Mothercare turnaround plan on track despite currency headwinds October 22, 2015 Mothercare's turnaround is on track after a solid second quarter performance, despite challenges from foreign currency headwinds. The childcare retailer, which is part-way through a significant overhaul implemented last year by chief executive Mark Newton-Jones, has grown UK like-for-likes 6.5 per cent, while total UK sales rose 1.8 per cent. Online sales under the former [...]
London Stock Exchange “confident” for 2015 after Worldpay IPO October 22, 2015 The figures The London Stock Exchange's revenue from continuing operations rose 12 per cent to £326.4m in the three months to the end of September, while headline income rose 85 per cent to £589.3m, it said today. This was buoyed by its information services division, where revenue increased 44 per cent to £133.7m, on the back of good growth at the FTSE and contribution from [...]
After Volkswagen crisis the next major corporate scandal is imminent – CIPD October 22, 2015 It won’t be long before the next major corporate scandal unfolds, according to research carried out by the CIPD, the professional body for HR and people development. During an investigation into ethical decision making in business, 29 per cent of company heads from across the world admitted to compromising on principles in order to meet [...]
SMMT British car manufacturing up 15.5 per cent from last September October 22, 2015 British car production is motoring away, with manufacturing in September up 15.5 per cent from last year. A total of 158,281 new cars were made in September, bringing the total for the year-to-date to 1.2m, a 3.3 per cent year-to-date increase on 2014, according to the latest data from the Society of Motor Manufacturers and Traders [...]
Fossil fuel firms could be misleading shareholders over forecasts for oil and gas demand – Carbon Tracker October 22, 2015 Fossil fuel firms may be misleading shareholders with optimistic forecasts for the future demand of coal, oil and gas to justify multi-billion pound investments, according to a report by Carbon Tracker. The energy industry’s current predictions for future fossil fuel could be skewed to the upside, because they underestimate changes in emissions policy, technological advances [...]
Valeant Pharmaceuticals slams scathing note on drug sales in bid to reverse share price spiral October 21, 2015 Under fire drug company Valeant Pharmaceuticals tried to halt its plummeting share price yesterday by hitting back at a damning note that questioned the medical firm’s relationship with specialty mail-order pharmacies . Valeant shares plunged as much as 30 per cent to $88.58 yesterday after Citron Research accused the company of fraud, saying it used [...]
Merlin and China Media Capital strike joint venture deal to open Legoland in Shanghai October 21, 2015 Madame Tussauds owner Merlin Entertainments announced that it has struck a joint venture agreement with China Media Capital to develop new attractions in China including a Legoland in Shanghai. Under the agreement, which was announced as part of Chinese President Xi Jinping’s state visit, the pair also plan to develop various other Merlin brands across China [...]
Lonmin share price dips as it reveals plans for cash call in the face of debt crunch October 21, 2015 Embattled Lonmin has become the latest miner to ask for cash from its shareholders, as it struggles with an unwieldy debt load taken on at the height of the commodities boom. The South African platinum producer outlined plans for a $400m (£259m) rights issue, which it needs for banks to agree to $370m in debt facilities that will [...]
NewRiver Retail eyes a move from Aim to the main market after £54m Punch Taverns deal October 21, 2015 Retail and pub landlord NewRiver Retail said a recent acquisition spree helped assets under management to top £1bn in the second quarter, paving the way for a move from Aim to the main market next year. NewRiver, which owns shopping centres including Regents Court in Leamington Spa and The Martlets in Burgess Hill, said assets [...]
London-listed Russian hypermarket chain Lenta raises $150m for expansion October 21, 2015 Russia's second biggest hypermarket chain Lenta has raised $150m (£97m) through the sale of new shares to fund its expansion, despite a tough economic backdrop at home. The London-listed company, which has 122 hypermarkets in 63 cities across Russia and 27 supermarkets around Moscow, said it sold 21.1m new global depositary receipts (GDRs) through an accelerated [...]