CITY VIEWS: IS IT RIGHT THAT MCDONALD’S WILL BE THE ONLY FOOD SPONSOR AT THE OLYMPICS ? August 12, 2009 GEORGE WILLIAMSON WELBECK GROUP“Absolutely ridiculous. The whole ethos for the Olympics is a sporting and healthy environment. To restrict all branding of food to McDonald’s is too much. This is our Olympics and we should want to give it a British feel, not one of a world wide franchise.”NICHOLAS YIALONITES NEW YORK EXCHANGE“It’s not good [...]
Sky Digital Media terminates sales contracts with 23 sports websites August 12, 2009 BSkyB’s digital sales house said yesterday that it will stop selling ads for 23 third-party sports sites as it moves to focus its resources on increasing revenues. The sites due to be terminated comprise mainly of small rugby, gymnastics and niche fan sites, and make up just 1.8 per cent of Sky Digital Media’s (SDM) [...]
TUI warns of poor winter sun demand August 12, 2009 DEMAND for summer holidays is holding up in the recession, Thomson owner TUI Travel said yesterday, but it warned the winter season could be bleak. TUI said that a surge of late-bookings, prompted by dismal British weather, has left the group with fewer summer holidays left to sell than last year. Late summer bookings contributed [...]
HMRC gets access to offshore funds August 12, 2009 HM REVENUE and Customs (HMRC) will be able to access the offshore accounts of UK citizens with accounts at more than 300 banks, after it secured “production orders” forcing lenders to disclose the information. HMRC continued its campaign against tax evasion with the orders, which will also see the 308 affected banks required to pass [...]
Collapse in commodities ends BHP’s record run August 12, 2009 BHP Billiton, the world’s largest miner, yesterday reported a 30 per cent slide in annual profit excluding writedowns, its first fall in seven years, pummelled by a slump in metals prices and demand. It said there were emerging signs of demand improving in North America, Europe and Japan, but said it was too early to [...]
FT buys digital pension service MandateWire August 12, 2009 THE Financial Times has bought MandateWire, a London-based provider of information on European pension mandates for an undisclosed sum. The digital, subscription-based service analyses 2,000 EU pension funds and sends out details to analysts at fund management groups. An FT spokesman said the deal “further consolidates the FT’s global position with fund management groups, following [...]
WILL FEWER PEOPLE BE TAKING A WINTER BREAK IN THE RECESSION? August 12, 2009 SAM HART CHARLES STANLEYWinter 2009/10 is expected to be the toughest period in the current downturn, as winter holidays tend to be more discretionary than summer holidays. Bookings for winter appear to have got off to a slow start, but it remains early in the booking cycle and trading has strengthened in the last four [...]
Mitie acquires UK Dalkia arm August 12, 2009 UK maintenance firm Mitie said it had acquired the British arm of Dalkia, the outsourcing group owned by France’s EDF and Veolia for £130m and had raised £43m through a share placing. Mitie, which cleans the Tower of London, said it had acquired Dalkia Technical Facilities Management to boost the reach and depth of its [...]
Northgate wins placing support August 12, 2009 Northgate, the van hire company, yesterday said that 97.5 per cent of shareholders had backed its rights issue. The group wants to raise around £115m from a placing and rights issue to shelter it from the downturn, which has hit the value of its vehicles.
Norcros sees sales slightly down August 12, 2009 Shower and tile maker Norcros yesterday reported sales down 3.7 per cent at constant currency levels in the 18 weeks to 2 August. The company said in a trading update that its UK businesses had continued to perform well, but warned that its South African operations had been hit by falling demand.