Debenhams caught in icy blast from shareholders January 12, 2010 THE cold snap wasn’t quite over for high street stalwart Debenhams at its annual general meeting yesterday as the board came under fire from beleaguered shareholders keen to know when their pockets would be padded with dividends once again. At the company’s London-based meeting, chairman John Lovering worked hard to reassure investors that the company [...]
UK gives Santander a boost February 4, 2010 The UK operations of Spanish banking giant Santander saw full-year profits leap 30 per cent in 2009 as the group grew its share of the mortgage market and signed up more than expected new customers to its bank accounts. Pre-tax profits hit £1.54bn for the year to 31 December with new acquisitions Bradford & Bingley [...]
Moulton raises £143m for investment vehicle to target distressed companies December 15, 2009 PRIVATE equity industry veteran Jon Moulton has raised £142.4m to invest in struggling businesses through his new investment vehicle. Moulton, perhaps best known for his involvement in an unsuccessful bid to buy collapsed Midlands car maker MG Rover, will advise Better Capital, which will list on the Alternative Investment Market (AIM) on tomorrow. The group’s [...]
New Look hails strong Xmas January 7, 2010 BUDGET fashion chain New Look yesterday said it was undecided on a return to the stock market as it reported strong Christmas trading. Like-for-like sales in the UK grew 5.9 per cent in the 14 weeks to 2 January, while total turnover including overseas operations was up 14.4 per cent. The “disposable fashion” group, backed [...]
Laura Ashley price cutting boosts sales December 16, 2009 LAURA ASHLEY, the womenswear and home furnishings retailer famous for its floral prints, continues to defy the hardship on the high street, with sales rising nearly five per cent since August. With the latest UK sales data showing improved retail sales in London in November but sluggishness across the rest of the country, Laura Ashley [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 16, 2010 FINANCIAL TIMES YOUNG GENERATIONS FACE WEALTH DEFECIT Baby boomers hold so much of Britain’s wealth that a prosperity gap is opening between the generations, with people born after 1970 unlikely to acquire the wealth their parents enjoy, a Conservative shadow cabinet member has warned. David Willetts said in a speech to the London School of [...]
Selfridges to make 100m November 29, 2009 Selfridges, the London luxury department store group, is today expected to unveil profits of £100m in its 100th year as the store is buoyed by a surge of wealthy overseas shoppers taking advantage of the weak pound. The retailer, which also has stores in Manchester and Birmingham’s Bullring centre and plans to open another in [...]
Sportech pays £51.4m for US sports betting business January 27, 2010 POOLS operator Sportech is buying racing and venue management business SGR from US group Scientific Games Corp for up to $83m (£51.3m) in cash and shares to become a world leader in pools betting. Sportech said yesterday it would pay an initial $65m, followed by $10m on 30 September 2013 and up to $8m if [...]
Why the UK’s factories are back to 1973 January 4, 2010 EVERYBODY knows that financial services have been the hardest hit sector during the recession, right? Wrong. Manufacturing has been by far a greater drag on UK plc than services, including finance; factories have suffered more than offices, including trading floors. Virtually all our beliefs about the slump turn out, on closer scrutiny, to be incorrect. [...]
Mining and oil stocks drive London to a 16-month high January 4, 2010 Strength in commodity stocks and banks drove Britain’s leading share index to a 16-month closing high yesterday, the first session of 2010, outweighing falls from real estate firms and life insurers. The FTSE 100 closed up 87.46 points, or 1.6 per cent, at 5,500.34, its highest close since Sept. 2, 2008 – the month when [...]