Bertelsmann scraps float plans September 2, 2012 The Mohn family, which controls Bertelsmann, Europe’s largest media group, has decided not to take the company public, German newspaper Handelsblatt reported. The company lacks a growth strategy to make it attractive to investors, according to the paper, which cited an unidentified person close to the family. A spokesman for the company declined to comment.
Debt deal for Kuwait’s Global September 2, 2012 Shareholders in Kuwait’s Global Investment House yesterday approved a plan for the company’s $1.7bn debt restructuring that will create special purpose vehicles to take on debts. The investment company and asset manager will create at least two SPVs – one will hold company assets along with a debt of $1.3bn, while another will take part [...]
Etihad raises Virgin Australia stake September 2, 2012 Abu Dhabi’s flagship carrier Etihad Airways has raised its stake in Virgin Australia to 10 per cent through open market purchases, the state airline said in a statement yesterday. Etihad, founded eight-years ago, received approval from Australia’s Foreign Investment Review Board (FIRB) to increase its stake from five per cent to 10 per cent, it [...]
Accor opens four new hotels in London September 2, 2012 HOTELIER Accor is set to open four new properties across London in October, as well as extending two hotels and refurbishing 12. The group, led by chairman Denis Hennequin and chief financial officer Sophie Stabile will open two hotels in Blackfriars, as well as one in Shepherd’s Bush and another in Greenwich, creating 170 jobs.
Foreign buyers drive boom for London houses September 2, 2012 THE LONDON housing market is in a booming recovery, defying global downturn and an unconvincing overall climate for UK housing, according to a report released by Knight Frank today. Prime central London prices are 49 per cent up since March 2009, when the market bottomed out following the financial crisis, and already 14 per cent [...]
ECI says firms are losing faith in government’s economic plans September 2, 2012 BUSINESS confidence in the government’s economic policy has plummeted over the last year, a report from ECI, the private equity firm, showed today. While businesses understand the need for fiscal consolidation, they have made an about-turn in their assessments of chancellor George Osborne’s economic policies. While 42 per cent said coalition policy was having a [...]
Factory trade is worsening September 2, 2012 MANUFACTURERS in the UK are being clobbered in the double-dip recession, a survey from manufacturing organisation EEF and business advisers BDO claimed today. Trading conditions were rated the worst for almost three years, driven by a sub-index for orders that dipped below zero for the first time in 10 quarters, the survey said. Crisis-hit Eurozone [...]
Business sentiment still going up September 2, 2012 Business confidence in the UK’s economics prospects improved for a third month in a row, according to Lloyds’ business barometer for August released today. The overall index went up by 18 points, to +10, having been at -8 last month. But Lloyds warns that these rises come in the context of a May collapse, and [...]
City continues to create new jobs September 2, 2012 The number of jobs created in the City slipped very slightly in August, recruiter Astbury Marsden said today. Firms created 2,920 new jobs in August, two per cent down on the 2,985 created in July.
Graduates winning race for houses September 2, 2012 Graduates are coming out ahead in the race to get a foot on the property ladder, Rightmove said today. Of those intending to buy their first property in the next 12 months, 30 per cent have a degree, and 39 per cent had a postgraduate qualification.
