Hammerson tower faces delays after first tenant cancels lease January 16, 2012 HAMMERSON’S latest office tower has suffered a major setback after law firm CMS Cameron McKenna pulled out of its pre-let agreement for a third of the building. The start of construction on the £485m Principal Place scheme in Shoreditch could now be put back after CMS Cameron McKenna blamed “uncertainties in financial markets” for the [...]
IT’S AS EASY AS ABC WITH LOVEFILM January 16, 2012 VIDEO-ON-DEMAND service Lovefilm will bring a range programmes from American airwaves to British shores, including Desperate Housewives, Grey’s Anatomy and all six seasons of desert island drama Lost. The partnership between Amazon’s streaming service and Disney UK grants Lovefilm subscribers access to ABC Studio’s online library.
FinnCap snaps up staff from rivals January 16, 2012 FinnCap has taken on three new workers, making the most of rivals merging or closing desks. The small-cap broker and adviser has hired Evolution Securities alumnus Stuart Andrews as corporate finance director, while Melvyn Brown is joining the firm’s sales trading team from Altium. Simon Johnson joins the corporate broking team from RBC. Chief executive [...]
Hedge funds bet on slower China January 16, 2012 European hedge fund managers are betting that China’s once red hot economic growth will cool dramatically in 2012, hitting companies, economies and commodity prices that have been fuelled by the world’s second largest economy in recent years. Managers are taking bets ranging from short positions on equity markets or the currency to buying credit protection [...]
Inmarsat partner’s plan hits wall January 16, 2012 Shares in satellite firm Inmarsat closed more than five per cent lower yesterday as its partner LightSquared’s plans for a wireless network hit a roadblock. A key federal agency in the US said the wireless service run by LightSquared would cause harmful interference to many GPS receivers. The firm fell as low as 366p during [...]
Stamp specialist gets a boost January 16, 2012 Stanley Gibbons, the UK stamp collecting specialist, said it expects its financial performance to be in line with market expectations after its trade was boosted by a new website and the opening of a Hong Kong office. Internet sales for the second half of the year to the end of December 2012 were up 67 [...]
PROTESTERS PITCH THEIR IGLOOS FOR ICY DAVOS January 16, 2012 THE STEIGENBERGER Grandhotel Belvedere may be only a three minute walk from the conference centre – but, really, there’s only one way to do Davos. In an igloo. Such is the sub-zero lot of the Occupy protesters, who yesterday unveiled their accommodation for the World Economic Forum in the Swiss ski resort next week: Camp [...]
Asia sales lift at Richemont January 16, 2012 RICHEMONT, the Swiss luxury goods conglomerate, posted an upbeat trading statement yesterday, reporting a 24 per cent rise in third quarter sales. The owner of brands including Cartier, Montblanc and Dunhill said revenues in the three months to 31 December rose to €2.62bn (£2.17bn) from €2.11bn a year earlier. It expects operating profit for the [...]
Falklands progress boosts Rockhopper January 16, 2012 OIL explorer Rockhopper Exploration yesterday saw its shares rise nearly 10 per cent after it said it expects to find a partner to invest in its interests in the Falkland Islands within three months. The boost came as it also revealed that it could sell a majority stake in the potentially lucrative $2bn (£1.3bn) project. [...]
Holcim dividend facing a cut as demand tails off January 16, 2012 HOLCIM will book a SwFr775m (£535.5m) charge in the fourth quarter, raising the prospect the cement-maker may trim its dividend, after a slump in demand for construction material and a South African business restructuring. The company’s ability to pay a dividend for 2011 had not changed and its board would decide on the size of [...]
