New hotel set for Tower area December 5, 2010 A SINGAPORE-BASED consortium, KOP and Reignwood, has purchased the Grade II-listed former Port of London authority headquarters overlooking the Tower of London in a deal thought to be worth over £100m. KOP Properties hopes to convert Ten Trinity Square into its flagship luxury European hotel in time for the London 2012 Olympics after buying it [...]
Twin imposters triumph and disaster lurking December 5, 2010 So here we are just a few weeks before Christmas and those twin imposters triumph and disaster lurk behind every corner. England lose a brilliant World Cup bid that they could never win, only for the cricket team to comprehensively outplay Australia and take control in the Ashes. On Coronation Street four actors will lose [...]
Perform Group names banks for £500m IPO December 5, 2010 DIGITAL sports media specialist Perform Group has named investment banks Morgan Stanley and Credit Suisse to work on a planned £500m flotation for next year, according to weekend reports. People familiar with the matter said last month that owner and billionaire Len Blavatnik was considering an initial public offering of Perform Group on the London [...]
Alliance Trust to battle with shareholders December 5, 2010 INVESTMENT manager Alliance Trust, the FTSE 100 firm run by chief executive Katherine Garrett-Cox, is embroiled in a pitched battle with its shareholders after Laxey Partners, which owns 1.3 per cent of the firm’s stock, set up a shareholder action group over the weekend. Laxey co-founder Colin Kingsnorth says that the group has been contacted by [...]
City should lead globally and show benefits locally December 5, 2010 The Square Mile and London are key international assets for the UK, generating export earnings, taxes and corporate profits. But the business that is done in the City and in other centres throughout Britain has a major domestic impact and we must look to maximise this. Therefore we need to find ways of sharing the [...]
Government broadband plan revealed December 5, 2010 THE government will this morning announce an £830m strategy it hopes will make the UK the leading broadband network in Europe by 2015. A new paper will set out plans to stimulate private investment and encourage competition in the industry. This will involve encouraging firms to share their infrastructure in order to lower the costs [...]
The head of the world’s largest law firm reveals his plans for expansion December 5, 2010 The new chairman of Baker & McKenzie has a tricky hand to play. Eduardo Leite, who began his three-year term at the beginning of last month, may lead over 10,000 staff (including 4,000 lawyers) spread over 40 countries in 68 offices. And the firm may have produced the biggest revenues in the industry this year [...]
Bernstein: I need to see a plan for JJB December 5, 2010 RICHARD Bernstein, a director of JJB Sports’ second biggest shareholder, needs to be convinced that the firm has a viable recovery plan before he will stump up for his share of a planned £100m rescue rights issue, he told City A.M. yesterday. “We’re looking to put in money if we were asked, provided there’s a [...]
Hummingbird plans AIM listing to raise £25m December 5, 2010 HUMMINGBIRD Resources is expecting to raise $40m (£25.3m) when it floats its gold mining business on the AIM market on Friday. Explorations have been underway in eastern Liberia where the company is now the largest holder of gold mining licences. Hummingbird is planning to raise money for the next stage of exploration where the company hopes [...]
BEST OF THE BROKERS December 5, 2010 BURBERRY Seymour Pearce rates the luxury fashion retailer a “buy”. The broker believes the company has transformed its operations since the financial crisis and reinforced its image as a “must have” brand. It now looks set to outgrow its market peers with yearly profit growth expected to be 20 per cent in future. GREENE KING [...]
