League chiefs query QPR financial recovery March 2, 2015 QUEENS Park Rangers could still face a hefty fine and demotion to the Conference for breaking the Football League’s financial fair play rules despite declaring a huge drop in losses last season. QPR said they lost just £9.8m in 2013-14, an improvement of £55.6m on the previous campaign even though they spent it in the [...]
Liverpool out of the red as new TV deal heralds return to profit March 2, 2015 LIVERPOOL overturned a loss of £50m to report a small profit for the first time in seven years last season, the Anfield club said yesterday. The club reported a pre-tax profit of £0.9m in the year to 31 May 2014, compared to losses of £49.8m the previous year, while revenues increased by 19 per cent [...]
Police probe fresh allegations of Chelsea fan racism on train March 2, 2015 CHELSEA were last night facing fresh controversy after police launched an investigation into allegations of racist and abusive behaviour by the club’s fans on a train from London Euston to Manchester Piccadilly. British Transport Police were called to meet the train at Stoke-on-Trent shortly after 10.30pm on Sunday and asked four men to leave, while [...]
UK fails to stop RWE Dea North Sea oil sale to Russian billionaire Mikhail Fridman March 1, 2015 The UK government could face legal action if it attempts to interfere with a Russian billionaire’s bid for several North Sea energy assets. An investment vehicle called Letter One, which is owned by Russian tycoon Mikhail Fridman, is buying German oil company RWE Dea in a €5.1bn (£3.7bn) deal expected to be closed today. RWE [...]
Abu Dhabi fund in £1.6bn bid for London’s Maybourne Hotel Group March 1, 2015 Abu Dhabi’s sovereign wealth fund has put forward a £1.6bn bid for Maybourne Hotel Group, owner of London venues the Berkeley, the Connaught and Claridges. Abu Dhabi Investment Authority (ADIA) is reported to have sent a letter declaring its interest in such a deal to Maybourne’s holding company, Coroin. The firm is understood to have [...]
Bank reshuffle raises issues at Burberry – Editor’s Letter March 1, 2015 Sir John Peace is widely admired in the City and until recently held positions as chair of both the emerging markets bank Standard Chartered and the fashion group Burberry. Until last week, those who expected him to give up one of those posts so he could give more time to the one he kept, had [...]
Liberal Democrats call for extra £1bn bank levy to pay off deficit March 1, 2015 Plans to tax Britain’s banks should be lifted with an additional £1bn levy in order to help pay off the deficit, will be announced by the Liberal Democrats today. Danny Alexander, chief secretary to the Treasury, is making a bid to have the proposal included in the chancellor’s Budget later this month. If it is [...]
Russians protest death of Kremlin critic March 1, 2015 TENS of thousands of Russians marched through central Moscow yesterday, carrying banners declaring “I am not afraid” and chanting “Russia without Putin” in memory of murdered Kremlin critic Boris Nemtsov. Families, the old and young walked slowly, with many holding portraits of the opposition politician and former deputy prime minister who was shot dead on [...]
Controversy-hit economic guru Douglas McWilliams to take a break from Cebr March 1, 2015 Top economist Douglas McWilliams is taking a five-month break from running the Centre for Economics and Business Research (Cebr), the influential consultancy he founded in 1993. The announcement came yesterday in the wake of allegations regarding his private life made in some Sunday newspapers. McWilliams told City A.M. that he has been “dealing with a [...]
London’s hotels to benefit from 20-year high for occupancy rate March 1, 2015 London’s hotels are set for a record 2015 with occupancy rates expected to reach a 20-year high, according a new report published today. The forecast by PwC says it expects occupancy rates in the capital to exceed 84 per cent this year, making it the top ranking city under this measure. However, London falls far [...]
