After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Kingfisher kicks off B&Q store closures as quarterly profits rise May 28, 2015 Kingfisher, Europe’s biggest home improvement retailer, said it has found buyers for a quarter of its stores earmarked for closure as it posted a rise in first quarter retail profit yesterday. Kingfisher plans to close 60 B&Q stores over the next two years in a major overhaul of the business revealed by new chief [...]
Forecourt owner Applegreen set for London float May 28, 2015 APPLEGREEN, one of Ireland’s biggest petrol forecourt retailers, announced plans yesterday to make a £230m stock market debut, in what will be the first Irish retail initial public offering (IPO) since the recession. Applegreen is part of Irish fuel group Petrogas, founded by former Esso executive Bob Etchingham in 1994. It has 152 forecourts including [...]
Kingfisher profits knocked by foreign exchange volatility, but share price is up nonetheless May 28, 2015 Currency volatility did Kingfisher no favours in the first quarter of 2015, but investors have not been put off. The figures Sales for the company, which owns B&Q, rose slightly by 0.8 per cent to £2.6m during the first three months of the year. Retail profit was also up by 1.4 per cent at £150m [...]
Keydata owner pledges to fight FCA after £75m fine May 26, 2015 The bitter wrangle between the Financial Conduct Authority (FCA) and Keydata reached boiling point yesterday as both sides promised legal action to decide the long-running dispute. The financial regulator announced it is seeking record fines against three former managers of the investment service, claiming the company mis-sold complex products known as “death bonds” to consumers. [...]
Shops most upbeat for 27 years May 26, 2015 RETAIL sales are picking up sharply, a study from the Confederation of British Industry (CBI) showed yesterday, with firms’ expectations for next month at their highest level in 27 years. Orders to suppliers rose at their fastest pace since December 2010 in May, while sales are well above average for the time of year – the [...]
Boohoo’s finance chief Neil Catto granted options over 1.6m shares May 26, 2015 Boohoo’s finance chief Neil Catto was yesterday granted 1.6m share options worth £400,000 after his previous options effectively went under water following a slump in the online retailer’s share price. Catto, who steered the company through its float in March last year, was rewarded at the time with options over 2m shares. These would have [...]
FCA seeks record £75m fine from Keydata boss Stewart Ford over misselling claims, Ford to hit back with £650m high court claim May 26, 2015 The FCA is seeking record fines against three former managers of Keydata Investment Services, claiming the company missold complex products to consumers. The watchdog has fined former chief executive Stewart Ford £75m, former sales director Mark Owen £4m and former compliance officer Peter Johnson £200,000, and wants to ban them from working in regulated [...]
Slip in consumer confidence despite retail sales growth – London Report May 25, 2015 DATA on GDP growth, consumer confidence and house prices are due out this week, and today sees the release of the CBI Distributive Trades Survey. The CBI’s research is expected to show robust retail sales growth in May. GDP growth in the first quarter is likely to be revised up to 0.4 per cent quarter-on-quarter [...]
“Sell in May and go away, don’t come back till St Leger Day”: With a week to go, should you sell in May? – CNBC Comment May 25, 2015 You have a week left to make up your mind about what to do with your money. But don’t panic – there’s no reason to call your broker just yet. This countdown only applies if you believe the much-touted adage for investors, “sell in May and go away, don’t come back till St Leger Day”. [...]
Sterling climbs after rebound in retail sales May 21, 2015 THE STERLING rose sharply against the dollar yesterday on the back of stronger-than-expected retail sales, boosting confidence in the strength of the UK economic recovery. Retail sales rose 1.2 per cent in April on the month, the strongest increase since November, as the warmer weather boosted demand for summer clothing. The figures, released yesterday by [...]