Hornby names new chief exec February 13, 2014 Model train maker Hornby yesterday said it had appointed former Ladbrokes board director Richard Ames as its new chief executive. Ames joined Ladbrokes in 2005 and ran the UK and Ireland retail operations where he was responsible for managing a successful retail turnaround strategy. Ames has also held senior roles at Dixons and Wal-Mart. The [...]
New York Report: US investors remain upbeat February 13, 2014 US STOCKS closed higher yesterday, with the Nasdaq rising for a sixth straight day, as investors looked past disappointing data on consumer spending, chalking the weakness up to weather instead of weaker fundamentals. The Nasdaq is up about 5.7 per cent over the past six sessions, its best six-day advance since December 2011. Both the [...]
Gold hits $1,300 for first time since November February 13, 2014 Gold has been climbing after today's disappointing US figures, and prices just hit a November 2013 high. While 2013 was a year that saw gold prices in decline, they're now back up to $1,300/oz. ABN Amro analyst Georgette Boele says that "the short-term drivers seem supportive for gold because we had quite a lot of [...]
What you need to know before the US open – 13/02 February 13, 2014 Markets are in the red today, and US markets are expected to track counterparts lower, as the S&P 500 futures shed 0.7 per cent. The dollar’s hit a two-week low against the euro, adding to investor disappointment of its failure to take off this year. The weather is continuing to wreak havoc and the ground and [...]
What you need to know before the open – 13/02 February 13, 2014 It looks like the gains seen over the last few days are set to wane today, with Europe expected to open lower as markets pause for breath. ETX Capital #morningcall: FTSE100 down 20 points, the DAX lower by 23 points and the CAC40 down 8 points — ETX Capital (@ETXCapital) February 13, 2014 [...]
Inside Track: Jenkins should settle Barclays’ £50m fine so he can move on February 12, 2014 RAISE £6bn from investors and hand more than half of it back to employees and investors six months later: as a formula for managing a corporate balance sheet, there’s a certain novelty in Barclays’ approach. But for someone who has choreographed efforts to rehabilitate a company’s image as carefully as Antony Jenkins, this has been [...]
Morrisons shares are buzzing on this takeover rumour February 12, 2014 Morrisons shares jumped over five per cent this morning on rumours that the founding family is planning to take the company private. According to Bloomberg, a number of private equity firms have been approached to see if any is interested in a buyout, which would be valued at over £7bn. Reported names include CVC Capital [...]
What the other papers say this morning – 12 February 2014 February 11, 2014 FINANCIAL TIMES Planners seek cash for fast ruling Westminster Council has sought permission from the Treasury to accept cash payments from property developers to speed up their planning applications and resolve backlogs in what could become a template across London. In a joint letter to George Osborne the leader of Westminster council, deputy London mayor [...]
Grocery sales grow at slowest pace since 2005 February 11, 2014 BRITAIN’S grocery market is growing at its slowest pace since 2005, with only discounters as well as Waitrose and Sainsbury’s defying the downturn and growing market share. Figures out yesterday from Kantar Worldpanel showed that grocery sales rose by 2.4 per cent in the 12 weeks to 2 February compared with the same time last [...]
New Look rules out plans to float February 11, 2014 NEW LOOK chief executive Anders Kristianson has said the group is in no hurry to join the latest flurry of stock market listings, after the fashion retailer reported a five per cent jump in third quarter sales. Kristianson said the company “did not have any imminent plans” and needed to strengthen its position overseas and [...]