Accounting firms facing ban on sale of products to audit clients October 6, 2009 SOME of the City’s biggest accounting firms are facing restrictions on the services they can sell to audit clients, after the financial reporting watchdog launched a review of rules designed to maintain auditor independence. The Auditing Practices Board (APB), a division of the Financial Reporting Council, said it would review whether the sale of non-audit [...]
Mazda fundraising for green cars October 6, 2009 Japanese carmaker Mazda is planning to raise Y96bn (£680m) in a share sale to fund development of hybrid vehicles, as it tries to catch up with “greener” competitors like Toyota and Honda. It said it would offer 363m new shares to investors, equivalent to one-quarter of its outstanding stock, and sell an additional 97m existing [...]
YUM TAKESBITEOUTOFCHINA October 6, 2009 YUM Brands, parent of the Taco Bell, Pizza Hut and KFC chains, posted a quarterly profit that blew past Wall Street’s target, boosted by results from China, and raised its full-year profit forecast. Overall operating profit was up 15 per cent for the third quarter, driven by 32 per cent growth in China.
Iata against airline accusations October 6, 2009 The International Air Transport Association has (Iata) urged governments against using taxes on airlines as a quick-fix solution to cutting emissions. It said the industry was wrongly charged by environmentalists as the “bogeyman of climate change” and viewed by policymakers as a “cash-cow for much-needed revenue” to cope with the downturn.
BNP Paribas launches new fund October 6, 2009 BNP Paribas Real Estate said yesterday it plans to launch a UK commercial property fund for institutional investors and is seeking £150m of commitments for it by end-2009. The property adviser, a BNP Paribas unit, said the closed-ended, five-year fund would be geared up to 50 percent and invested in a diversified portfolio of commercial [...]
Northern Foods sales slow down October 6, 2009 Northern Foods yesterday reported slowing sales growth, but said its recent Fox Biscuits marketing campaign had helped to off-set falling sales in its ready meal business. The group announced a 2.9 per cent increase in underlying sales in the six months to 26 September, a slowdown from the 5.5 percent growth seen in the first [...]
Loyal crowds galvanising top clubs against the recession October 6, 2009 TOP FLIGHT clubs have again demonstrated their ability to resist the effects of the downturn by posting strong attendance figures for the start of the season. Experts had expected clubs to feel the pinch more than ever in the current campaign, the first since Britain officially entered recession in January. But Premier League outfits have [...]
EXPECT MORE WEAKNESS IN GREENBACK October 6, 2009 BORIS SCHLOSSBERGDIRECTOR OF CURRENCY RESEARCH, GFT LAST week’s dismal US unemployment data was a depressing reminder to the currency market that the American economy, which at one time served as the locomotive for global growth, may now be the laggard of the industrialised world. While the recovery continues in the rest of the G20 universe [...]
Long, dark & handsome October 5, 2009 IT HAS been said about diamonds, chocolate, red lipstick and Sauvignon Blanc, but mascara really is a girl’s best friend. In a single stroke it adds allure and definition to your eyes which, in addition to being the windows to the soul, are the key to a good first impression. Making sure you smoulder when [...]
A new star appears in the East October 5, 2009 Eastside Inn38-42 St John Street, Farringdon, EC1M 4AY; tel: 020 7490 9240, www.esilondon.comFOOD *****SERVICE ****ATMOSPHERE ***Cost in restaurant per person without wine: £70 WALKING into the Eastside Inn, the first impression was unfortunate. The rain that was falling hard outside was also falling inside, and we had to step round three champagne buckets to get [...]
