BILL OF THE WEEK March 14, 2010 JUST St James obviously ticked the right boxes for one of its loyal Mayfair regulars. with the introduction of a Best of British menu. On the day the 10-year-old favourite relaunched its basement bar – formerly Just Oriental – as the Club Bar, six fans celebrated with a modest array of sharing platters with everything [...]
Eurozone production in surprise jump March 12, 2010 INDUSTRIAL production in the 16 countries in the eurozone increased by much more than expected in January. The 1.7 per cent growth between December and January was a record jump in the monthly data produced by Eurostat. Consumer goods like cars, furniture and appliances, rose by two per cent. The European Commission’s latest forecast suggests [...]
BA to be hit by seven days of strikes March 12, 2010 BA cabin crew will go on strike for three days from 20 March and for four days from 27 March, union official have confirmed. Unite called the walkout after talks to settle a dispute over pay and staff levels collapsed. The union said it would not strike over Easter but warned that more action could [...]
Luminar suffers clubbers put off by cold March 12, 2010 NIGHTCLUB group Luminar has seen its trading badly dented by freezing winter weather. Clubber numbers have dwindle leaving sales down 9.9 per cent in the year to 25 February. The company, which owns the Oceana, Liquid and Lava & Ignite chains, has embarked on a cost-cutting campaign and said its full-year profit was expected to [...]
Promethean set for £400m listing March 12, 2010 EDUCATION technology group Promethean World and its owners are set for a £400m listing on the London Stock Exchange. The Blackburn-based company and private equity firm Apax Partners – which owns a 25 percent stake in Promethean – sold a combined 92.9m shares at 200 pence. The shares represent 46.4 per cent of Promethean’s enlarged [...]
Liberty receives takeover approaches March 12, 2010 LIBERTY could be taken over in a deal of up to £70m after more than one potential buyer has emerged. The Regent Street department store told the stock market today that it had received approaches from potential bidders for the business. It said in a statement: “The Board of Liberty confirms that it has received [...]
SuperGroup flotation to value company at £395m March 12, 2010 FASHION retailer SuperGroup has said it will go ahead with its stock market listing and expects to receive a valuation of £395m. The company – which has the Superdry brand sported by celebrities including David Beckham – has valued its shares at £5 each The firm’s share offer comprises a private placement to institutional investors [...]
Lehman used accounting “gimmicks” before collapse March 12, 2010 LEHMAN Brothers used accounting gimmicks and had been insolvent for weeks before it filed for bankruptcy in September 2008, but there was not extensive wrongdoing, a court-appointed examiner has found. In a 2,200-page report examiner Anton Valukas, chairman of law firm Jenner & Block, reported the results of his more than year-long investigation into who [...]
London and NY in tie for finance hub March 11, 2010 LONDON is no longer the world’s leading financial centre, according to a highly rated survey The Global Financial Centres report yesterday slashed its rating to equal that of New York. It is the first time London has been knocked off the top spot and will come as a warning to politicians desperate to trumpet the [...]
Tories insist that City has faith in Osborne March 11, 2010 THE Tories yesterday insisted the City had faith in George Osborne, after our City A.M. reader panel said Ken Clarke would make a better chancellor. Shadow business secretary Clarke was the first choice of 36 per cent of readers on the City A.M. / PHI Panel, recruited to represent a cross-section of London’s business community. [...]
