Uniq set to cut its desserts unit August 22, 2011 UNIQ, the food manufacturer, revealed plans to close its struggling everyday desserts business next year, cutting around 350 jobs, in order to focus on its premium desserts for clients like Muller and Cadbury. Uniq, which changed name from Unigate when it sold its dairy empire to Dairy Crest 11 years ago, was bought by its [...]
Greene King’s bid for Capital is unconditional August 22, 2011 BREWER Greene King’s bid to acquire Capital Pub Company, in a deal that values the 34-strong London pub operator at £70m, has been declared wholly unconditional. Greene King said that as of the first closing date of the offer on 19 August, it had received valid acceptances in respect of 19.795m Capital Pubs shares, representing [...]
HILFIGER TO OPEN NEW LONDON FLAGSHIP August 22, 2011 Tommy Hilfiger is opening its largest UK store in Knightsbridge on 24 November. “I am really excited to open our European flagship store on London’s prestigious Brompton Road,” its eponymous founder told Vogue.
CITY MOVES | WHO’S SWITCHING JOBS August 22, 2011 Savills The property firm has strengthened its building and project consultancy team by hiring surveyors Edward Wilson and Tim Cole, who will be based at the Finsbury Circus office in the City of London. Wilson (pictured) joins Savills from Drivers Jonas Deloitte, where he worked in the building consultancy team for over three years. Cole [...]
BEST OF THE BROKERS August 22, 2011 DP WORLD Nomura retains a “buy” rating for the marine ports operator, with a target price of 1,040p. Forecasts are for first half underlying net profits to be up 13 per cent year-on-year. Gross volumes were up 11 per cent for the first half, while consolidated volumes increased by 2.3 per cent. The broker forecasts [...]
FTSE 100 ends higher after defensives lead a relief rally August 22, 2011 BRITISH blue-chip stocks rose to buck a three-session slide as dividend-yield hunters ploughed back into beaten-down defensive stocks, albeit in low volume, volatile trade that could have further to run, traders said. Vodafone, Royal Dutch Shell and GlaxoSmithKline added most points to the FTSE 100 index yesterday as the recent fall, which took six per [...]
Bargain hunters return to market August 22, 2011 US stocks ended slightly higher yesterday after four weeks of losses as investors hesitated to take big risks without a catalyst for buying. The market was led by large-cap techs and industrials until late in the session when a rally faded. Banks struggled, with Bank of America, the largest US bank, falling 7.9 per cent [...]
Gaddafi’s downfall alone will not slash oil prices August 22, 2011 WHILE there are those who will be watching the news in Libya and see it as a tipping point for oil prices, any substantial cheapness will not come straight away. Events in Tripoli triggered some reactionary selling of Brent crude yesterday, but the road to a return of Libyan oil could be a long one. [...]
LIBYA OFFERS SUPPORT, BUT RISKS REMAIN August 22, 2011 GLOBAL equity markets bounced yesterday offering much-needed relief for bruised investors. After last week’s dismal performance, the major indices were technically oversold. Consequently, traders took the news that hostilities in Libya could be about to end as an excuse to pile back into stocks. But despite the rally, it’s unlikely that we’ve seen the market [...]
Raising hair: new men’s treatment August 22, 2011 I BLAME Ronaldo. When the absurdly sculpted, smooth-as-marble man-boy started appearing on the sides of buses and on billboards in his Armani boxers last year, the game was up: body hair was no longer part of the male ideal. At least David Beckham, Ronaldo’s predecessor in the Armani ads, looked like he could grow a [...]
