Burberry confirms slowing sales October 11, 2012 Fashion retailer Burberry this morning confirmed that retail sales growth slowed in the second quarter, after warning on profits last month. In an interim trading statement, the fashion house said demand in the UK and China had slackened. The group said like-for-like sales grew by one per cent in the three months to 30 September. [...]
Lehman set to sell off biggest asset Archstone November 26, 2012 LEHMAN Holdings is set to sell apartment owner Archstone, it announced yesterday, in a cash and shares deal worth roughly $6.5bn (£4.05bn). Lehman Brothers bought the company, which at the very peak of the housing boom was worth around $22bn. But it will now get just $2.7bn of cash and $3.8bn of shares from developer [...]
Barratt eyes higher profits November 14, 2012 BARRATT Developments yesterday said it was on track for higher profits this financial year as its focus on higher-margin sites, rather than volumes, pays off in a tough market. The UK’s largest housebuilder said market conditions had remained stable since July, but it highlighted that recent government schemes aimed at easing mortgage lending had yet [...]
London housing market stalls as countrywide weakness hits September 30, 2012 HOUSING engine London ground to a halt in September, data from Hometrack revealed today, as house prices across the UK slipped. Average prices in the capital defied the decline seen in almost all other English regions, where they fell by an average of 0.1 per cent, but only managed to stay completely flat between August [...]
VALENTINO: The last emperor of couture November 28, 2012 For MANY, the closest you will ever get to a couture outfit are the images you see in magazines. That is, of course, if you’re not amongst the handful of women whose pockets are deep enough to meet the £50,000 starting price for a dress. But this year in particular, the upper echelon of fashion [...]
Merger talks for historic publishers October 25, 2012 PEARSON revealed yesterday it is in talks with German media powerhouse Bertelsmann to merge its book publishing arm Penguin with Bertelsmann’s Random House. A deal would see a combined company worth around £2bn, with Pearson likely to own a minority share. The merger would also create a company with greater clout when negotiating with technology [...]
The Treasury will gain nothing from property tax hikes December 4, 2012 A S THEY consider a “back-door” mansion tax and another increase in stamp duty in today’s Autumn Statement, George Osborne and Vince Cable should take a quick look at a dramatic drop in tax receipts after the last Budget. In March, stamp duty was hiked to 7 per cent for people buying property over £2m [...]
Weak Wal-Mart sales weigh on jittery Wall St November 15, 2012 US stocks were little changed yesterday as the prospect of a drawn-out battle over impending tax and spending changes made investors wary of getting into the water, while retailer Wal-Mart tumbled after disappointing sales. The S&P 500 is down nearly two per cent for the week, adding to last week’s selloff and eroding more of [...]
Weak Wal-Mart sales weigh on jittery Wall St November 15, 2012 US stocks were little changed yesterday as the prospect of a drawn-out battle over impending tax and spending changes made investors wary of getting into the water, while retailer Wal-Mart tumbled after disappointing sales. The S&P 500 is down nearly two per cent for the week, adding to last week’s selloff and eroding more of [...]
Strong start to autumn season for house of Fraser September 26, 2012 HOUSE of Fraser yesterday said its customers have put summer behind them and are stocking up their winter wardrobes as the department store group posted a “strong start” to the second half of the year. The group, part-owned by Scottish tycoon Sir Tom Hunter, posted a 4.6 per cent rise in like-for-like sales in the [...]