Ashley’s new bargain basement June 14, 2009 Newcastle United owner Mike Ashley has set up a £1 shop in the former Burberry headquarters in London’s West End, despite budget retailer TK Maxx being blocked from opening nearby. The former up-market building is now plastered with “sports clearance” signs. It is believed Ashley’s Sports Direct chain is using the store to clear old [...]
Crossrail causes Oxford St closure June 9, 2009 Retailers are up in arms after Transport for London (TfL) confirmed yesterday that a large stretch of Oxford Street is to be closed for work on the £16bn Crossrail project. The street will be closed to east-bound traffic between Newham Street and Tottenham Court Road, while construction workers replace and repair the ancient water and [...]
Spending boost for West End’s stores May 25, 2009 HALF a million shoppers were drawn to London’s West End this bank holiday by a day of free parking and in-store entertainment. The event, which saw shoppers spend around £50m on Saturday alone, took the New West End Company six months to organise with co-operation from West End retailers, Westminster City Council and Transport for [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 5, 2009 THE SUNDAYSThe Sunday TelegraphPRU ENSURES CHANGES TO CAZENOVE RESEARCHJP Morgan Cazenove has rewritten a piece of research about Prudential that initially made a string of adverse comments about the insurer’s accounting procedures. The research note is understood to have made disparaging remarks about reporting decisions taken by Tidjane Thiam, set to take over as chief [...]
THE LONDON REPORT June 7, 2009 CORPORATE data due out this week could help to steer the market, particularly with regards to retailer and consumer stocks, while investors in Independent News & Media will be hoping for an update on the future of the ailing publisher at its annual meeting on Wednesday. Today’s 17-week trading statement from JD Sports Fashion is [...]
THE LONDON REPORT June 7, 2009 CORPORATE data due out this week could help to steer the market, particularly with regards to retailer and consumer stocks, while investors in Independent News & Media will be hoping for an update on the future of the ailing publisher at its annual meeting on Wednesday. Today’s 17-week trading statement from JD Sports Fashion is [...]
Jaguar axes X-Type model and cuts jobs July 15, 2009 JAGUAR LAND ROVER (JLR) is axing a further 300 jobs – this time at a plant in Merseyside – and is stopping production of its X-Type model, the carmaker said yesterday, as luxury cars are hit in the downturn. “Our industry has been especially badly hit by the recession and the premium sector more than [...]
Sky Capital six in fraud charge July 8, 2009 SIX former employees of Wall Street retail brokerage Sky Capital were yesterday charged with running a $140m (£87.2m) “trans-Atlantic boiler room” to defraud investors in both the US and the UK. US prosecutors announced a criminal indictment of fraud against Sky Capital’s founder and chief executive Ross Mandell and five others, while the Securities and Exchange [...]
Sky Capital six in fraud charge July 8, 2009 SIX former employees of Wall Street retail brokerage Sky Capital were yesterday charged with running a $140m (£87.2m) “trans-Atlantic boiler room” to defraud investors in both the US and the UK. US prosecutors announced a criminal indictment of fraud against Sky Capital’s founder and chief executive Ross Mandell and five others, while the Securities and Exchange [...]
Six myths about the financial crisis September 6, 2009 A comfortable, corporatist consensus is building up about how to deal with the financial crisis. Led by Alistair Darling and his French and German counterparts at the G20 finance ministers’ summit on the weekend, this consensus is essentially that the financial crisis “proves” that global free market capitalism has “failed” and that everything is the [...]