Wild tales of unknown fame at the launch of The Fable February 12, 2014 THE CITY brushed up on its fairytales last night at the launch of bar chain Drake & Morgan’s latest outpost The Fable on Holborn Viaduct. Crowds enjoyed the literary-inspired cocktails but the evening had an even more interesting tale for one punter. The Capitalist bumped into a Bank of Tokyo-Mitsubishi employee who had inadvertently become the [...]
Telecity slumps as 2014 forecast fails to inspire February 12, 2014 BRITISH data centre operator Telecity has forecast weaker than expected revenue growth this year, sending its shares down more than 10 per cent to a two-year low. The company, which targets the top end of the market from prime city-centre locations, said yesterday that demand from sectors such as e-retail and video streaming services remained [...]
ITV’s The Only Way Is Essex gets a new home this year on ITVBe February 12, 2014 ITV WILL launch a lifestyle and reality television channel, to become the exclusive home of ITV’s award-winning show The Only Way Is Essex, aimed at a younger female audience when it launches towards the end of 2014. The new channel, called ITVBe, will be free on Freeview, Sky and Virgin, and will be supported by [...]
Thomson Reuters disappoints Wall Street as financial firms cut back February 12, 2014 THOMSON Reuters yesterday reported a steeper-than-expected slump in fourth quarter earnings, causing its share price to drop over six per cent, hit by customer cutbacks primarily from financial institutions in Europe and emerging markets. The news and information company forecast that 2014 revenue would be flat, compared with a two per cent increase to $12.5bn [...]
Quintain sells Mitre Passage for £17m as disposals reach £500m February 12, 2014 QUINTAIN has sold its 50 per cent stake in Mitre Passage in Greenwich for £17.1m, adding to a string of disposals already made in the last 18 months. The sale to Tristan Capital was announced alongside its interim management statement yesterday, Quintain said it had made £31.6m of disposals in the period from 1 October [...]
Commitee of MPs launch inquiry into energy network charges February 12, 2014 THE ENERGY and Climate Change Committee yesterday launched a new inquiry into network costs, as the public furore into rising energy bills rumbles on. The committee of MPs is assessing whether the regulator Ofgem is doing enough to ensure the costs of transporting and distributing energy stay low. Network costs make up around 23 per [...]
Malfunctioning software sparks huge recall of Toyota Prius cars February 12, 2014 TOYOTA is recalling 1.9m Prius cars over a software fault that can cause the hybrid cars to stop. The recall affects 30,790 UK-registered Prius manufactured between March 2009 and February 2014 The carmaker has received several reports of a bug in the software controlling part of the car’s hybrid power system, meaning switches in the [...]
Stansted traffic up 7.2 per cent February 12, 2014 Stansted Airport saw 1.16m passengers in January, up 7.2 per cent on a year ago. The airport follows Gatwick and Heathrow in reporting a strong start to the year. Over the past 12 months, Stansted said almost 17.5m passengers came through its doors, a rise of 2.6 per cent. The north London airport was bought [...]
H&M to open first store in India February 12, 2014 Hennes & Mauritz (H&M) is to open its first store in India in April, the Swedish clothing giant announced yesterday as it becomes the latest to take advantage of the opening of Asia’s third-largest economy to foreign operators. The retailer, which said last year it plans to spend around €100m (£82m) on an initial 50 stores [...]
CBRE renews property mandate February 12, 2014 Property agent CBRE said yesterday it has been re-appointed to manage Bank of America Merill Lynch’s 4.4m square feet property portfolio. The portfolio spans 41 countries across Europe the Middle East and Africa, Asia Pacific and Latin America, with South Africa and Taiwan also now added to its mandate. CBRE’s head of corporate services Mark [...]
