What you need to know before the open – 03/10 October 3, 2013 European markets are set to open mixed, with the FTSE slightly up. Things have calmed somewhat in Italy after Berlusconi climbed down, agreeing to support Enrico Letta. The dollar remains down as eyes are still on the US, with concessions failing to be forthcoming in budget talks and markets bracing for ongoing shutdown. ETX Capital [...]
Supermarkets in fuel pricing wars September 26, 2013 THE SUPERMARKET price war on petrol escalated yesterday, when some of Britain’s largest chains slashed costs for the second time in a matter of days and Sainsbury’s became the latest grocer to enter the fray. Asda said that it would cut unleaded petrol by 3p to 128.7p per litre and diesel by 2p to 135.7p [...]
Hammers and City progress September 24, 2013 STRIKER Ricardo Vaz Te headed an 88th-minute winner to send West Ham into the Capital One Cup fourth round after Cardiff had come from two goals down. Ravel Morrison and Matt Jarvis put the Hammers in control within eight minutes, before Craig Noone and Peter Odemwingie gave the visitors hope. Elsewhere, summer signing Stevan Jovetic [...]
Before the open: Markets remain muted by uncertainty from Fed and Germany September 24, 2013 Further Fed discussions on last week's news saw US markets close lower again yesterday for the third day. Overnight: #DOW lost 0.3% on Fed uncertainty and the political showdown on Fed budget nears. European markets also fell, Stoxx Europe -0.5% — belldirect (@belldirect) September 23, 2013 In the Eurozone, deliberations on a grand coalition continue [...]
Gleacher Shacklock revenues defy collapse of giant BAE deal September 23, 2013 CORPORATE finance advice group Gleacher Shacklock is set to report strong revenues growth for 2012, it emerged yesterday. The partnership ran into trouble late last year as the $18.4bn (£11.5bn) proposed merger of defence firms BAE System and EADS fell apart. Revenues at the advisory group edged up £66,000 to £15m, according to accounts seen [...]
Bottom Line: A global web player that is best of British September 19, 2013 ANYONE who said there was no space in the internet retail revolution for British business may have to start eating their words. On the heels of Ocado’s return to form thanks to a licensing deal with Morrisons comes this startling set of numbers from Asos. They confirm the online fashion retailer’s extraordinary achievement. In little [...]
City Moves for 20 September 2013 | Who’s switching jobs September 19, 2013 Brown Rudnick The law firm has announced the appointment of Sophie McGrath as a partner in its corporate team. McGrath joins from Morrison & Foerster, where she specialised in the venture capital and private equity sectors, and was responsible for advising on traditional exit strategies. Arbuthnot Latham The private bank has recruited Richard Kay as a [...]
Business of the year September 16, 2013 There’s been some really first-rate performances from some of the nation’s kargest and best known companies this year, making choosing a winner exceptionally hard. The most surprising entrant perhaps is Ocado, since many in the City had written the internet grocer off after its share listing. Thomas Cook is in there because in 2013 it [...]
Morrisons to cut new space as it focuses online September 12, 2013 WM MORRISON joined rivals yesterday in calling an end to the space race, as it prepares for its launch online next year and invests in its convenience M Local stores amid falling sales. Chief executive Dalton Philips announced plans to limit growth to 350,000 sq ft – about half of the average rate of the [...]
Analyst Views: What was your reaction to Morrisons’ half year update? September 12, 2013 KEITH BOWMAN | HARGREAVES LANSDOWN “Morrisons has moved to reposition its strategy in line with its major rivals. With the rollout of convenience stores ongoing and its push online now supported by Ocado, management now appear to view its armoury as complete, with group capital expenditure to be reduced. JONATHAN PRITCHARD | ORIEL SECURITIES “Morrisons’ [...]