Hong Kong has a budget surplus – the UK could too October 10, 2011 WHEN Vince Cable arrived too late to hear Hong Kong chief executive Donald Tsang speak at a special dinner in London three weeks ago, some suggested he was saving face. Indeed, where would Cable have looked while Tsang was expounding on Hong Kong’s HK$71.3bn (£5.84bn) budget surplus? How does it feel to be the representative [...]
Chinese shoppers splash out after fashion week October 9, 2011 THE West End was boosted last month by record sales to Chinese shoppers in a wave of spending triggered by London Fashion Week. There was a 59 per cent increase in tax free shopping sales to tourists from the country in September compared with the previous month. The figures from Global Blue, which analyses shopping [...]
How Boisdale owner fell hard for Jamaica October 5, 2011 I HAD never been particularly desperate to visit Jamaica despite its proximity to Cuba – to which I am a frequent and enthusiastic visitor. In truth I imagined it to be overrun with tourists and relatively hostile. What I encountered, though, was completely different to what I had imagined. I certainly cannot claim to be [...]
EasyJet ups dividend as earnings rise September 22, 2011 EASYJET yesterday announced a £150m special dividend as the company raised profit guidance, thanks to a boost from business travellers and short-break tourists. The airline announced a total payout of £190m – including a year-end dividend of £40m – for the year to 30 September. Chief executive Carolyn McCall said: “When we announced our strategy [...]
LONG ISLAND COMES TO THE CITY IN CLUB FOR DISCERNING DINERS September 1, 2011 GERALD RONSON and his business partner Enzo Quaradeghini spent 12 years building up their joint restaurant and bar interests in Barcelona, Valencia and Madrid, including the Irish pub O’Sullivans and a 3,500-capacity club called Guru. But now the Heron International boss and the restaurateur have sold off their Spanish assets, Quaradeghini is free to devote [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 1, 2011 FINANCIAL TIMES FOXCONN LOOKS TO AN AUTOMATED FUTURE WITH 1M ROBOTS BY 2013 Foxconn, the world’s largest contract electronics manufacturer by revenue, plans to have as many robots as workers in its China factories within three years, according to Terry Gou, chairman and chief executive. Foxconn, China’s biggest employer, produced Apple’s iPad and other electronic [...]
Passengers may face a £1bn bill from air tax rise June 16, 2011 AIRLINE Virgin Atlantic yesterday warned that proposed changes to Air Passenger Duty (APD) could cost holidaymakers £1bn in extra taxes, as the government prepares to close its consultation on the matter today. APD raised £2bn in 2010, but in its response to the possible reforms Virgin said this could jump to £3bn – with costs passed [...]
Ulusaba: Where to experience the ultimate safari Where Branson goes to discover the Big Five May 30, 2011 SO much for telling stories around a campfire while on safari. For my merry gang, the tales of adventure started in the transfer lounge at Johannesburg as we waited to board a 12-seater plane bound for Ulusaba, Richard Branson’s lodge just north of Kruger. The chitchat went something like this: “Did you hear about the [...]
Burberry fast tracks expansion plan as profit soars May 26, 2011 Burberry is stepping up spending on new stores and upgrading existing ones to cash in on a boom in spending on luxury goods, it said as it met forecasts with a 39 per cent leap in annual profit. The British maker of raincoats and handbags, best known for its camel, red and black check pattern, [...]
Plan to alter air tax sparks industry rage May 17, 2011 BUDGET airline EasyJet will today launch a campaign warning the government against changing the air passenger duty as proposed in the Budget, claiming such a move would reduce British GDP by £2.6bn. EasyJet today releases a report, written by Frontier Economics, which will claim that moving the levy would also reduce tourist spending by £475m [...]