Q&A: Why was the Woodford fund suspended? October 15, 2019 The decision to sack Neil Woodford as manager of his flagship Equity Income Fund (WEIF) and liquidate the fund’s assets sent shockwaves through the financial world this morning. Link Fund Solutions, which has been managing the suspension of the Woodford fund since it was gated in June, announced this morning that the fund would be [...]
HS2 Q&A: Where is the route, how much will it cost and when will it open? January 20, 2020 Today’s forecast that the cost of HS2 could soar as high as £106bn will come as no surprise to close observers of the project. The number, calculated by infrastructure consultant Michael Byng, is in line with Prime Minister Boris Johnson’s prediction last year that the project will come in “north of £100bn”. But the figure [...]
B&Q owner Kingfisher says it is still on track with its “ambitious” five-year plan May 24, 2016 DIY retailer Kingfisher posted growth in the majority of its markets in a trading update released this morning and said it was on track to deliver its "ambitious" five-year plan. The figures Total sales rose 5.1 per cent for the group to £2.73bn, including new openings in the three months to April, in line with expectations. [...]
Kingfisher’s share price drops as French business holds back sales November 22, 2016 Kingfisher's share price has dropped this morning after the company revealed its French business has been holding it back. The retailer – known for B&Q and Screwfix in the UK – has had good sales this side of the channel, but its share price was down 1.43 per cent at the time of writing. The figures Kingfisher's like-for-like [...]
“Apocalypse, tragedy, catastrophe” – Italian media reacts with fury to World Cup qualification failure as Gianluigi Buffon retires November 14, 2017 Legendary Italian keeper Gianluigi Buffon said he was “sorry for all Italian football” as he announced his retirement from the international game in the aftermath of Italy’s failure to reach next summer’s World Cup. Buffon’s pronouncement was a typically grandiose example of a dramatic national reaction to Italy’s failure to overcome a 1-0 aggregate loss [...]
No Brexit storm for Kingfisher as it retains DIY crown with higher sales and profits September 20, 2016 B&Q owner Kingfisher has posted a strong set of results for the first six months of its financial year and said there is "no evidence" the EU referendum result dented its performance, sending its shares up two per cent at the open. The figures The DIY giant, which also owns Screwfix, said underlying pre-tax profits [...]
World’s largest uncut diamond sale: Lucara’s Lesedi La Rona sold to Graff Diamonds for $53m September 26, 2017 The biggest gem-quality rough diamond found in more than a century has been sold to jeweller Laurence Graff for $53m (£39m). The Lesedi La Rona, the world’s most valuable rough diamond, weighs a record-breaking 1,109 carats and is about the size of a tennis ball. It was unearthed by Canadian miner Lucara Diamond Corp nearly [...]
In for a pound: Sainsbury’s just poached the chief executive of Poundland November 7, 2016 Sainsbury's has gone bargain hunting for its new chief financial officer, after it announced this morning it has appointed Kevin O'Byrne, currently chief executive of Poundland, to the role. O'Byrne has been chief executive of B&Q UK and Ireland, as well as being its group finance director. He's also previously been group finance director at [...]
Kingfisher brushes off Brexit with strong performance in UK – but has been struggling in France August 18, 2016 Brits are doing all the heavy lifting for Kingfisher's sales, as the business has brushed off Brexit – but faces trouble on the other side of the channel. The figures Kingfisher's like-for-like sales were up by three per cent but, as retail anaylst Nick Bubb points out, the results are "very mixed". In the UK, overall sales were up 7.2 [...]
John Lewis hits out at Labour MP over Christmas jingle December 20, 2016 The John Lewis Partnership has hit out at a campaigning Labour MP after she produced a Christmas jingle criticising the retailer for how it treats its staff. Labour MPs, led by Siobhain McDonagh, recently recorded a song – titled "National Living Rage" – to highlight how retailers are cutting staff benefits in response to the national living wage. Read more: [...]