News roundup—30th September 2008

News roundup—30th September 2008

Workers at Redcats are voting whether to strike as a
result of a zero per cent pay increase, reports the Wakefield Express. Mary Creagh, a local MP,
said Redcats’ decision added “insult to injury at a time
when food and fuel prices are sky-rocketing.”

Stodir, an Icelandic investment company and the biggest
shareholder in Glitnir Bank, has said it had filed for
administration after the Icelandic government took a 75 per cent
stake in the bank. Stodir is controlled by entrepreneur Jon
osgeir Johannesson, who also controls retail conglomerate Baugur.
The Financial Times reports that it is
“unclear what repercussions the administration of Stodir
would have for Baugur and its retail investments”. In the
UK these include apparel retailer Karen Millen and toy
store Hamleys.

“Tesco defies credit crunch with sales and
profit rise”, writes the Guardian. The supermarket giant’s UK
like-for-like sales climbed 6.7 per cent in the 26 weeks to 23rd
August, and 3.7 per cent excluding petrol. The first quarter
showed growth of 3.5 per cent, rising to 4 per cent in the second

Healthcare Digital
reports on specialist healthcare
investment company MDY Healthcare’s pre-close trading
update in which it announces the launch of Trust William, its
joint venture with pharmaceutical firm William Ransom &
Son. Trust William sells natural healthcare products direct
to consumers via the web and catalogue.

London-based beauty retailer SpaceNK has gone live with a relaunched
website built using MarketLive’s eCommerce suite. In August,
Space NK announced a deal with Bloomingdale’s, with nine
stores set to open in the US before Christmas 2008 and the rest
to roll out by 2010., the eBay-owned shopping comparison
network has redesigned its website and
closed its 2005 entrant into the market
as it streamlines its operation writes Netimperative.

QVC is expanding its international presence and will
launch in Italy in two years reports Bizjournals. With Italy, QVC will have four
international shopping channels, along with the United Kingdom,
Germany and Japan.


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