News

Your daily news update straight from the City PM newsroom in London

Boost for Clinton Cards from Halloween sales phenomenon

November 26, 2009

GREETING cards retailer Clinton Cards yesterday reported that its like -for-like sales for the 16 weeks to 22 November have jumped by 3.9 per cent, aided by a solid performance across all product categories and exceptional Halloween sales. Clinton Cards – which sells flowers, gifts and Halloween outfits in addition to its card selection – [...]
DSG enjoys a window of opportunity

November 26, 2009

DSG International, the electricals retailer yesterday reported a recent surge in sales helped by store upgrades and consumer demand for Microsoft’s new Windows 7, giving it confidence for Christmas. DSG, which runs the Dixons, Currys and PC World chain, said sales at stores open at least a year fell four per cent in the 24 [...]
Number of shops lying empty drops as City take-up improves

November 26, 2009

The number of shops lying empty in the UK’s prime retail areas has fallen for the first time this year according to property adviser Cushman & Wakefield. Central London has one of the lowest levels of availability as the capital retains its reputation as a shopping destination. But shops in the City have not fared [...]
City types head out for a slippery slurp

November 26, 2009

IT WAS off to Mansion House for many in the City yesterday for the annual Guinness and Oyster Lunch, which has been a tradition in the Square Mile for nigh on half a century. New Lord Mayor Nick Anstee kicked off the proceedings with a rousing speech, swiftly followed by the face of Guinness maker [...]
Star manager Bolton heads to Asia to launch Fidelity fund

November 26, 2009

FIDELITY fund guru Anthony Bolton is returning to money management next year with the launch of a new portfolio investing in China. Bolton, one of Britain’s best-known fund managers, was nicknamed the “silent assassin” for taking boardroom scalps during his outstanding 28-year run at the head of Fidelity International’s Special Situations fund. He relinquished leadership [...]
M&B toasts a dining uplift

November 26, 2009

PUBS group Mitchells & Butlers yesterday said it was optimistic about Christmas trading as it switched to a food focus to compensate for slower drinks revenue. The group said that it has recently introduced its “winter menu” to take advantage of the rise in consumer confidence, which has sparked people to splash out on good [...]
ANALYST VIEWS: IS THERE HOPE FOR THE PUB INDUSTRY?

November 26, 2009

JAMES DAWSON CHARLES STANLEY SECURITIES“M&B has echoed the positive news from most of the other players in the market – Capital, Young’s and Fullers – and its result has reinforced this confidence. But the consumer market is quite fickle and until they are sure about the state of their personal wealth then drinkers will still [...]
Hitachi eyes up France’s TGV

November 26, 2009

JAPANESE train manufacturer Hitachi is expected to bid against the French-built TGV in its home country for a rolling stock contract in a move that would target the world’s biggest rail market. The Tokyo-based manufacturer of the 186 mph (300 kph) Bullet Train is expected to offer the latest Shinkansen-series model in a bid to [...]
BHPchairman says talks with Rio are still on track

November 26, 2009

DON ARGUS, chairman at mining giant BHP Billiton, said yesterday the company’s proposed iron ore tie-up with Rio Tinto was progressing and dismissed suggestions talks could fall apart. At the group’s annual meeting in Australia he said he was optimistic because “while we believe the global recovery will be sluggish, we also continue to believe [...]
Tata expects improvement for next year

November 26, 2009

TATA Steel posted a second consecutive consolidated quarterly net loss yesterday, but the world’s eighth biggest steelmaker by output said it expects a sharp improvement in the second half of the fiscal year to March on reviving demand. Corus, Tata’s European unit, has struggled as the global downturn has hit demand from key industries such [...]