Restaurant Group serves up profit rise March 3, 2010 RESTAURANT Group – which owns the Garfunkel’s and Chiquitos chains – saw a slim rise in profit last year. Revenues were up five per cent to £436m while pre-tax profits rose two per cent to a higher-than-expected £50m, the company said yesterday. The company has weathered the recession without the massive discounting seen by some [...]
Insider deal couple to face criminal trial March 15, 2010 A married couple have been charged with insider dealing as part of the Financial Services Authority’s (FSA’s) clampdown on market abuse just days after the conviction of former Cazenove banker Malcolm Calvert. Former Dresdner Kleinwort investment banker Christian Littlewood and his wife Angie Lew have been charged with 13 counts of insider dealing in a [...]
More retailers could follow Woolies as hard times continue August 31, 2009 RETAILERS were in August their most positive since November 2007, a recent survey from the Confederation of British Industry (CBI) showed. Only 2 per cent of retailers surveyed by the CBI in August are expecting the situation to get worse, despite high street sales falling for the fourth month running. And indeed, with all the [...]
Markets awaiting USdata September 27, 2009 There could be an eerie sense of trepidation about the markets this week as tomorrow brings us the first anniversary of the Dow’s biggest ever one-day points loss of 777 points, triggered by the failure of the financial bailout bill in the House of Representatives. Wall Street ended last week with its biggest weekly drop [...]
Starbucks drinks to a recovery September 2, 2009 IF the coffee business is a barometer of consumer confidence, things may be picking up for the UK economy. Starbucks UK boss Darcy Willson–Rymes yesterday told City A.M. that over the last couple of months its UK coffee shops have sold more on a like–for–like basis than the same period the year before. The lift [...]
Starbucks drinks to a recovery September 2, 2009 IF the coffee business is a barometer of consumer confidence, things may be picking up for the UK economy. Starbucks UK boss Darcy Willson–Rymes yesterday told City A.M. that over the last couple of months its UK coffee shops have sold more on a like–for–like basis than the same period the year before. The lift [...]
Investment banking is star of show February 25, 2010 IT looks like Stephen Hester deserved his £1.6m bonus after all. Yesterday, the bank delivered a stronger-than-expected set of numbers, even if the mainstream media continued to fixate on the government’s decision to rubber stamp bonus payments for staff. Analysts at Nomura think RBS could end up back in the black before this year is [...]
CITY VIEWS: ARE YOU EXPECTING THE PRICE OF GOODS TO KEEP FALLING? August 18, 2009 HANESH PURI COCA COLA ENTERPRISES“I think prices will level out soon, and consumer spending will increase. I’m personally waiting for a year to monitor market fluctuations before I make any large purchases. Consumers don’t yet have the confidence to spend.” IAN JACKSON IROKO SECURITIES“Although it came in below economists expectations, I wasn’t disappointed in the [...]
Summer sales data to reveal retail outlook September 6, 2009 RETAILERS are set to provide fresh evidence of consumer confidence this week in a series of market updates. In a bid to revive the ailing retail sector the West End is launching High Street Fashion Week today in an effort to attract a predicted 2.4m shoppers to Oxford Street. ABF Foods, Primark’s owner, will today [...]
Summer sales data to reveal retail outlook September 6, 2009 RETAILERS are set to provide fresh evidence of consumer confidence this week in a series of market updates. In a bid to revive the ailing retail sector the West End is launching High Street Fashion Week today in an effort to attract a predicted 2.4m shoppers to Oxford Street. ABF Foods, Primark’s owner, will today [...]