HERMES SET TO SPARKLE September 27, 2009 Luxury French fashion house Hermes is set to snap up jeweller Asprey’s Bond Street store for £75bn. Industry observers have viewed Hermes’ plans as the latest step in its business expansion. Contracts have already changed hands for the shop, owned by Quinlan Private. Quinlan private, run by Irish property tycoon Derek Quinlan, also owns London’s [...]
Cut debt, but not yet: CBI September 27, 2009 THE Confederation of British Industry (CBI) will today call for a faster, more aggressive approach to solving Britain’s public debt crisis as it sets out its business recommendations for a new government ahead of next year’s election. CBI deputy director-general John Cridland said the emphasis should be on balancing the government’s books by 2015/16, two [...]
ITV investors oppose Davis September 27, 2009 Embattled broadcaster ITV faces another struggle as shareholders prepare to block the appointment of Sir Crispin Davis as its new chairman. Ex-Reed Elsevier chief executive Davis and former Channel 4 chairman Sir Michael Bishop are said to be ITV’s favourites for the role. However, it is understood that some shareholders are against Davis as a [...]
Lord Turner’s criticisms damage City prospects September 27, 2009 The 2009 Party Conference season marks a critical moment in our electoral cycle – the next time the Parties reconvene in 2010 we will have a new government, be it Red, Blue or even Yellow. It is understandable that in the run-up to a General Election, politicians will seek to reflect the anger of the [...]
Rental markets start to stabilise September 27, 2009 The residential rental market is beginning to stabilise with property oversupply decreasing across the UK, according to the Association of Residential Letting Agents (ARLA). The latest ARLAsurvey shows the decline in numbers of tenants, which has led to a surplus of properties to rent, is coming to an end as 83 per cent of members [...]
Travelodge in Marston’s tie-up September 27, 2009 Travelodge, the cut-price hotel chain, is set to team up with pub giant Marston’s Inns to develop 13 new sites under a plan thought to be worth £40m. Under the terms of the deal Marston’s Inns would own the land and open a pub, leasing the rest to Travelodge which would build accompanying hotels. They [...]
AvtoVAZ seeks cash for workers September 27, 2009 AvtoVAZ, Russia’s largest carmaker, intends to apply for a 10-year credit line worth 12bn roubles (£249m) to help compensate workers it has let go, according to local press reports. The loan will be interest-free until 2015. The reports did not say where AvtoVAZ, which is part-owned by French car maker Renault, hoped to obtain the [...]
ALLEGED SWINDLER STANFORD HIT FOR SIX IN JAILHOUSE PUNCH-UP September 27, 2009 Jailed Texan billionaire Allen Stanford is having trouble fitting in at his new lodgings at the privately run Joe Corley detention centre near Houston. The 6ft 4ins property developer and banker was hospitalised this weekend following a punch up with a fellow inmate. A US Marshalls spokesman confirmed that he had been in an “altercation” [...]
BILL OF THE WEEK September 27, 2009 Five lucky diners enjoyed a meal at Apsleys at The Lanesborough, Michelin-star chef Heinz Beck’s new restaurant, and his first outside of Italy. The guests got stuck into Beck’s tasting menu, a seven-course feast, priced at £75 a head. The menu began with Sea bass wafer, tomato confit and avocado. Scallops, amaranth and black corns [...]
City airport set to launch first NY flight September 27, 2009 BRITISH AIRWAYS (BA) is launching its business class only London to New York service tomorrow, despite the massive slump in business and first class travel that has resulted from the downturn. The service, which will run from London City airport, will cost those wanting a return trip, in a fully-flat bed, on one of two [...]