Demand for luxury goods aids Burberry October 14, 2009 Luxury fashion retailer Burberry yesterday smashed City forecasts as shoppers rushed to get this season’s latest handbags and accessories. Burberry reported revenue of £343m in the three months ended 30 September, down five per cent at constant currencies, but ahead of analyst forecasts of £320m to £335m. Chief financial officer Stacey Cartwright said the group [...]
There’s no need to be scared of US stocks October 12, 2009 GIVEN the global influence of American business, it would seem perhaps a little odd that we Brits feel we don’t know enough about the largest market in the world to invest in it. This was, essentially, the upshot of research published yesterday by the largest US discount broker Charles Schwab. Based on a survey of [...]
British Land executives to set up firm October 8, 2009 PROPERTY group British Land is set for a boardroom shake-up after it emerged that its star director Andrew Jones was quitting the group, taking two committee members with him to set up a rival firm. Jones, 40, had already confirmed he was considering leaving but his decision to bring on board colleagues Valentine Beresford and [...]
Carluccio’s dines out as new openings lift profits October 8, 2009 ITALIAN restaurant and retail group, Carluccio’s, yesterday said it expected to deliver full-year underlying pre-tax profits slightly ahead of its expectations as it experienced good trading in the period. For the 52 weeks ended 27 September, the company – headed by chief executive Simon Kossoff – said its revenue grew eight per cent. Carluccio’s, which [...]
Retail investors boost private client stockbrokers October 7, 2009 THE surge of retail investors rushing back to equities in recent months has become a flood since London’s benchmark FTSE 100 index broke through the psychologically important 5,000 mark on 9 September. This represents a massive opportunity for private client stockbrokers, many of which have seen a boost to both client numbers and to the [...]
The private equity boss who says credit is about to flow once again October 5, 2009 THE economic downturn has meant that private equity business Duke Street, like the rest of the industry, has spent the last 12 months treading water – and its managing partner Peter Taylor is keen the firm gets on with things over the coming year. Cutting deals is meat and drink to London’s private equity industry. [...]
WHAT THE OTHER PAPER SAY THIS MORNING October 4, 2009 FINANCIAL TIMESBERMUDA LOOKS TO BECOME HUB FOR CAT BONDSBermuda is making a push to become a leading centre for catastrophe bonds and other forms of specialist insurance investment by creating a special type of regulatory regime. Matthew Elderfield, chief executive of the Bermuda Monetary Authority, expects the next wave of capital that enters the insurance [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 1, 2009 FINANCIAL TIMESFORD SELLS AUSTRALIAN LOAN BOOK TO MACQUARIEFord, the US carmaker that underwent a debt-for-equity swap this year to bolster its balance sheet, has quit Australia’s retail car finance market after selling a A$1bn (US$874m) motor loan portfolio to Macquarie Group. The Australian investment bank is expanding its presence in the sector as well as [...]
FIRMS HIT BY TAX HIKE ON OFFICE SPACE October 1, 2009 CITY firms are bracing themselves for a crippling increase in business rates after new valuations for their premises were released yesterday. The tax hikes led to fury after it emerged that the majority of businesses will see increases of between 25 and 40 per cent. From April next year, the new business rates will be [...]
Bond says no to M&S role October 1, 2009 ASDA chief executive Andy Bond yesterday ruled himself out of the running for the top job at high street retailer Marks & Spencer (M&S). Bond said: “I am not interested. I am not going to M&S. End of story.” M&S has said it will appoint a new chief executive next year, with Sir Stuart Rose [...]