Credit Agricole cuts exposure to risky Greece August 28, 2012 FRENCH giant Credit Agricole surprised analysts by posting a second quarter profit yesterday, despite the flat French economy and tough Eurozone conditions. But the bank is still taking major steps to shore up its position and reduce exposure to the troubled periphery nations. It hopes to finalise the sale of much of its Greek arm [...]
French state pushes oil firms to cut prices at the petrol pump August 28, 2012 THE FRENCH government has teamed up with oil businesses to ease the pressure of high prices on motorists, finance minister Pierre Moscovici announced yesterday. Prices will fall today by up to six euro cents per litre for the next three months, with the government and industry each bearing half of the burden. The government will [...]
Moody’s chops 3CIF’s rating on bailout fear August 28, 2012 MORTGAGE lender Caisse Centrale du Credit Immobilier de France (3CIF) yesterday saw its long-term debt rating slashed from A1 to Baa1 by ratings agency Moody’s, as it continues to seek a buyer. The troubled institution cannot access capital markets, and in July announced plans to sell itself. But its long-term future is far from assured [...]
Restaurants aim high by moving into the Shard August 28, 2012 RESTAURATEURS behind the trendy Japanese restaurant chains Zuma and Roka and Hong Kong’s Aqua Restaurant Group have agreed to lease the entire restaurant space at Europe’s tallest building. Sellar Property, the developer behind the Shard, revealed yesterday that Zuma duo Rainer Becker and Arjun Waney are to open a rotisserie and grill as well as [...]
MPs demand an end to easy honours for business leaders August 28, 2012 BRITAIN’S business leaders should only receive honours if they have truly gone beyond the call of duty – not simply for being good at their jobs, for which they are already often handsomely rewarded, an influential committee of backbench MPs declared today. The Public Administration Select Committee (PASC) also hit out at the way in [...]
Firms praise apprentice help pledge August 28, 2012 SMALL FIRMS will get more help from lawyers and accountants to guide them through the complex apprenticeship system, the government announced today. The announcement comes as jewellery entrepreneur Jason Holt publishes his review into the sector, which found few small and medium sized firms (SMEs) understand the current structure or purpose of apprenticeships. SMEs “have [...]
Food with a view: International Restaurateurs look upwards August 28, 2012 FLOORS 31 & 33 RUN BY David Yeo (pictured), Aqua Restaurant Group BACKGROUND Ex-finance lawyer turned restaurateur who runs a host of restaurants, bars and a hotel in Hong Kong and recently expanded to London with the launch of Aqua Kyoto, Nueva and Spirit in Soho. LOOK The restaurant will include an atrium with three-storey high [...]
Investors cheer as Lexmark quits ink August 28, 2012 PRINTER maker Lexmark International said yesterday it will stop making inkjet printers and focus on its more profitable imaging and software businesses, sending its shares up as much as 20 per cent. Lexmark, never a big player in inkjet printers, said it would continue to sell laser printers as it beefs up its print services [...]
ThaiBev hikes stake in F&N in Heineken fight August 28, 2012 THAI Beverage has raised its stake in Fraser and Neave to just below the level that would trigger a mandatory offer for the whole company, showing its commitment to blocking Heineken’s bid for Asia Pacific Breweries. ThaiBev, controlled by billionaire Charoen Sirivadhanabhakdi, said yesterday it had bought a 2.6 per cent stake in Fraser and [...]
Paralympics visit Tottenham August 28, 2012 THE Paralympics 2012 officially kick off today, and the Dutch seven-a-side football team were having a warm up game yesterday. Not at the Olympic Park, but on another newly created pitch in Tottenham. The team was playing to mark the launch of Cruyff Court, a state-of-the-art games area at the Ferry Lane Estates that has [...]
