Wells Fargo hopes for more UK expansion January 14, 2015 GIANT US retail bank Wells Fargo saw profits edge up in the final quarter, led by steady loan and deposit growth. The bank has expanded into areas such as asset-based lending in the UK, and has plans to expand the business further, on the basis that mid-sized firms have traditionally been under-served by large international [...]
World outlook pushes US low – New York Report January 14, 2015 A WORLD Bank global economic forecast’s concerns caused US stocks to fall for a fourth day of trading in a row yesterday. Copper prices sank, although a late-day rebound in energy shares left the market well off its lows after a volatile session.The S&P energy index ended up 0.1 per cent after falling as much [...]
Copy of Charlie Hebdo sells for £100,000 on eBay January 14, 2015 The print run for Charlie Hebdo’s first issue since the attack on its offices was extended to 5m copies, with huge sums apparently changing hands. There were long queues around kiosks in France as the paper sold out, forcing the paper to extend its print run to 5m copies. In the UK, there was also [...]
US retail sales unexpectedly slump by 0.9 per cent in December January 14, 2015 US retail sales unexpectedly slumped by 0.9 per cent in December, marking its biggest drop in nearly a year. The decline was broad-based with nine out of 13 sectors posting a decline, the Commerce Department said. This came despite a perceived boost to the consumer from falling oil prices and a healthy jobs market. Core [...]
Standard & Poor’s cuts Tesco to junk January 14, 2015 Standard & Poor's (S&P) today downgraded Tesco to junk status, suggesting the ratings agency is unconvinced by the turnaround strategy unveiled by new chief executive Dave Lewis last week. The grocer's senior long-term credit rating was lowered to BB+ from BBB-. It is unlikely to go any lower than this however, with S&P saying the [...]
Tesco’s share price nears pre-overstatement level for the first time in four months January 14, 2015 Tesco's share price is nearing the level it was before the supermarket admitting to overstating its profits in September, thanks to a sustained rally in the last month. Shares in the UK's largest retailer have risen more than 30 per cent since mid-December and at pixel time this morning the business was up 2.1 [...]
Game Digital share price plummets 50 per cent following major profit warning January 14, 2015 Shares in Game Digital have tanked in early morning trading, after the company issued a major profit warning after market close on Tuesday. The video game retailer's share price opened 50 per cent down on Tuesday, before recovering slightly to a price of around 220p per share – a 35 per cent drop on [...]
SuperGroup share price soars on strong Christmas figures January 14, 2015 SuperGroup's share price soared 7.5 per cent this morning, after the company revealed strong results for the 11-week Christmas trading period. The business, which owns the SuperDry brand, had a pretty impressive period up to January 10, with total retail sales up 17.8 per cent, while like-for-likes rose 12.4 per cent. Ecommerce was [...]
Burberry sales grow in third quarter but slip in Hong Kong January 14, 2015 British luxury brand Burberry had a good end to 2014, with retail sales rising 15 per cent to £604m in the third quarter. The success was driven largely by strong digital growth in the Americas, Europe and the Middle East, but this progress wasn’t replicated in Asia – sales fell in Hong Kong, and [...]
Ocado Christmas sales soar and looks ahead to first ever full-year profit January 14, 2015 Online grocer Ocado reported its customer fulfilment centres processed close to 40 per cent more items in the week to Christmas for Ocado.com and Morrisons.com than over the same period the previous year. On the company's biggest day in the run-up to Christmas sales climbed 15 per cent from 2013 to almost £6m. Gross sales [...]