WHAT THE OTHER PAPERS SAY THIS MORNING November 27, 2011 FINANCIAL TIMES PLEA TO BRUSSELS OVER AUDIT SHAKE-UP The heads of several midsized audit networks have issued a last-ditch appeal to the European Commssion not to dilute sweeping proposals aimed at reducing the dominance of the four biggest accountants and improving audit quality. In a joint interview with the Financial Times, the chief executives called [...]
Lastminute trims losses October 10, 2011 ONLINE travel firm lastminute.com has cut its losses despite suffering a grim year caused by the volcanic ash cloud and strikes by airline crews. The private equity-owned firm increased turnover by 6.45 per cent to £49.14m and cut costs as it tackled the consumer spending slump. Operating losses narrowed 77 per cent to £10.26m, according [...]
Here is the Next step for Marks & Spencer to take November 8, 2011 TWENTY years ago, the UK was in recession and Marks & Spencer had just changed its boss: some things never change. Under Rick Greenbury, M&S went on to have a good 1990s, before over-expansion led to the inevitable and painful correction, under a new management team. Twenty years on, the competition is much tougher and [...]
Fears for UK economy knock FTSE lower in volatile trading November 16, 2011 AFTER yet another rollercoaster session, Britain’s top share index ended a touch lower yesterday, as upbeat US economic data proved a welcome distraction for investors gripped by concern over the UK economy and Europe’s debt crisis. The UK benchmark closed down 8.42 points, or 0.2 per cent, at 5,509.02, after a session in which it [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 23, 2011 FINANCIAL TIMES BOSTOCK IN TALKS TO QUIT M&S FOR ASOS Kate Bostock, the head of Marks and Spencer’s clothing and homewares business, is in advanced talks to take up a senior role at Asos. People familiar with the situation said Bostock was talking to the online fashion retailer about becoming its managing director. Losing Bostock, [...]
M&S unveils £600m store revamp as Bolland looks to put his stamp on retailer after Rose September 12, 2011 MARKS & Spencer boss Marc Bolland yesterday laid out detailed plans for a £600m stores revamp. Bolland said at a presentation at the retailer’s High Street Kensington branch that M&S will open 14 pilot stores in October incorporating refurbished designs and new store layouts with deli and bakery counters for its food section. M&S today [...]
High street brands in fight for middle ground October 11, 2011 ACCORDING to YouGov’s Household Economic Activity Tracker, 55 per cent of UK consumers are more price conscious than they were a month ago, compared to only two per cent who are less price conscious than in September. With the uncertainty about the economy continuing and people keen to make sure they are not overspending, winning [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 20, 2011 FINANCIAL TIMES CAYMAN DIRECTORS COLLECT FUND JOBS A small group of Cayman Island “jumbo directors” are sitting on the boards of hundreds of hedge funds as demand for independent directors booms in the Caribbean tax haven. A least four individuals hold more than 100 non-executive directorships each, and 14 have more than 70 – each [...]
THE TIPSTER October 9, 2011 THOUGH Premier Foods served up a healthy slice of humble pie for investors with the profits warning last week, can this mark a turning point for the company? With mounting debts and falling sales it is certainly in something of a pickle so pressure will build to move ahead with the disposal of peripheral brands [...]
Short sellers aim for Next and Glencore on FTSE 100 October 3, 2011 FASHION retailer Next was the most shorted stock on the FTSE 100 in September as investors bet its share price would be dented by further pain on the high street, data from Data Explorers yesterday showed. Investors, primarily hedge funds, borrowed close to eight per cent of Next’s shares to take short positions as retail [...]