After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Topps Tiles says DIY is shrinking May 19, 2015 TOPPS TILES boss Matt Williams said consumers were shifting away from carrying out DIY projects themselves, as the growth of its trades business helped the retailer post better-than-expected first-half profits. Williams said trade sales increased to 48.3 per cent of the business from 44 per cent last year. “People are becoming more adventurous with their [...]
Sainsbury’s Bank to partner with Western Union on money transfer service May 19, 2015 Sainsbury’s Bank has joined forces with Western Union to offer money transfer services in 170 of the food retailer’s stores across the UK. The supermarket chain has been ramping up its presence in financial services since taking full control of its banking arm last year, in a bid to boost profits and expand its [...]
TK Maxx owner’s thrill at the tills as savvy shoppers seek bargains May 19, 2015 TJX Companies, the US-listed firm behind discount fashion retailer TK Maxx, said sales increased by six per cent to $6.9bn (£4.5bn) in the first quarter, as demand for its cut-price products continued to grow. TJX runs 3,441 discount fashion and homeware shops across the US, Canada and Europe, and trades under brands including TJ Maxx, [...]
Peppa Pig helps Entertainment One double its pre-tax profits May 19, 2015 ENTERTAINMENT One yesterday announced rising profits, fuelled by success in television, particularly the continuing popularity of its Peppa Pig children’s character. The firm said that pre-tax profits had doubled to £44m, and earnings before interest, taxes, depreciation and amortisation (Ebitda) was up 16 per cent to £107.3m, for the year ending March 31 2015. Group [...]
Homeserve has left problems in past says boss May 19, 2015 HOMESERVE boss Richard Harpin cited retailer Next as an inspiration for the company’s turnaround, and said that the repairs business had put its previously regulatory problems “firmly in the past”. The company reported revenue of £584.2m for the year ended 31 March, up from £568.3m, while profit before tax climbed from £24.4m to £76.7m. While [...]
City Moves for 20 May 2015 | Who’s switching jobs May 19, 2015 EY The professional services firm has appointed Andrew Penny as senior advisor to its real estate corporate finance team. Penny has a wide range of experience, and was formerly global co-head of real estate investment banking at JP Morgan. National Counties Building Society Rodger Hughes has been appointed chairman of the Epsom-based building society. He [...]
Thorntons share price rises as CEO Jonathan Hart announces departure May 18, 2015 British chocolate maker Thorntons said yesterday its chief executive, Jonathan Hart, would step down by the end of June and that chief operating officer Barry Bloomer will take on the role of interim CEO. Thorntons said it would begin a search for Hart’s successor, but did not cite any reason for the departure of the [...]
Grocery sales volumes across Europe reach a six-year high May 18, 2015 THE AMOUNT of everyday products bought by consumers across Europe has risen by its highest year-on-year level in six years, according to the latest data by research giant Nielsen. The company said that sales volumes of fast-moving consumer goods (FMCG), such as soft drinks, toiletries and food, rose by 2.4 per cent in the first [...]
Alibaba to fight counterfeit case against Kering May 18, 2015 ALIBABA has dismissed the lawsuit brought by luxury giant Kering over counterfeit merchandise as “wasteful litigation”, but said it will fight the case “vigorously”. Kering, which owns high-end brands such as Gucci, Alexander McQueen, Saint Laurent and Balenciaga, is suing the Chinese e-tailer over claims it is complicit in the sale of fake handbags, watches [...]
Deflation, no demand: Global economies struggling to up inflation and stagnation is on the rise May 18, 2015 We are now well into the second phase of post-financial crisis recovery. The first, terrifying phase was the period when central banks had to cut interest rates to zero and then develop and deploy new, unconventional weapons, including QE. The European Central Bank (ECB) had to be more imaginative than others, as it tried [...]