GlaxoSmithKline considers £17bn HIV wonder drugs split with Viiv Healthcare IPO October 22, 2014 Pharma giant GlaxoSmithKline (GSK) is considering floating its HIV drugs business in a move that would see Viiv Healthcare among the top 40 companies in the FTSE 100 with a market valuation of up to £17bn. Chief executive Andrew Witty told reporters yesterday: “In line with our commitment to identifying ways to realise shareholder value, [...]
Intertek leads the way as FTSE buoyed by data – London Report October 29, 2014 BRITAIN’S top equity index yesterday rose to its highest level in nearly three weeks on the expectation that the US Federal Reserve would signal that it was in no rush to raise interest rates. However, late last night – after the London close – investors elsewhere in the world were betting that a US rate [...]
M&S hires Lloyds director to board December 17, 2013 Marks and Spencer has hired Alison Brittain, one of the most senior women in the banking industry, as a non-executive director. Brittain, who is currently head of retail banking at Lloyds, will help bring her experience of running one of the UK’s biggest branch networks to the group, which has suffered a decline in clothing [...]
Indian summer hurts shop sales in September October 7, 2014 HIGH street sales growth came to a grinding halt last month for the first time since February after Britain’s Indian summer put shoppers off stocking up on winter clothing, according to new research out today. Accountancy firm BDO’s monthly high street sales tracker shows sales dipped by 2.9 per cent in September, ending the first [...]
Tesco rushes in new finance boss September 23, 2014 TESCO has rushed in its new finance director Alan Stewart to start two months earlier than planned after a £250m profit error and new industry data yesterday showing a slide in quarterly sales plunged the retailer into further turmoil. The retailer, which had billions of pounds knocked off its share price after revealing the error [...]
Next overtakes M&S as CEO delivers economic warning March 20, 2014 High street fashion store next had, in its own words, a great year last year. In a landmark moment, it's overtaken Marks and Spencer as the biggest clothes retailer by profits in the UK. It's upped its sales growth forecast significantly – from between one and four per cent to between four and eight per cent. [...]
And the nominees are… September 7, 2014 TOMORROW: ACCOUNTANCY FIRM OF THE YEAR ALDI The German discounter has taken the British high street by storm. Aldi now has a 4.6 per cent share of the UK market, up more than one third in a year due to consumers choosing its quality and low prices over the more established retailers. It has even [...]
Industry leaders arrive for business summit January 21, 2014 BUSINESS leaders and politicians are descending on the Swiss town of Davos this week for the annual meeting of the World Economic Forum, one of the most high-profile networking events of the year. Topics that will certainly be on the agenda include everything from the worrisome slowdown in emerging markets to uncertainty over the tapering [...]
SSP share price rises as travel giant delivers jump in sales following IPO August 8, 2014 Food concessions giant SSP posted a 3.5 per cent rise in quarterly sales yesterday in its first set of results since floating last month. The group, which owns Upper Crust and also runs travel outlets for retailers such as Marks & Spencer and Starbucks, said like-for-like sales rose by 3.3 per cent in the three [...]
Tesco’s week from hell: £250m black hole, 16 per cent fall in share price since Friday September 26, 2014 Was this the week Tesco hit rock bottom? Having discovered a huge black hole in its finances, shares have fallen from Friday's closing price of 229.6p, to a low of 191.23p in early morning trading today. That's a fall of almost 17 per cent. Here's a handy, cut-out-and-keep guide to Tesco's week from hell Monday [...]