Waterstones’ new owner cuts full-year losses February 2, 2014 HIGH street bookseller Waterstones has narrowed its losses by more than a third in its first financial year since being snapped up by Russian billionaire Alexander Mamut. Accounts filed last week on Companies House show that pre-tax losses fell to £23m in the year to 27 April from £37.3m the previous year. This includes £5.4m [...]
Morrisons’ tax boss arrested in watchdog probe January 20, 2014 MORRISONS’ treasurer and head of tax is under investigation by the Financial Conduct Authority (FCA) for insider trading ahead of its £216m tie-up with Ocado last year, in yet another blow for the troubled supermarket. Paul Coyle was suspended from his post after being arrested in December in Harrogate by the Yorkshire police in connection [...]
Bottom Line: An orderly handover but uneasy lies any head wearing this crown January 29, 2014 LONG live the new king. Sainsbury’s emphasis is firmly on continuity as it announces its new boss. The choice of commercial director Mike Coupe is the antithesis of a palace coup – every inch a loyal insider, Coupe is closely tied to King’s strategic vision, as demonstrated by his involvement in recent successes like Brand [...]
What the other papers say this morning – 26 February 2014 February 25, 2014 FINANCIAL TIMES Osborne under pressure to cut taxes George Osborne, chancellor, is under pressure from Tory MPs to use next month’s Budget to announce pre-election tax cuts to offset the prospect of a politically damaging rise in interest rates before polling day. One Tory MP said the idea of the Bank of England raising base [...]
The Long View: Three reads for Christmas: Glamour, Cicero’s web and high-tech fiction December 12, 2013 I WROTE at the end of November that the rise of the selfie marked the death of the audience and the rise of an age committed to universal self-expression and performance. This week, even world leaders have been joining in. When David Cameron and Barack Obama were caught taking silly pictures of themselves at Nelson [...]
What the other papers say this morning – 06 January 2014 January 6, 2014 FINANCIAL TIMES Europe to ease reform on bank splits Brussels is set to ease financial reforms so that big European banks are not forced automatically to split lending operations from risky trading. In a draft European Commission proposal, seen by the Financial Times, the separation is no longer mandatory, would be less costly and restrictive [...]
Thai visitors among the UK’s big shopper league this Christmas November 18, 2013 WEALTHY foreign visitors are expected to keep Britain’s tills ringing over the crucial Christmas period, with spend from Thai tourists outpacing all other nationalities so far this year. Thai visitors are the fastest growing consumers of luxury goods in the UK this year so far, with spending up 53 per cent compared to the 37 [...]
High Street champion Bill Grimsey accuses Debenhams of bully-boy demands December 19, 2013 RETAIL veteran and former Wickes boss Bill Grimsey has hit out at Debenhams, accusing the department store group of “bully-boy tactics” after it demanded discounts from its suppliers just days before Christmas. The small business champion, who launched an independent review into the high street this autumn, said the demands made on suppliers were “unacceptable”. [...]
Mix it up: Grab yourself a cornflake Daiquiri this Christmas time November 26, 2013 @philip_salter IN case you hadn’t noticed, Christmas is creeping into our lives, bringing out the inner-child or Grinch depending upon whether your glass is half-full or empty. But whatever your disposition don’t despair – even Mr Scrooge can enjoy the hallowed traditions of Christmas films and gentle inebriation. For those whose glasses are full to [...]
What you need to know before the open – 20/12 December 20, 2013 With Christmas drawing ever nearer, today's the last day of the final full week of trading, but we've still got a fair amount of data coming in. Disappointing numbers over in the US yesterday saw markets slip, finishing the day mixed. But Europe moved up, meaning we could see the FTSE 100 finish higher for [...]