Paddy Power cuts forecasts August 28, 2008 Bookmaker Paddy Power yesterday slashed its annual earnings forecasts, prompting a slump in its stock market value as investors dumped shares in the Dublin-based company. Winnings in favour of customers backing Irish golfer Padraig Hamilton at both the British Open and the US PGA championship as well as in almost two thirds of matches played [...]
Woolworth still cool on Walker plan August 26, 2008 Troubled retailer Woolworths yesterday played down reports that its chief executive Robert North was due to meet with Iceland entrepreneur Malcolm Walker. Reports had suggested the two sides were certain to get together for crucial takeover talks later this week. It emerged last week that Woolworths had rejected a £50m takeover approach from a consortium, [...]
Tui Travel bookings beat the slowdown August 15, 2008 Tui Travel, Europe’s largest travel operator, said holiday booking continued to be robust as customers were not prepared to forgo their summer holiday despite the credit crunch. Chief executive Peter Long said the group’s “power brands” – Thomson in the UK and Tui in Germany – were holding up well in the economic climate. “It [...]
Never mind the credit crunch. What time’s the match? August 15, 2008 With the Premiership football season due to kick off tomorrow, London’s top-flight clubs appear to be immune to the ravages of the credit crunch, with some hopeful of attracting more fans than ever before. The stars of Chelsea, Arsenal, Tottenham Hotspur, West Ham and Fulham take to the pitch in the knowledge that fans are [...]
Growth slows for hotelier as guests skimp August 13, 2008 The world’s largest hotelier, InterContinental Hotels Group (IHG), has reported first-half operating profits of $291m (£153m), an increase of 29 per cent – despite slow second quarter growth from its US operations. Reporting in US dollars for the first time, IHG announced an increase in revenue per available room (RevPAR) of four per cent, though [...]
Tesco to open wholesaling chain in India August 13, 2008 Supermarket giant Tesco yesterday said it was pushing into India by launching a wholesale cash-and-carry business. At the same time it announced a deal with Indian titan Tata to help it expand its fledgling hypermarket business. Tesco will invest £60m in its wholesale business – which will supply Tata’s chain of food stores, as well [...]
Woolworths chooses DIY chief as boss August 13, 2008 Woolworths, the troubled British retailer, has appointed former head of Focus DIY Steve Johnson as its new chief executive, in an attempt to revive its fortunes. Johnson, 44, takes over from Trevor Bish-Jones, who was ousted in June, and will earn a basic salary of £550,000 a year, as well as a cash bonus of [...]
Warm reception for London’s priciest restaurants despite fears of recession August 6, 2008 A clutch of top-end London restaurants have enjoyed successful openings this summer, despite fears of a protracted economic downturn. In July, against a backdrop of doleful news in the property and financial sectors, Ambassade de L’Ile, with Chef Jean-Christophe Ansanay-Alex, opened its door to diners in francophone South Kensington, while the eponymous Helene Darroze at [...]
10 Ways to avoid stress August 5, 2008 Relaxing during a busy day need not take up time and money, says Zoe Strimpel There’s a lot of stress out there at the moment, what with holidays being cut short and cancelled, workloads ratcheting up and lunchtimes shrinking even more than normal. You probably need to de-stress, but sometimes popping out a massage or [...]
Water world August 4, 2008 Piedmont is wet, but perfect for the outdoors enthusiast, discovers Katie Hope Every nation has its eccentric national pursuits. The Japanese play pachinko – an addictive cross between pinball and a fruit machine which pays out metal balls; the Dutch eat chips with mayonnaise; the Spanish fight bulls. And in Northern Italy, come the weekend [...]