All City & finance articles – Page 592
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News
Lord Sainsbury moves shares ahead of CGT change
Lord Sainsbury said last night that he had reshuffled his stake in the grocer founded by his family in advance of changes to capital gains tax (CGT) that come into effect on Saturday, according to The Guardian .
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News
M&S to take majority stake in India joint venture
Marks & Spencer is poised to take majority control of a joint venture to be created imminently with Indian powerhouse Reliance Retail.
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News
Tesco halts roll-out of Fresh & Easy
Tesco has halted the roll-out of its US convenience store chain Fresh & Easy, fuelling renewed speculation about its performance on the West Coast, according to The Sunday Telegraph .
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News
Alexon profits rise as sales fall
Fashion group Alexon increased its operating profit before exceptionals to 10.5 million in the year to January 26, 2008, from 9.9 million the previous year.
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Opinion
Credit crunch is not over yet
It looks as if the credit crunch has claimed its first big retail scalp. Last week, US book- seller Borders had to seek emergency funding to the tune of US$42.5 million (£21.3 million) from shareholder Pershing Square.
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News
Private equity buyer closes on The Works
Troubled bargain bookseller The Works is on the verge of being sold to a private equity house for just 15 million.
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Analysis
What does the downturn mean for retailers?
If any retailer remains doggedly optimistic about consumer spending, it’s time to think again. As Katie Kilgallen discovers, in an exclusive poll by ICM for Retail Week, the facts speak for themselves.
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News
Clinton profit hike bucks market
Greeting cards giant Clinton Cards registered an 18 per cent jump in adjusted net pre-tax profits in the half year to January 27.
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News
EU probes Visa charges
The EU is to investigate the fees levied by Visa on cross-border credit and debit card transactions, it was announced today.
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News
Laura Ashley ups stake in Moss Bros
Laura Ashley raised its stake in troubled menswear retailer Moss Bros yesterday for the fifth time this month.
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News
CBI forecasts consumer spending slowdown
The CBI believes that the outlook for consumer spending has deteriorated significantly because surging import prices have eroded shoppers’ purchasing power.
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News
Marks & Spencer creates central European joint venture
Marks & Spencer has created a joint venture in central and Eastern Europe with its local franchise partner and will open 30 more shops there.
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News
Somerfield sale in jeopardy
The planned 2 billion sale of Somerfield could be dropped after only one bid was tabled by the deadline at the end of last week.
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News
Blacks forced to speed up Sandcity merger plan after accounts debacle
Blacks Leisure will bring forward some of its recovery plans following the emergence of accounting discrepancies of about 2 million at its Sandcity subsidiary.
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Opinion
Retail has grown to giant proportions
“Until now, retailing has been an economic giant, but a political pygmy.”
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News
Ted Baker: the city view
Idiosyncratic fashion retailer Ted Baker bucked the gloomy trend with a strong set of prelims, writes Lisa Berwin.
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News
Retail takes body blow as stocks plunge after Bear Stearns crisis
The whole market slumped as US investment bank Bear Stearns became the latest credit crunch victim and retailers were again hit hard as brokers fretted about the outlook for the consumer economy.
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News
Schuh completes refinancing
Schuh is understood to have completed a 36 million refinancing package, provided by the Bank of Scotland.
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News
Poor weather threatens Easter sales
The eight days of Easter are expected to be worth 8 billion to UK retailers, but poor weather means they are likely to fare worse than last year.