Battersea power station flats go on sale January 9, 2013 FLAT hunters with an eye for a view – and who can wait until 2016 to move in – can from today buy an apartment in the first phase of redevelopment at Battersea Power Station. Studio apartments in the project start from £338,000, and the developers hope to attract buyers from around the world. The [...]
Better Capital joins Ireland’s fund for SMEs January 9, 2013 BETTER CAPITAL is among the investment firms that have agreed to help the Irish public pension fund in a €850m venture focused on small- to medium-sized enterprises. The National Pensions Reserve Fund (NPRF) and Better Capital’s 2012 fund will each invest an initial €50m (£40.7m) to spend on overhauling struggling SMEs in Ireland, they said [...]
Amazon expands Tech City hub by hiring 100 new employees January 9, 2013 AMAZON has announced plans to expand its global development hub in London, hiring 100 staff to work on new projects. The web retailer opened the eight-floor centre in Barbican in September, moving staff from its two UK acquisitions, Lovefilm and Pushbutton, to the office where hundreds are employed. The new staff, who will be hired [...]
European arm of Paulson has profit slump January 9, 2013 THE EUROPEAN arm of hedge fund Paulson has posted a collapse in profits for the year to March 2012. Turnover at Paulson Europe LLP fell 64 per cent to £13.3m, leaving its members with just £3.7m profit, down from £26.5m the previous year. The firm, whose main activity is listed as “the provision of investment [...]
Owner of Frankie & Benny’s cashes in on austerity dining January 9, 2013 RESTAURANT Group said yesterday its turnover rose nine per cent last year as more people opted to eat out at its casual dining chains rather than high-end restaurants. The company, which owns the Frankie & Benny’s chains, said it expects to slightly beat analysts’ average forecast for pre-tax profit in the 52-week period of £64m. [...]
Punch Taverns to sell 65 pubs in bid to pay down its debts January 9, 2013 EMBATTLED pub company Punch Taverns has put 65 properties on the market as the company tries to pay down its colossal debts. The sales, managed by property agents Christie + Co, are the first wave of a plan to sell off around 400 pubs. The company is saddled with more than £2bn of debt. Shares [...]
StanChart to hit record profits despite US woe January 9, 2013 STANDARD Chartered has overcome its regulatory troubles comprehensively and is on track to record a tenth consecutive year of record profits, analysts predicted yesterday. The bank was hit by surprise accusations of breaking US sanctions on Iran last August, paying US authorities more than $600m (£374.5m) to settle the claims. But analysts expect a better [...]
Aggrieved RBS shareholders to launch legal suit imminently January 9, 2013 CAMPAIGNERS hope to launch a legal suit against RBS within weeks, arguing the bank and key bosses misled them about the strength of the institution in a major rights issue in 2008. The RBoS Shareholders Action Group plans to launch claims totalling almost £4bn. RBS said it will “defend itself vigorously” from the suit. Now [...]
2016 deadline for tough new bank risk rules January 9, 2013 THE WORLD’S biggest banks must reorganise and centralise their risk analysis by 2016, the Basel Committee on Banking Supervision revealed yesterday, as part of a drive to make sure the sector can react more quickly in any future crisis. Globally systemically important financial institutions (G-SIFIs) were criticised in the credit crunch for being unable to [...]
Hunger for profits takes a bite from Chiquito owner’s shares January 9, 2013 THE FTSE 100 is at a four-year high, but you’d still have been better off plumping for mid-range dining rather than blue chip heavyweights over the last six months. The index hasn’t even managed a 10 per cent increase since mid-July, but the Restaurant Group’s shares have risen some 30 per cent over the same [...]
