Burberry shares slide after chief warns on China October 7, 2013 SHARES in Burberry plunged yesterday after the brand’s chief executive stressed that the slowdown in China could be more than a passing phase for the luxury sector. The Chinese economy’s growth this year looks set to meet the government’s 7.5 per cent target. However, that would still represent the slowest pace of expansion in 23 [...]
What the other papers say this morning – 08 October 2013 October 7, 2013 FINANCIAL TIMES Hedge fund DE Shaw limits investors One of the most profitable hedge funds has closed its doors to new clients, calling time on the industry’s ability to square vast inflows of money with the promise of market-beating returns. DE Shaw’s move means that of the largest six, only Man Group and Och-Ziff, are [...]
Strong London rents help boost UK Commercial Property Trust August 21, 2013 UK Commercial Property Trust, the largest UK-focused trust of its kind, said yesterday its net asset value (NAV) per share had dipped 1.2 per cent to 68.9p in the six months to 30 June, as the value of its property portfolio fell. The Guernsey-based trust, which owns retail and office properties across the UK, posted a [...]
All taxpayers should have a chance to benefit from the Lloyds privatisation September 17, 2013 THE SUCCESSFUL sale of 6 per cent of Lloyds to institutional shareholders was a crucial first step in returning the bank to full private ownership. That the government has been able to obtain a price above the initial purchase price – and well above the price in the national accounts – is particularly positive. Indeed, [...]
Inside Track: Just-eat.com just might serve up a London flotation July 25, 2013 LONDON’S reputation as a host city for start-up technology groups would be enhanced if some of the larger businesses would only decide to list here. While there’s no doubt the plan to set up a hub for tech companies around Old Street roundabout is making strong progress, there are still concerns that some of the [...]
Brookfield Property makes $5bn bid for 99 Bishopsgate owner September 30, 2013 BROOKFIELD Property Partners yesterday offered to buy the 49 per cent of Brookfield Office Properties (BPO) it does not already own for $5bn (£3.1bn) in a deal that would create one of the world’s largest commercial property firms. Both companies are subsidiaries of Toronto-based Brookfield Asset Management which manages about $175bn in power, property, infrastructure [...]
Tech powerhouse who wants to save our ailing high street November 10, 2013 Annabel Palmer meets Dan Wagner, back in the limelight with latest venture Powa Technologies HE may be one of Britain’s most prominent tech entrepreneurs, but Dan Wagner has had more than his share of career ups and downs and scathing headlines. In the 1980s, he was subject to criticism from the financial community for his [...]
Sofa giant DFS draws up plans for London float September 29, 2013 DFS, the UK’s biggest sofa chain, is lining up plans to list on the London stock market amid moves by its owner to cash in on its surging sales growth. The company, formerly known as Direct Furnishing Supplies, has ridden out the high street downturn and retail bloodbath over the past year to post an [...]
New FTSE100 stocks see red as first trading day incurs losses September 23, 2013 SPORTS Direct and Coca Cola Hellenic both saw losses in their first day of trading after joining the index of 100 top shares yesterday. The sports retailer began the day positively but rapidly plunged into the red, ending its debut on the FTSE100 down 1.07 per cent, a bigger drop than the overall 0.59 per [...]
Stubborn price rises still above inflation target October 15, 2013 SOARING energy bills helped keep inflation firmly above its target in September, official figures showed yesterday. Prices increased by 2.7 per cent in the 12-month period, above the Bank of England’s two per cent and the same rate as in the year to August, according to the Office for National Statistics’ consumer prices index (CPI). The [...]