John Lewis takings down from this time last year November 27, 2011 E-TILLS ARE RINGING FOR CYBER MONDAY JOHN LEWIS said retail sales fell 1.2 per cent last week compared with the same week last year, as consumers continue to face severe pressure from high inflation and muted wage growth. The department store group posted sales for the week ending 26 November of £98.7m, jumping 15.9 per [...]
LORD MAYOR STEPS UP SECURITY FOR AMBASSADORS’ RECEPTIONS November 24, 2011 IT HAD to be the Queen. “No-one else has that level of police presence,” said one City observer when he noted a convoy of four police motorbikes and two impressive cars making its way towards the Walbrook Building in stately fashion. But no – it was Lord Mayor David Wootton, who had stepped up his [...]
Compass sees earnings lift on US success November 23, 2011 COMPASS Group, the world’s biggest caterer, has seen its full-year profits rise after fattening up its US business with new contract wins, which helped offset tough conditions in Europe and Japan. The caterer, which provides meals for everyone from schoolchildren to members of the Chicago White Sox baseball team, posted a five per cent rise [...]
Plan your IT systems to avoid being left behind November 23, 2011 AS THE second phase of the Markets in Financial Instruments Directive (Mifid) takes shape, it reinforces the role of IT solutions in aiding institutions and brokerages to achieve compliance without losing their competitive edge. The original Mifid directive covered pre and post trade requirements for shares traded on regulated markets, but new regulations will go [...]
Compass profits up on emerging markets November 23, 2011 Compass Group, the world’s biggest caterer, has posted a rise in full-year profit and given an upbeat view of its prospects after growth in North America and emerging markets helped offset tough economic conditions in Europe and the earthquake in Japan. Compass, which provides meals for office workers, members of the armed forces and schoolchildren [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 22, 2011 FINANCIAL TIMES NOMURA STEPS UP ASSET SALE PLANS Nomura has approached big private equity firms about the possible sale of domestic businesses, including its real estate arm, as the Japanese bank moves to shore up its capital buffers. Several people familiar with the preliminary talks with parties including KKR and TPG said the bank was [...]
Big Yellow sees rise in storage earnings November 22, 2011 SELF-STORAGE firm Big Yellow Group expects 15-20 per cent earnings growth for the year on continued demand for its stores from London and the south east, its chief executive said yesterday. The British company, which helps people and businesses store merchandise, goods, equipment and furniture while moving homes and offices, also expects higher demand from [...]
NY police avert terrorist plan November 20, 2011 NEW York officials said yesterday that police have arrested a man trying to build a pipe bomb with instructions from an al Qaeda magazine, which he planned to use against US soldiers. The suspect – identified as Jose Pimentel, 27 – was charged with three terrorism-related counts and two other counts. Beyond soldiers, his intended [...]
The captain of industry who says the UK needs to be more like Asia November 20, 2011 FROM the CBI’s offices on the second floor of the Centre Point tower, you get a great view of the construction site that will eventually become the Tottenham Court Road Crossrail station. It is fitting that the CBI, which was one of the railway’s biggest supporters, is so close to the action, and a reminder [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 17, 2011 FINANCIAL TIMES AUCTION OF ICELAND FOODS BESET BY DELAYS The auction of Iceland Foods, the frozen food retailer, is facing unexpected delays, with second-round bids now not expected to be lodged until the new year. Work on second-round bids for Iceland Foods – put on the block in May by its majority Icelandic owners with [...]