A round-up of today's other business news in brief
Costelloe deal on launch of menswear
Berwin & Berwin, the Leeds- based manufacturer and distributor of men's clothing, has signed a new licence deal with Paul Costelloe Design Management Ltd to launch a menswear collection
The collection will be launched initially in the British market, but will later be be extended to other countries.
A pilot range will be shown this month for autumn/winter 2007, but the main launch will be at the beginning of June for spring/summer 2008.
M&S posts further sales rise
British retailer Marks and Spencer finally hailed its recovery yesterday as it posted a sixth consecutive quarterly rise in underlying sales, but chief executive Stuart Rose warned the outlook was tough.
Marks and Spencer posted a 5.6 per cent rise in like-for-like sales in the 13 weeks to December 30th, broadly in line with expectations, after a strong advertising campaign and Christmas sales of cashmere jumpers helped it to gain market share.
"Cashmere and luxury stuff was in short supply and we exceeded our wildest expectations on that," Mr Rose said in a conference call. - (Reuters)
Trade boost for Germany
Germany's trade surplus hit a record high and growth in industrial output surpassed expectations in November, raising hopes the economy will come through this month's sales tax rise relatively unscathed.
Analysts are now increasingly confident that growth in the final three months of 2006 may have outstripped the quarterly expansion of 0.6 per cent in the July-September period. - (Reuters).
LSE defends itself against Nasdaq
The London Stock Exchange has brought forward a third-quarter trading update as it seeks to bulk up its defence against a hostile £2.7 billion (€4 billion) approach from US rival Nasdaq.
In an increasingly bitter battle for shareholders, Clara Furse, LSE chief executive, yesterday insisted the trading performance of the past 12 months highlighted the exchange's "increasing operational and strategic value".
Ms Furse added that the "excellent performance supports the board's rejection of Nasdaq's offer, which significantly undervalues the business and the exchange's unique strategic position". - (Financial Times service)
Ormonde release Spanish results
Ormonde Mining has released an update on its Barruecopardo tungsten project in Spain, saying the latest results highlight the potential for a new high-grade tungsten resource in the area.
It said positive results from scout drilling on the nearby Valdegallegos prospect indicated other possible tungsten zones in the immediate area.
Ormonde managing director Kerr Anderson said he was also encouraged by indications the tungsten price would remain high.
Domino's 2006 sales up 9.7%
Domino's Pizza has reported like-for-like sales growth of 13 per cent in the final six weeks of last year in Britain and Ireland, bringing total sales gain for the region in 2006 to 9.7 per cent.
In a trading update released yesterday, the company would not reveal figures for Ireland alone, despite saying in July that its Tallaght outlet was the first to report a $3 million turnover.
During the year, Domino's opened six outlets in the Republic and two in the North.
