Topps Tiles grows market share as profits rise for first time in six years November 26, 2013 SHARES in Topps Tiles surged more than six per cent yesterday after the retailer posted its first rise in adjusted pre-tax profit since 2007. The company, which has 327 stores, said adjusted pre-tax profit rose 2.2 per cent to £13m in the year to 28 September, although revenues were flat at £177.8m. “It has been [...]
The Bottle Opener: Champagne’s leading man December 12, 2013 The last eponymous head of a champagne house talks about his passion for fizz Pierre-Emmanuel Taittinger, the last eponymous head of a great champagne house, personifies the wine he has spent his life making and selling; full of elegance, charm and effervescence. “I am a singular man. I am an iconoclast. My favourite food is [...]
Inside Track: The EU’s rules to cap bankers’ bonuses aren’t working January 15, 2014 CREATE a loophole and bankers will leap through it quicker than you can say “deferred compensation”: that seems to be one of the axioms of the aftermath of the financial crisis. Examine the consequences of the European Commission’s cap on the multiple of salaries that banks can dish out in variable pay, though, and the [...]
What the other papers say this morning – 21 November 2013 November 20, 2013 FINANCIAL TIMES Obama snubs Fannie-Freddie plan The White House came out against a proposal by a group of hedge funds to take over and recapitalise the core operations of Fannie Mae and Freddie Mac, the US mortgage finance giants, saying it risked creating two new “too big to fail” institutions. Gene Sperling, the White House [...]
London Week Ahead: UK’s Christmas gift of boost to GDP and jobs December 15, 2013 FURTHER evidence that the recovery is gaining traction is expected this week with inflation figures and the release of the employment rate, which may top 30m for the first time ever. While the inflation rate, measured by the consumer prices index (CPI), is forecast to remain at 2.2 per cent – the lowest since September [...]
Wall St The Week Ahead: Thanksgiving lull ahead of Black Friday November 24, 2013 Wall Street set another record last week, and the rally that has taken the S&P 500 index nearly 30 per cent higher for the year shows no sign of losing steam as Americans prepare to celebrate the Thanksgiving holiday. Trading volume is likely to be light as US stock markets will be closed on Thursday [...]
Persimmon in house sale lift July 3, 2012 HOUSEBUILDER Persimmon said yesterday it had made an excellent start to its new strategic plan by completing more new homes, attracting more viewers and selling them for a higher fee, giving it confidence for the full year. The group followed other property developers by saying that market conditions had been relatively stable despite sentiment being [...]
Inside Track: Bank of America Merrill Lynch closes 2013 with a flurry December 12, 2013 THE timing appeared so impeccable, you almost felt it must have been staged. Just as Bank of America Merrill Lynch’s head of equity capital markets was running through a presentation on how the bank has gained market share over the year, one of the mobiles on the desk in front of him rang. With that [...]
We must help the poor – but hurting the rich makes no sense February 18, 2014 MORE Ferraris are now sold in the UK than in any other European country. No fewer than 677 of the Italian supercars were delivered to the UK, out of total global sales of 7,000, more even than Germany, home of autobahns with no speed limits. Many people will be upset at this. Real wages are [...]
What you need to know before the open – 29/11 November 29, 2013 European markets saw another positive day yesterday, despite concerns over the strength of recovery in the euro area. The Dax continued to make record highs during trading. Data-wise, German retail sales missed expectations this morning, whilst UK house prices have climbed at their fastest rate for three years. French consumer spending fell 0.2 per cent in [...]