Strada owner losing money March 2, 2014 STRADA, Cafe Rouge and Bella Italia owner Tragus fell to a heavier loss last year after highlighting challenging economic conditions and higher costs. Pre-tax losses for the year ending June 2013 rose to £36.1m from £18.4m in the previous year, according to annual accounts. Tragus, which is owned by US private equity firm Blackstone, was [...]
Marco Pierre White stirs up restaurant deal March 2, 2014 MARCO Pierre White, the chef behind ITV’s television series Hell’s Kitchen, has struck a franchise deal with hotel group Sanguine Hospitality to open 50 UK restaurants over the next five years, known as Marco Pierre White Steakhouse Bar & Grill and Marco’s New York Italian.
Barclays brokers leapfrog over Citi March 2, 2014 BARCLAYS overtook rival Citigroup in the FTSE 100 broker rankings for the first time last quarter after winning a contract to be broker for catering giant Compass Group. The bank’s corporate brokers were appointed to work with the catering company last month, helping take its tally of FTSE 100 customers to 17 from 16. The [...]
RBS fears bank ring-fence could slow down its recovery March 2, 2014 THE INCOMING bank ring-fence to split investment and retail banking activities could hurt RBS’ customers, the lender warned in its full-year results. RBS’ management last week set out plans to restructure the bank and get it back to profit. But it also set out risks to that programme, including the sustained wave of regulation. “Certain [...]
Finance class set to be flop March 2, 2014 NEW financial education classes risk failure because the curriculum is too crowded, a financial education group has claimed today. The lessons will run in maths and citizenship classes, but Ifs University College suggests it should be taught as a standalone subject. “The curricula in both of these subjects are very crowded which raises questions as [...]
Flood of flotations drives City hiring March 2, 2014 The recovery is creating a jobs boom in the City, recruiters Astbury Marsden said today, with another surge on its way as more businesses float on the stock market. It recorded 3,220 new jobs in January, up 25 per cent on the year. “The confident mood is underlined by the fact that the banks have [...]
Sector-wide insurance apprenticeship March 2, 2014 Aon insurance has joined with partners from across the insurance and risk management industry to launch the first sector-wide apprenticeships programme. The new scheme, announced at the beginning of National Apprenticeships Week today, is being launched by minister of state for skills and enterprise Matthew Hancock and Manchester United legend Sir Bobby Charlton, who was [...]
Energy sector to boost M&A growth in 2014 March 2, 2014 ENERGY firms are more optimistic about M&A than companies in other sectors, with regulatory changes being the key driver, according to a new report today. The research from law firm Hogan Lovells shows that 85 per cent of energy sector executives worldwide consider M&A to have delivered what they had hoped for in the past, [...]
Business group calls for carbon tax freeze to boost UK industry March 2, 2014 THE CONFEDERATION of Business Industry (CBI) today called for the government to freeze a tax on carbon emissions, arguing that it prevents businesses from competing internationally and raises customers’ energy bills. The carbon price floor is a levy on greenhouse gas emissions, aimed at encouraging investment in low-carbon energy generation. But the business group claims [...]
London black cab maker drives off with electric van company March 2, 2014 THE CHINESE owner of London’s distinctive black taxis has snapped up another slice of the British motoring industry, buying UK-owned electric van technology company Emerald Automotive. Geely Group, which saved the London Taxi Company from bankruptcy in February last year, will invest $200m (£119.5m) in the group between now and 2019 and maintain its current [...]
