Silicon Roundabout costs are on the rise: East end property tech bubble pricing out small businesses March 4, 2015 The property tech bubble in London’s east end is pricing small businesses out of the market. Shoreditch, Clerkenwell, Aldgate and Whitechapel: over the last decade these places have become the breeding ground for media and tech start-ups, as well as larger blue-chip companies looking to grow their digital operations. However, East London’s success at [...]
Investors toast new pub boss sending Punch shares higher March 3, 2015 PUB OPERATOR Punch Taverns announced the appointment of its new chief executive yesterday, giving Duncan Garrood the top job. Investors seemingly approved the selection, with shares closing up 5.73 per cent to 92.25p. The news of the appointment comes as the indebted company has undergone two years of restructuring, which saw share prices fall 73 [...]
Deutsche Bank’s client growth helps firm leap up adviser table March 2, 2015 DEUTSCHE Bank was the big winner in the first-quarter adviser rankings making gains in both the stockbroker and financial adviser categories in terms of client market capitalisation, according to figures from Adviser Rankings. The Frankfurt-based investment bank, which boasts clients such as British American Tobacco, Unilever and Greene King, stood out as the biggest climber [...]
Unilever buying Ren Skincare to boost its personal care business March 2, 2015 UNILEVER said yesterday it has agreed to buy UK cosmetics brand Ren Skincare for an undisclosed price as part of its strategy to bolster its personal care business. Ren, launched 15 years ago by advertising executives Antony Buck and Robert Calcraft, sells high-end skincare products that use only natural ingredients in over 50 countries including [...]
Last year Switzerland filed more patent applications than the UK February 26, 2015 More indication of the UK's woeful attitude to intellectual property: data by the European Patents Office has shown that in 2014, more companies in Switzerland (population: eight million) filed for patents than ones in the UK (population: 64.1m). In fact, Germany, France and the Netherlands all filed more applications. Although to be fair, even Germany's [...]
Nestle growth slows in 2014 but dividend gets a hike February 19, 2015 The figures Profits were up by 4.4bn Swiss francs (£3bn) to 14.5bn Swiss francs (£10bn), but sales growth slipped. Organic sales growth for 2014 came in at 4.5 per cent, just below targets of five to six per cent for the second year running, however, it's still targeting five per cent growth for 2015. Sales fell 0.6 [...]
New Carlsberg CEO seeks cure for hangover February 18, 2015 DANISH brewing giant Carlsberg yesterday appointed a new chief executive, but warned that ongoing geopolitical problems in Russia and Ukraine would hit revenues again this year. Cees ‘t Hart, the Dutch CEO of dairy firm FrieslandCampina, will take the reins at Carlsberg in June. He will replace incumbent Jorgen Buhl Rasmussen, who turns 60 this [...]
FTSE up on hope that Bank will keep rates low – London Report February 17, 2015 Britain’s top share index yesterday climbed to a five-month high on expectations that the Bank of England would keep interest rates down, after data showed inflation sank to a record low in January. The annual inflation rate fell to 0.3 per cent last month from 0.5 per cent in December, official data showed, largely reflecting [...]
Tesco to cut up to 10,000 jobs amid overhaul February 15, 2015 Tesco could cut up to 10,000 jobs as part of a radical overhaul by chief executive Dave Lewis aimed at halting a slide in profits. Britain’s biggest supermarket, which employs around 314,000 staff, announced plans last month to save £250m a year by axing 43 unprofitable stores, shelving 49 new projects and closing its [...]
Tesco pays out £1.2m to former chief executive February 3, 2015 TESCO has reluctantly agreed to hand over more than £2m in payments withheld from its former chief executive and former chief financial officer in the wake of last year’s shock £263m profit scandal. Britain’s biggest supermarket said yesterday that it will pay Philip Clarke £1.22m and Laurie McIlwee £970,880 in “liquidated damages” after lifting suspensions [...]