ANALYST OF THE YEAR July 31, 2012 TODAY’S shortlists for the third annual City A.M. awards kick off with the five analysts we have shortlisted who epitomise all that is positive about the City. Their independence and capacity to make accurate calls on stock or the wider economy ahead of rivals sets them apart. All have shown an ability to give detailed [...]
Amazon keeps lion’s share of UK market July 23, 2012 ONLINE retail giant Amazon has built up its spot at the top of the UK entertainment market, largely at the expense of supermarket rivals and specialists like HMV, according to research published yesterday. Kantar Worldpanel figures for the 12 weeks to 10 June show that Amazon strengthened its market share by 3.2 percentage points, boosted [...]
Stocks edge upwards on renewed hope for more quantitative easing July 18, 2012 BRITAIN’S benchmark share index closed at its highest level in nearly two weeks yesterday, as hopes of fresh central bank stimulus measures lifted equity markets, although traders said the overall weak economic outlook would limit any future gains. The blue-chip FTSE 100 ended up 56.68 points, or one per cent, at 5,685.77 points – its [...]
Budget grocers up market slice July 17, 2012 BUDGET supermarket chains Aldi and Lidl have raised their market share again, new figures showed yesterday. The latest Kantar Worldpanel survey revealed that Lidl and Aldi have 2.9 per cent each of the UK market, a record for the budget chains, which have been catching their rivals as austerity bites. Among the big four grocers, [...]
Retail bonds boom as ICAP shuts its £50m issue ahead of schedule July 17, 2012 BROKER ICAP yesterday closed its £50m retail bond issue earlier than expected following a strong response from investors. “ICAP has met sufficient demand for the bond,” a spokesman said. They declined to comment on the likelihood of future issues. The bond offered a 5.5 per cent return over a six year period and subscribers could [...]
Retail investors step in where others fear to tread July 16, 2012 With UK institutional shareholders effectively closing the door on supporting money-raising for anything that has the smell of risk about it, like an IPO or new issue for instance, some companies and their financial advisers have been scurrying around to find new methods of raising capital. One such instrument that has been gaining currency in [...]
BEST of the BROKERS July 12, 2012 TESCO Shore Capital has a “hold” rating on the supermarket giant and a target price of 319p. The broker thinks Tesco is making steady progress improving its performance in the UK, but has downgraded full-year earnings forecasts by nine per cent for the firm’s Europe division, 12 per cent for the US and 9.5 per [...]
Tesco’s Higginson to join Poundland as chairman July 11, 2012 Poundland, the discount chain, has hired Tesco executive Andrew Higginson as chairman. Higginson, who was group finance and strategy director at Tesco for 11 years before taking on the role of head of retailing services officially retires from the grocer in september. He was also appointed chairman of N Brown, the catalogue retailer, last week.
Why it must be made much easier to switch bank accounts July 8, 2012 FOR once, Labour has got it half right. It will confirm today that it wants to make it much easier for current account holders to change bank, in a bid to empower consumers and to drastically improve competition in retail banking. The idea is to make switching bank as easy as it is changing mobile [...]
Chairman and chief executive of N Brown exit July 3, 2012 N BROWN announced yesterday that both its long-standing chairman, Lord Alliance of Manchester and chief executive Alan White will be retiring from the catalogue and online shopping group. Lord Alliance, the Liberal Democrat peer and the founder of textile company Coats, said the retailer “had come a long way” since he bought the Manchester-based mail [...]