Emerging markets boost RSA figures November 4, 2010 GROWTH in emerging markets helped revenue at RSA Insurance Group jump by just under 10 per cent in the third quarter. Net written premiums rose to £5.5bn in the nine months to 30 September, up from £5.03bn a year earlier. The insurer announced strong numbers in emerging markets with net written premiums up 19 per [...]
Morrison sales in slim rise November 4, 2010 Wm Morrison Supermarkets met forecasts with a modest rise in third-quarter underlying sales as the benefits from a small rise in food price inflation were held back by subdued consumer spending. Britain’s fourth-biggest grocer said sales at stores open over a year rose 1.3 per cent, excluding petrol and VAT sales tax, in the 13 [...]
Fears over consumer climate send retailers and FTSE down November 3, 2010 BRITAIN’S top share index closed lower yesterday, with retailers weak as Next posted falling sales, while banks gained ground after Lloyds Banking Group poached Santander UK’s head as its new CEO. Investors were reluctant to take big positions ahead of a Federal Reserve decision on further monetary policy easing later yesterday. Markets are pricing in [...]
Thorntons unveils new boss November 3, 2010 CHOCOLATE retailer Thorntons has appointed Caffé Nero managing director Jonathan Hart as its new chief executive. Hart will take up his post on 4 January and will be charged with restoring momentum to the confectioner’s high street operations, which have suffered from falling sales in recent months. During five years with Caffé Nero, he doubled [...]
ASDA appoints new top exec November 1, 2010 Asda yesterday announced that experienced retailer Simon King will join the WalMart-owned supermarket business as its new chief operating officer in January 2011. He is currently the chief executive of supermarket and hypermarket operator Panda Retail, a subsidiary of The Savola Group, based in Saudi Arabia. Until 2009 he was chief of Tesco Kipa in [...]
Three cheers for the stars of the Square Mile October 28, 2010 LAST night was truly an exciting and exceptional occasion: City A.M.’s inaugural awards celebrating the best and brightest of London’s business, financial and investment communities. Our inaugural awards ceremony saw more than 450 guests in their finery roll up at the Grange Hotel at St Pauls. Our winners, unique in that each was initially chosen [...]
Webb unveils pension plans October 27, 2010 INDUSTRY breathed a sigh of relief yesterday, after the government watered down plans to boost the number of private pension savers. The government is still pressing ahead with plans to enrol millions of workers into a pension scheme automatically from 2012 onwards, but made several concessions following intense lobbying from businesses. By 2017, the vast [...]
AUTO-ENROLMENT October 27, 2010 Q.HOW MUCH DOES SOMEONE HAVE TO EARN TO BE ENROLED? A.The earnings threshold for auto-enrolment into the National Employment Savings Trust (NEST) will be the same as the income tax threshold, currently £7,475 (much higher than the £5,035 level mooted by the last government). But Peter Woods, pensions partner at PwC, points out the coalition [...]
TONIGHT WILL BE A NIGHT FOR HEARTY CELEBRATION October 27, 2010 THIS evening will see 450 guests in their finery roll up at the Grange hotel at St Paul’s, as City A.M. proudly hosts its first ever awards ceremony honouring the UK’s business stars and City luminaries. The award winners will come from a diverse range of sectors, from investment to retail banking, fund management and [...]
Tesco launches barcode app October 26, 2010 TESCO has added a barcode reader to its Groceries iPhone app that can add items to a customer’s online home delivery order. Customers can scan any grocery item and add it to a home delivery order instantly. The barcode reader, which was added to the existing Tesco Groceries app available on the iPhone yesterday, is [...]