Deutsche Bank eyes further job cuts in London to reduce costs November 22, 2015 DEUTSCHE Bank could be about to cut 1,000 more jobs in London as it further scales back on it’s investment bank. Traders, back-office staff and fixed income specialists at the bank could be given redundancy notices in the new year, the Sunday Times reported. Earlier this month Deutsche confirmed ex-Goldman Sachs banker Alasdair Warren will [...]
What got us talking this week – including the Paris attacks reaction, Black Friday, the Autumn Statement, Cross Boris in Crossrail revelations, Adele’s new album and Eddie Jones November 20, 2015 It was a week where Boris Johnson found a tunnel under his house, we heard petrol could dip under £1 a litre and we asked how financially literate you are. Paris attacks – the reaction While the market's immediate reaction was subdued, the emotional outpouring following the Paris attacks has been palpable – in France, Europe and [...]
FTSE 100 boosted by Fed and ECB policy minutes – London Report November 20, 2015 The London market soared yesterday, pushed higher by stronger than forecast results at Royal Mail and more signals of an interest rate rise from the US. The blue-chip index closed up 0.8 per cent at 6,329.93, its fourth consecutive day of gains. The minutes of the policy-setting Fed committee, released after the close on Wednesday, [...]
John Lewis tills ring with £100m of weekly sales in countdown to Christmas as Black Friday 2015 draws near November 20, 2015 John Lewis has posted a jump in sales to deliver its first £100m week of the festive season, the department store group revealed today. Sales in the week ending 14 November increased by 1.5 per cent on last year and by 15.8 per cent on the previous week, boosted by its Man on the Moon [...]
Ted Baker posts dramatic jump in third quarter sales November 19, 2015 Retailer Ted Baker's sales soared double-digits in the third quarter thanks to a popular autumn/winter line and international store openings, the company reported in an statement this morning. Sales rose 20.5 per cent in the last three months while store sales jumped 18 per cent with openings in Stansted Airport, Amsterdam, Malibu, Toronto and Hawaii. [...]
Mothercare more than doubles profits as UK turnaround plan pays off November 19, 2015 Baby goods chain Mothercare more than doubled profits in the first half of the year, in a sign that a revamp of its struggling domestic business is on track. Underlying pre-tax profits rose by 112 per cent to £7m in the six months to 10 October, thanks to a pick-up in trading at its UK [...]
Black Friday 2015 UK: Sharp drop in retail sales in October as shoppers gear up for the mega deals day and Cyber Monday November 19, 2015 UK retail sales dropped steeply in October as the hype surrounding the Rugby World Cup died down and shoppers kept cash aside to snap up some Black Friday bargains on the 27th November. The amount spent at retailers dropped 0.7 per cent on the month while the volume of goods bought was down 0.6 per cent, according to [...]
Black Friday UK 2015: Amazon, Currys PC World, John Lewis and Asos to be winners – while AO World, Home Retail Group and Game Digital will be losers November 18, 2015 Black Friday is less than 10 days away (27 November for those who haven't marked it in their calendar/had it tattooed on their forehead) and UK retailers are falling over themselves to get the sales bonanza right. Some, like Asda and fashion brand Jigsaw, have walked away from the discount day. But others are planning to [...]
Best of the Brokers for 18 November 2015 November 18, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com STANDARD CHARTERED Jefferies believes the $17bn revenues implied in Standard Chartered’s 2018 returns on an equity target of eight per cent will be “tough to achieve”, given the ongoing pressure at the bank. Five per cent returns would be more achievable in 2018 [...]
Bond Street is the world’s fourth-most expensive shopping street, after sites in New York, Hong Kong and Paris November 18, 2015 Bond Street is the world’s fourth-most expensive shopping street, with rents of $1,321 (£868) a year per square foot. The northern blocks of New York’s Fifth Avenue, home to the jewellery store made famous in the film Breakfast at Tiffany’s along with Apple’s glass cube and Saks Fifth Avenue, top the chart with yearly rent of [...]