BRIGHT SPARK

The City hailed the hiring of Shop Direct boss Alex Baldock (pictured) to run Dixons Carphone.

Shares in the electricals and phones firm jumped nearly 7% yesterday as it confirmed Baldock, who helped transform very.co. uk owner Shop Direct into an internet heavy hitter, as its new CEO. He replaces Sebastian James, who is leaving to run Boots the Chemist.

Strong iPhone sales helped UK revenues at Dixons Carphone rise 3% in the 10 weeks to early January.