After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Discounts on delayed products to hurt US retailer Macy’s profit May 13, 2015 US RETAIL giant Macy’s yesterday forecast a lower second-quarter profit as it discounted merchandise received late due to a strike at West Coast ports and tourists spending less as the dollar stays strong. Shares of the company, which also reported a drop in first-quarter profit, fell three per cent to $63.40 last night Macy’s, which [...]
FTSE ends flat after weak US data but Mondi moves on up – London Report May 13, 2015 THE FTSE was broadly flat but outperformed Europe yesterday after weak US retail data erased gains on the back of the Bank of England saying it will raise rates in about a year’s time. The blue-chip FTSE 100 closed up 0.2 per cent at 6,949.63 points by 1625 London time after falling 1.4 per cent in [...]
Early Easter hits April retail sales May 11, 2015 RETAIL spending growth dropped in April, after an earlier Easter pulled sales forward into March, according to industry data out today. KPMG and the British Retail Consortium (BRC) said like-for-like sales decreased by 2.4 per cent compared with April last year, when they had increased 4.2 per cent. Total retail sales fell 1.3 per cent [...]
City Moves for 12 May 2015 | Who’s switching jobs May 11, 2015 Colliers International Martin Mahmuti has been appointed senior property economist in the commercial real estate services firm’s research and forecasting team. He began his career at Cushman and Wakefield, where he primarily reported on UK, Europe, Middle East and Africa retail markets. Hermes Investment Management Philip Nell has been appointed fund director in the asset [...]
Fantasy football: Can BT’s dreams of boosting growth come true? May 7, 2015 The telecom’s move into TV sports gained credibility from its £900m deal to broadcast the Champions League, but it is not without problems BT BOSS Gavin Patterson didn’t waste any time in making his presence felt at the top of the FTSE 100 company when he was appointed chief executive in 2013. Just two months [...]
Morrisons boss says customers key to survival May 7, 2015 MORRISONS new chief executive David Potts said yesterday that it would take more weeks of listening to customers and staff to understand how to bring the “British underdog” back to life, as it reported a further drop in sales. In his first trading update since taking over the reins in March, Potts said he had [...]
Sofa chain SCS less than comfy as sales slump May 7, 2015 SHARES in SCS plunged 31.3 per cent last night after the sofa chain blamed the warmer weather and uncertainty over the General Election for a sharp slide in sales in April. The retailer, which floated earlier this year, said its like-for-like order intake dropped by 15.9 per cent in the four weeks to 2 May [...]
Morrisons share price down after sales fall, despite slower rate under new boss David Potts May 7, 2015 The figures The Bradford-based retailer said that like-for-likes excluding fuel were down 2.9 per cent in the 13 weeks to 13 May. However, this was slightly less than analysts' forecasts of a decline of three per cent. Shares in Morrisons were trading down two per cent at 176.2 pence per share this morning. Why it's interesting [...]
Tidjane Thiam’s last Prudential results put spotlight on Asia while UK business lags May 6, 2015 Outgoing Prudential boss Tidjane Thiam yesterday said the company was no longer seeking to grow in the US and UK, and would instead focus on expanding in the Asian market. Thiam delivered his last set of results as the head of the insurance group, which detailed the firm’s 22nd consecutive quarter of growth. Sales across [...]
Record grocery deflation hurts sales at Tesco, Asda and Morrisons and Sainsbury’s May 6, 2015 All four of Britain’s major supermarkets saw sales fall over the last 12 weeks, while the discounters continued to slow, as grocery price deflation reached another record low, figures released yesterday show. Sainsbury’s was the strongest performer among the big four despite a 0.2 per cent fall in sales thanks to its increased focus on [...]