Defensive shares lift FTSE but banks and miners weak January 26, 2010 BRITAIN’S leading share index added 0.3 per cent yesterday, as support for defensive issues, and a modest early rally on Wall Street, offset weakness in heavyweight miners and banks. At the close, the FTSE 100 index was up 16.54 points at 5,276.85, snapping a four-session losing streak, having earlier reached an intraday low for the [...]
Potential buyers line up for retail chain Adams January 25, 2010 THE troubled Adams childrenswear retail chain has received approaches from a number of potential buyers, according to administrators trying to save the company as a going concern. Insolvency firm MCR yesterday confirmed the assets of Adams’ parent company, JS Childrenswear, were up for sale. “We are already seeing significant interest in the business and assets [...]
An oath can’t make lawyers more honest January 25, 2010 BIG changes are afoot in the legal world, not least those arising from the reforms which the profession is going to see under the Legal Services Act. This will include the introduction of so-called Tesco Law, which will see non-lawyers increasingly involved in the provision of legal services. In the face of this brave new [...]
Adams in strife as parent calls in the administrator January 24, 2010 Childrenswear chain Adams has gone in to administration for the second time in little more than a year, putting 2,000 jobs at risk. Insolvency firm MCR was called in on Friday to Adams’ parent company, JS Childrenswear. MCR partner Paul Clark said “all options” were being considered for the business, which has 120 stores across [...]
Morrisons is Xmas winner as sales surge January 21, 2010 SUPERMARKET chain WM Morrison posted the biggest rise in Christmas sales among Britain’s top four grocers – but urged caution about 2010. Sales at stores open at least a year rose 6.5 per cent, excluding petrol and VAT, in the six weeks to 3 January. Total revenue rose by 10.8 per cent for the period. [...]
Morrison beats rivals with festive sales boost January 21, 2010 SUPERMARKET chain Morrison posted the biggest rise in Christmas sales among Britain’s top four grocers – but urged caution about 2010. Sales at stores open at least a year rose 6.5 per cent, excluding petrol and VAT, in the six weeks to 3 January. Total revenue rose by 10.8 per cent for the period. Morrison, [...]
Blackstone to launch a bank January 20, 2010 A NEW retail bank to be backed by US private equity group Blackstone is set to go up against Virgin Money and analyst Sandy Chen’s Walton & Co bank later this year in the race to snap up the assets of Northern Rock, RBS and Lloyds Banking Group. Blackstone has applied to the Financial Services [...]
Morrisons to trump its retail rivals January 17, 2010 WM MORRISON supermarkets is expected to announce outstanding trading results this week as it emerges from the Christmas period outperforming its rivals. Like-for-like sales of the UK’s fourth biggest supermarket chain are predicted to have improved seven per cent on the previous year, adding to the impressive turnaround overseen by soon-to-depart chief executive Marc Bolland. Bolland [...]
Banks and miners lift FTSE but retail shares take a dive January 14, 2010 STRENGTH in miners helped Britain’s top share index to a 0.5 per cent rise by yesterday’s close after soaring output figures from Rio Tinto boosted the sector, but retailers fell on weak trading updates. The FTSE 100 ended 24.72 points higher at 5,498.20 after falling for two days, pressured by China’s decision to tighten banks’ [...]
BEST OF THE BROKERS January 14, 2010 XSTRATA Investec Securities yesterday initiated coverage on what it called “the predator of the mining industry”. The broker put a “buy” recommendation on the stock, saying that looking beyond Xstrata’s M&A capabilities, the firm has excellent organic growth prospects and the best leverage of its peer group to rising commodity prices. BOVIS HOMES Panmure Gordon [...]