Yell sinks despite rescue plan July 14, 2011 YELL crashed more than 20 per cent yesterday after the announcement of its digital turnaround plan and a lack of clarification on its debt pile left investors cold. If successful, the four year strategy would see Yell return to growth by 2015, with its emphasis on providing digital services to local markets. The drop wiped [...]
Yell surges on ad deal with Microsoft July 12, 2011 YELL shares surged yesterday after the Yellow Pages publisher announced a tie-up with Microsoft to boost the exposure of its online and mobile advertising. The group’s shares, which have fallen by around half of their value since the beginning of the year gained more than 15 per cent during trading yesterday. The embattled firm, which [...]
CITY MOVES | WHO’S SWITCHING JOBS July 11, 2011 Begbies Traynor Group The professional services consultancy has appointed Mark Fry as head of insolvency and restructuring. Fry joined the group in 2005 as a partner in its Insolvency and Restructuring division, rising to become both managing partner of the group’s London office and regional managing partner for London and the South East. His recent [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 3, 2011 FINANCIAL TIMES JLR IN 50 PER CENT BOOST TO SPENDING Jaguar Land Rover is to boost its spending on products by 50 per cent from about £1bn to £1.5bn as the UK’s largest premium carmaker prepares to launch the most important vehicle since Tata Motors bought the group from Ford Motor three years ago. CHI-X [...]
GREECE VOTES TO CUT ITS DEFICIT June 30, 2011 MARKETS rallied after the Greek parliament fell into line yesterday and voted through the budget laws needed to qualify for a €12bn (£10.8bn) aid tranche. The result means that Greece has passed the last hurdle standing in the way of the rescue funds that prevent a disorderly default in the next month. The aid will [...]
Jane Norman pre-pack deal sparks a row June 28, 2011 ADMINISTRATORS to struggling retailer Jane Norman yesterday sold off 33 stores in a controversial pre-pack administration that has refueled the debate into this route for insolvent companies. Edinburgh Woollen Mills, which was lined up as a buyer by PwC before the company was handed over to its administrators Zolfo Cooper, has agreed to buy a [...]
CRUNCH TIME FOR THE HIGH STREET June 26, 2011 FASHION retailer Jane Norman was on the brink of collapse this weekend, after all of its stores across the UK were closed for business, signalling imminent insolvency. Zolfo Cooper, the US accounting firm, has been lined up to put the distressed fashion retailer into a pre-pack administration, which could be approved in court as soon [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 19, 2011 FINANCIAL TIMES SMALL AND MID-CAP BROKERS SHINE IN ANNUAL RANKINGS Small and mid-cap brokers have outshone their larger competitors in stockpicking, according to the latest FT/StarMine rankings. Of the top 10 stock-pickers in the UK and Ireland – led by Richard Slape, energy analyst at Canaccord Genuity with his call on Rockhopper Exploration – seven [...]
Why Greece is the new Lehman Bros June 16, 2011 IT is a tale of two economies and two very different responses to catastrophe. Last week, the Icelandic government borrowed $1bn on the bond markets, paying only just over 3 per cent interest. It is an astonishing recovery for a country that just two years ago was written off as a bankrupt, discredited pariah, its [...]
Bank depositors lose cash June 16, 2011 A HANDFUL of depositors in a Portsmouth-based bank, which was dissolved yesterday, will be the first to lose some of their savings, days after the chancellor signalled he would get tough on depositors. Southsea Mortgage and Investment went under, leaving 250 savers asking for their money back from the government’s guarantee scheme. The Financial Services [...]