After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Interview: City A.M. talks economics with Santander UK chief economist Barry Naisbitt May 4, 2015 GDP growth slowed to 0.3 per cent in the first quarter. Is the UK economy losing momentum? Growth at 0.3 per cent was a surprise relative to expectations, particularly expectations based on purchasing managers index surveys, retail sales and the like. We do know that GDP figures get revised, however. It seems to me that, [...]
ECI Partners cycles off with Evans Cycles May 1, 2015 The 90-year-old bike shop Evans Cycles has been sold by former owners Active Private Equity to another private equity firm ECI Partners for an undisclosed sum. ECI Partners said it will hold a "significant majority stake" in Crawley-based bike chain, which has 56 stores and employs around 1,200 people. This will leave its management with the remaining minority stake. [...]
Virgin Money eats up mortgage market share as lending rises May 1, 2015 The figures Virgin Money delivered a rise in mortgage lending and ate up a larger chunk of market share during the first quarter, cementing its position as one of the UK's fastest growing challenger banks. The lender said it enjoyed a 34 per cent rise in gross mortgage lending to £1.6bn at a time when [...]
Investors pull out £1bn before General Election April 30, 2015 INVESTORS have withdrawn £1bn from UK equity funds in the run-up to next week’s General Election, according to a new report from Hargreaves Lansdown. Overall net fund sales to retail investors were down by more than half in March compared to the same time last year, according to the fund manager’s report. Laith Khalaf, a [...]
Home Retail ups Argos digital shop upgrades April 29, 2015 HOME Retail Group said yesterday that it aims to have more than 200 “digital” Argos stores by the end of the financial year after efforts to modernise its estate helped deliver a 32 per cent rise in full-year profit to £93.8m. Argos will convert between 50 to 75 of its traditional stores into the new [...]
Thorntons warns of reduced orders from supermarket buyer April 29, 2015 THORNTONS said sales were almost flat in the third quarter after a reduction in orders by one of its main supermarket buyers continued to hurt the chocolatier. The retailer, which issued a profit warning in December after unexpected cut in orders from two grocery chains and problems at its new warehouse, said sales across its [...]
Investor caution leads FTSE to a three-week low – London Report April 29, 2015 BRITAIN’S top share index slipped to a three-week low yesterday as a slowing US economy and caution before the end of a Federal Reserve policy meeting led some investors to take profits from recent highs. The US reported its economy grew in the first quarter at just a 0.2 per cent annual rate, well below [...]
The Leap 100 have fallen out of love with British banks April 29, 2015 THE NARRATIVE of growing businesses struggling to find finance is familiar: post-crash, banks won’t lend and cash for expansion can be difficult to access. On the face of it, the experiences of The Leap 100 give the lie to this simplistic tale: 64 per cent say that they haven’t found it difficult to access sufficient [...]
Retail sales unexpectedly slip but next month could be mega April 29, 2015 Retail sales unexpectedly slowed in the year to April, but retailers are gearing up for a sharp rise next month, with expectations hitting the highest level since May last year. The latest CBI Distributive Trades Survey of 122 firms showed 30 per cent said retail sales were up on a year ago, while 18 per [...]
Next share price edges higher following sales jump April 29, 2015 The figures Next's share price edged slightly higher by more than three per cent this morning, after the company reported batter-than-expected sales in the past three months thanks to temperate winter and spring weather. Full price sales rose 3.2 per cent in the period, beating the zero to three per cent rise the company itself forecast [...]