London Sports Festival moves from 3×3 basketball success to pickleball at the City of London Corporation’s Guildhall Yard
US bank bonuses plummeting to a post-Lehman Brothers low December 9, 2012 WALL STREET’S bonus payouts are set to fall to their lowest level since 2008, US financiers warned over the weekend, as markets stay weak and transaction volumes stagnate. And New York’s bankers will be hit by a double whammy, with taxes likely to rise sharply when Bush-era allowances expire as part of the fiscal cliff [...]
Iceland to cheer UK investment in the country’s energy industry December 9, 2012 ICELANDIC President Olafur Ragnar Grimsson is set to give his blessing to UK-listed Faroe Petroleum’s explorations in his country’s waters today. At an event hosted by oil explorer, the leader is expected to herald a decision last week to award UK firms provisional licences to drill off Iceland’s coast. Aim-listed Faroe and fellow licence-winner Valiant [...]
Diageo considers Jim Beam deal December 9, 2012 DIAGEO is understood to be casting its eye over the maker of Jim Beam whiskey. The drinks giant, which has a sizeable war chest, has held talks with potential partners about a joint bid for US-based Beam, which could be worth $10bn (£6.2bn). Although not currently in talks, Diageo engaged bankers earlier this year. Diageo [...]
Lloyds in pole position to eat up D&D London December 9, 2012 TAXPAYER-backed Lloyds Banking Group has emerged as favourite in the race to take over the high end restaurant group D&D London, the firm behind City dining venues like Coq d’Argent, Le Pont de la Tour and The Grand Café at the Royal Exchange. The bank, through its private equity vehicle LDC, is understood to be [...]
Bargains bring home the bacon but bite into profits December 9, 2012 AS DECENT numbers for Nando’s reveal the chain moved into profit last year after three in the red, the cheaper end of the restaurant sector may be turning a corner. The latest figures from BDO indicate that operators including the Restaurant Group and JD Wetherspoon have seen an upturn in trade in September and October. [...]
Nando’s buying spree pays off as the chain returns to profit December 9, 2012 NANDO’S swung back into profit last year after the restaurant chain, famous for its flame-grilled peri-peri spiced chicken, lured more customers through its doors. The company posted £14.7m in profits before tax in the year to 26 February compared with a £7.1m loss the previous year, accounts filed at Companies House show. Nando’s acquired Clapham [...]
Burgers to fuel appetite for M&A activity December 9, 2012 A RESURGENCE in posh burger joints and quality fast food is set to fuel M&A activity in the restaurant sector this year, according to new research published today by accountants BDO. The firm’s annual restaurant and bars report says that while deal volumes remain low compared with the halcyon days of the early 2000s, it [...]
Threadneedle Street tenders £1bn note deal December 9, 2012 THE Bank of England is asking companies to compete for a licence to print money after re-tendering its £1bn bank note production contract for the first time in a decade. The Bank, located on Threadneedle Street in the City, has placed an advert in the Official Journal of the European Union asking bank note printing [...]
Loose monetary policies drive more investors into risky assets December 9, 2012 THE PRICE of risky assets jumped in the last three months as loose monetary policies encouraged pushed investors to take more risks, according to a Bank of International Settlements (BIS) report published last night. Economic growth forecasts around the world have been slashed, which would usually make investors cautious – but BIS found central banks’ [...]
Microsoft dragged into row over corporation tax payments in UK December 9, 2012 MICROSOFT is the latest global firm to be dragged into a row over UK corporation tax payments, after it emerged the US technology group legally channels certain online payments through Luxembourg and Ireland. Payments for the firm’s new Windows 8 operating system are being handled through an office in Luxembourg – where corporation tax is [...]
