After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Consumers set for a win-win in 2015 as competition pushes down prices February 3, 2015 Food prices have fallen by the steepest amount on record, figures released today show. Food prices dropped by 0.5 per cent year-on-year in January, down from 0.1 growth in December, according to data released by the British Retail Consortium (BRC). Meanwhile, overall shop prices saw deflation for the 21st month in a row. Shop prices [...]
Tesco pays out £1.2m to former chief executive February 3, 2015 TESCO has reluctantly agreed to hand over more than £2m in payments withheld from its former chief executive and former chief financial officer in the wake of last year’s shock £263m profit scandal. Britain’s biggest supermarket said yesterday that it will pay Philip Clarke £1.22m and Laurie McIlwee £970,880 in “liquidated damages” after lifting suspensions [...]
Ocado says it is at forefront of food revolution February 3, 2015 Ocado chief executive Tim Steiner said the “online grocery revolution” taking place will only help to further distance his firm from rivals and stay ahead of the market, as it posted its first ever full-year profit. The online grocer made an adjusted pre-tax profit of £10.1m in the year to 30 November compared with £3.8m [...]
Oil price climb helps Wall St – New York Report February 3, 2015 US STOCKS jumped more than one per cent yesterday, led by energy shares as oil prices extended their recent rally, while higher-than-expected January car sales also bolstered the advance. Merger activity also helped, with shares of Office Depot jumping 21.6 per cent to $9.28 after reports the retailer was in advanced talks to merge with [...]
Ocado chief executive Tim Steiner heralds “online grocery revolution” as firm records first full year profit February 3, 2015 Ocado has made its first full-year profit in the company's 15-year history The figures Pre-tax profit was £7.2m for the 12 months to 30 November, compared to a loss of £12.5m during the equivalent period a year earlier. Sales went up from £843m to £972.4m, while earnings before interest, tax, depreciation and amortisation rose [...]
Equistone revs up for motorbike business by buying stake in Polo February 2, 2015 PRIVATE equity firm Equistone Partners Europe has bought a majority stake in German motorcycle clothing and accessories brand Polo Motorrad. The firm was put up for sale by the previous main owner, Paragon Partners, along with Tempus Capital and SM Investment. Under Equistone’s ownership, Polo plans on expanding its network in both Germany, where it [...]
Venezuela locks up businessmen for “conspiring” to create long queues in effort to undermine government February 2, 2015 Venezuela's increasingly erratic President Maduro has announced that business owners of an unnamed chain of shops have been arrested for purposely creating long queues. Long lines outside retailers have become one the hallmarks of Venezuela's economic problems, accompanied by soaring inflation and empty shop shelves. Maduro accused business leaders of "conspiring" against the people and [...]
TM Lewin shapes up and returns to profit February 1, 2015 SHIRT-MAKER TM Lewin returned to profit last year, thanks in part to a revamp of its website and the launch of new clothing ranges. The retailer reported a pre-tax profit of £636,000 in the year to 1 March 2014, up from a loss of £1.4m the previous year. Sales edged up slightly to £106.8m compared [...]
From Greek elections and Apple’s record-making profits to Thameslink floods and Afren’s misery: Here’s what got us talking this week January 30, 2015 News was dominated by results from the US this week, but it was Apple that really made waves with its history-making profits of $18bn in one quarter. Here are five things that put that into perspective. (Hint: It's huge). Meanwhile as the results of the Greek election began to sink in, investors started reacting. [...]
Rouble plummets against the dollar as Russian central bank makes shock cut to interest rates January 30, 2015 Russia's central bank has made a shock two percentage point cut to its benchmark rates of, lowering it to 15 per cent, which caused the rouble to plummet against the dollar, The currency slumped 1.2 per cent, sending it past the 70 per dollar mark. It's the first time it has slipped past that since December's [...]