Fears over consumer climate send retailers and FTSE down November 3, 2010 BRITAIN’S top share index closed lower yesterday, with retailers weak as Next posted falling sales, while banks gained ground after Lloyds Banking Group poached Santander UK’s head as its new CEO. Investors were reluctant to take big positions ahead of a Federal Reserve decision on further monetary policy easing later yesterday. Markets are pricing in [...]
BOBSLEIGH FANATIC TO INJECT CITY WITH SHOT OF ADRENALINE November 2, 2010 YEARNING for an unusual extra-curricular hobby to brighten up your working week? Addicted to adrenaline? The Capitalist might have chanced upon just the thing for more adventurous City types. Ian Barbour is best known for his position as director of financial printing group Millnet, where he runs the financial document services operations. Yet he’s just [...]
Commodities and banks lift FTSE but gains are tempered by Fed QE decision November 1, 2010 Miners led Britain’s top shares higher yesterday, boosted by strong data from China, but gains were tempered as investors looked ahead to the outcome of the US Federal Reserve’s meeting tomorrow. Miners rose after data showing demand in China, the world’s biggest consumer of metals, was holding up. The world’s biggest integrated zinc producer Xstrata [...]
M&S looks to Europe again October 31, 2010 MARKS & Spencer (M&S) is reportedly planning an ambitious return to continental Europe by buying back the stores it left almost ten years ago. The retailer is believed to be holding discussions with Spanish chain El Corte Ingles about taking back some of the nine stores it sold in 2001. M&S is also believed to [...]
Stuart Rose cheers One New Change October 28, 2010 CITY shopping centre One New Change attracted thousands of workers from across the Square Mile when it opened for trading yesterday. Outgoing Marks & Spencer chairman Sir Stuart Rose officially opened the mall, which is home to 60 shops and restaurants on Cheapside opposite St Paul’s Cathedral. Topshop owner Sir Philip Green and representatives of [...]
Rose: Shoppers can cope October 25, 2010 Stuart Rose, chairman of bellwether British retailer Marks & Spencer, said consumers can cope with government spending cuts and retail sales will grow next year, even though trading will be tough. “I believe that consumers want clarity and what the chancellor did last week was give consumers absolute clarity about what to expect,” Rose said [...]
All change for Square Mile shopaholics October 24, 2010 SHOPPING centre One New Change opens its doors to customers on Thursday, though up to 30 per cent of the shops will not be ready for the launch. Several people close to the development have said between 70 and 90 per cent of retailers will open on Thursday, with the rest aiming to complete their [...]
CITY INSURANCE BROKERS TAKE TO THE RING AT EAST END FIGHT NIGHT October 21, 2010 PERHAPS it’s a sign of the times, but white collar boxing – City boys (and sometimes girls) swapping their suits for silk shorts and beating the living daylights out of each other – is becoming ever more popular among financial sector workers. With that in mind, it’s perhaps not so surprising that a sweating, heaving [...]
Uniq’s unique escape trick October 20, 2010 Convenience food maker Uniq has devised a unique way of resolving its crippling pension deficit – by effectively selling itself to its pension trustees. The firm, which supplies sandwiches to Marks & Spencer, is waiting on regulatory clearance to finalise a deficit for equity swap that will sign over 90 per cent of the firm [...]
RBC makes £963m offer for Bluebay October 18, 2010 BLUEBAY Asset Management has accepted a takeover offer from Royal Bank of Canada (RBC), it said yesterday, in a deal which values the fixed income investment firm at £963m ($1.5bn). Bluebay shareholders, if they agree to the deal, will receive 485p per share representing a premium of 29.1 per cent on the fund manager’s closing [...]