Swatch taps into Middle Eastern demand with stake in Rivoli November 25, 2013 GLOBAL watchmaker Swatch has taken control of Dubai’s Rivoli retail chain, the latest luxury group to take a closer interest in its emerging markets outlets in order to use local knowledge to manage its image and better profit from rapid regional growth Swatch Group yesterday raised its stake in the Dubai retail group to 58 [...]
Hammerson and Westfield plans for Whitgift Centre win approval November 25, 2013 PLANS for the £1bn redevelopment of the Whitgift Centre in Croydon were given the go-ahead by the council’s planning committee last night. Developers Westfield and Hammerson have been granted outline planning consent to convert the tired 1960s shopping centre into a 1.5m square feet retail and leisure destination with 600 new homes. The scheme, which [...]
Cranswick’s pork and bacon in demand as half-year profits rise November 25, 2013 PORK processor Cranswick posted a 16 per cent rise in pre-tax profits yesterday thanks to strong demand for its bacon and fresh pork. The FTSE 250 firm, which makes upmarket sausages, bacon, and cooked meats for supermarkets including Sainsbury’s and Tesco, reported pre-tax profits of £26.1m in the six months to 30 September, up from [...]
Analyst Views: What was your reaction to Cranswick’s half year trading performance? November 25, 2013 CLIVE BLACK SHORE CAPITAL Cranswick remains a company that we believe is best in class in British food manufacturing…With improved industry structures we believe that the future for Cranswick is bright…and we therefore continue to argue that the stock has a firm justification for a position in any high quality mid-cap fund. DAMIAN MCNEELA PANMURE [...]
SSP wins Beijing airport contracts November 25, 2013 SSP, the travel concessions group, said yesterday it has won £50m worth of contracts to open six outlets at Beijing Capital International Airport. The company, led by former WH Smith chief executive Kate Swann, said the outlets, which are due to open next autumn at Terminals two and three, include the bakery brand Panopolis, French [...]
Legal merger called off in US November 25, 2013 One of the biggest proposed law firm mergers of the year has been called off, the leaders of the two firms told Reuters yesterday. The merger between the California-based Orrick Herrington & Sutcliffe and Pillsbury Winthrop Shaw Pittman in New York would have made it one of the largest firm in the US, but the [...]
Weidmann calls for stable pricing November 25, 2013 To restore a robust financial system, central banks should concentrate on ensuring stable prices instead of taking on new tasks, European Central Bank governing council member Jens Weidmann said yesterday. Weidmann said in a speech at Harvard University that if central banks guarantee government solvency, governments could well end up becoming less responsible with their [...]
Cupid’s chief to step down after a loveless year November 25, 2013 ONLINE dating company Cupid will have a new chief executive from next week, replacing Bill Dobbie as it struggles to turn around its business after a share price collapse of 72 per cent so far this year. Phil Gripton, currently Cupid’s managing director of dating services, will take over from Dobbie as chief executive on [...]
Better Capital eyes up German turnaround investment deals November 25, 2013 LISTED private equity firm Better Capital, founded by UK venture capitalist Jon Moulton, said yesterday that there are very few attractive turnaround investments in the UK. The company said that it would instead look to Germany in the future, “due to the volume of attractive opportunities that would benefit from Better Capital’s investment led modus [...]
7Digital preparing for its market debut with UBC takeover in 2014 November 25, 2013 ONLINE music store 7Digital has signed a letter of intent for a reverse takeover of UBC Media, the Aim-listed content group that yesterday reported a widening statutory loss of £620,000 during the last six months. Discussions between the two media firms are ongoing but the companies said they are looking to complete the deal by [...]