Rosy services data boosts UK prospects November 4, 2009 STRONG growth in Britain’s services sector added to the more upbeat mood prevailing in the UK yesterday, ahead of the Bank of England’s monetary policy decision. The CIPS/Markit services purchasing managers’ index (PMI) yesterday showed the headline business activity index surge to 56.9 in October above 55.3 in September and beating the consensus forecast of [...]
SIR STUART UNVEILS A CELEBRITY CRUSH AND A HOT ‘N’ SPICY FETISH November 4, 2009 SIR Stuart Rose was on fire yesterday as he churned out Marks & Spencer’s (M&S) half-year figures in his customary staccato tones, pausing only to dwell upon his favourite subjects. The presentation, you see, included the unveiling of the retailer’s latest Christmas advertising campaign, which will this year feature regulars singer Myleene Klass and model [...]
M&S beats forecasts as it says no to discounting November 4, 2009 MARKS & SPENCER (M&S) yesterday said that there would be no blanket promotions that dominated the high street last year in the run up to the Christmas period, after its half year sales beat City forecasts. Executive chairman Sir Stuart Rose yesterday said that this year included very different circumstances. He said: “Last year people [...]
THE LONDON REPORT November 4, 2009 LONDON’S leading shares ended 1.4 per cent higher yesterday, boosted by a rebound from miners and banks, with retailers Next and Marks & Spencer also higher after posting forecast-beating figures. At the close, the FTSE 100 was up 70.68 points at 5,107.89, recouping all of Tuesday’s losses when the index fell 1.3 per cent to [...]
Walker lambasts old boys culture November 3, 2009 THE City grandee leading a review of financial regulation aimed at preventing another financial crisis has attacked an “old boys” culture in City boardrooms and backed calls for M&S to overhaul its controversial leadership structure. Former investment banker Sir David Walker said companies needed to change the way their boards were run to ensure chairmen [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 3, 2009 FINANCIAL TIMES INDIA SOLD ON GOLDGold surged to an all-time high after India bought 200 tonnes of the precious metal, swapping dollars for bullion as the finance minister warned the economies of the US and Europe had ‘collapsed’. India’s decision to exchange $6.7bn for gold equivalent to eight per cent of world annual mine production [...]
HENDERSON GROUP TO RID ITSELF OF ITS FALLEN NEW STAR’S LEGACY November 2, 2009 AS FUND management veteran John Duffield gets busy with his new venture, Brompton Asset Management over in Knightsbridge, having completed FSA registration for the name last week, it looks like those lording it over his old employees are preparing to eradicate his legacy for good. Duffield’s second venture, New Star, was taken over by asset [...]
Business leaders urge political party heads to balance the budget by 2015 November 1, 2009 LEADERS of the three main political parties will face calls for urgent action to balance the national books at the annual conference of the Confederation of British Industry (CBI) later this month. The business lobby group will urge Conservative leader David Cameron, Liberal Democrat leader Nick Clegg and an as-yet unidentified “senior member of the [...]
The tributes pour in as City A.M. gets to 1,000 October 22, 2009 GORDON BROWNPrime Minister“Congratulations to City A.M. on reaching a thousand editions. Your paper has kept both Westminster and the City informed at a time of great turbulence in the world economy.” SIR VICTOR BLANKFormer chairman, Lloyds Banking“City A.M. has developed into a quality newspaper which sparks boardroom debate with its insight and analysis. It is [...]
City Moves for 23 October 2009 | Who’s switching jobs October 22, 2009 Grosvenor Fund ManagementThe fund management firm has hired Dominic Field as director of business development, responsible for advising on and supporting new business initiatives and investor relations. Field was previously director of the real estate private fund group at Credit Suisse, where he worked on over 30 fund raisings across Europe, the US and Asia. [...]