Hiscox shores up flood reserves as earnings rise February 24, 2014 SPECIALIST insurer Hiscox yesterday revealed a 12.4 per cent jump in annual pre-tax profit to £244.5m, as the glut of hurricane and catastrophe claims seen in 2012 did not repeat itself. Chief executive Bronek Masojada said it had been “a very good year” for the London-listed group. “We are excited about the opportunities we see [...]
Chinese holidaymakers lead the charge over Christmas January 13, 2014 Wealthy foreign visitors helped keep Britain’s tills ringing over Christmas with spending up a record 40 per cent on the previous year. Chinese tourists led the charge, with spending up 52 per cent to around £741 per transaction in December, according to figures out today by tax-free shopping specialist Global Blue. While China accounted for [...]
Amazon extends Sunday delivery to six more cities January 20, 2014 AMAZON will extend the Sunday delivery service that it trialled in London during December to six additional cities around the UK. Customers in Birmingham, Milton Keynes, Oxford, Nottingham, Manchester and Leeds will now be able to order items for delivery on any day of the week as part of Amazon’s Sunday delivery service. Sunday deliveries [...]
Green takes a bigger bite out of Big Apple with Fifth Avenue store February 5, 2014 SIR PHILIP GREEN is stepping up his expansion plans for Topshop in the US after announcing plans yesterday to open five new shops, including a flagship store on New York’s Fifth Avenue. The 40,000 square feet store on the world’s second most expensive street will open in the Autumn next to the Rockefeller Center and [...]
Any Other Business – 19/02 February 19, 2014 IT WAS flotation madness yesterday as we saw games whizz King, bargain retailer Poundland, and Danish business services firm ISS file for their IPOs. But there was a backstory to King and ISS’s flotations that raised a few smiles in the City. As we reported back in October, financial PR group Powerscourt lost its client King [...]
The stiff competition facing Royal Mail May 21, 2014 Ahead of its first set of full-year results as a listed company tomorrow, Royal Mail’s announced it’s going to trial delivering parcels on Sundays. Later this summer, it’ll open about 100 offices on Sunday afternoons for customers to pick up parcels. It’ll also pilot delivering parcels within the M25; and from June, Parcelforce Worldwide, its [...]
Q & A January 30, 2014 DIRECTOR, DOUGLAS & GORDON Am I better off buying in an established area or going to the next up-and-coming one? Buying property in the next up-and-coming area is always risky if you’re looking for value growth. Douglas & Gordon figures show that areas around Prime Central London grew by twice the rate that Prime did [...]
Online retailers take £10bn in a bumper November December 16, 2013 ONLINE retailers took over £10bn of sales in November, a new monthly record that raises further fears that high street retailers have been left behind in the key Christmas trading period. Online retail sales jumped by 30 per cent in November compared with the previous month – the highest monthly increase in 10 years. This [...]
Barclays cuts up to 400 jobs in investment January 28, 2014 HUNDREDS of investment bankers at Barclays will lose their jobs as the bank maintains its focus on costs, it emerged yesterday. The axe is likely to fall on poor performers in centres including London and New York, while staff also face a crackdown on travel as the bank tries to control costs. Employees will no [...]
Fat Face moves closer to stock market debut January 20, 2014 Clothes shop Fat Face is ratcheting up its plans to seek a listing on the London Stock Exchange, and has brought in a slew of bankers to advise on a possible flotation. Bridgepoint, the private equity group that owns Fat Face, hired financial advisory group Lazard in December to assess options. And after strong Christmas [...]