At 8:38 am, the benchmark FTSE 100 index was up 10.92 points ot 0.17 percent at 6,599.35 points. The government said an initial sale of shares in the state-run postal service will occur within weeks. “Her Majesty’s Government today announces its intention to proceed with an initial public offering of Royal Mail,” said a joint statement, which added that the IPO is “expected to take place in the coming weeks”. Royal Mail is to list on the London Stock Exchange, while the coalition government said it would “retain flexibility around the size of the stake to be sold”. The government had in July announced plans to privatise more than 50 percent of Royal Mail following a major restructuring of the organisation in recent years, triggered by fierce competition from email. Royal Mail was expected to be Britain’s biggest privatisation since the 1980 sell-offs of former nationalised giants British Gas and British Telecom. Media reports say the part sale of Royal Mail could be worth up to ??3.0 billion ($4.74 billion, 3.57 billion euros). The government previously said that it would take on Royal Mail’s historic pension deficit. William Morrison shares jumped 3.67 percent to 308.10 pence as the supermarket chain announced flat interim sales and lower profit but raised the interim dividend by 10 percent to 3.84 pence per share. The company said turnover was steady at ??8.9 billion pounds in the six months to August 4, though with like-for-like store sales dropping 1.6 percent and pretax profit sinking to ??344 million from ??440 million in the year-earlier period. “We anticipate an improvement in our sales performance during the second half and accordingly the board believes the group’s performance for the full year will be broadly in line with its previous expectations,” Morrisons said.
London Fashion Week SS14 Day 2 highlights
Here are a few of our highlights from the spring/summer 2014 collections showcased: Zoe Jordan was worth getting out of bed and braving the rain for, as the designer presented a clean, chic, predominantly pastel collection with attitude. Sporty yet chic and feminine; the skater styles were a particular favourite, which just goes to show that you can do grunge the feminine and effortless way, too. Who needs catwalk shows when you have a cute, private little show space to do whatever you want with? Orla Kiely has once again exceeded all expectation with her spring/summer 2014 offering, showing an instantly loveable and wearable 70s safari themed collection. From the Moonrise Kingdom references to the soundtrack to the giraffe prints on the dresses there was no mistaking the theme or inspiration of this collection. It was all about the ps over at Ashley Isham Perspex, precision and PVC. Block colours are back, but with the added bonus of sparkle; and trust us sparkle is always a bonus! Trains were long, flowing and embellished, and Holly Fulton Hair and make-up atHolly Fultonwas inspired by the seventies theres something very Saved by the Bell about it while the clothes themselves were reminiscent of an era of the past with a futuristic twist. Akin to some of the other collections this season, pleats were prominent, as were geometric prints and denim. Mark Fast The slight bondage theme was also apparent at Mark Fast, although it was bondage meets bandage meets grungy goth cyber chick all under one stylishly monochrome and neon umbrella. If you wanted fierce black hair and make-up, Mark Fast was the place to be! Strictly Come Dancings newest recruit Julien Macdonald presented yet another lust-worthy collection comprised of fierce and ultra-glamorous red-carpet looks (we expected no less!) while the signature House of Holland prints reigned supreme for yet another season, as expected. Julien Macdonald Protect your skin from sun damage using SPF15 clinique makeup About us Welcome to My Fashion Life! Launched in 2003 My Fashion Life is one of the UKs leading top fashion blogs.