Burberry sues US retailer JC Penney accusing it of trademark infringement over coats, jackets and scarves allegedly featuring the “Burberry check” pattern February 9, 2016 British luxury fashion brand Burberry has filed a complaint against US retailer JC Penney, accusing it of trademark infringement for selling coats and jackets bearing exact copies of the "Burberry check" pattern. Burberry has accused the company of illegally selling quilted jackets with the pattern, as well as "scarf coats" in which scarves carrying the pattern were sold [...]
Standard & Poor’s lowers ratings on four US banks with large energy exposures as oil prices stay weak February 9, 2016 Standard & Poor's (S&P) has lowered its long-term issuer credit ratings on four US regional banks with large energy exposures. The ratings agency took action after a review of banks with large energy loan portfolios as a percentage of both total loans and Tier 1 capital. "We are in the early innings of the downturn, [...]
Brave or foolhardy? US Foods shrugs off market turmoil to file for IPO February 9, 2016 US Foods, the US' second-largest food distributor, has just filed for a $100m (£69.1m) initial public offering (IPO) – despite two days of turbulent global trading. In a filing with the US Securities and Exchange Commission (SEC) today, US Foods said it will float on the New York Stock Exchange under the ticker symbol "USFD". The company [...]
Walt Disney Company share price drops despite record earnings in the first quarter driven by new Star Wars film as revenue misses expectations February 9, 2016 The Walt Disney Company has reported its highest ever quarterly earnings of $2.9bn (£2bn), up from $2.2bn in the first quarter of 2015, driven largely by the success of the latest Star Wars film. However, shares dropped by over four per cent in after hours trading as revenues of $15.2bn, up from $13.4bn, failed to [...]
US stocks on the Dow Jones, S&P 500 and Nasdaq close lower after a rollercoaster ride of a day February 9, 2016 US stocks finished lower after a nail-biting ride, following massive selloffs across other global markets. The Dow Jones closed 13 points – 0.08 per cent – lower, at 16,014 points, while the S&P 500 finished just over one point lower, at 1,852. The Nasdaq, which includes many of the US' largest tech stocks, fell 0.32 [...]
British Airways will start flying from Stansted in May 2016 – as BA boss Willie Walsh admits grudging admiration for Ryanair boss Michael O’Leary February 9, 2016 British Airways is adding a fourth London airport to its network and will start flying out of Stansted from 28 May onwards. The company's subsidiary BA CityFlyer will operate routes to Faro, Malaga, Palma and Ibiza out of the airport, located in Essex, which is a massive base to budget airline Ryanair. "Stansted is a growing airport [...]
Pandora shares lose their shine after jeweller forecasts sales slowdown in 2016 February 9, 2016 Shares in Pandora have slumped by seven per cent after the Danish jewellery firm warned of a slowdown in revenue growth over the coming year. The charm bracelet-maker forecasts sales to rise by 14 per cent to 19bn Danish kroner (DKK) in 2016 compared with a jump of 28.9 per cent at local currencies to [...]
Barclays poaches new chief operating officer Paul Compton from JP Morgan Chase February 9, 2016 Barclays has poached Paul Compton from JP Morgan Chase to act as its new group chief operating officer. The banking giant said Compton, currently chief administrative officer at JP Morgan, will start the newly-configured role in May. In a statement today it added Compton will be responsible for operations and technology, structural reform, cost transformation, major [...]
Lonmin chief executive Ben Magara: Firm won’t shy away from merger or takeover February 9, 2016 Embattled platinum producer Lonmin has said it isn't averse to a merger or takeover, as the commodity price rout shows no signs of letting up anytime soon. The South African company's increasingly tough business environment has stoked speculation among analysts that it could become involved in some kind of deal activity in the future. "We are continually looking [...]
Grainger joint venture goes on £57m west London buying spree February 9, 2016 Grainger and Dutch pension fund APG have bought a large residential estate near Kew Bridge in west London for £57.3m, as the pair continue to expand their presence in the private rental sector (PRS). GRIP, the residential property fund set up by Grainger and APG in 2013, has acquired the freehold of Kew Bridge House [...]
