London Report: Retail sales revival drives FTSE up to late January levels February 11, 2014 The UK’S top equity index rose for a fifth straight session yesterday, boosted by retailers which were up strongly on industry data that provided more evidence the economic recovery is slowly gathering momentum. The blue-chip FTSE 100 index closed up by 1.2 per cent, or 81.11 points, at 6,672.66 points – marking the index’s highest [...]
What the other papers say this morning – 11 February 2014 February 10, 2014 FINANCIAL TIMES Woodford puts name to new fund Neil Woodford, one of Britain’s most successful fund managers, will pin his own name to his asset management venture, according to Companies House filings. Woodford Investment Management has been set up at the same address at Oakley Capital, the firm Mr Woodford is joining in May after [...]
Retailers kick off new year with biggest sales boost since 2010 February 10, 2014 A BUMPER January saw British retailers record the fastest growth in sales for over three and a half years, with a 5.4 per cent boost when compared to January 2013. Online sales led the increase once again, expanding by a stunning 19.2 per cent over the 12 month period, the strongest result for internet retailers [...]
Land Rovers drive revenues at Tata Motors February 10, 2014 RESURGENT car maker Jaguar Land Rover generated 85 per cent of its Indian parent company’s revenues and almost all of its profits in the last nine months of 2013. Revenues at JLR rose 30.8 per cent to £14bn while profits before tax rose 65 per cent to £1.9bn. This rapid growth compares to a 23.6 [...]
Landlords fight retailer Game over rent rules February 9, 2014 LANDLORDS and computer games seller Game will head to the Court of Appeal this week to find out whether the retailer owes rent for the first three months after its collapse into administration in March 2012. Four of the country’s biggest shop landlords – Hammerson, British Land, Intu and Land Securities – argue that the [...]
London Report: Barclays, Bank of England and Lloyds in focus February 9, 2014 BRITISH banks will be under the spotlight this week as Barclays and Lloyds deliver their full-year results and Bank of England governor Mark Carney updates the markets on its forward guidance policy for setting rates. Lloyds has already provided an update on its progress, predicting an underlying profit of £6.2bn for 2013 compared to £2.6bn [...]
Wall St The Week Ahead: Investors keen to see if rally can continue February 9, 2014 AFTER the S&P 500’s first weekly gain in a month, investors will see this week whether the US stock market’s rally of the last two days is the shape of better things to come – or if this year’s weakness will turn into a full-fledged correction. At Friday’s close, the S&P 500 was up 0.8 [...]
Amazon has (finally) started delivering goods to the Amazon February 7, 2014 On Friday Amazon started selling its Kindle online across Brazil. This particular product launch has a special resonance for the world's largest online retailer. The Kindle Paperwhite will now be sold in the region of the world where the prestigious online company takes its name – the Amazon. This marks the first time Amazon has [...]
Inside Track: Supermarket set to repair Russian reputation in London February 6, 2014 THERE’S been many a well-known company, from the likes of retailer Harvey Nichols to the property website Zoopla or even the restaurant website Just Eat, tipped to float on the reviving London new issues market, but it looks likely one of the first companies to make it across the line will be Lenta, which is [...]
Superdry boss says Germany to overtake UK February 6, 2014 SUPERGROUP chief executive Julian Dunkerton yesterday laid out his ambitions for the fashion retailer’s German business to overtake its home market, as it revealed a 22 per cent jump in third quarter sales to £141m. Dunkerton said the Superdry owner will be shifting its focus away from the UK towards international expansion and that around [...]