Investis brings former Reuters chief on board November 17, 2013 FORMER Thomson Reuters finance chief David Grigson has been appointed chairman of digital communications firm Investis. Investis, which develops digital media, websites and mobile apps for over 1,700 listed businesses including 70 per cent of the FTSE 100, was bought last year by Gresham Private Equity for £25m. Grigson also currently serves as chairman of [...]
Morrisons boss insists sales will return to growth November 7, 2013 MORRISONS’ boss Dalton Philips has insisted that like-for-like sales will move back into the black over Christmas despite the supermarket chain suffering a further deterioration in trading in the third quarter. Sales at stores open more than a year fell 2.4 per cent in the 13 weeks to 3 November, at the bottom of analysts’ [...]
Poundland hires retail analyst Dorgan as it eyes 2014 flotation November 4, 2013 PHILIP Dorgan, one of the retail sector’s top analysts, has joined Poundland, fuelling further speculation that the bargain chain is heading for flotation next year. Dorgan, who has worked over three decades as an analyst, was most recently at broker Panmure Gordon, but was made redundant from the firm in July. One of the most [...]
APR Energy to buy GE rental unit for £194m October 23, 2013 TEMPORARY power provider APR Energy yesterday said it has agreed to buy General Electric’s power rental business for $314m (£194m), in a deal which its chief executive called “transformational” for the company. John Campion told City A.M. that the acquisition of GE Power & Water in Houston, which rents mobile gas turbines to provide temporary [...]
Tough Australian job market sparks Page warning October 14, 2013 RECRUITER Michael Page yesterday said third-quarter profits in its Australia and New Zealand business fell by 20 per cent, hit by a slowdown in the region’s mining sector. The FTSE 250-listed firm also announced that its finance chief would be leaving after just 18 months in the role. No reason was given for the surprise [...]
Sainsbury’s to open dark store to meet online demand October 13, 2013 J SAINSBURY is to open its first dark store to support fast-growing demand for its online grocery service in London and the south east. The dark store – so-called because it is not open to the public and only fulfils online orders – will open in Bromley-By-Bow, east London, within the next few years, the [...]
Crumbs! Cameron fails to use his loaf October 1, 2013 DAVID Cameron may have been pilloried yesterday for failing LBC’s everyman test and admitting he didn’t know the price of sliced bread, but after using our loaves and doing a little investigative work, The Capitalist has a crumb of sympathy for the Prime Minister. Whether one prefers artisan sourdough or tiger bread, the selection of [...]
Inside Track: London is ready and waiting for the Royal Mail flotation September 24, 2013 THE FORTHCOMING privatisation of Royal Mail is the biggest post-financial crisis test so far of the market for new issues in London, which was virtually closed for business just a couple of years ago. In the years following the financial crisis, London became a notoriously difficult place on which to list shares in a new [...]
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 [...]
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 [...]