Woolies’ investor backs management September 1, 2008 Ardeshir Naghshineth, the largest shareholder in Woolworths, has backed the struggling retailer’s management team in rejecting a £50m takeover bid from Iceland founder Malcolm Walker. Iranian property investor Naghshineth, said to be worth an estimated £500m, has a 10.2 per cent stake in the firm and was yesterday reported to consider Walker’s bid as being [...]
Sterling falls further September 4, 2008 Sterling continued its sharp decline yesterday as currency markets reacted to the worsening outlook for the UK economy and a slew of negative economic data. Surveys showed consumer confidence mired at a four-month low in August as food prices rose ten per cent year-on-year. Other data showed activity in the services sector still weakening. The [...]
Rate cut calls grow August 29, 2008 Bank of England monetary policy committee (MPC) member David “Danny” Blanchflower warned two million Britons could be out of work by Christmas as he urged the central bank to cut interest rates. Blanchflower, who has voted for a rate cut at the past eight monthly MPC meetings, said yesterday that a cut of more than [...]
Rates left on hold as MPC split looms September 5, 2008 Bets were rising yesterday that the Bank of England meeting to determine the direction of interest rates was one of the most fraught on record. In the end the Monetary Policy Committee (MPC) decided to leave rates on hold at five per cent, but with members Danny Blanchflower and Charlie Bean going head to head [...]
Publishers Beware: The bookworm’s iPod has arrived August 14, 2008 As as free publicity goes, you can’t do much better than getting your product compared to the iPod. That’s why Amazon will have been delighted earlier this week, when Citi analyst Michael Mahaney likened its e-book reader, the Kindle, to the world’s favourite gadget. Digital books have been around since the 1990s, but poor technology [...]
Network Rail rejects MPs ‘reward for failure’ jibes July 22, 2008 Network Rail and the government hit back at an MPs’ report yesterday that identified “a catalogue of failings” on Britain’s rail system. The Commons Transport Committee said that despite bonuses of over £200,000 given to three Network Rail directors, passengers were “inconvenienced and humiliated” by three major engineering overruns at the New Year. But Network [...]
Inflation could hit 6 per cent on fuel bill price hike July 16, 2008 Inflation could reach 6 per cent by the end of the year if an anticipated 30 per cent hike in energy bills hits consumers later this year, according to BNP Paribas economist Alan Clarke. His prediction comes after the official consumer price index inflation rate jumped to a record 3.8 per cent in the year [...]
Going short is not necessarily the answer September 2, 2008 A medium or long term approach may be wisest just now, says Katie Hope Its’ like a grim version of “when I were a lad…” working in the City at the moment. Everyone’s trying to out-do themselves in describing just how bad things have got. Going to school barefoot barely makes the grade in terms [...]
Amazon’s ebbs and flows October 27, 2005 The dotcom giant is at the forefront of growth in the online retail industry. Its sales have just kept on growing, hitting $1bn in America and Canada. But yet its share price has taken a tumble this week. Wall Street is always falling in and out of love with Amazon. In the online retailer’s 10-year [...]
In a flush on the fairway October 28, 2005 Card schools and golf clubs are big news for singles right now. Lorraine Adams holds the winning hand for a birdie Would you believe that the most sought-after events this year have been our poker nights and golf days? Even those who don’t know how to play poker or golf are desperate to buy up [...]