Banks ready to lend for big property buys October 3, 2010 MORE banks were willing to help fund large UK real estate purchases in the last six months than in the previous year, though many commercial property deals are being done without the need for debt, according to research out today. Twelve banks have lent at least £100m each in the period, in typical loan sizes [...]
Foyles to open a shop in One New Change October 3, 2010 BOOKSELLER Foyles is to open its first branch in the City after signing for space in the One New Change shopping centre near St Paul’s Cathedral. The book shop’s fifth branch in London will open on 28 October, the same day as the retail centre is set to launch. Land Securities, developer of the mall [...]
Big banks top High Court appearances October 3, 2010 THE UK’S largest four banks were repeatedly in court last year as the number of High Court cases involving FTSE 100 companies jumped by 16 per cent. Lloyds Banking Group, Barclays, the Royal Bank of Scotland (RBS) and HSBC collectively made up 43 per cent of all High Court appearances by the UK’s largest companies, [...]
Taylor Wessing bolsters financial disputes group with BLG poach October 3, 2010 CITY law firm Taylor Wessing has bolstered its financial disputes practice after poaching Barlow Lyde & Gilbert’s (BLG) head of financial services. Tim Strong, who has led BLG’s financial services practice since October last year, will join Taylor Wessing within the coming months after more than a decade with the insurance-based firm. His departure from [...]
Report mulls impact of BHP bid for Potash October 3, 2010 AN INDEPENDENT report on the impact of a takeover of Canada’s PotashCorp will today reignite the country’s debate over the implications of such a move, as expectations of a Chinese-led counterbid to BHP Billiton’s $39bn (£24.7bn) offer begin to dwindle. The report by the Conference Board of Canada will make no recommendations, though it will [...]
AIM delistings soar as M&A deals in the market increase October 3, 2010 THE NUMBER of companies removing themselves from the AIM stock market rose by 25 per cent in the last quarter to 45, according to research out today. Of the 45 firms that delisted, 20 did so because of merger and acquisitions, said law firm Trowers & Hamlins and accountant UHY Hacker Young. M&A activity now [...]
SocGen rogue trader Kerviel to get his day of reckoning in court October 3, 2010 A PARIS judge will tomorrow decide whether former trader Jerome Kerviel should be punished for his freewheeling market bets that brought French bank Societe Generale to the brink of collapse in 2008. The 33-year-old ex-trader, who now works for a technology consultancy, risks five years in prison and a €375,000 (£323,000) fine if found guilty [...]
Retailers go head to head with results October 3, 2010 SUPERMARKETS are set for a showdown this week as Tesco, J Sainsbury and Marks & Spencer post interim results. Smaller retailers Ted Baker, Halfords and Greggs are also due results, in a week that will indicate how the High Street has fared since the general election. Tesco is expected to post a 10 per cent [...]
North Face fuels sales climb as Vanity Fair eyes expansion October 3, 2010 VANITY Fair, whose brands include North Face and Vans, is targeting new stores in the UK to build on a 55 per cent first half rise in earnings. The company made $274.4m (£174m) with strong growth in Asian markets and record revenues of $3.3bn. North Face, which consists of outdoor high performance clothing, is continuing [...]
Ikea announces profits for first time, promises to be more open October 3, 2010 SWEDISH furniture retailer Ikea has released full-year trading results for the first time announcing net profit increased 11.3 per cent to €2.5bn (£2.2bn) for the year to 31 August. The store said group sales for 2009 increased by 1.4 per cent to €21.8bn, equivalent to 3.1 per cent growth, despite what it called “difficult” external [...]
