Firms want new code of practice June 24, 2009 A clutch of the UK’s largest firms have called for the code of best practice covering boardrooms to be loosened, to allow them to opt out of guidelines. Companies including British Airways, Marks & Spencer (M&S) and Cable & Wireless want a change to the code’s ethos of “comply or explain” because they believe investors [...]
Icap looks to grow abroad November 17, 2009 ICAP, the interdealer broker founded by Conservative Party treasurer Michael Spencer, said it would accelerate its international expansion after a dip in first half profit. Icap, the world’s biggest interdealer broker, is one of the few companies doing worse than last year, with pretax profit slipping five per cent to £166m. Icap, like its rivals, [...]
M&S LEADS HIGH STREET RECOVERY January 4, 2010 HIGH street bellwether Marks & Spencer is this week expected to report its first sales growth in two years, boosting hopes that British consumers have cast aside their gloom and started spending again. The retail giant will update the market on Wednesday on how it fared over Christmas, with analysts expecting M&S to post like-for-like [...]
M&S offers penny delivery November 15, 2009 Marks & Spencer kick-started its Christmas online sales campaign today by offering shoppers delivery for a penny. The penny delivery deal, which only lasts until Saturday, is part of the retailer’s 125th birthday celebrations but is also likely to boost online sales. M&S usually charges £3.50 for UK standard delivery.
Loopsign brothers bank dividend November 17, 2009 Ian and Richard Livingston, the billionaire brothers who own David Lloyd Leisure, received £242m each in dividends for the year to the end of September 2008, according to accounts filed by their property firm Loopsign. However the firm, which owns the Marks & Spencer building on Baker Street and land in Russia and the Turks, [...]
Tesco takes the gloves off as Christmas price war hots up December 6, 2009 Britain’s biggest retailer Tesco has launched its most aggressive Christmas discount drive, designed to blow its upmarket rivals out of the water. The supermarket giant is slashing the prices of more than 200 products in its Finest range in a bid to stop shoppers defecting to Waitrose and Marks & Spencer for luxury food treats. [...]
Winser to cut her cloth in provocative new role November 29, 2009 KIM Winser, Britain’s fashion darling who oversaw the rehabilitation of Pringle and revived trench-coat maker Aquascutum, has been hired as a senior adviser by private equity titan 3i. Winser, who quit in May as chief executive of the raincoat firm after her staged management buyout collapsed, will advise 3i on its retail and consumer investments. [...]
M&S launches first ever bond buy-back plan November 17, 2009 MARKS and Spencer yesterday announced it would be embarking on its first tender offer to shareholders in its 125-year history. The retail bellwether said it plans to buy back up to £225m of bonds from investors and issue new debt, becoming the latest firm to take advantage of attractive market conditions. The clothing, homewares and [...]
Miners push FTSE higher but M&S weighs on retail shares January 7, 2010 BRITAIN’S top shares added 0.1 percent yesterday as a rally by heavyweight miners, in tandem with stronger metal prices, offset weakness in energy issues, with retailers upset by a disappointing update from M&S. At the close, the FTSE 100 index was 7.54 points higher at 5,530.04, another 16-month closing high. “It looks like the big [...]
Miners push FTSE higher but M&S weighs on retail shares January 6, 2010 BRITAIN’S top shares added 0.1 percent yesterday as a rally by heavyweight miners, in tandem with stronger metal prices, offset weakness in energy issues, with retailers upset by a disappointing update from M&S. At the close, the FTSE 100 index was 7.54 points higher at 5,530.04, another 16-month closing high. “It looks like the big [...]