BGN Entrepreneur

Online shoppers helped to offset lower store sales at the UK’s second largest fashion retailer–Next. According to the company, it is said that it manage to keep on track to achieve its full-year forecast profits before the crucial Christmas shopping period.
According to Next, it is said that though retail sales from the company’s high-street stores fell by 3.3% in the third quarter, the sales through its online stores rose by 16.9%. As a result, the excluding VAT sales of the retailer were up by 3.3% in the quarter. It echos the retailer’s similarly upbeat half-year results and helping to counter some of the gloom surrounding the retailing sector.

Sony Corp is already struggling with a soaring yen and sluggish sales forecast of TV by almost a tenth to 20m sets in the US and Europe. However, as deluge in Thailand disrupt camera production, the Japanese company cut down its full-year operating profit outlook by 90% to the lowest level in three years.
According to people close with the company, it is revealed that the company is also thinking about dissolving its flat-screen venture with Samsung Electronics.

With replacement demand and improved supplies of Japanese vehicles offseting the economic uncertainty in the US, car sales in the country moved modestly higher in October.
However, both GM and Toyota fell short of expectations. GM is edging up by 1.9% from 2010, while Toyota is posting a 7.8% decline.
On the other hand, Ford sales just obtain a 6% rise and Chrysler gained a 27% rise, signaling the best October in four years for the smallest Detroit carmaker.

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The broker-dealer–MF Global was struggling to avert a collapse. According to people who are familiar with the situation, it is said that now the company is closed to making a sale of the bulk of its assets to Interactive Brokers Group.
As part of a complex end to a saga, the holding company for MF Global would be go bankruptcy due to threats of credit rating downgrades. Bankruptcy lawyers will be hired to prepare for the company’s demise.
Though no final deal has been reached yet after a tense weekend of talks, if it closes as originally planned, it would be a better outcome than many observers expected.

Alliance Boots entered into an unusual tie-up with the world’s biggest consumer goods company by sales–P&G in order to develop its nascent skincare business in Europe. Under the trial terms, P&G agreed to support the launch of the Laboratories Serum 7 skincare range of Alliance Boots in Italian pharmacy chains.
According to the chief executive of Alliance Boots’s pharmaceutical wholesale division–Ornella Barra, it was announced that the piloting collaboration had been very successful. Now Boots has extended the European skincare deal from Italy to four more countries: Spain, Germany, Austria and Switzerland.

An independent court in Australia has a permanent end to labor dispute, that all Qantas has ordered flights grounded. Fair Work Australia has a decision after hearing evidence from the airline, unions and government on an emergency meeting in Melbourne.

Qantas had wanted the ruling and said it expects some flights could resume within a few hours now. Nearly 70,000 people are affected by flight cancellations in 22 countries. Correspondents say the ruling will likely be a win for Qantas, which has sought to be seen long-running dispute with three unions ended, and the government wanted the stand-off resolved quickly.

On the surface of things it looks like a humiliation for Qantas CEO Alan Joyce as his airline again ordered into the sky – with established unilaterally by the airline management. But it could be in fact a strategic victory for Mr Joyce. After it has failed to get the main unions at Qantas (Porter, engineers and pilots) to lead to meaningful conversations, as a massive restructuring plan announced in August, have Qantas is the conflict has now been ordered by the FWA court to accurately to do that.
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