Asda is given go-ahead for Netto deal September 23, 2010 ASDA will sell around a quarter of its newly-acquired Netto supermarkets, the Office of Fair Trading said yesterday, in a blow to the grocer’s expansion into smaller city-centre outlets. Asda paid £778m for Netto in May, but said yesterday it will find buyers for 47 shops after the OFT raised competition concerns. The supermarket is [...]
Johnson warns banks to heed anger over pay September 6, 2010 MAYOR of London Boris Johnson, one of the very few politicians who until now has defended the City, has called on bankers to cut back on their Christmas bonuses. Johnson said the spectacle of traders taking home large payouts would create a “combustible contrast” with the first wave of public sector job losses, which are [...]
Amazon enjoys strong Christmas January 28, 2010 Amazon.com blew past Wall Street profit estimates yesterday in its closely watched holiday quarter and forecast revenue for early 2010 that topped Wall Street expectations. The online retailer – which sells everything from books to barbecues while offering a host of services to businesses and Web developers – has been viewed as a winner of [...]
Richemont in lift as watch sales thrive September 8, 2010 SWISS luxury goods group Richemont’s five-month sales jumped 37 per cent, beating forecasts and confirming a rebound in the sector as wealthy Asians splash out again on luxury watches and jewellery. Richemont, normally cautious in its outlook, said yesterday net profit for its first half to September should be significantly higher than last year. However, [...]
THE TIPSTER October 4, 2010 NON-FARM payroll data this Friday should provide the usual fireworks. Marking the start of the final quarter of 2010, this is a crucial figure. Markets have been jumpy amid continuing uncertainty about the global economy and this monthly release has moved stocks around dramatically in the past year. Its trajectory in the coming months could [...]
Metro Bank vows to employ 500 staff by next year as it opens second branch September 2, 2010 HIGH STREET upstart Metro Bank said it would employ more than 500 staff by the end of next year as it opened its second branch in the UK. Chief executive Craig Donaldson told City A.M. the retail deposit taker, which aims to attract disillusioned customers from other major lenders, would have 200 employees by Christmas. [...]
HMV hit by World Cup fever September 9, 2010 ENTERTAINMENT company HMV has said that this summer’s World Cup triggered a 14.9 per cent fall in sales in the UK and Ireland. The firm said potential customers had spurned DVDs, CDs and books to watch the football, hitting the figures which covered the 19 weeks to September. HMV, which owns the Waterstone’s chain, has [...]
Motorola plans iPad competitor August 3, 2010 Motorola is planning to release a competitor to Apple’s iPad, based on Google’s Android software. The device is expected to feature television services, two cameras and Adobe Flash compatibility, and will be marketed in conjunction with the Verizon mobile network. The ten-inch tablet is slated for release in time for the pre-Christmas rush.
DSGi tips iPad as the Xmas gift to fly off the shelves fastest July 28, 2010 APPLE’S iPad has been tipped to be this Christmas’s best-selling gadget, according to Currys and PC World owner DSGi. The company, which owns 670 stores in the UK, said Apple’s tablet computer will top the list of desirable gifts during the festive season. DSGi predicts that hi-tech gadgets will be the must have items. Jeremy [...]
Commodities drive surge in food inflation September 7, 2010 FOOD price inflation surged to its highest level in more than a year as rising commodity prices fed through into the supermarkets, the British Retail Consortium (BRC) will say today. The BRC’s monthly shop price index shows that annual food inflation increased to 3.8 per cent in August from 2.5 per cent in July, the [...]