Former oil executive is the new Archbishop February 4, 2013 The Bishop of Durham, Reverend Justin Welby, returned to the City yesterday when he was confirmed as the 105th Archbishop of Canterbury at St Paul’s Cathedral. No stranger to the Square Mile, the new Archbishop worked in corporate finance for two oil companies before he retrained as an Anglican priest in his mid-30s. Tweeting to [...]
Spanish poker boom has 888 looking flush February 4, 2013 DESPITE economic woe in Spain and Italy, online poker is proving more popular than ever, internet gambling firm 888 Holdings said yesterday. The company said that better trading in the countries, as well as a boom in mobile gambling, had led to a 13 per cent rise in annual revenues to $376m (£239m). Unlike many [...]
HMV administrators sell stake in GAY nightclub chain to founder February 4, 2013 HMV has sold its majority stake in G-A-Y Group to its founder Jeremy Joseph, marking the collapsed retailer’s final exit from its music venues business. Administrators Deloitte said yesterday that Joseph, who founded G-A-Y 20 years ago and grew the business to four gay and lesbian nightclubs including Heaven, has regained full control in a [...]
Magazine publisher Future sees growth in digital advertising February 4, 2013 MAGAZINE group Future Publishing now takes in more than half of its advertising revenue from digital adverts, the owner of T3 and Total Film reported yesterday. The company said that income from online, tablet and mobile ads have accounted for 54 per cent of advertising revenue since October, up from 45 per cent a year [...]
Oracle lines up $2bn purchase of Acme Packet February 4, 2013 IT giant Oracle is set to buy network equipment maker Acme Packet for $2.1bn (£1.3bn), it emerged yesterday. The purchase is intended to put it in a better position to compete with Cisco Systems in moving data securely over internet networks. The deal is Oracle’s biggest since it bought Sun Microsystems in 2010 for about [...]
Fishmongers’ company buys Tower Vaults February 4, 2013 THE FISHMONGERS’ Company, one of the City of London’s ancient livery companies, has bought the long leasehold interest in Tower Vaults for just over £12.5m. The 46,500 square foot site next to the Tower of London, has 12 shops and restaurants including Costa Coffee and McDonalds. Cluttons acted on the sale to the 700-year-old guild.
Panasonic sees shares rocket on shock profit February 4, 2013 SHARES in Japanese TV maker Panasonic saw their highest increase in 38 years yesterday after a weak yen moved the company into an unexpected profit. The shares rose 17 per cent in Tokyo until the rise was halted by Japan’s daily limit of a 100-yen price increase. In the run up to Japan’s December election, [...]
Hitachi slashes forecasts after its turnaround plan stumbles February 4, 2013 HITACHI yesterday cut its full-year profit outlook by about 13 per cent to ¥420bn (£2.9bn), citing a weak economic recovery in Europe and a slowdown in emerging markets. The sprawling Japanese firm, which is cutting costs and trying to push into growth areas such as infrastructure, posted a 28 per cent fall in its third-quarter [...]
Residential landlord Grainger makes first build-to-rent deal February 4, 2013 GRAINGER, the UK’s largest quoted residential landlord, has acquired its first build to rent scheme in Barking as part of a major regeneration project being developed by Bouygues Development. Grainger said yesterday it will pay £13.7m for the residential part of the scheme comprising of 100 residential units, which it is due to complete in [...]
Greenbank to top forecasts February 4, 2013 WALKER Greenbank, the luxury interior furnishings group, said it expects full-year profits to be at the top end of analyst forecasts after a solid first half performance. The owner of brands including Sanderson, Morris & Co and Zoffany, yesterday said it expected group sales to be up 2.3 per cent to £75.7m in the year [...]
