Asos gets boost from overseas sales July 14, 2011 ONLINE fashion retailer Asos saw sales soar in the first quarter, but boss Nick Robertson dismissed speculation that the company was being seriously eyed as a takeover target. Asos, which targets young trendy customers, said its retail sales increased 69 per cent to £104.2m in the three months to 30 June. International sales soared 160 [...]
Charter shares tank after profit warning June 20, 2011 SHARES in Charter International, the tool and equipment maker, fell by as much as 28 per cent yesterday after it issued a profit warning. Charter said full-year results would likely fall short of expectations, hurt by weakness at its core welding tools unit ESAB. The firm said rising input costs combined with more competition hurt [...]
Charter shares tank after profit warning June 20, 2011 SHARES in Charter International, the tool and equipment maker, fell by as much as 28 per cent yesterday after it issued a profit warning. Charter said full-year results would likely fall short of expectations, hurt by weakness at its core welding tools unit ESAB. The firm said rising input costs combined with more competition hurt [...]
Frankie won’t be Blue June 2, 2011 FINDING the winner of the Investec Oaks is no easy task, as Look Here proved when surprising everyone at 33/1 a couple of years ago. This afternoon’s renewal (4.05pm) is no different as a number of the fillies have the potential, and in some cases the breeding, to win it, but haven’t shown enough on [...]
Total sells its UK forecourts June 21, 2011 GERALD RONSON’S service station business is among a consortium that has snapped up 810 UK outlets from French oil giant Total in a deal worth hundreds of millions of pounds, the firms announced yesterday. Ronson’s Snax 24 business, which he set up 45 years ago, has teamed up with Investec and new investment firm Grovepoint [...]
CITY MOVES | WHO’S SWITCHING JOBS May 26, 2011 JP Morgan Asset Management Professor Paul Sweeting has been appointed as European head of the Strategic Investment Advisory Group for JP Morgan Asset Management. Based in London, Sweeting will advise the firm’s European institutional clients on asset allocation, risk management and investment strategies. Sweeting previously held positions at Munich Reinsurance Company and Fidelity Investments International. [...]
Weatherford to pay BP $75m for Gulf spill June 21, 2011 Swiss-based oil services group Weatherford International, which provided equipment used in the doomed Macondo well, agreed to pay BP Plc $75m toward the cost of the Gulf of Mexico oil spill. BP has agreed to indemnify Weatherford in relation to economic claims from people affected from the spill and environmental damage. However, the settlement – [...]
BEST OF THE BROKERS June 20, 2011 PREMIER FARNELL UBS raises the electronic components distributor to “neutral” after weak first quarter results now leave less room for valuation downside. US slowdown and company-specific problems in Asia Pacific, where organic sales growth slowed from 11 per cent in the fourth quarter to fivr per cent, lead the broker to think growth will struggle [...]
Go-Ahead ups forecasts on high demand June 23, 2011 BUS and train operator Go-Ahead said yesterday that its profit had been given a further boost as more motorists take public transport because of fuel price rises. Go-Ahead, which has a fleet of 3,800 buses and is part of a joint venture responsible for Southern, Southeastern and London Midland rail services, said its buses represented [...]
PADDY POWER BLOWS £11K DERBY WINNINGS OVER THREE-DAY STAG June 5, 2011 THE QUEEN was not amused by her loss at the Investec Derby, for which City A.M. proudly served as the official newspaper. But Paddy Power, the public face of the bookmaker of the same name, was still celebrating on Sunday afternoon after winning £11,000 the previous day. Power told his wife Jane he would make [...]