Tiffany’s share price falls as it reports poor Christmas sales thanks to a strong dollar and weak tourist spending January 19, 2016 Jeweller Tiffany & Co saw its share price tank today, after reporting sales struggled over the Christmas period. Tiffany shares were trading down by around five per cent by late morning in New York. The figures Revenue in the two month holiday period over November and December fell six per cent to to $961m (£679m). On a constant exchange-rate basis, [...]
SCS shares soar as sofa chain hikes full-year profit expectations January 19, 2016 Sofa and floorings chain ScS’s share price has soared by almost 17 per cent after the company said it expects full-year profits to beat City forecasts. In an unscheduled update the retailer, which floated last year, said trading over the key Christmas and January sales period was strong within both its 97 ScS stores and 30 [...]
Stonewall top 100 employers: Three ways the City can become more inclusive, according to LGBT-friendly Lloyds January 19, 2016 The release of the top 100 employers for lesbian, gay, bisexual and transgender (LGBT) people, compiled by the charity Stonewall, is a moment for celebration and reflection. Ensuring a diverse workforce is now considered essential to the success of businesses right across Britain. There is a wealth of evidence that shows this makes good business sense and [...]
MySale shares jump as flash sales website backed by Sir Philip Green swings back into profit January 19, 2016 MySale, the Australian flash sales website 25 per cent owned by Sir Philip Green's wife Tina, has swung back into profit in the first half after blaming marketing and expansion costs for posting heavy losses last year. The UK-listed online fashion retailer, which operates in the UK, New Zealand, and Asia, as well as Australia, [...]
The UK clocked up £732m worth of fraud in 2015, up from £717m the year before, with crimes committed in London and the South East accounting for more than half the value January 19, 2016 Frauds in the UK in 2015 were worth £732m, up from £717m in 2014. A report out today by professional services firm KPMG, which studied fraud cases that reached UK courts with losses worth £100,000 or more, also discovered that the average value of fraud per case studied had risen to £2.4m, up from £2m in 2014. Crimes committed [...]
Johnson & Johnson cuts 3,000 jobs from global Medical Devices unit January 19, 2016 Healthcare giant Johnson & Johnson today announced it is cutting 3,000 jobs from Medical Devices business. The job losses will effect approximately four to six per cent of the division's 60,000 employees around the world, over the next two years. The Medical Devices unit covers orthopaedics, surgery and cardiovascular products. The cuts account for 2.5 per cent of [...]
Irish government debt falls below 100 per cent of GDP mark to 99.4 per cent, or €204.2bn in money terms January 19, 2016 General government gross debt in Ireland has fallen below the 100 per cent of GDP mark for the first time since 2011. According to figures released today by the Central Statistics Office, general government gross debt in the country for the third quarter of 2015 was €204.2bn (£157.2bn), which is 99.4 per cent of annualised GDP. [...]
Pound plummets to lowest value against the US dollar since 2009 January 19, 2016 The pound has fallen to its lowest value against the US dollar since 2009. Sterling rose in the morning to a value $1.43257 before Bank of England chief Mark Carney said now was not the time to raise interest rates. Carney also signalled he was some way off from voting for a rate hike. The pound [...]
British Land posts upbeat third quarter as London mayor Boris Johnson approves Norton Folgate plans January 19, 2016 Customers flocking to British Land’s shopping centres and ongoing demand for its offices helped the landlord deliver a strong performance in the third quarter, as the group also revealed that plans for a controversial Shoreditch scheme had been approved. The FTSE 100 property giant said retail footfall rose by two per cent over the Christmas quarter, with Meadowhall [...]
Phishing attacks soared 21 per cent in 2015 to cost cyber crime victims £174m in the UK alone January 19, 2016 Soaring phishing fraud cost victims £174m last year in the UK alone. Phishing, a kind of fraud wherein criminals pose as a legitimate source to gain access to personal data, has increased by 21 per cent in just a year, according to fresh crime statistics from Canada Police’s National Fraud Intelligence Bureau and [...]