Pandora lists in strong $2bn market debut October 5, 2010 Pandora, the Danish jeweller, made a strong debut in one of Europe’s largest bourse listings this year, worth up to $2.1bn (£1.3bn), as investors bought into prospects for its main product – charm bracelets. Analysts said Pandora’s high growth and strong margins made its initial public offering (IPO) attractive to investors hungry for new stock [...]
JP Morgan analyst in hot water after Asda meeting February 22, 2010 A JP Morgan analyst has been suspended after allegedly gate-crashing a private Asda supplier meeting. Rickin Thakrar, in his mid-20s, wrote an explosive research note, revealing management thought stores had become “boring”, despite being explicitly banned from attending the event. He gleaned private information about the firm’s plans just days before it released its results. [...]
Maersk lifts forecast after posting profit August 18, 2010 MOLLER-MAERSK, the shipping and oil conglomerate, raised its outlook for the year yesterday after swinging back into half-year profit, on the back of increased volumes and a sharp rise in the price of crude oil. The Danish group said it now stands to make in excess of $4bn (£2.6bn) after tax in 2010, following a [...]
Maersk lifts forecast after posting profit August 18, 2010 MOLLER-MAERSK, the shipping and oil conglomerate, raised its outlook for the year yesterday after swinging back into half-year profit, on the back of increased volumes and a sharp rise in the price of crude oil. The Danish group said it now stands to make in excess of $4bn (£2.6bn) after tax in 2010, following a [...]
Versatile Yardy in no rush to gatecrash England Test side July 18, 2010 ALL-ROUNDER Michael Yardy admits he is not ready to break into the Test arena despite his promising one-day form. The Sussex captain has established himself as a key member of England’s limited-overs set-up, helping the Three Lions to World Twenty20 success and a 50-over series victory over Australia so far this summer. But unlike fellow [...]
Strict Strauss lays down law to troops August 17, 2010 CAPTAIN Andrew Strauss has warned his England troops of their off-the-field responsibilities after coming close to losing Graeme Swann for today’s third Test with Pakistan at The Oval. Spinner Swann missed Monday’s practice session after appearing in a Nottingham court to answer a drink-driving charge. Swann told the court he had returned from birthday celebrations [...]
Asda ramps up supermarket price war January 5, 2010 ASDA yesterday upped the ante in the supermarket wars by announcing its biggest round of price cuts in a decade. The supermarket said it was slashing the price of one in five of its products by an average of 13 per cent. The move comes after Tesco last week promised customer savings of more than [...]
McBride hit by raw price surge June 24, 2010 OWN-BRAND personal care products supplier McBride yesterday warned that its raw material costs are set to soar next year and that there would be an inevitable delay before the increase can be passed on to its customers. McBride, which counts supermarket groups Asda and Tesco among its UK clients, went some way towards soothing investors [...]
Amazon set to sell groceries July 7, 2010 Ocado’s £1.1bn float was dealt another blow yesterday when internet giant Amazon launched a competing grocery delivery business. Amazon has long toyed with the idea of branching into food delivery, and already does so in the US and Germany, but the timing of the decision heaps pressure on Ocado. Analysts have already questioned the value [...]
Maersk lifts 2010 guidance July 8, 2010 DANISH group Moller-Maersk upgraded its earnings guidance for the full-year, yesterday saying its container shipping business had rebounded faster than expected. “The upgrade is due to a combination of (freight) rates and cost reductions,” chief executive Nils Smedegaard Andersen said. “We have taken $3bn out of the cost base on an annual basis, and that [...]