A low-grade offer and stagnant cash could be enough to spark interest May 8, 2011 THOUGH the offer from Guoco is seen as benign, the attention is likely to reignite interest in Rank as a takeover target – particularly after 2011 figures so far showed a two per cent rise in revenues year on year. The double whammy of the smoking ban and the introduction of new Gambling Act provisions [...]
Phoenix four banned from running firms May 8, 2011 THE DIRECTORS who ran British carmaker MG Rover at the time of its collapse have been banned from managing companies for up to six years. The so-called “Phoenix four” of John Towers (pictured), Peter Beale, Nick Stephenson and John Edwards voluntarily agreed to the ban after a lengthy government investigation. They will each serve varying [...]
European Central Bank set for a bumpy ride May 8, 2011 JEAN-CLAUDE Trichet says the European Central Bank (ECB) over which he presides wants to remain flexible. Let us hope his flock of hawks and doves means this because the next few months are going to be a bumpy. What is becoming increasingly clear is that the global manufacturing rebound is slowing down. This is showing [...]
Lib Dems angling for an NHS bill consolation prize May 8, 2011 THE Liberal Democrats are gunning for a run of concessions on the government’s NHS policy as consolation for their drubbing in local elections last week, with deputy prime minister Nick Clegg yesterday threatening to veto the bill. “No bill is better than a bad bill,” Clegg said of the NHS policy that is currently being [...]
Bank to face questioning over inflation May 8, 2011 THE BANK of England releases its latest Inflation Report on Wednesday, with economists increasingly divided over the outlook for price pressures in the UK. Consumer price inflation unexpectedly slowed to four per cent in March, yet official figures released next week could show a rebound for April. Input costs for manufacturers accelerated to 17.6 per [...]
Bumper year for Britain’s ultra wealthy May 8, 2011 BRITAIN’S ultra-wealthy have increased their collective wealth by 18 per cent on last year in a bumper year for City billionaires, according to this year’s Sunday Times Rich List. The top 1,000 multimillionaires have increased their pot by more than £60.2bn. Their total assets are now worth an astounding £395.8bn, just shy of the all-time [...]
Glencore float helps Nat Rothschild climb the list May 8, 2011 CITY high flyers feature prominently in this year’s Sunday Times rich list, as the driver of Britain’s economy continues to grow the wealth of the finance sector’s super rich. There are now 180 financial multimillionaires in the list, up ten on last year. Banking dynasty heir Nat Rothschild has usurped the wealth of his father [...]
CBI: prices up, growth down May 8, 2011 CUTS to the government’s deficit must be seen through despite a slowdown in the outlook for growth, the Confederation of British Industry (CBI) will state today. The message marks the launch of the CBI’s latest economic forecast, which envisages even stronger price pressures on UK households. Since February’s forecast consumer price inflation estimates have been [...]
Wary companies shy away from new office agreements May 8, 2011 LARGE companies stayed put rather than risk signing up for new office space in the last quarter, research seen by City A.M. suggests. Office take-up in central London tumbled by almost half to 2.336m square feet in the first three months of 2011, after a strong end to 2010, according to real estate adviser Equipe. [...]
Extra national holidays and warm days come to the aid of retailers May 8, 2011 APRIL’S Bank holidays and warm weather have provided a welcome boost to the UK’s ailing high street, a survey revealed today. After a disappointing start to the year, retail sales were up 3.7 per cent last month on a like-for-like basis, the BDO high street tracker suggests. “While there are tentative signs that the underlying [...]
