John Lewis sales stalled by strike and sunshine October 15, 2010 RETAILER John Lewis said sales growth slowed last week, as a strike on London Underground and a brief Indian summer meant fewer shoppers in its stores. The employee-owned company, traditionally seen as a bellwether of the UK retail sector but which has outperformed competitors for over a year, said on Friday sales at its 28 [...]
City’s small businesses are crying out for help October 14, 2010 IT IS a known fact that when recession strikes there is a lag between companies beginning to feel the pain and actually getting into real difficulties. This time around it is no different and, with just days to go until the Comprehensive Spending Review is unveiled, many UK businesses that are already struggling are hoping [...]
A good quality MBA should be all about broadening horizons October 13, 2010 TRADITIONALLY, an MBA has been a generalist qualification which teaches fresh skills and opens up avenues. But a new breed of focused MBAs has emerged in recent years. These concentrate on a specific area such as the energy industry, defence, financial services, the BRIC countries or even corporate and social responsibility (see box). They are [...]
BP venture to pay highest ever dividend October 12, 2010 TNK-BP HOLDING, the publicly traded part of BP’s joint venture in Russia, said yesterday it has recommended a record-high interim dividend of 124bn roubles (£2.6bn). Russia’s third-biggest oil company, which elected former BP chief executive Tony Hayward to its board last month, has recommended the payout in what several analysts said is a move to [...]
CITY MOVES | WHO’S SWITCHING JOBS October 11, 2010 Throgmorton The professional services group has hired Roger Looker, the former chair of Harlequins rugby club, as a non-executive director, and Adam Hewitson as its new internal legal counsel. Looker, pictured, previously founded two corporate finance boutiques, Gilbert Elliot Corporate Finance and Stafford Corporate Consulting, and chaired Harlequins for a decade between 1987 and 1997. [...]
The City is a vital component in UK prosperity October 10, 2010 Now that we have reached the end of the 2010 Party Conference season, it is perhaps time to take a step back and reflect on some of the rhetoric directed at the City in a calm, rational manner. The hostile political environment facing financial services is – to a degree – understandable given the public [...]
Why Gatwick Airport’s new chief has Heathrow lined up in his sights October 10, 2010 SOME people need to have a lot on their plates if they are to thrive – and Stewart Wingate, Gatwick’s newish boss, is clearly one of these. The 39-year-old took up his post last December when the airport was bought by US investment fund Global Infrastructure Partners (GIP) for £1.5bn from Ferrovial-owned airports operator BAA, which [...]
Saturated sat nav market hits sales October 7, 2010 EVERY driver seems to own a sat nav these days. Sitting in night-time traffic is like being at a festival with everyone holding their lighters in the air, each car emitting an unearthly glow from the dashboard. Their popularity accounts for the scorching growth rate of sat nav makers in recent years, but their ubiquity [...]
M&S success fails to stop a drop in the FTSE 100 index October 7, 2010 BRITAIN’S top share index closed lower yesterday, as weaker metals prices hurt mining stocks, while Marks & Spencer rose as investors warmed to a trading update from the retailer. The FTSE 100 closed 19.26 points, or 0.3 per cent, lower at 5,662.13, after rising 0.8 per cent on Wednesday to a five-month closing high. Mining [...]
CITY MOVES | WHO’S SWITCHING JOBS October 7, 2010 Jefferies The investment bank has hired Simon Hampton from Bank of America Merrill Lynch as its new European head of real estate, gaming and lodging investment banking. Hampton spent over 13 years at BoA Merrill Lynch, including eight as head of the real estate, gaming and lodging investment banking group for the EMEA region. Prior [...]