Groupon mulls move from temporary Tech City base to Square Mile office November 27, 2011 BARGAIN website Groupon is poised to move out of the Tech City development in East London, according to reports, becoming the latest in a number of big-hitting companies to turn its back on the area. Groupon has been operating out of temporary offices in the zone, which stretches from Shoreditch to Stratford. But the firm [...]
AT&T hacking suspects arrested November 27, 2011 Philippine police and the FBI have arrested four people over a hacking operation that targeted customers of US telecommunications giant AT&T to funnel money to a Saudi-based militant group. Those arrested in Manila were paid by the same group the Federal Bureau of Investigation accuses of having funded the November 2008 attacks in Mumbai, the [...]
Charoen in $2bnThai deal November 27, 2011 Charoen Pokphand Foods, a Thai agricultural giant, has agreed to acquire 74.2 per cent of CP Pokphand Co, its Hong Kong-listed affiliate, in a deal potentially worth more than $2bn (£1.3bn). CPF will gain access to markets in China and Vietnam with this deal. According to a statement, the Bangkok-listed company will buy 18.8bn CPP [...]
Ontario Teachers shelves sale November 27, 2011 The Ontario Teachers’ Pension Plan has shelved plans to sell its 80 per cent stake in Maple Leaf Sports and Entertainment Ltd, the “trophy asset” owner of Toronto’s big-league hockey and basketball teams. Teachers, one of Canada’s largest pension fund administrators, began looking into a sale in March.
Online sales to hit £350k each second November 27, 2011 E-TILLS ARE RINGING FOR CYBER MONDAY UK CONSUMERS are expected to kickstart the busiest online shopping day of the year today, with Christmas shoppers predicted to spend more than £350,000 each second on their Visa cards, the company said. The day has been coined Cyber Monday in the US and Visa Europe expects 4.8m purchases [...]
It’s comeback time for bond market vigilantes November 27, 2011 GUESS where we’ll be getting our cues from next week (hint: it’s an easy question). The answer, of course, is once again from the bond markets and the politicians. Fantastic. So something new to look forward to, then (or rather not). Glancing at the agenda, the most important political event to be aware of is [...]
The online company bringing American tradition to British Christmas retailing November 27, 2011 E-TILLS ARE RINGING FOR CYBER MONDAY THE MONDAY after Thanksgiving is established as a peak day for US online retail, and innovative UK businesses are starting to import the tradition. Elinor Osila and Isobel Beauchamp, founders of DegreeArt.com, noticed their sales peak on Cyber Monday last year, and now they’re prepared to capitalise. The company, [...]
Travelodge bets on convenience stores to spur £130m budget hotel expansion November 27, 2011 E-TILLS ARE RINGING FOR CYBER MONDAY TRAVELODGE has joined forces with Waitrose, the supermarket chain, to build three mixed use hotel and retail sites in a £27m scheme. The budget hotel chain said yesterday that it is also looking at 25 other sites next to big supermarkets in a £130m expansion that is expected to [...]
John Lewis takings down from this time last year November 27, 2011 E-TILLS ARE RINGING FOR CYBER MONDAY JOHN LEWIS said retail sales fell 1.2 per cent last week compared with the same week last year, as consumers continue to face severe pressure from high inflation and muted wage growth. The department store group posted sales for the week ending 26 November of £98.7m, jumping 15.9 per [...]
CITY MOVES | WHO’S SWITCHING JOBS November 27, 2011 Mayer Brown The global law firm has hired Bernd Bohr as a partner in the corporate and securities practice. Bohr is relocating from the New York office of Allen & Overy to support the expansion of Mayer Brown’s US M&A and capital markets practice in Europe. He specialises in SEC-registered securities offerings, public and private [...]
