House prices on the rise in London boost March 1, 2010 CENTRAL London house prices jumped by 3.2 per cent in February – the strongest surge in almost three years, according to figures released yesterday. Average house prices in central London have risen by almost a fifth in the last 10 months, and are only one per cent below the market peak of March 2008, according [...]
BURBERRY BUCKS THE WINTER BLUES February 24, 2010 BURBERRY Group chief executive officer Angela Ahrendts yesterday said demand for the retailer’s luxury items was still strong and showing “no signs of slowing down” in Hong Kong and the UK. Speaking at the retailer’s autumn/spring fashion show during London Fashion Week, she gave an upbeat analysis of the group’s performance.
AstraZeneca agrees to pay £500m in HMRC settlement February 23, 2010 ASTRAZENECA has paid Her Majesty’s Revenue and Customs (HMRC) £505m to settle a tax dispute. The Anglo-Swedish drugs company owes the government over so-called transfer pricing – the price at which a group sells goods or services from one section to another. Astra will pay £350m next month and a second installment of £155m in [...]
JP Morgan analyst in hot water after Asda meeting February 22, 2010 A JP Morgan analyst has been suspended after allegedly gate-crashing a private Asda supplier meeting. Rickin Thakrar, in his mid-20s, wrote an explosive research note, revealing management thought stores had become “boring”, despite being explicitly banned from attending the event. He gleaned private information about the firm’s plans just days before it released its results. [...]
Strong sales at Primark boost profits for AB Food February 22, 2010 STRONG sales at cut price clothing retailer Primark have helped fuel a “substantial rise in profits” for parent company Associated British Food. The London-based group yesterday said in a trading update it expected a jump in half-year earnings and a strong full year. Its 196-strong discount chain Primark saw an eight per cent rise in [...]
Primark fuels sales growth at Associated British Food February 22, 2010 PRIMARK growth has helped to fuel a predicted “substantial rise in profits” at parent company Associated British Food. The London-based group said in a trading update it expected a jump in half-year earnings and a strong full year. Its 196-strong discount chain Primark saw an 8 per cent rise in sales – with stores in [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 22, 2010 THE SUNDAYS THE SUNDAY TELEGRAPH TORIES’ ENERGY PAPER MONTHS LATE The Conservatives’ flagship energy paper may not appear until April – six months after its original planned publication – leading to industry fears of policy disagreements in the run-up to the election. One senior figure who has seen a draft of the paper said that [...]
Optimism returns as flood of firms set for London flotations February 18, 2010 GOLD mining giant Barrick Gold yesterday led a spirited charge by companies back into the London initial public offering (IPO) markets, after quavering demand from investors sank prospects for three new flotations in the space of just over a week. Barrick announced plans to spin off its African assets into a new company, African Barrick [...]
WESTFIELD PULLING IN THE CROWDS February 17, 2010 SALES at Westfield shopping centre were up 11 per cent last month, it was revealed yesterday, lifting some of the gloom that has dogged the wider retail market. The mall in West London’s Shepherd’s Bush also saw spending in the run-up to to crucial Christmas trading period soar 18 per cent compared with the equivalent [...]
British stocks hold their shine in spite of gloom February 17, 2010 UNEMPLOYMENT is high, the economy is barely out of recession and the UK’s fiscal deficit is cause for concern. Compared to emerging markets where growth is storming ahead, it seems like a no-brainer as to where to invest. Barclays Stockbrokers’ clients agree – half think emerging markets will deliver the greatest returns in 2010 while [...]