London sildes down table July 6, 2009 London is now the 16th most expensive city in the world to live in, according to a report by Mercer, marking a significant drop from third only one year ago, largely due to the fall of the pound against the dollar. Japan is strongly represented with Tokyo and Osaka coming first and second, respectively.
NFB promotes Rupert Perkins July 6, 2009 The National Federation of Builders has appointed Rupert Perkins as its new chairman. The NFB represents small and medium-sized construction companies throughout England and Wales. Perkins was previously the chairman of the National Federation of Builders’ south west executive board and finance group.
The rich just don’t care July 6, 2009 Brazilian president Luiz Inacio Lula da Silva said yesterday that rich countries are doing nothing to help poorer ones through the global economic crisis. “I am seeing little being done by the rich countries in the help they are supposed to give,” he said in advance of this week’s meeting in Italy of the G8 [...]
CITY MOVES Who’s switching jobs July 6, 2009 BDO Stoy HaywardThe accountancy firm has hired three new partners to its London business restructuring team. Danny Dartnaill joined BDO in 2003 and has recently been involved in high-profile restructurings in the retail and asset management sectors. Nick Goldstone, who joined the firm in 2002, specialises in the leisure and hospitality sector, while insolvency practitioner [...]
JJB Sports shares dive on cash call July 6, 2009 JJB SPORTS yesterday suffered a 25 per cent plunge in its share price to 23p after investors were rattled by a confirmation of a £50m rights issue and a controversial row involving executive chairman Sir David Jones. The ailing sportswear chain yesterday said it is looking to raise working capital in a placing and open [...]
Coffee Republic hit by the daily grind July 6, 2009 COFFEE Republic yesterday suspended its shares “pending clarification” of its financial situation, with administrators waiting in the wings. Last week, the group placed one of its subsidiaries into administration and called in restructuring advisers from law firm Osborne Clarke. The company, which was founded by Bobby Hashemi, suffered a £527,000 loss in the six months [...]
June is a bumper month for Ryanair and EasyJet July 6, 2009 BUDGET airlines Ryanair and EasyJet yesterday said they had recorded year-on-year passenger increases after an exodus of passengers from premium rival British Airways (BA). Figures for June showed that Ryanair carried more passengers than ever before, with 5.8m people using the Irish airline. This represents a 13 per cent increase on passenger traffic from a [...]
WILL JJB SPORTS BE ABLE TO RECOVER FROM THIS SET BACK? July 6, 2009 NICK BUBB PALI INTERNATIONALNews of the deeply discounted rights issue has obviously hit the group. I’m not too surprised by that. JJB’s rival Sports Direct reports trading figures next week and this ‘loan leak’ is designed to hurt Sir David Jones’ reputation and therefore hurt JJB’s abilitiy to raise money and fight back – it’s [...]
CBI’s low-paid ‘limbo’ unlikely July 6, 2009 Richard Nicolle, employment partner at legal giant Denton Wilde Sapte, says the CBI’s proposals of an “Alternative to Redundancy” scheme are unlikely to be taken up by the government. He said the plans are “unlikely to come to fruition” as policymakers will resist any measures that could boost the UK’s unemployment figures. The CBI last [...]
Facebook to make billions by 2014 July 6, 2009 Social networking giant Facebook will likely be posting billions of dollars in revenue in five years, up from about $500m (£308m) this year, according to Silicon Valley entrepreneur Marc Andreessen who sits on the website’s board. Andreessen said the world’s most popular online social network could pile up $1bn in revenue this year if it [...]