After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Game Digital share price tumbles as profit falls and CFO steps down March 24, 2015 Game Digital’s share price slumped more than seven per cent in early morning trading on Tuesday after announcing a hefty fall in profits in its maiden interim results. The company’s chief finance officer Benedict Smith, who helped oversee its listing on the London Stock Exchange last year, will step down later this year. The figures [...]
French Connection, Conde Nast and Champneys named and shamed for failing to pay minimum wage March 24, 2015 French Connection, Conde Nast and Champneys have been named and shamed by the government for failing to pay their workers the minimum wage. In total, 48 companies spanning fashion, publishing, hospitality, health, car, care and retail have been identified today by the Department for Business, Innovation and Skills. They owed workers £162,000 in arrears between [...]
Fever-Tree toasts fizzing first set of results since its float March 23, 2015 UPMARKET drinks firm Fever-Tree raised its glass yesterday to a 49 per cent jump in revenue in its debut set of results since floating on the London stock market in November. The 10-year old business reported sales of £24.7m, which in turn lifted adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) by 48 per [...]
House of Fraser cannot cushion sofa chain’s fall March 23, 2015 SCS GROUP, the sofa chain that listed on the London stock market last month, reported widening losses in the first half of the year blaming costs relating to the launch of its House of Fraser concessions. Pre-tax losses for the 26 weeks to 24 January rose to £13.1m from a £2.54m loss the same time [...]
McDonald’s UK chief exec quits to join Halfords March 23, 2015 MCDONALD’S UK chief executive Jill McDonald is to leave her namesake after taking the top job at Halfords, the bikes-to-car parts retailer. McDonald joined the American fast food chain in 2006 as chief marketing officer before being promoted to UK chief executive and president of its Northern Europe region in 2010. Her departure comes less [...]
RBS cuts stake in US with $3bn Citizens sale March 23, 2015 RBS WILL cut its stake in US bank Citizens to below half this week, as it yesterday announced plans to sell off more shares in the lender. The bailed-out British bank is cutting down its overseas presence to focus on the UK market. It floated Citizens on the New York Stock Exchange six months ago, [...]
Turn failing council estates into city villages to provide the homes Londoners need March 23, 2015 There is no single solution to London’s housing crisis. But a key element is the systematic regeneration of the huge tracts of land owned by the capital’s 32 local authorities, much of it occupied by council estates in desperate need of renewal. Hundreds of new “city villages” should be created, improving the lot of existing [...]
Here’s why Britain shouldn’t worry about deflation just yet March 23, 2015 Plumper pay-packets, and falling prices, are making people much better off. But they're just still not spending. This is curbing sales, squeezing businesses' earnings, and leading to wage cuts and layoffs. This is what a dreaded deflationary spiral looks like. Luckily, it's not something we have to worry about just yet. Official figures which are [...]
Britain likely to reach a record low for inflation – London Report March 23, 2015 CONSUMER price inflation is likely to have fallen to a new record low of 0.2 per cent in February, moving Britain closer to deflation. Official figures out tomorrow look set to show the fall in the index, which comes after the previous low of 0.3 per cent in January. Howard Archer, of IHS Global Insight, [...]
Next chief says review won’t change rates bill March 19, 2015 LORD Wolfson, the chief executive of Next, said the government’s review of business rates launched this week was unlikely to affect larger retailers, with large store portfolios, as the tax bill shifts from struggling high streets to their more successful counterparts. Business rates deliver around £25bn to the Treasury every year, but they have been [...]