UK economy starts 2015 in good health as rate setters meet – London Report February 1, 2015 CONSTRUCTION, manufacturing and services figures for January, due out this week, are expected to show a healthy economic start for the UK in 2015. Analysts expect all the numbers, based on purchasing managers’ surveys, to be up on December’s. The Bank of England is due to meet this week to set interest rates, with no [...]
Chinese hackers managed to spy on companies via the Forbes website, and could still have access in some cases February 10, 2015 A Chinese hacking group managed to gain access to to the computer systems of thousands of businesses via the Forbes website. From 28 November to 1 December last year, the well established group Cosodo circumvented the company's cyber security measures by exploiting a loophole in its Adobe software, allowing it to infiltrate all [...]
McBride shares washed out by profit warning April 3, 2014 SHARES in McBride plunged nine per cent yesterday after the maker of own-brand household and personal care products announced another fall in quarterly sales and issued a profit warning. The soap and laundry detergent company said revenues fell four per cent in the third quarter of the year and that given the ongoing tough retail [...]
Lloyds to bank £1.5bn if TSB sale to Banco Sabadell goes ahead March 12, 2015 Lloyds is set to receive a final total of £1.5bn for TSB if the Banco Sabadell sale goes ahead – twice the £750m for which it had previously agreed to sell the lender to the Co-op Bank. The giant bank was forced to sell off TSB under the terms of its 2008 bailout. The [...]
Troubleshooter Hughton on Fulham’s radar October 16, 2014 Former Newcastle manager Chris Hughton is on a three-man shortlist to succeed the sacked Felix Magath in the Fulham dugout. A five-man advisory panel devised by owner Shahid Khan, which includes ex-players Danny Murphy and Brian McBride, have also put forward Steve Clarke and caretaker manager Kit Symons.
Poundland boosts board with new execs October 15, 2014 POUNDLAND has bolstered its board after hiring the chief executive of packaging group DS Smith and the finance director of pub group Mitchells & Butlers as non-executive directors. The bargain retailer, which made its market debut in March, said Miles Roberts and Tim Jones would join the company on 30 October. “Both Miles and Tim [...]
Greene King and Spirit Pubs in £773m takeover November 4, 2014 BRITISH pub retailer and brewing giant Greene King finally reached agreement yesterday over the long-mooted takeover bid of compatriot brewer Spirit Pubs. Greene King’s offer – worth £773.6m, at 115p a share – has been accepted by Spirit Pubs’ senior management. The arrangement will see Greene King shareholders take 71.1 per cent in the newly [...]
George Osborne braced for bad news on deficit reduction – London Report October 19, 2014 Public finance figures due out tomorrow are likely to be a blow to chancellor George Osborne, with tax receipts lowered by very low earnings growth. Economists predict that Osborne is now unlikely to meet fiscal targets for the year, despite improved economic activity, stronger house prices and an improved labour market. Howard Archer, of IHS [...]
McBride sales suffering as rival brands ramp up special offers January 9, 2014 MCBRIDE, Europe’s biggest manufacturer of retailers’ own-brand household and personal care products, yesterday announced a three per cent drop in revenue at constant currency in the last six months. The group said its decision – announced previously – to wind down selected contract manufacturing business had hit its first half, but that private label revenue [...]
London Report: Retailer data to reveal strength of UK recovery September 7, 2014 THE NEWLY-MERGED Dixons Carphone will report its maiden quarterly results tomorrow in a week containing a flurry of updates for retailers. Figures for the company, whose merger only completed a month ago, will be keenly watched by investors, who will be hoping the firm’s planned synergies are starting to take effect. Other retailers due to [...]