Untapped potential in Africa August 21, 2011 AS markets focus on turbulence across the Eurozone it is important that we do not lose sight of the vast opportunities available to City firms in emerging markets. This is one of my key messages as I lead a senior business delegation on a visit to four African countries: Angola, South Africa, Kenya and Nigeria. [...]
Virgin gym chain could buy rivals August 21, 2011 VIRGIN Active is considering buying rival gyms after a private equity house took a majority stake in the business. City A.M. understands that Virgin Active could make further deals while it integrates Esporta, the rival chain it took over earlier this year. The health and fitness firm is also targeting organic growth after CVC Capital [...]
Shops closing shutters as custom drops August 21, 2011 FEWER Britons are going shopping, triggering the closure of an increasing number of stores, new figures show today. There was a one per cent drop in footfall – the number of people visiting shops – between May and July compared with the same period last year. The figures from the British Retail Consortium and analysts Springboard [...]
Plans for a ringfence will hit recovery August 21, 2011 THE UK’s £2.5 trillion bank lending market will shrink and more pressure will be piled on small businesses if the government ringfences investment banking operations from retail arms, it has been warned. The Association of Corporate Treasurers (ACT), which represents finance directors and treasurers from the FTSE 100 and elsewhere, yesterday said the nation’s economic [...]
United Continental plots upgrade August 21, 2011 United Continental Holdings said yesterday it would invest $550m (£334m) to add overhead storage space on its planes and make other upgrades. United Continental will nearly double the overhead storage space on more than 150 aircraft, and add flat-bed seating on 62 additional long-haul planes. Other enhancements include installing broadband Wifi on more than 200 [...]
Vale sticks to investment plan August 21, 2011 Brazil’s Vale, the world’s third-largest mining company, has yet to change its investment plans or suffer any canceled or modified shipments because of the global crisis, its chief executive said yesterday. Murilo Ferreira said that unlike the 2008-09 crisis when Vale was forced to reduce production and lay off workers, this time around, credit and [...]
Micro Focus calls halt on offer talks August 21, 2011 SHARES in IT company Micro Focus International are expected to slump today after the firm called off takeover talks after four months of discussions. The firm said bids for the business fell short of expectations, and that it now plans to resume its share buyback programme. The firm, which supports mainframe computer applications for companies [...]
Russia’s largest shipping company mulls City listing August 21, 2011 RUSSIA’s state-owned shipping company Sovcomflot could make an initial public offering on the London Stock exchange by the end of the year, as the Russian government looks to push ahead with its ambitious privatisation plans. Sovcomflot, which is sending test cargoes along a new Arctic route to service Russia’s offshore oil fields, is at the [...]
Rise in couch surfing sales August 21, 2011 THE RELATIONSHIP between watching television and online shopping is moving closer as tablet devices become the new “digital till”, a Deloitte report has revealed. The study of 4,000 UK consumers showed that online shopping is one of the most popular activities among those who use the internet while watching TV, with 45 per cent of [...]
Size matters when it comes to bailout funds August 21, 2011 EUROPEAN leaders still have their work cut out for them. Even though we now know they’re not (officially) moving towards introducing a Eurobond, this is still the direction many in the market argue makes the most sense. Even if it would once again mean the richer European countries underwriting the debts of the poorer ones. [...]
