Forget the Champs-Élysées: British consumers have lost their joie de vivre April 3, 2011 THERE was much fanfare last week when Marks and Spencer returned to the Champs-Élysées in Paris. But even if the French flock to the British retailer in droves, which seems somewhat improbable to us, their joie de vivre isn’t being shared by domestic customers. Like-for-like sales in the fourth quarter are expected to be off by [...]
Business says paternity law will hit hard April 3, 2011 BUSINESS groups and trade unions clashed yesterday over the introduction of new employment laws. Over half (52 per cent) of companies say the new regulations, granting extra paternity leave and scrapping the default retirement age, will harm their business, according to a survey. And over a third (34 per cent) said the changes would be [...]
We need to shout about the best things in London April 3, 2011 WHAT is London? A city, yes, but so much more. It is a global centre of finance, sure. It is by some measures the world’s creative capital, from media to theatre to film; home to the world’s most popular music venue and its most popular modern art gallery. The university capital of the world, with [...]
Chief quits Betfair’s LMAX months after retail launch April 3, 2011 THE chief executive of Betfair’s financial betting exchange LMAX has quit just three months after the platform was launched for retail investors. Robin Osmond, a former head of global investment banking at Morgan Stanley, is leaving to “pursue other opportunities in the City”, LMAX said in a statement. Betfair, which owns a majority 75 per [...]
SABMiller eyes Brazil brewery April 3, 2011 SABMiller is said to be considering a bid for Schincariol, Brazil’s second-largest brewer, which has been put up for sale for about $2bn (£1bn). Dutch brewer Heineken could also be interested in the privately owned company it is understood. SABMiller, the world’s number two brewer, declined to comment.
New EasyGym brand to launch April 3, 2011 EasyJet founder Sir Stelios Haji-Ioannou is set to launch a chain of easyGyms across the UK. He plans to open the first two gyms in summer, with the aim of rolling out 10 sites a year from next year. He will be working on the project with private equity firm Fore Fitness. Like other “easy” [...]
Hop film bounces into box office April 3, 2011 Animated movie Hop, about a music-loving teenage rabbit, jumped to the top of box office charts with $38m (£23.6m) in North American ticket sales, according to studio estimates yesterday. The movie, in which comedian Russell Brand voices a young rabbit who will one day become the Easter Bunny, easily outdistanced thriller Source Code, which collected [...]
Correction April 3, 2011 In our edition dated Friday 1 April, an article on the potential sale of Odeon and UCI cinemas by Terra Firma said the private equity house was also mulling a sale of Cineworld. It does not own the Cineworld chain, which is owned by public company Cineworld Group.
Candy bros see £4m loss April 3, 2011 CANDY & Candy, the interior design and property development firm owned by Nick and Christian Candy, slipped to a £4.4m loss in 2010, its accounts showed yesterday. The firm fell to a £4.4m pre-tax loss in the year to the end of June last year from a £2.2m profit in 2009 after sales plummeted to [...]
Chinese growth will benefit City of London too April 3, 2011 With the debate over how to stimulate UK economic growth still raging, one area we can ill afford to neglect is strengthening our trading relationships through commercial diplomacy. Emerging economies are expected to account for over 50 per cent of global growth over the next five years. Some people view this change in the economic [...]
