What the other papers say this morning – 11 February 2014 February 10, 2014 FINANCIAL TIMES Woodford puts name to new fund Neil Woodford, one of Britain’s most successful fund managers, will pin his own name to his asset management venture, according to Companies House filings. Woodford Investment Management has been set up at the same address at Oakley Capital, the firm Mr Woodford is joining in May after [...]
White Company founder and top bosses awarded bumper bonus January 7, 2014 CHRISSIE Rucker, founder of the White Company, took home £4.5m last year after the home furnishings and fashion retailer reported a rise in sales and profits. Accounts filed this week at Companies House also show that £2.9m was set aside to pay out a long-term incentive scheme for the group’s top managers. The nightwear and [...]
High street kicks-off sales frenzy ahead of Christmas December 19, 2013 DISCOUNTING activity in the crucial run-up to Christmas has begun in earnest as new figures out yesterday showed that nearly three quarters of retailers were now holding sales in a last-minute bid to win over shoppers. PwC said 72 per cent of the 100 high street retailers surveyed were now on sale or holding promotions [...]
What the other papers say this morning – 10 March 2014 March 10, 2014 FINANCIAL TIMES Spotify’s credit line hints at IPO Spotify has secured a $200m credit facility from lenders including Morgan Stanley, bringing the Swedish music company a step closer to a potential initial public offering in the US, according to people close to the deal. The Stockholm start-up, which last year sold equity that implied a [...]
Wall St The Week Ahead: Big banks will set pace in new earnings round January 12, 2014 AFTER the S&P 500’s impressive 30 per cent return in 2013, Wall Street will get a better picture of reality this week as the pace picks up for companies reporting earnings. A number of big banks are due to report quarterly and full-year results, including JPMorgan Chase and Wells Fargo tomorrow, Bank of America on [...]
Why it’s not too late to play the UK’s economic recovery April 29, 2014 But investors must be ultra-selective to see any long-term gains AFTER two scintillating years for British equities, which saw shares boom alongside a surprisingly strong economic recovery, many UK-focused stocks have come off the boil. The mid-cap FTSE 250 (whose constituents draw over half of their sales from Britain) is down almost 0.6 per cent [...]
InBev buys back Korean brewery in $5.8bn deal January 20, 2014 ANHEUSER-Busch InBev, the world’s largest brewer, has agreed to buy back South Korea’s Oriental Brewery Company (OB) for $5.8bn (£3.53bn) from KKR & Co and Affinity Equity Partners in what is the biggest ever exit by a private equity firm in Asia. Yesterday’s deal more than triples the original $1.8bn investment by the firms that [...]
Sony hits sales record for new games console November 17, 2013 SONY racked up more than 1m PlayStation 4 (PS4) sales in just 24 hours following its US and Canadian launch on Friday. The fast-selling console puts Sony on track to hit its target of 3m sales by the end of the financial year, and 5m PlayStation 4’s sold by March. “Sales remain very strong in [...]
London Report: Barclays, Bank of England and Lloyds in focus February 9, 2014 BRITISH banks will be under the spotlight this week as Barclays and Lloyds deliver their full-year results and Bank of England governor Mark Carney updates the markets on its forward guidance policy for setting rates. Lloyds has already provided an update on its progress, predicting an underlying profit of £6.2bn for 2013 compared to £2.6bn [...]
Grafton selling more building supplies in Britain and Ireland January 9, 2014 BUILDERS’ merchant Grafton posted an eight per cent rise in annual revenues to £1.8bn yesterday, as demand for DIY and building equipment started to recover. Grafton, which moved its primary stock listing from Dublin to London in October, said its UK merchanting business posted a 3.2 per cent like-for-like rise in revenues, or a total [...]