Virgin secures funding for RBS branch offer March 22, 2010 Virgin Money has secured financial backing as it seeks to press ahead with a bid for RBS branches. The consumer credit arm of Richard Branson’s Virgin group has arranged financing from Abu Dhabi-based sovereign wealth funds and private equity firm Blackstone, ahead of a bid for 320 Royal Bank of Scotland branches. The branches have an [...]
THREE OTHER RESTAURANTS IN FORMER BANKS March 22, 2010 1 LOMBARD STREET You could argue that 1 Lombard, with its palladian entrance opposite the Bank of England, has the most desirable restaurant location in the City, and it also has some of the best food. Under a fabulous neoclassical dome you can enjoy some serious haute cuisine from chef patron Herbert Berger. 1 Lombard [...]
Irn-Bru maker increases dividend as profits surge March 22, 2010 IRN-BRU maker AG Barr yesterday posted a 21 per cent rise in pre-tax profit with sales also on the up. The company recommended a final dividend of 16.85p, giving a total dividend of 23.1p, up ten per cent from last year. For the 12 months to 30 January, pre-tax profit before exceptional items rose to [...]
Brown: digital Britain could save UK billions March 22, 2010 PRIME MINister Gordon Brown yesterday claimed he could save billions in public spending through new technology. Outlining his vision for the UK’s digital future, he said Labour would introduce a new MyGov website from which people could manage various aspects of their life, including pensions, tax payments, healthcare and education. He said the ambitious project [...]
FOOD & BOOZE NEWS March 22, 2010 THAI NEW YEAR AT MANGO TREE Belgravia’s smart Thai eatery, Mango Tree on Grosvenor Square, is holding a Thai New Year Party on 14 April. The celebration of the Songkran festival will feature a show of traditional dances, while diners can enjoy a special tasting plate of delicacies from across Thailand – including hormok (fish [...]
Investors lash out at Delta over US bid March 22, 2010 DISSIDENT shareholders in engineered steel group Delta have called on other investors to block an agreed takeover offer for the company by Valmont of the US. Valmont has offered 185p a share to take control of Delta, valuing the engineering group at close to £300m. But activist investor Crystal Amber has complained that the offer [...]
Former Morgan Crucible chief to face US officials March 22, 2010 FORMER Morgan Crucible boss Ian Norris, who has been charged with price fixing and obstruction of justice, will be extradited to the US after a last ditch application to the European Court of Human Rights was turned down. The decision means that Norris will now face the US Department of Justice on the charges. Norris’ [...]
Legal sector faces change in fees structure March 22, 2010 COMMERCIAL law firms are facing a period of dramatic change that will force the sector to rethink fee structures and see more power handed to clients, said new research. A survey of general counsel and private practice partners commissioned by law firm Eversheds found that 78 per cent believe the recession will have a lasting [...]
Wolseley sees profits plunge by 34 per cent March 22, 2010 HOUSEBUILDER supplier Wolseley yesterday warned that the economic environment remained volatile, as it posted a sharp drop in half-yearly trading profit. The FTSE 100 group’s trading profit slipped 33.5 per cent to £167m in the six months ended 31 January 2010, compared with £251m in the same period of the previous year. First-half revenue was [...]
OH, FOR THE DAYS BEFORE PURITANS WIELDED THE BUDGET BRIEFCASE… March 22, 2010 BUDGET Days, under New Labour, have become a decidedly austere affair in recent years – and not just because the public finances are spiralling out of control. Alongside bringing a battered red briefcase to the House of Commons, the incumbent chancellor is traditionally allowed to drink from a glass of his favourite tipple while presenting [...]
