Dr Pepper and Unilever warned by FDA September 7, 2010 THE US Food and Drug Administration (FDA) yesterday warned beverage makers Dr Pepper Snapple and Unilever about making improper statements regarding green tea on product labels and web sites. In a letter dated 30 August and released yesterday, the regulator said Dr Pepper’s Canada Dry Sparkling Green Tea Ginger Ale was misbranded because the product [...]
CITY MOVES | WHO’S SWITCHING JOBS September 7, 2010 Deloitte The accountancy firm has appointed UK partner Chris Harvey as the new head of its financial services group. Harvey has been a partner since 2002 and has been global head of banking and securities since 2008. He will focus on growing the financial services business in Asia, Latin America, the Middle East and Eastern [...]
BEST OF THE BROKERS September 7, 2010 BRITISH AIRWAYS UBS expects that British Airways’ (BA’s) strong yield recovery will continue until the end of the year after the airline showed a strong yield delivery in the first quarter, up 13.5 per cent, and surpassing European rivals. UBS said that BA is trading well post its year-end results and continues to rate the [...]
SPEARMINT RHINO BOSS RETURNS TO CLUB SCENE September 7, 2010 AMID all the talk of a strict clampdown on City jaunts to strip clubs, it comes as something of a surprise for The Capitalist to learn that another such den of iniquity popped up this week claiming to be the classiest table dancing joint in town. That’s right, folks, it’s back – courtesy of founder [...]
Foreign takeovers of UK companies drop September 7, 2010 Foreign takeovers of British companies slumped in the second quarter of 2010 to their lowest in a year, falling to £2.3bn in the second quarter from £14.8bnin the first three months of the year, official data showed. The Office for National Statistics said that by contrast, takeovers by British companies rose over the quarter, though [...]
Tube strike causes gridlock and costs economy £48m September 7, 2010 Millions of commuters across London struggled to get to work on Tuesday as a 24-hour strike by workers on the underground rail system crippled much of the network, hurting the city’s convalescent economy. Passengers took to bikes, buses, walked, or made use of extra boat services on the Thames that runs through the city in [...]
Connaught “on brink of administration” September 7, 2010 Connaught, the property services group that specialises in social housing, is on the brink of going into administration, the BBC has reported. The company, which employs 10,000 people, has suspended trading of its shares, and said a further announcement would be made “in due course”. Connaught has £220m of debt, provided by six banks and [...]
Sports Directs sales hike fuelled by World Cup September 7, 2010 Sporting goods retailer ports Direct posted an 8.8 per cent rise in first-quarter sales – fuelled by the World Cup in South Africa The firm, in which Newcastle United club owner Mike Ashley has a 71 per cent stake, said on Tuesday sales were £408m in the 13 weeks to July 25, up from £375m [...]
Whitbread boosted by Premier Inn September 7, 2010 Britain’s biggest hotel operator Whitbread said it was confident for the full year after its budget Premier Inn chain saw a surge in demand from business customers and Costa Coffee delivered strong growth. Whitbread, which also owns the Beefeater and Brewers Fayre pub restaurant chains, said comparable sales across the group were up by 7.9 [...]
Ocado sales surge by 30pc after flotation September 7, 2010 ONLINE grocer Ocado reported a 30 per cent jump in third-quarter sales as it seeks to boost confidence in the business following a turbulent initial public offering (IPO) in July. Ocado, whose shares are trading 13 per cent below an IPO price which had already been cut by almost a quarter from the company’s original [...]