End of M: Doors of PR firm close for good August 29, 2013 THE EXODUS from M Communications, the top flight financial public relations agency founded by City veterans Nick Miles (pictured) and Hugh Morrison has finally come to a grinding halt, as the firm, for all intents and purposes, has now ceased trading. A mole told The Capitalist yesterday that the plug was being pulled today, although a [...]
Sainsbury’s sales boost retailer to a larger share of the market August 28, 2013 SAINSBURY’S has successfully raised its share of the market through 2013, with sales growing as other retailers slip behind. In the 12 weeks to 18 August, Sainsbury’s saw a 49 per cent hike in sales, when compared to the same period last year, rising from £3.86bn to £4.05bn. According to the figures, collected from 30,000 [...]
Before the open – 27/08 August 27, 2013 Markets are expected lower on Syrian turmoil and poor US data yesterday. US Secretary of State John Kerry described events in Syria as "a moral obscenity" and said that "by any standard, it is inexcusable and — despite the excuses and equivocations that some have manufactured — it is undeniable." The US saw durable goods [...]
Ocado and Sports Direct: better to arrive late than not at all August 26, 2013 Whenever bankers are asked to explain why London’s market for new issues – the IPO market – nearly collapsed altogether last year, they cite a number of factors that always include the poor performance of a number of high-profile flotations. The lists are long and varied but almost everybody’s bete noirs include Sports Direct, Mike [...]
London Capital One Cup tie previews August 26, 2013 Bristol City v Crystal Palace ■ FOUR-TIME semi-finalists Crystal Palace could hand debuts to summer signings goalkeeper Neil Alexander, plus defender Florian Marange and midfielder Elliot Grandin. Welshman Jonny Williams, 19, could also make his first start of the season for Ian Holloway’s team. Bristol City, without a league win this term, may hand a [...]
Before the open – 21/08 August 21, 2013 Traders are expecting European markets to open lower after a mixed US session as it goes ex dividend today. The big action in today's markets will come at 19.00 as the Federal Open Market Committee publishes its minutes. #FTSE called around 5 points lower. #EURUSD bedding in above 1.3400 – release of #FOMC minutes [...]
Lambert fires for England on dream debut August 14, 2013 STRIKER Rickie Lambert revealed he had fulfilled a lifelong dream after coming off the bench to score less than three minutes into his England debut to earn a thrilling 3-2 win over Scotland at Wembley. The 31-year-old replaced Manchester United striker Wayne Rooney on 67 minutes and 165 seconds later headed defender Leighton Baines’s corner [...]
Mears soaring in spite of extra costs from Morrison purchase August 13, 2013 MEARS, the social housing support services group, yesterday unveiled a 15 per cent jump in first-half profits, despite spending £6.4m on restructuring costs after acquiring the Morrison social housing business. The firm’s adjusted pre-tax profit rose to £15.5m and revenues rose 49 per cent to £457.8m. The Morrison business boosted revenues by £128m over the [...]
Morrisons and Ocado split over online sales tax July 28, 2013 WM MORRISON and Ocado bosses are heading for a clash over controversial plans to launch an online sales tax. The two companies last week formally completed a £216m licensing agreement that will allow Morrisons to launch an online grocery service by January 2014. However the debate surrounding the mooted tax has put Dalton Philips, the [...]
Before the open – 25/07 July 25, 2013 Today will show whether growth is accelerating in the UK, with second quarter GDP out later. After a limp 0.3 per cent growth in the first quarter, economists are now forecasting that we'll see the economy grew by as much as 0.6 per cent in the second quarter. Asian equities fail to respond to #China’s [...]