Britain’s bright Brexit future: A trader’s perspective June 22, 2016 I have been working in the City since I left school at the age of 15 in 1968, so I think it’s fair to say I know a bit about finance. As the founder and chief executive of CMC Markets, an online trading company with a market cap of approximately £800m which entered the FTSE [...]
House of Fraser posts record sales in first year under Nanjing Xinjiekou as it ramps up international expansion April 21, 2015 House of Fraser's new owners will be toasting their decision to acquire the business, which has revealed record like-for-likes for the year. The figures Like-for-like sales at the department store were up 5.8 per cent, with gross total value (GTV) rising to £1.3bn. Profits rose £29.6m to £460.2m while adjusted EBITDA rose seven per [...]
Property of the Fortnight: The Muppet Show comes to Camden January 25, 2016 It’s time to play the market for the Muppet House tonight. That’s right, for the first time ever, the Creature Shop that used to house Jim Henson’s furry cast is going on sale as a luxury penthouse. The Henson Building, as it’s still known, is on 30 Oval Road in an imposing Victorian warehouse in [...]
Want to own a slice of royalty? Prince Philip’s 1954 Aston Martin Lagonda MK1 has been put up for auction March 14, 2016 Fancy owning a slice of motoring history? The car that netted Aston Martin its first Royal Warrant has just been put up for auction – although with an estimate of £350,000 to £450,000, you'll have to be pretty committed. The three-litre Lagonda, in a "bespoke shade" of Ediburgh Green, was one of just 20 MK1 [...]
House of Fraser reports strong Christmas trading period after first full year of being owned by Chinese conglomerate Sanpower January 11, 2016 House of Fraser appears to have shrugged off the festive blues plaguing other retailers, with sales up 5.3 per cent for the six weeks to 2 January. The figures The Chinese-owned department store, said it had had a strong Christmas trading period, starting with Black Friday, when sales were up 10 per cent on the previous [...]
City Moves for 21 April 2016 | Who’s switching jobs April 21, 2016 Lincoln International Lincoln International, the global mid-market investment bank, has announced that Tomas Freyman has joined the firm’s London office as a managing director specialising in valuations. Tomas will be part of the firm’s global valuations and opinions group and will work closely with Ron Kahn, who co-heads that group and is based in Chicago. [...]
Steel group warns over China’s continued steel production April 10, 2016 The government must do more to combat the flood of cheap steel coming from China, the director of sector trade body UK Steel has warned, after it was revealed China's planned cuts will not remove an on-going supply glut. “This puts into stark focus the need for the UK government to work with Brussels in helping [...]
Live: Pensions lifeboat says that it had concerns about the BHS pension scheme in 2012 May 9, 2016 The BHS' pension scheme was on the Pension Protection Fund's (PPF) radar as far back as in 2012, MPs were told today. Alan Rubenstein, chief executive of the PPF, also explained to a committee hearing that the scheme had a 23-year recovery plan at that point, which is significantly longer than would usually be allowed. Lesley Titcomb, [...]
Cartier owner Richemont share price drops as it reports Christmas sales fall for the first time since 2008 January 14, 2016 Richemont, the owner of luxury brands Cartier, Mont Blanc and fashion house Chloe, has reported sales over the Christmas period fell for the first time since 2008. The world's second biggest luxury goods group's share price fell too: down 2.9 per cent to CHF63.55 (Swiss francs) as markets opened. The figures Revenue, at constant currency rates, fell four per [...]
Sofa chain DFS hails bumper half-year profits March 23, 2016 Shoppers are in the market for a new sofa and they are coming to buy them at DFS, according the furniture chain which posted a jump in first half profits. The company, which trades under its eponymous brand as well as Sofa Workshop and Dwell, said it made a pre-tax profit of £16.2m in the six [...]