London’s new power couple March 4, 2010 THE day I meet Carolina Herrera and her business partner and daughter, also called Carolina Herrera, I am foolishly wearing trainers. It is the wrong choice. Not because they are in any way snooty, but because I forgot when getting dressed this morning that I am meeting two of the most elegant women alive today. [...]
Mandelson slams Volcker March 3, 2010 BUSINESS secretary Lord Mandelson yesterday dismissed US President Barack Obama’s plan to separate retail banking from riskier trading as “too difficult” to implement. Suggesting a Labour government would not follow Obama’s so-called Volcker rule, Mandelson called for global coordination on regulation. He said: “Trying to apply sweeping rules about the structure, content and range of [...]
Hiscox profits surge as storm claims fall March 1, 2010 HISCOX yesterday reported a surge in pre-tax profits after the insurance group saw its figures sky rocket to £320.6m, quadrupling last year’s outcome. The Bermuda based insurer said profits climbed after the company made a series of investments during the year. The diminished number of global catastrophes also affected its figures. “Our catastrophe reinsurance underwriting [...]
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 [...]