How the ‘Biggest Mistake’ in Newspaper History Helped Fuel the World’s Largest Photo Competition
Electric car maker Tesla Motors drives into profit for the first time in its 10-year history, reporting a profit of $15m (£9.65m).
Continue reading here: Tesla Motors sparks up first profit
Three years ago BP’s Deepwater Horizon oil rig exploded in the Gulf of Mexico killing 11 workers and causing the worst environmental disaster in US history.
Originally posted here: VIDEO: Three years on from BP oil disaster
China’s Landing Investment Group to Make Large Scale Investment in Jeju’s Myth and History Theme Park
See the article here: Investment From Chinese Groups Rushes to Jeju
How Wall Street’s most outspoken CEO publicly dealt with one of the largest trading losses in history.
Go here to read the rest: The 10 stages of Jamie Dimon’s London Whale grief
Brand defies gloom on UK high street, selling more womenswear than menswear for first time in firm’s history
Ted Baker has defied the gloom elsewhere in the high street by posting a double-digit leap in profits.
Once known for selling garish shirts for young men, the brand has transformed into a high-end retailer for the fashion-conscious, with womenswear overtaking menswear sales for the first time in the company’s 24-year history.
Sales in the year to 26 January were up 18% to £254.5m, driving a 19.2% increase in pre-tax profits to £28.9m.
Ted Baker’s aggressive international expansion strategy has seen the retailer open its first New York store on fashionable Fifth Avenue. Stores have also been opened in China and Canada, with concessions in Germany and the Netherlands.
Sales in UK and European stores rose 11.1% to £165.1m, with retail space increasing by 5.7%.
Analysts said the results were in line with expectations. Freddie George, analyst at Cantor, said: “The strategy of accelerating development overseas through new stores and concessions appears to be working and is set to boost earnings growth over the medium term.”
BP is set to face civil proceedings over the 2010 Deepwater Horizon disaster, which killed 11 men and caused one of the worst oil spills in history.
See the article here: BP set for trial over Gulf oil spill