JJB carve up set to give the lion’s share to Sports Direct September 16, 2012 THE SALE of doomed sports retailer JJB is set to be completed early this week, with the biggest slice of the firm’s 180 UK stores to go to Mike Ashley’s Sports Direct. Sources close to the deal said last night that the sale to Sports Direct, being handled by KPMG, was nearing completion although talks [...]
Paralympics lift footfall in West End by a fifth September 16, 2012 FOOTFALL in the West End surged by nearly a fifth during the Paralympic games compared to the year before as retail spending in the area bucked the August gloom, data out today reveals. Figures obtained by Springboard, which monitors high-street shopping numbers, shows footfall in the areas around Piccadilly and Leicester Square increased by 18.7 [...]
Weighing up the market’s odds after St Leger day September 16, 2012 FOR fans of horse racing, there was only one place to be this weekend: Doncaster. It was the annual running of the St Leger, a classic race given extra spice by the prospect of seeing Derby winner Camelot repeat the feat of the great Nijinsky and win flat racing’s Triple Crown. For investors of a [...]
Payday lender Wonga trebles its 2011 profit September 16, 2012 SHORT-TERM loan provider Wonga.com more than trebled its earnings last year, benefiting from a surge in applications by cashstrapped Britons, many of whom have had difficulty obtaining shortterm credit from mainstream banks. Net income rose 269 per cent to £45.8m with revenue growing at the same rate to £185m, the company said yesterday. Wonga offers [...]
Supermarkets slate minimum alcohol pricing September 16, 2012 SUPERMARKETS have hit out at plans for minimum alcohol pricing, despite being told they could make up to £2.2bn in extra profits under proposals to curb binge drinking. Public responses to David Cameron’s plans to introduce a price floor are set to be invited in the coming weeks, with drinks manufacturers set to campaign against [...]
CMC Markets returns to a profit after difficult year for Cruddas September 16, 2012 CMC Markets, the trading platform founded by disgraced former Tory co-treasurer Peter Cruddas, has recorded its first annual profit in three years due to increased market volatility. The value of trades placed with the spread betting company rose 64 per cent in the last year according to documents filed with Companies House, leading to a [...]
Hedge funds jockey for position on Punch Taverns restructure September 16, 2012 PUB company Punch Taverns is being circled by a clutch of hedge funds as it mulls a range of capital restructuring options to stop it drowning in debt. The firm, which has announced plans to dispose of its non-core pub assets to streamline the business from 5,000 pubs to 3,000 pubs, is currently wrapping up [...]
Western Union uses football to transfer funds September 16, 2012 WESTERN Union is no stranger to moving money about, and in its new role as global partner of the UEFA Europa League, it’s planning to do so for charity every time there’s a successful pass on the pitch. The global payment services firm announced its three-year sponsorship of the league this July. Now it is [...]
Nifty fifties set to go under the hammer for children’s charities September 16, 2012 TAKE note. Fans of the industrial revolution can pick up collectible copies of the current £50 note featuring James Watt and Matthew Boulton at a special charity auction organised by the Bank of England on 26 September. The auction will be run by Spink and proceeds go to Kids Company and the British Association for [...]
Win champagne Spot the City landmark September 16, 2012 THERE are only a few weeks to go until the St John’s Ambulance flagship black-tie City quiz evening, which will be raising funds for the life-saving work of the charity. The event is a fabulous evening of champagne, fine dining and general knowledge challenges, including a threecourse dinner, created by Mossiman’s, and a selection of [...]
