Life in the fast lane on the Cote d’Azur November 16, 2009 ANYBODY with even a passing interest in Formula One motor racing will have seen the Fairmont Monte Carlo hotel, although they may not realise it. The hotel is perched on the edge of the harbour and forms the famous tunnel, one of the best known parts of the Monaco Grand Prix circuit. For anyone keen [...]
Motown and soul-food come to the home of the jet set November 16, 2009 THERE’S a reason that Monte Carlo is known as the playground of the rich and famous. Not only is it home to some of the world’s wealthiest men and women – Philip Green, Shirley Bassey, EasyJet’s Stelios and David Coulthard are among the principality’s residents – but it also draws an entire firmament of stars [...]
EXBARRISTER FINDS A RAFT OF USES FOR CITY’S USELESS BANKERS November 16, 2009 A RATHER quaint looking little book lands on The Capitalist’s desk and promptly causes a bit of a stir. Said tome has been penned – if you can call it that – by Alex Steuart Williams, a former barrister turned cartoonist and feature film animator (with movie credits such as The Lion King and Harry [...]
DISCERNING EYE November 16, 2009 Gerlach Jacobs, chief executive of INGWholesale Banking in the UK and Middle East, with ING’s UK head of comms Adrian Simpson and Eli Gregan-Jones of Standard Bank – the lucky winner of City A.M.’s recent competition to win £1,000 worth of art on display at the ING Discerning Eye exhibition. The exhibition, on at the [...]
Car Giant drives into the red but sees more models leave the showrooms November 16, 2009 CAR GIANT, the west London-based vehicle warehouse, plunged into loss-making territory last year, it emerged yesterday. The company was down £57,000 compared to profit in 2007 of £2.4m, despite increasing the number of used cars it sold by three per cent. It shifted nearly 50,000 hatchbacks and saloons over 12 months against a backdrop of [...]
Shares inUBCsoar after it cuts its pre-tax losses November 16, 2009 Shares in UBC Media soared 41 per cent yesterday after the radio content supplier said its first-half pre-tax loss had narrowed by 51 per cent to £258,000. UBC Media, the largest independent producer of radio programming for the BBC, reported group revenue up nine per cent to £1.94m and announced a maiden dividend of 0.102p [...]
GM starts to pay state aid back early November 16, 2009 AILING US car giant General Motors (GM) yesterday said it would start repaying $6.7bn (£4bn) in government bailout loans, as it reported a smaller than expected $1.2bn loss for the three months to the end of September. In its first set of results since emerging from bankruptcy in July, the owner of Opel and Vauxhall [...]
GE Capital agrees loan with Jaguara November 16, 2009 JAGUAR Land Rover (JLR) yesterday secured a £170m working capital facility from GE Capital. The five-year loan will help the money-losing car company, owned by India’s Tata Motors, as it is struggles in the global financial downturn. The loan will be drawn down as soon as vehicles are made in its three UK production lines. [...]
MBL announces a tie-up with US giant Best Buy November 16, 2009 MBL shares rocketed yesterday after the UK distributor of home entertainment products said it had signed a contract with US retail giant Best Buy for the exclusive supply of its DVDs, BluRay disks and CDs. MBL shares closed up 9.62 per cent at 171p. The contract between MBLand Best Buy is for an initial period [...]
Kenmore starts sell-off November 16, 2009 Property fund Kenmore European Industrial – part of collapsed property firm Kenmore – yesterday announced it had sold a Paris property for €1.14m (£1.01m) in a bid to raise cash. Managing director Rob Brook, who is believed to be working on a management buyout of the firm, said that the sale demonstrated the group’s strategy [...]