Osborne admits taxes may drive banks overseas October 20, 2010 CHANCELLOR George Osborne yesterday appeared to soften his stance slightly on the taxes pummelling the banking sector, admitting for the first time that draconian measures run a real risk of hounding firms out of the country. “We neither want to let banks off making their fair contribution, nor do we want to drive them abroad,” [...]
House of Fraser to revitalise Swinging Sixties brand Biba September 5, 2010 DEPARTMENT store House of Fraser is this week set to breathe new life back into Biba, the cult clothing brand which defined the 1960s. Biba, which will now be fronted by model Daisy Lowe, is to relaunch on Wednesday at the group’s Oxford Street store, featuring leopard print, faux-fur and denim clothing, party frocks and [...]
Hong Kong gains ground on the City September 20, 2010 THE government was warned yesterday not to risk London’s position as the world’s largest financial centre as a report showed the City and New York losing ground to Hong Kong. Hong Kong has now joined New York and London as one of the “Big Three” financial centres for the first time, according to the latest [...]
Hong Kong gains ground on the City September 20, 2010 THE government was warned yesterday not to risk London’s position as the world’s largest financial centre as a report showed the City and New York losing ground to Hong Kong. Hong Kong has now joined New York and London as one of the “Big Three” financial centres for the first time, according to the latest [...]
Own brands fuel House of Fraser surge September 22, 2010 DEPARTMENT store group House of Fraser yesterday reported a 22 per cent rise in half-year earnings thanks to its own-brand ranges. The company said earnings reached £13m after a 5.5 per cent rise in sales to £480.6m. House of Fraser, the third-biggest department store chain in the UK, said its online sales were also forging [...]
CITY MOVES | WHO’S SWITCHING JOBS September 22, 2010 Arbuthnot Securities The investment banking firm has hired Craig Fraser as its new head of research. Fraser was most recently deputy head of research at Liberum Capital and also previously ran the large cap pan-European leisure and business services research teams at Goldman Sachs, Lehman Brothers and CSFB. Arbuthnot has also taken on Nick Spoliar [...]
Zara owner profits up 68pc September 22, 2010 INDITEX, the Spanish group which owns Zara, saw a 68 per cent jump in half-year profit – fuelled by its assault on the online market. The company reported that it had made a net profit of €628m (£534m). Sales reached €5.525bn in the first half, in line with earlier forecasts for the company. Inditex said [...]
Investors want clarity on tax and regulation October 17, 2010 AHEAD of this week’s Comprehensive Spending Review, the City of London has published a report looking into the predictability and competitiveness of the UK tax regime and how this impacts upon the financial services industry. The City understands and fully supports the government’s commitment to cutting the fiscal deficit. However, whilst increasing taxes and cutting [...]
Walker to bid £1bn for food firm Iceland October 10, 2010 THE boss of frozen food chain Iceland is planning a £1bn takeover of the firm he founded four decades ago, although he faces a potential bid battle, it emerged yesterday. Malcolm Walker, who together with other managers owns about a quarter of the retailer, is thought to have offered to buy the remaining 76 per cent [...]
City commercial property figures to tell conference about upward trends May 26, 2010 LONDON’S commercial property market is in an upward swing, according to City figures who feel bullish about the city’s future. A delegation of members from the commercial property sector will today hear the challenges and reality of London’s future as a world city at the annual British Council for Offices. Held for the first time [...]