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Online fashion retailer Asos has turned to Marks & Spencer for again by hiring former finance director Ian Dyson.

No Pain, No Gain: Received wisdom fails to predict a pubs bonanza

The stock market, as befits a long established institution, is awash with well-meaning advice, purporting to offer investment guidance. "Never average down" and "Always adopt a strict stop-loss policy" are two of the most widely quoted. Yet anyone who blissfully ignored those two overworked pieces of investor folklore would have made a killing if they had played in the shares of a company in one of the most unfashionable corners of the City.

The Investment Column: Pubs sector: Time to buy a round

Hold BTG for a potential tonic from its lawsuits; Efes targets London investors in float plan;

Get some in at Punch Taverns

Hold on to copper-bottomed Antofagasta; Cut losses and jump out of Tadpole Technology

Byers imposes conditions on Allied pub sale

STEPHEN BYERS, the Secretary of State for Trade and Industry, yesterday effectively approved the buyout by Punch Taverns and Bass of Allied Domecq's 3,500-strong pub estate.

Enterprise Inns profits soar 60% on pub acquisitions

ENTERPRISE INNS, the UK's only listed independent pubs company which owns about 4 per cent of the country's pubs, yesterday reported a 60 per cent rise in its underlying pre-tax profits driven by a series of successful acquisitions.

Whitbread set to offer pounds 550m for Swallow's hotel chain

SWALLOW, THE UK hotel operator formerly known as Vaux, is today expected toconfirm that it is in talks regarding a possible takeover by Whitbread, the brewing and leisure group.

On the up: Allied Domecq

ALLIED DOMECQ's shares rose 12 per cent last week after it completed the sale of its 3,500 pubs to Punch Taverns. Shedding the business now allows Allied to focus on developing its liquor brand, but it is still a long way behind Diageo, the world's biggest spirits company. It needs to increase its size and scale to compete effectively.

Market Report: Next's smart rise leaves the rest looking dowdy

DEALERS FLOCKED to Next yesterday as talk of buoyant sales and bullish analysts' notes swirled around the clothes chain. The stock rose smartly throughout the afternoon and settled 9p higher at 748p as buyers did their shopping ahead of forthcoming interim results.
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