Published 06/01/2014 | 02:30
MARKS & Spencer has suffered its third disappointing Christmas in a row with a much-vaunted revamp of its clothing range failing to stop sales declining, figures are expected to show this week.
The 130-year-old high-street retailer is set to report a drop in general merchandise like-for-like sales of at least 0.5pc for December, with some analysts forecasting a 1.5pc drop. However, food sales are forecast to rise 2pc.
Sunday Business Post
THE head of every government department has been warned that spending will be tightly controlled, and further "economies and efficiencies" found in the coming years.
In the days before the official end of the bailout period, Robert Watt, secretary general of the public expenditure department, wrote to all departments bluntly telling them further cuts to many budgets would be necessary.
IRISH house builder New Generation Homes has spent "over €100m" buying up a vast land bank around Dublin to build new houses in one of the biggest gambles on the property market recovery yet seen. The firm is headed up by Arklow man Greg Kavanagh (28). It is understood New Generation Homes recently raised money from US private equity firm Starwood, with earlier backing from Pacific Investments -- the buyout firm founded by British entrepreneur Sir John Beckwith, uncle of socialite Tamara Beckwith.
CONSUMERS are preparing to spend their way to recovery in 2014. The Irish public is convinced the economic recovery has begun and will spend more freely this year, even though they don't expect personal circumstances to improve. The Behaviour & Attitudes poll found less than one in eight expected an income rise this year.
Two internet security firms have reported that Yahoo's advertising servers have been distributing malware to hundreds of thousands of users over the past few days. The attack appears to be the work of malicious parties who hijacked Yahoo's advertising network.
THE independent investigation into the background to the £200m (€241m) capital blackhole at RSA Group's Irish operations is expected to conclude it was an isolated incident with no further writedowns needed. Accountancy firm PwC, which has been leading the probe, is due to say it occurred despite strict governance controls being in place.
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