Christmas will come early to the high street October 6, 2010 HIGH-STREET retailers have every reason to be cautious right now. If it isn’t the government squeezing households’ disposable incomes with one hand and hiking VAT with the other, then surges in the prices of commodities such as cotton, which is at a 15-year high, are threatening margins. Only last month Next chief executive Simon Wolfson [...]
PETTIGREW CALLS ALL ABOARD FOR STEAM RIDE October 5, 2010 IT was all aboard at Tower Pier last night as City bigwig Jim Pettigrew added an unusual venture to his impressive CV, which includes stints at Marks and Spencer, CMC Markets, Icap and, in his current role, Aberdeen Investment Managers. Pettigrew played host as fellow City figures arrived to experience his latest venture: the relaunch [...]
Restructuring cuts Northern Foods’ costs October 5, 2010 food manufacturer Northern Foods saw sales growth accelerate in its second-quarter and said it was changing the structure of its business to save money as it braces for a possible double-dip recession. “We don’t know whether there’s going to be a double-dip or not but we are planning for it and keeping a weather eye [...]
NatGrid hires finance boss from Cadbury October 4, 2010 National Grid said yesterday it had hired Andrew Bonfield, who was Cadbury’s chief financial officer during its takeover by Kraft, as new finance director at its energy transmission business. Bonfield will take over the post from current finance director Steve Lucas at the start of next month as Lucas prepares to retire. Lucas will leave [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 3, 2010 THE SUNDAYS The Sunday Telegraph EURO MAY NOT SURVIVE, CAUTIONS STIGLITZ One of the world’s leading economists has warned that the future of the euro is “looking bleak” and the fragile European economic recovery could be irreparably damaged by a “wave of austerity” sweeping the continent. Joseph Stiglitz, the former chief economist of the World [...]
Retailers go head to head with results October 3, 2010 SUPERMARKETS are set for a showdown this week as Tesco, J Sainsbury and Marks & Spencer post interim results. Smaller retailers Ted Baker, Halfords and Greggs are also due results, in a week that will indicate how the High Street has fared since the general election. Tesco is expected to post a 10 per cent [...]
HEDGIE IAN WACE TAKES CHAIRMAN JOB AT ARK October 3, 2010 THE GLAMOROUS world of hedge fund philanthropy had a shuffle at the top over the weekend, as Ian Wace – co-founder of Marshall Wace – took over from hedgie “godfather” Stanley Fink as chairman of Arki Busson’s charity, Absolute Return for Kids (ARK). Wace will now be tasked with the dual responsibilities of overseeing ARK’s [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 22, 2010 FINANCIAL TIMES SIEMENS PROMISES WORKERS JOBS FOR LIFE Siemens’ German workers have struck a deal that will see their jobs secured indefinitely, in an arresting move that highlights how the financial crisis has triggered a fresh consensus between labour and management in corporate Germany. The engineering group said it had sealed an agreement with its [...]
FTSE weighed down by banks and UK economic data, despite energy surge September 16, 2010 BRITAIN’S top shares closed lower yesterday, weighed by banks which slipped after recent strength, while retailers fell on downbeat UK economic data, countering gains in energy stocks. The FTSE 100 closed down 15.42 points or 0.3 per cent, at 5,540.14, having fallen 0.2 per cent in the previous session. That was its first daily decline [...]
Commodities drag FTSE 100 down as US output eases September 15, 2010 COMMODITY stocks pulled Britain’s top shares lower yesterday as US data showed a sharp slowdown in industrial output, and after investors switched into the dollar after The Bank of Japan’s yen intervention and recent sharp gains. The FTSE 100 index closed down 11.85 points, or 0.2 per cent at 5,555.56, snapping a five session winning [...]