Next’s share price jumps as it raises profit forecast after better than expected first half July 28, 2015 Next's share price jumped 1.4 per cent this morning, after raising its profit guidance for the full year following better than expected sales in the first half of this year. The high street chain is really showing Marks & Spencer how to do it. While its high street rival is struggling to get its [...]
From Sir Mike Rake, John Dixon and Martin Wheatley’s shock departures to Apple Pay: Here’s what got us talking this week July 17, 2015 There was some golf. There was cheese (with our burgers) in London. And throughout the country's railway stations, there was a quiz that got us scratching our heads. Here's what got us talking this week 1. The City was overrun with ejecting chairs Fresh from Antony Jenkins' sacking last week, this week it was the [...]
Marks & Spencer leading the FTSE losers: Why clothing boss John Dixon’s departure gives M&S two major headaches July 17, 2015 Marks & Spencer is leading the FTSE 100 losers this morning, after it confirmed its executive director of general merchandise John Dixon had quit. M&S' share price opened down, and has continued to tumble throughout early trading. At pixel time, itwas down 1.3 per cent. When Dixon took up the role in [...]
Marks & Spencer’s share price tumbles as head of general merchandise John Dixon quits July 17, 2015 Marks & Spencer's head of general merchandise John Dixon has quit the business after three years in the role, prompting the retailer's share price to tumble in early trading. Dixon "has decided to leave the business to pursue career opportunities outside of the company", the retailer said this morning. He will step down from [...]
Apple Pay in the UK: Like not laughing at a Michael Mcintyre gag, resistance is futile July 16, 2015 When Apple’s chief executive Tim Cook revealed its physical wallet-replacement service last September, I recall a tut and an eye roll at yet another Apple product announcement. A form of contactless payment, re-marketed as a physical wallet-replacement service, would be with us this summer. Where's the innovation in that? In many ways Apple [...]
Apple Pay: How does it work and is it any quicker? A guide for the new contactless payment system July 15, 2015 Apple Pay has finally arrived in the UK. Well, sort of. If you have the right iPhone and the right bank and you shop in the right place and if the sun is shining at just the right angle – then you can use Apple Pay (okay, we made the bit about the sun up). [...]
5 the war on cash July 15, 2015 Transport With apps like Uber, cashless buses and contactless payments on the Tube, public transport is practically a note-free zone already. The London Underground has had NFC technology since the introduction of the Oyster card, which means it’s Apple Pay ready. Retail Many high street retailers have jumped onto the contactless bandwagon in recent years, [...]
Best of the Brokers for 15 July 2015 July 14, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com MARKS & SPENCER Espirito Santo said the autumn/winter range should be the “clearest indication yet” on whether progress has been made, the unknown factor being how much gross margin general merchandise can make. It has upped its full-year profit forecast by one per [...]
Apple Pay launches in the UK: Where to use it, how to use it, which iPhone you need and how it works July 14, 2015 If you're the proud owner of an iPhone 6, 6 Plus or Apple Watch you can now spend your cash with little more than the flick of a wrist. Apple Pay has today launched in the UK, allowing people to use near field communication on their iPhones to tap and pay for items worth [...]
City Moves for 13 July 2015 | Who’s switching jobs July 12, 2015 New Quadrant Partners The private client law firm has appointed Helen McGhee as a senior associate. She joins from Squire Patton Boggs. McGhee was recently named rising star at the LexisNexis Taxation Awards, and advises on all aspects of tax affairs. BMO Global Asset Management The investment management firm has announced the appointment of David [...]