Rolex and Chanel are on the verge of signing a deal to take the final two shops at One Hyde Park, the £1bn London development by Nick and Christian Candy. British watchmaker Rolex is believed to have signed for the second retail space in the development, which is slated as London’s most expensive [...]
A bonanza of fresh, cheap funds for the retail investor November 3, 2010 HSBC is planning another series of emerging market exchange traded fund (ETF) launches as the price war in ETFs intensifies. Retail investor confidence in using funds tracking more exotic indices is growing and HSBC is cranking up its aggression with planned launches in the first half of 2011 tracking the MSCI India, MSCI Emerging Asia [...]
It’s grim up North for Apprentice fashionistas November 3, 2010 THERE are many sides to Lord Sugar. It isn’t all lounging in ermine and plugging his new autobiography – he’s also a dedicated follower of fashion. “London is one of the most fashionable cities in the world”, he informed his would-be Apprentices, quite a shock for those of us who assumed this devil wore M&S. [...]
Time to take inflation seriously again November 2, 2010 WHO said inflation is no longer a danger? Wherever one looks, prices are rising, demolishing the flimsy case made by the deflationistas. The British Retail Consortium/Nielsen shop price index out this morning confirms that the cost of living is continuing to go up, hitting ordinary folk and fuelling general negativity about the state of the [...]
The commercial property king who says the City is ready for take-off November 2, 2010 Land Securities’ chief executive leaps from behind his desk, bounding across his seventh floor office overlooking Trafalgar Square as he welcomes City A.M. – after years of stagnation, the country’s biggest property developer is on the move again – and it certainly seems to have put a spring in Francis Salway’s step. Last week, the FTSE [...]
MOSS DEBUTS FINAL TOPSHOP COLLECTION November 1, 2010 Supermodel Kate Moss celebrated the launch of her final seasonal collection for British retail chain Topshop (owned by Philip Green, left) last night with a party at its flagship London store at Oxford Circus. The final collection includes “Biba-esque” floral printed day dresses, shift dresses with cross stitch panels, a pair of midnight blue velvet [...]
Terry Smith launches new fund manager November 1, 2010 CITY veteran Terry Smith is today set to launch his new fund management venture Fundsmith, which aims to shatter preconceptions about the industry by offering investors low fees and a risk-adjusted long term strategic focus. Smith said he aims to capitalise on a “groundswell of opinion” against what he views as the “utterly unsupportable” industry [...]
M&S looks to Europe again October 31, 2010 MARKS & Spencer (M&S) is reportedly planning an ambitious return to continental Europe by buying back the stores it left almost ten years ago. The retailer is believed to be holding discussions with Spanish chain El Corte Ingles about taking back some of the nine stores it sold in 2001. M&S is also believed to [...]