Ross returns to the City as Cosalt chair November 30, 2009 DAVID Ross, the co-founder of British mobile phone retailer Carphone Warehouse, has returned to the City as chairman of marine safety group Cosalt, months after he stepped down from this post in the wake of a share disclosure row. In December last year Ross quit a series of high-profile roles when it emerged he had [...]
Borders administrators wield the axe on 36 staff November 30, 2009 BORDERS, the bookshop that has fallen into administration, yesterday made its first round of redundancies. Joint administrators Phil Duffy, Geoff Bouchier and David Whitehouse of MCR announced that a total of 36 employees based at the London head office of Borders have been made redundant. Duffy said that the redundancies did not impact the business [...]
Selfridges to make 100m November 29, 2009 Selfridges, the London luxury department store group, is today expected to unveil profits of £100m in its 100th year as the store is buoyed by a surge of wealthy overseas shoppers taking advantage of the weak pound. The retailer, which also has stores in Manchester and Birmingham’s Bullring centre and plans to open another in [...]
Number of shops lying empty drops as City take-up improves November 26, 2009 The number of shops lying empty in the UK’s prime retail areas has fallen for the first time this year according to property adviser Cushman & Wakefield. Central London has one of the lowest levels of availability as the capital retains its reputation as a shopping destination. But shops in the City have not fared [...]
CITY VIEWS: WHEN DO YOU THINK THE ECONOMY WILL COME OUT OF RECESSION? November 25, 2009 SIMON DUKE LLOYD’S OF LONDON“I expect that by the end of next year we will see signs that the recession has ended, particularly because we’ve already hit bottom. It will take time for new jobs to surface and previous jobs to return, but I think the recovery process is underway.” MARK STOOP BEAZLEY“I think the [...]
THE TIPSTER CHRISTMAS WILL BE KEY FOR TED BAKER November 22, 2009 DESIGNER retail brand Ted Baker indicated that business has been good in recent interims as consumers reacted positively to its current collections. It has seen an 18 per cent drop in profits this year, but sales were up 19.8 per cent from this time last year. Ray Kelvin, its CEO, expects it to weather the [...]
Tips for bagging yourself a new-build bargain in a difficult market November 19, 2009 POLLY COLDWELL, DEPUTY EDITOR OF FIRST TIME BUYER MAGAZINE:1) Ensure the property is big enough for your belongings. Check that there is somewhere to put your hoover, etc. Garages have shrunk as well: measure it to make sure your car fits. 2) New builds are rated for their energy, water and waste under the Code [...]
NEW BOSS NORMAN PREPARES TO BRING THE ROMANCE BACK TO ITV November 18, 2009 THE market has roundly welcomed ex-Asda boss and former Tory MP Archie Norman’s appointment to the chairman’s seat at ITV, but has anyone considered the most pressing question it throws up for the broadcaster? Allow me to explain. Back in Norman’s retail days, perhaps the most exciting new initiative at Asda was the introduction of [...]
Why bonds are a boon for investors November 18, 2009 FOLLOWING his appointment as the CEO of the London Stock Exchange (LSE) this summer, Xavier Rolet announced plans to open a retail bond market here in the UK. He said: “There is a clear need, particularly in the SME sector, for a lot of companies to be able to tap the bond market, particularly for [...]
Now there is a new way for traders to play forex markets November 18, 2009 WITH more than $3 trillion traded in the volatile foreign exchange markets every day, private investors have increasingly been angling for a slice of the action. And last week, exchange-traded funds (ETFs) provider ETF Securities launched a new way for individuals to gain exposure to the world’s most liquid market. The ETF-provider has launched Europe’s [...]