Government’s plan A given IMF approval June 6, 2011 THE INTERNATIONAL Monetary Fund (IMF) has said there is no need for chancellor George Osborne to slow his deficit reduction plans, or for Britain to draw up a “plan B” for the economy. “The weakness in economic growth and rise in inflation over the last several months was unexpected. This raises the question whether it [...]
Prada prices HK listing June 6, 2011 ITALIAN fashion house Prada is pricing its initial public offering (IPO) in Hong Kong to raise up to $2.6bn (£1.6bn) and give the maker of luxury bags and Miu Miu dresses a higher valuation than its European peers. Prada set an indicative price range of HK$36.5 to HK$48 (£2.90 to £3.80) a share for the [...]
Beware the excess baggage of Samsonite June 6, 2011 PRADA and Samsonite will go cap in hand to Hong Kong investors for a combined $4bn (£2.4bn) when they launch their IPOs this month. Both will claim membership of the luxury goods sector, which is booming in Asia. One is a century-old Italian doyen of haute couture, a byword for sophistication and class. The other [...]
Moncler abandons float plans after selling a 45 per cent stake June 6, 2011 MONCLER has sold a stake to investment company Eurazeo, allowing the upscale clothing maker to sidestep a rocky market for European listings which would have likely demanded it be sold at a big discount. The French company, which had been due to begin roadshows for its Milan listing this week, agreed to sell a 45 [...]
Architects oppose listing of Broadgate June 6, 2011 A POLL of architects suggests that most in the industry are against protecting buildings on the Broadgate estate from redevelopment. An online survey by the Architects’ Journal yesterday showed that 68 per cent think that Broadgate Square near Liverpool Street should not be the second-ever postwar City building to be given listed status, as recommended [...]
CITY VIEWS: SHOULD BROADGATE BE LISTED? June 6, 2011 MALCOLM PICKERING | LEADENHALL CORP “No, for a building to be listed it needs to have architectural history. We are in a period of change and renewal so it is good to build a modernised building.” PAUL BENNIE | BENNIE MACLEAN “No. The building is not iconic and it is not an architectural landmark. Broadgate [...]
DOES BROADGATE DESERVE TO BE LISTED ALONGSIDE THESE LONDON LANDMARKS? June 6, 2011 RBS building 3-5 Bishopsgate Listed: 1977 Church of St Mary-Le-Bow Cheapside Listed: 1950 Ye Olde Cheshire Cheese 145 Fleet Street Listed: 1950 Broadgate Square Recommended for listing: 2011
Marston’s to ring changes for landlords June 6, 2011 PUB company Marston’s has won approval from the British Franchise Association to changes its tenancy agreements, giving the group more influence over how individual landlords run its pubs. Marston’s has been offering its retail agreements to it tenants since 2006, with 230 of its 1,600 pubs now run under the scheme. The deals mean that [...]
WS Atkins sets out plan to tackle pension deficit June 6, 2011 ENGINEERING group WS Atkins has thrashed out a deal with its pension trustees to fill its £293m pension black hole over ten years. The firm will pay up to £32m a year in cash until 2020 to pay down the deficit, and is also in talks with 1,400 employees to cut the link between their [...]
Diageo ends SABMiller deal June 6, 2011 DIAGEO has agreed to buy the last 20 per cent stake in its Kenyan Breweries unit from SABMiller in a $225m (£137m) deal, as part of a wider plan to separate out the two firms’ ties in Africa. East African Breweries, Diageo’s African arm, is also selling its 20 per cent stake in SABMiller’s neighbouring [...]
