Inside Track: London is ready and waiting for the Royal Mail flotation September 24, 2013 THE FORTHCOMING privatisation of Royal Mail is the biggest post-financial crisis test so far of the market for new issues in London, which was virtually closed for business just a couple of years ago. In the years following the financial crisis, London became a notoriously difficult place on which to list shares in a new [...]
New FTSE100 stocks see red as first trading day incurs losses September 23, 2013 SPORTS Direct and Coca Cola Hellenic both saw losses in their first day of trading after joining the index of 100 top shares yesterday. The sports retailer began the day positively but rapidly plunged into the red, ending its debut on the FTSE100 down 1.07 per cent, a bigger drop than the overall 0.59 per [...]
The new 911: the ultimate geek car September 23, 2013 This tech-heavy, street-legal racer will have petrol-heads panting with anticipation IT’S bonkers fast, isn’t it?”, says my co-driver as we climb out of the latest Porsche 911 Turbo S. We’ve been chasing Alex Riberas, one of Porsche’s junior drivers, around the race track at Bilster Berg, Germany, at appropriately blistering speeds. It’s a tricky circuit, [...]
CSR Award Nominations Shortlist September 19, 2013 There’s a new line in business that’s paying real dividends. UK plc is doing good business by doing good. Not some wishy-washy charity glad-handing, but a more enlightened commercial approach. It’s adding to the bottom-line in terms of employee motivation and retention, brand profile and competitive edge. On the other side of the deal, it’s [...]
Bottom Line: Results are also a game of two halves September 18, 2013 LUCKY for JD Sports that rival JJB went into administration at the end of last year. That helped it to score a 7.5 per cent increase in like-for-like sports sales in the UK and Ireland in the first half, with group profit before tax up 111 per cent to £6.1m. Without it, these results could [...]
Bernanke’s successor will have more than monetary policy to worry about September 12, 2013 US FEDERAL Reserve watchers have taken a break from trying to figure out when the Fed will cut off its bond-buying programme to speculate about who will succeed chairman Ben Bernanke when his second term finishes at the end of January 2014. We haven’t had the opportunity to pick a Fed chair since before the [...]
Bumi slips out of FTSE 250 after index kicks out troubled miner September 11, 2013 COALMINER Bumi yesterday slipped out of the FTSE 250 at the index’s quarterly review, bringing an end to a deeply unsuccessful spell in the top tiers of British business. The company will now became a member of the FTSE Small Cap index. Set up in 2010 by Nat Rothschild, Bumi has endured a turbulent existence [...]
Sports Direct smashes forecasts September 11, 2013 SPORTS DIRECT, Britain’s biggest sporting goods retailer, posted a big rise in sales yesterday as shoppers snapped up its cut-price deals and helped sustain a strong run for the shares that pushed the firm into the FTSE 100 index in this week’s reshuffle. The company, controlled by billionaire Newcastle United owner Mike Ashley, said trading [...]
Tokyo 2020 likely to be economic non-event September 10, 2013 Economic confidence in Japan has seen a boost from the announcement that Tokyo will host the Olympic Games in 2020. That enthusiasm could be misplaced, according to Capital Economics. Marcel Thieliant, Capital Economics: Tokyo’s hosting of the 2020 Olympic Games is unlikely to provide any material contribution to economic growth in Japan. Overall spending on [...]
Mike Ashley’s Sports Direct on track for FTSE 100 promotion September 8, 2013 THE FTSE 100 is set to become a more colourful place this week with Sports Direct – controlled by Newcastle United owner Mike Ashley – on track for promotion to Britain’s leading share index. Many pension funds that track the FTSE 100 will then be obliged to buy shares in the company, which has both [...]