We will never know the full extent of City fraud February 1, 2010 ACCORDING to accountancy network BDO’s recent Fraudtrack survey, there was more than £2bn of reported fraud in 2009, a 76 per cent increase on the previous year. The chief motivator for fraud is – perhaps unsurprisingly – greed and a desire for a lavish lifestyle. Other possible motivators, such as debt, marital problems, drugs, alcohol, [...]
WHERE ACROBATS ARE SERVED WITH STEAK February 1, 2010 OVER the past two years, there’s been much talk from restaurateurs of “adding value” in order to entice cash-stripped punters. Great meal deals, the chance to eat at Michelin-starred restaurants without breaking the bank, free choccies at the end – that sort of thing. But recently, the value added concept has been geared up a [...]
THREE OTHER SUPPERCLUB-STYLE RESTAURANTS February 1, 2010 PROUD CABARET Modelled on a 1920s Hollywood supperclub, this City venture offers well-sourced British food from a set menu, a heapin’ helpin’ of atmosphere (think velvet curtains, gilded booths and girls in flapper dresses) and burlesque, jazz or cabaret as you eat your slow roast pork belly and Neal’s Yard cheese and sip fine wine. [...]
FOOD & BOOZE NEWS February 1, 2010 FILM NIGHT AT CINNAMON CLUB Westminster’s favourite Indian restaurant will be hosting cinema nights on Mondays, with a touch more class than a regular night at the movies. Trade popcorn for spiced lotus puffs, flat Coke for Indian inspired cocktails, and nachos for the likes of bangras sausage and mash, tandoori paneer and chicken wings with [...]
John Lewis to open “Olympic” store February 1, 2010 DEPARTMENT store John Lewis is to open a shop next to the 2010 Games site as part of its sponsorship deal. The shop, in Stratford, will sell Olympic merchandise and become the 26th home-grown sponsor. An estimated 10,000 licensed products which will be on sale. The john Lewis Flagship store in Oxford Street will also [...]
Manufacturing activity at 15-year high February 1, 2010 MANUFACTURING activity expanded at its fastest pace in 15 years in January, according to a new survey. The CIPS/Markit manufacturing purchasing managers’ index jumped to 56.7 last month from an upwardly revised 54.6 in December. It was the highest since October 1994 and well above analysts’ forecasts for a reading of 54.0. The improvement came [...]
Ryanair raises profit forecast February 1, 2010 BUDGET airline Ryanair increased its profit forecast for the year after posting a smaller than expected third-quarter loss. Europe’s biggest low-cost airline said a drop in fuel prices had helped to improve the company’s figures. Ryanair’s loss of €10.9m (£9.5m) in the three months to the end of December compared with a €118.8m net loss [...]
Bid battle breaks out for DFS stores January 31, 2010 SEVERAL private equity players are lining up for a bidding war over DFS, the furniture chain owned and chaired by Conservative party donor Lord Kirkham. European rivals Permira, Cinven and Advent International are in the running for the sofa superstore in a development that could steer it away from a mooted stockmarket flotation. The news [...]
Greek jibes anger Mandelson January 31, 2010 BUSINESS secretary Lord Mandelson yesterday dismissed Tory claims that the UK was facing a Greek-style sovereign debt crisis and accused the Conservative opposition of being “unpatriotic”. Mandelson’s comments came as Conservative leader David Cameron softened his stance on fiscal tightening, saying that he did not plan “swingeing cuts” immediately after the election. Cameron said that [...]
Think-tank: the price of homes to jump 20pc January 31, 2010 HOUSE prices are set to rise by a fifth in the next four years as mortgage availability improves and interest rates stay low, although 2011 is expected to be tough, a survey showed. Average prices should grow more than six per cent in 2010 before slowing next year and then rising again in 2012 and [...]
