Pernod Ricard sells Lindauer October 18, 2010 PERNOD Ricard has sold its Lindauer New Zealand sparkling wine brand to a consortium composed of brewer and drinks distributor Lion Nathan New Zealand and contract winemaker Indevin. The NZ$88m (£42m) sale includes a number of other minor wine brands from Gisborne and Hawke’s Bay. Lion Nathan produces Steinlager and Speight’s beers and distributes leading [...]
London hotels see rises after summer brings tourists flocking into the capital October 18, 2010 AVERAGE room rates in London hotels have increased for the first time in two years, as the summer weather boosted trade. Revenues per available room (revpar) jumped by 19.8 per cent to £117 in the quarter to 30 September – fuelled by a 15.6 per cent increase in average room rates, according to survey by [...]
Chile’s business-minded president calls for free trade and innovation October 18, 2010 THE daring rescue of 33 miners against apparently impossible odds under the full glare of global media attention has helped Chile to capture the world’s imagination. The question for Sebastian Pinera yesterday was whether his country’s economic prospects are also bold and bright enough to make Chile attractive to European investors. The Chilean President’s long-planned [...]
Puma sets up new unit as it hunts for acquisitions October 18, 2010 PUMA’S chief executive Jochen Zeitz will head a new “sports and lifestyle” division at parent company PPR, the French luxury goods and retail conglomerate said yesterday. Zeitz will also become executive chairman at Puma and oversee the search for a new chief executive for the company. And PPR said it will continue to hunt for [...]
FTSE 100 bounces back after a strong performance from the financial sector October 18, 2010 Britain’s top shares rebounded yesterday after falls in the past two sessions, boosted by oils and banks, with better-than-expected results from Citigroup and hopes of more US economic stimulus improving sentiment. The FTSE 100 index ended 39.15 points, or 0.7 per cent, higher at 5,742.52 after falling last Thursday and Friday. The index is up [...]
SABMiller October 18, 2010 SABMILLER yesterday painted a mixed picture with Europe lagging behind emerging economies – particularly in Africa – with lager sales. The company has even resumed reporting results in Zimbabwe after the stabilisation of the currency. On an organic basis volumes were up 14 per cent in Africa while dropping five per cent in Europe. It [...]
New Bond Street ‘best in world’ October 18, 2010 The head of Piaget, one of the world’s leaders in jewellery yesterday said New Bond Street the world’s premier shopping street for jewellery. Speaking as he opened a new flagship store in the street, Philippe Léopold-Metzger said: “No other street in the world matches it for the watches and jewellery industries — not even New [...]
Facebook apps ‘leak’ details October 18, 2010 Facebook was yesterday thrown into a new privacy row after it emerged the site is passing on details of millions of users and their friends to internet firms. An investigation found the social networking site is giving details of users who use apps and games such as the hugely popular FarmVille. The issue affects tens [...]
Wall Street is lifted by robust Citigroup earnings October 18, 2010 US stocks advanced yesterday as stronger-than-expected profit from Citigroup helped financial shares shake off worries that the foreclosure mess could threaten the stability of the housing market. Apple, which hit an all-time high during the regular session, disappointed investors after reporting gross margins and iPad shipments. Its shares skidded five per cent in after-hours trading [...]
First Quantum acquires new Peruvian mine October 18, 2010 FIRST Quantum Minerals said it has paid C$460m (£285m) for Antares Minerals yesterday, in a move to diversify following the confiscation of its copper mine in the Democratic Republic of Congo. Antares’ principal asset is the Haquira copper project in southern Peru, which contains around 3.7m tonnes of copper equivalent. It also lies next to [...]
