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The Business Matrix: Monday 16 September 2013
Fashion Week star Kane's shop slot
The designer Christopher Kane, a star of London Fashion Week, has secured a spot for his first shop. He and his sister, Tammy, who will unveil their London catwalk show today, have chosen Mayfair's Mount Street for a store which will open next year. Mount Street has attracted a raft of new designers who have shunned the more-established Bond Street.
Amazon faces more taxing times
Online retail giant Amazon, dogged by controversy over its UK tax affairs, is now in the sights of European regulators. The European Competition Commission has written to officials in low-tax EU countries including Luxembourg, The Netherlands and Ireland seeking details of tax agreements struck with companies basing their offices there, such as Amazon.
Fed to taper QE as US picks up
The US Federal reserve is poised to mark a turning point for the world's biggest economy this week as it is expected to announce a slowdown in its $85bn (£53.5bn) a month quantitative easing programme. It is believed outgoing Fed chief Ben Bernanke will urge colleagues to order the gradual reduction of the programme. The Independent on Sunday
Co-op bank losses are challenged
The Co-operative bank has been accused of exaggerating its losses in to panic creditors into accepting a rescue deal. The claim is being made by bondholders who could suffer massive losses on their Co-op debt if the rescue deal goes through. However, the company is adamant the financial position they have given to creditors is true and accurate. The Sunday Times
Investors target Diageo's old boss
An investor revolt is brewing this week over the £18.2m pay package for Paul Walsh, the former chief executive of drinks giant Diageo. Shareholder advisory firm Manifest has accused the firm of awarding its executives "excessive pay". On Thursday the board will be in the firing line at Diageo's annual meeting. The Mail on Sunday
Legal fight threat to Royal Mail
TNT is set to challenge the 20 per cent VAT exemption given to the Royal Mail as "universal provider" of British postal services. A November date has been set for the High Court hearing which will see TNT argue that the VAT exemption given to the Royal Mail is against European rules. The Sunday Telegraph
Petra looks a diamond add
Costs have to be tightly controlled for a miner to make a good profit, but analysts think Petra Diamonds has managed just that. So although earnings might be a little behind the same time last year when it reports its full-year results today, Rob Broke at Westhouse, maintains his add recommendation.
High hopes for Crest Nicholson
Investors expect housebuilder Crest Nicholson to report strong trading at its update tomorrow driven by Help to Buy and an improving economy. Analysts at Peel Hunt reckon further shares will be placed in the market following the end of the lock-up period, so investors will be paying close attention.
Redrow's results show it's a winner
Housebuilder Redrow's results on Wednesday are likely to show it is one of the winners from the Government's Help to Buy scheme and other initiatives. Analysts at HSBC think the "smaller listed" players offer a "compelling structural growth opportunity" and rate Redrow a buy with a 320p price target.
Spotlight on Gulf Keystone
The Aim-listed oil explorer Gulf Keystone Petroleum will unveil its results on Thursday. The Kurdistan-focused company, last week hired Deutsche Bank to help it make its move to the main list. The retail investors' favourite also last week won a court case over the ownership of its Kurdistan fields.
- 1 Is this bridge haunted by the ghost of nu rave?
- 2 The West has it totally wrong on Lee Kuan Yew
- 3 The day I starred in Only Fools and Horses
- 4 Scientists have discovered a simple way to cook rice that dramatically cuts the calories
- 5 Zayn Malik quits One Direction: Hundreds of workers request compassionate leave following band member's exit