At the close: Opec uncertainty holds the FTSE 100 down June 2, 2016 What was a volatile day on the markets ended rather flat. Big European Central Bank (ECB) and Opec meetings in Vienna failed to move the FTSE 100 far in either direction and it ended down 0.1 per cent at 6,185.61 points. The ECB decided, as expected, to keep interest rates on hold. Though it did raise growth and [...]
Visa Europe records three billion contactless payments over the last 12 months May 10, 2016 Card company Visa has recorded three billion contactless transactions in Europe over the past year. In April alone, European consumers used their cards 360m times, clocking in at almost 140 transactions per second. Contactless now accounts for one in every five Visa card payments in Europe, up from one in 60 in 2013. In the [...]
Horse racing betting: Hunt Cup is a Breeze for Ivory while Glory Awaits June 14, 2016 Some love them; some hate them, but working out one of Royal Ascot’s fiendishly difficult handicap puzzles rewards punters like nothing else. The Royal Hunt Cup (Wednesday 5.00pm) is possibly the biggest lottery of them all, especially when the ground is soft and the effects of the draw unclear. Sir Michael Stoute and Ryan Moore team [...]
National Apprenticeship Week starts today, but City big-guns have been investing in young talent for years March 14, 2016 Today marks the start of National Apprenticeship Week, when London’s businesses raise awareness of the opportunities open to aspiring financiers and school-leavers. Apprentice programmes may be making headlines this week but the founder of one City-based charity says that the Square Mile’s top dogs have been investing in youngsters for years. David Pinchin, who founded [...]
M&S needed a roar from Rowe, but all it got was a whisper May 26, 2016 It was Steve Rowe's opportunity to deliver something big. Analysts had forecast it, and, most importantly of all, M&S' customers were expecting it. But the man from Croydon adopted the softly-softly approach that you might expect of a lifer rather than the more radical path that newcomers tend to take. There was no Dave Lewis-style [...]
Marks & Spencers has released another set of disappointing numbers – is the new boss the same as the old boss? April 8, 2016 So here we are again. Marks & Spencer has put out another set of dismal results, marking the 17th quarter of clothing sales declines out of 18 at what is the nation’s defining retailer. The story was similar to so many that we’ve heard before: general merchandise was a disappointment (although admittedly, the 2.7 per cent [...]
London’s drinking hotspots outdid the rest of the UK in May June 16, 2016 Ahead of the annual summer drinking boom London's pubs and bars were buoyed in May, as sales at the capital's drinking holes outpaced the rest of the country. Like-for-like sales at pubs and bars in London were up 3.8 per cent, while the pub and restaurant sector as a whole grew by 0.9 per cent. "With a [...]
Marks & Spencer’s share price soars as it reveals better-than-expected fourth quarter figures in Steve Rowe’s first results (but clothing is still down) April 7, 2016 Marks & Spencer's share price soared more than three per cent this morning after posting a better-than-expected set of fourth quarter results – albeit yet another set of declines in general merchandise. The figures Group sales at the high street giant were up 1.9 per cent in the 13 weeks to 26 March, but as with [...]
Rivals set to win customers on back of BHS’ demise April 27, 2016 BHS has entered administration, confirming what I have previously written about in this column; its loyal customers have deserted it in recent years. Although BHS will continue to trade while a buyer is sought, the retailer has been in trouble for some time as it failed to modernise its offering. It has been losing market [...]
Marks & Spencer’s share price climbs as chief executive Marc Bolland leaves and Steve Rowe replaces him as trading slumps again January 7, 2016 Marks & Spencer's share price climbed this morning, after revealing chief executive Marc Bolland is leaving the company after yet another period of poor performance. Bolland will be succeeded by Steve Rowe, executive director of general merchandise. He will remain as chief executive and on the board until 2 April, and will remain "available" to Rowe during the handover [...]