Dulux boss is off with stress September 18, 2012 TON Buchner, the chief executive of Dulux maker Akzo Nobel, is taking a leave of absence for several weeks due to fatigue. Buchner, who has been in post since April, will return to work in the first half of October. Chief financial officer Keith Nichols will run the Dutch firm temporarily.
Laura Ashley plots expansion in China as online sales surge 21pc September 12, 2012 LAURA Ashley yesterday posted a 13.7 per cent increase in pre-tax profit, bucking the negative trend on the UK high street, as it eyes up expansion in China. UK like-for-like sales growth in the company’s 211 stores was 3.9 per cent over the half year to 28 July, while total retail sales were up 6.1 [...]
We need chutzpah as well as cuts to restore British competitiveness September 12, 2012 WITH unemployment falling over the last six months, and over 1m private sector jobs created under the coalition, it is not all bad news on the economy. There is no reason for Britons to be defeatist. We’re still in a rut, but there is a way out. The key thing is not to sacrifice long-term [...]
Japan Airlines raises $8.5bn in top Asian float September 10, 2012 JAPAN Airlines, the carrier nationalised by the Japanese government in 2010, yesterday secured top price for its initial public offering, making it the second biggest float of the year after Facebook. The offering, which was six times oversubscribed by investors, was priced at ¥3,790 (£30.24), the upper limit of a range between ¥3,500 and ¥3,790. [...]
FTSE 100 opens flat as investors bide time September 10, 2012 The leading share index opened modestly lower this morning, as investors were cautious ahead of key Eurozone and US Federal Reserve meetings this week. A selection of miners and retailers led the index up. Specialist engineering company Lamprell added nearly five per cent in early deals on news that it signed a joint venture deal [...]
A nice rally while it lasted: Wall St analysts call the top of the market September 9, 2012 AT the start of the historically weakest month for equities there are plenty of reasons to believe stocks may be just about reaching a top – at least in the short term. The S&P 500 has surged 14 per cent this year and is at its highest level in more than four years. Not counting [...]
Obama isn’t working: He won’t win without a stronger message on jobs September 5, 2012 AS BARACK Obama pinned his electoral hopes on Bill Clinton’s rhetorical prowess at the Democratic convention last night, Mitt Romney is channelling Ronald Reagan by asking voters: “Are you better off now than you were four years ago?” It’s certainly throwback week on the campaign trail. But, with two landslide victories, Reagan may provide Romney [...]
Jenkins set to cut bad products September 2, 2012 BARCLAYS could look to cut unprofitable business lines in its investment banking and other arms under a structural review planned by new boss Antony Jenkins. The incoming chief executive has pledged to keep the investment bank intact and said he values the universal banking model. But his background in commercial and retail banking means some [...]
City Moves Who’s switching jobs September 2, 2012 Post Office The mail operator has announced that Sue Barton is to join the executive committee as strategy director. Barton’s experience includes extensive time within postal consultancy at Accenture, where she has worked with many of the leading international postal organisations providing support and advice. Laxfield Capital The debt origination and loan manager has announced [...]
APR profits up as CFO departs August 30, 2012 Temporary power specialist APR Energy yesterday posted a sharp jump in revenue for the first half of this year. Revenue was up by 162 per cent to $155m (£98m) over the six months to 30 June, while pre-tax losses narrowed to $1.9m from $32.3m over the previous year. The results come as chief financial officer [...]