What M&S’s new boss Steve Rowe can learn from Sir Alex Ferguson about crafting a winning business January 11, 2016 "It's a bit like being asked to be England football manager… you don’t turn it down.” These were the words of one analyst when Marc Bolland, soon to be former Marks & Spencer chief executive, took the retail hot seat back in 2009. Now, like so many England managers, he departs with a sense that adversity [...]
B&G makes giant acquisition in American frozen foods industry September 4, 2015 B&G FOODS is about to make a giant investment. The American snack food company said yesterday that it would buy General Mills’s Green Giant frozen foods business, as well as its Le Sueur canned vegetable brand, for about $765m (£501m), in order to broaden its distribution network and expand into the frozen foods market. Growth in [...]
ECB chief economist Peter Praet: If you print enough money, you will always get inflation January 6, 2016 The European Central Bank's chief economist has staunchly defended its asset purchase programme, arguing that it will eventually increase inflation in the Eurozone. "If you print enough money, you will always get inflation. Always," Peter Praet said in an interview with Belgian magazine Knack. However, he added: But if oil and commodities prices tumble, it is [...]
2015 in review: The best crowdfunded projects, gadgets, investments and companies of the year include beer, burritos, gifs and Greece December 31, 2015 2015 was the year that crowdfunding really took off. Whether it was serious equity funding for a slice of the business or a kickstarter for the latest gadget giving people a reward in return, there were plenty of options. Here, we’ve rounded up some of our favourites this year, including beer, burritos, gifs and more. 1. The [...]
Bidding war for Telecity as rival offers £2.31bn May 7, 2015 DATA centre firm TelecityGroup received surprise takeover interest from US rival Equinix yesterday. Telecity has already been deep into talks to merge with Dutch counterpart Interxion, which pushed any other would-be buyers to declare their hands. Equinix’s £2.31bn bid sent Telecity’s share price soaring 21.7 per cent on the day. It follows the 15 per [...]
EE’s Olaf Swantee plans to boost UK business by billions with push into business-to-business 4G October 28, 2015 EE is flirting more with the business-to-business sector, as the telecoms giant claims that better wifi could boost the UK’s companies by billions of pounds. The company’s chief executive Olaf Swantee said to City A.M. that this is an important growth sector for EE: We’ve shown what 4G can do for consumers, and now businesses [...]
Celebrity vineyards: Who makes the best wine, Donald Trump, Cliff Richard or Angelina Jolie? April 29, 2016 Feel depressed about the US presidential election? Need a stiff glass of something to steel yourself against the carnival of bigotry unfolding in the Republican ranks? Well, why not indulge in a large glass of Trump? I’m afraid it’s true: Donald Trump is a winemaker. Down in Virginia there is a 200 acre winery that [...]
Google splashes $60m on Chinese AI startup Mobvoi signalling return to China after five years October 20, 2015 Google has splashed a reported $60m on a Chinese startup specialising in Artificial Intelligence, taking a minority stake in the company. Mobvoi, founded in 2012 by former Google employees, makes Chinese language voice recognition software which is available on Android, Android Wear, and Google Glass devices as well as iOS and Wechat. While the exact amount has not [...]
Weaker French demand weighs on Kingfisher September 16, 2015 SHARES in Kingfisher took a hit yesterday after the B&Q and Castorama owner said weaker-than-expected demand in France offset a stronger sales performance in Britain. The DIY giant, which also owns Brico Depot and Screwfix, said adjusted pre-tax profits fell by 2.3 per cent to £384m in the six months to 1 August, blaming adverse [...]
B&M covered for flotation June 2, 2014 HIGH street stalwart B&M Retail is on course to defy growing scepticism in the new issues market after getting commitments from investors to back a stock market debut. The firm is understood to have covered its books on the offering, which came under renewed focus after retailer Fat Face scrapped a share issue last month. [...]