After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
BMW’s Peter Walker says being an official partner of England Rugby is no joke for his firm April 26, 2015 Before April finally gives way to May, let us take you back to the start of the month, and the avalanche of sometimes extremely entertaining, sometimes immeasurably unamusing April Fools that organisations feel duty bound to overwhelm us with to show how cutting edge or just plain “one of us” they are. BMW did one. [...]
French Connection share price plunges on profit warning April 24, 2015 Retailer French Connection has suddenly found itself in the bargain bin, after shares plummeted more than 20 per cent in early trading. The fall came after the brand issued a trading update saying its full-year results are likely to be "materially lower than expected". Ouch. The brand, which has underperformed fairly consistently since the heady [...]
Budget deficit drops but pre-General Election growth could disappoint Tories April 23, 2015 Chancellor George Osborne received a budgetary boost yesterday as figures revealed the government had cut the budget deficit, but weak retail sales could hit a key economic growth figure in the run up to the General Election. Government borrowing – as measured by the public sector net borrowing requirement excluding public sector banks – totalled [...]
Hammerson sells Sheffield’s biggest retail park for £62m April 23, 2015 HAMMERSON said yesterday it has sold Drakehouse Retail in Sheffield as it looks to focus on its other major developments in Croydon and Brent Cross. The FTSE 100 property group has sold the 21,000 square metre retail park located to the south east of Sheffield city centre to 90 North Real Estate Partners for £61.7m. [...]
Sainsbury’s to shed 800 store jobs in bid to save £500m in supermarket price war April 23, 2015 Sainsbury’s is set to axe 800 jobs in stores as part of a shake-up aimed at saving £500m over the next three years to better position itself in the ongoing supermarket price war. The supermarket chain said yesterday that it plans to remove department and deputy managers from certain stores in order to invest [...]
City Moves for 24 April 2015 | Who’s switching jobs April 23, 2015 Deloitte Real Estate Gerry Biddle has been appointed senior specialist business rates consultant in Deloitte’s real estate division’s valuation advisory and business rates team. He was responsible for setting up the London specialist rating unit of the Valuation Office Agency. Aviva Investors Simon Young has been appointed UK equities fund manager at Aviva’s asset management [...]
Best of the Brokers for 24 April 2015 April 23, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com GAME DIGITAL Liberum upgraded the video games retailer to a “buy” rating from “hold”, following a capital markets day which “showed that Game can develop and diversify sales and profits over the next 24 months”. While current trading is soft, the broker sees [...]
FTSE boosted by utilities to reach near record high – London Report April 23, 2015 BRITAIN’S top equity index pushed higher yesterday, boosted by a bump-up for utilities stocks just two weeks before the General Election, while mining stocks also outperformed. United Utilities climbed 1.1 per cent, SSE advanced 1.4 per cent and National Grid rose 0.6 per cent after investment bank Citigroup said the sector would be favoured as [...]
Retail sales unexpectedly slip in March as petrol sales plummet April 23, 2015 The easter bunny failed to help retail sales, which unexpectedly fell last month as motorists stayed away from petrol pumps, adding to the mixed picture currently being painted for the economy. Retail sales fell 0.5 per cent in March from a month earlier, as petrol stations said sales slipped 6.2 per cent, according to data released [...]
Retail sales unexpectedly slip as sales of petrol plummet April 23, 2015 The easter bunny failed to lift retail sales which unexpectedly fell last month amid falling sales from petrol stations, adding to the mixed picture currently being painted for the economy. Retail sales fell 0.5 per cent in March from a month earlier, as petrol stations said sales slipped by 6.2 per cent, according to data released today [...]