Greek banks to raise cash November 1, 2010 GrEece’s Marfin Popular announced plans yesterday to raise €1.15bn (£1bn), making it the third Greek bank to opt for a cash call to boost capital ratios, while a fourth, Eurobank, said it was looking instead to sell a chunk of its Polish unit. Big cash calls by National Bank of Greece (NBG) last month and [...]
Hovis advert collects major industry award November 1, 2010 Advertising agency MCBD last night scooped the top award at the prestigious IPA Effectiveness Awards. TV spot advertising for the campaign featured a young boy carrying a loaf of bread through northern streets at the time of historical events including the sinking of the titanic, suffragette marches, the first and second world wars and the [...]
Lazy funds abound in London November 1, 2010 Around £450bn of “lazy funds” are sitting on the sidelines, waiting to be invested in London, according to a professor at Cranfield University’s school of management. Andrew Kakabadse and his team interviewed more than 20 senior executives on their investment decisions and concerns to arrive at the sum, and argue the government is not doing [...]
US publisher faces bankruptcy November 1, 2010 The American publisher of The National Enquirer and Men’s Fitness said yesterday it plans to file for bankruptcy protection within the next two weeks. American Media said it will continue to operate as normal during an expected two months under Chapter 11 protection while it restructures. The company undertook a debt for equity swap last [...]
EX-SEYMOUR PIERCE BOSS TO LAUNCH NEW ADVISORY VENTURE November 1, 2010 A FEW short months ago, this column brought you murmurs that corporate financier Richard Feigen – who resigned as managing director of broker Seymour Pierce at the beginning of the year after an internal investigation, admitting that errors had occurred in a transaction he was overseeing – was mulling a return to the City. Fast [...]
Barracuda looks to Costa to fuel sales November 1, 2010 BARRACUDA is to launch Costa coffee at its pub estate – and will now open at 9am for breakfast. Costa coffee is expected to be available in 100 of its 217 pubs by Christmas with the rest launching in 2011. Barracuda, which also has the Smith & Jones brand, is pursuing a more food-focused policy [...]
Kurt Geiger moves to boost footprint in overseas market November 1, 2010 DESIGNER shoe company Kurt Geiger yesterday announced that it would be opening 32 branches opening across Russia, Turkey and Malaysia over the next five years. The move will mean more than double the current number of international branches across Europe and the Middle East. Kurt Geiger has signed a partnership deal with Fashion Galaxy Group [...]
Heinz threatened with strike as row over ‘below inflation rise boils over November 1, 2010 HEINZ workers could be balloted for strikes in a pay dispute, the Unite union warned yesterday. Unite said its members at the food giant’s site in Wigan were calling a vote in protest at a below inflation rise this year and a capped increase for next year of three per cent. Jennie Formby, Unite national [...]
John Lewis set to beat forecasts November 1, 2010 John Lewis yesterday said it would beat its four per cent sales growth forecasts for the current half-year, declaring its core, middle-income shoppers will be less hurt by the government’s spending review than first feared. Retail director Andrew Murphy said the balance between spending cuts and tax rises meant his customers could still afford to [...]
ASDA appoints new top exec November 1, 2010 Asda yesterday announced that experienced retailer Simon King will join the WalMart-owned supermarket business as its new chief operating officer in January 2011. He is currently the chief executive of supermarket and hypermarket operator Panda Retail, a subsidiary of The Savola Group, based in Saudi Arabia. Until 2009 he was chief of Tesco Kipa in [...]