Johnson to shut over a fifth of dry-cleaning outlets this year July 4, 2012 BRITAIN’S largest dry-cleaning chain said it plans to shut around 100 loss-making stores by the end of the year as it becomes the latest casualty on the high street. Johnson Services Group said the move would leave it with 460 stores and affect several hundred back office and warehousing staff. It did not specify how [...]
Carillion in contract delays July 4, 2012 Uncertainty caused by the Euro-zone crisis has put the brakes on some infrastructure projects in the Middle East and Britain, support services and construction firm Carillion said yesterday. Carillion, which maintains some of Britain’s railways and military bases and has a strong construction presence in Canada and the Middle East, said market conditions in the [...]
Bunzl is buoyed by acquisitions July 4, 2012 International distribution group Bunzl yesterday said it had bought MMH Holding and its subsidiaries from Markus Meier, Daniel Meier and Reto Hofmann. The firm said the acquisition extends its reach in Switzerland, a market it entered two years ago with the purchase of Weita. The business, which trades under the name Distrimondo, reported revenues of [...]
Hunting is trading in line July 4, 2012 Energy services company Hunting said yesterday that it is trading in line. The company said it had been boosted by a pick up in work in the Gulf of Mexico as companies step up work following a period blighted by the Deepwater Horizon BP spill. Hunting chief executive David Proctor said: “Trading in the first [...]
British Airways owner expects Olympics to hit premium traffic July 4, 2012 BRITISH Airlines owner IAG reported a six per cent jump in like-for-like passengers numbers for June yesterday. But the firm, which is running an advertising campaign urging Britons to stay in the country during the Olympics, repeated its forecast that the Games will dampen premium traffic figures during the summer. IAG said it carried 5.05m [...]
Etihad’s revenues take off July 4, 2012 Revenues at Etihad Airways were up 31 per cent in the second quarter as the Abu Dhabi-based airline continued to expand its its global network. The unlisted airline, which recently picked up a 4.99 per cent stake in Virgin Australia and holds a minority stake in Aer Lingus, said second-quarter revenue rose to $1.25bn. It [...]
Unite calls off London bus strike July 4, 2012 The Unite union yesterday called off today’s bus strike, pledging to continue negotiations over bonuses for drivers over the Olympic period. Transport for London intervened in the dispute between the union and bus firms yesterday, offering to give a 50 per cent share of any extra revenues made during the Games to bus staff, on [...]
Heggessey leads Boomerang MBO July 4, 2012 Cardiff-based independent television company Boomerang was the subject of a management buyout led by former BBC1 controller Lorraine Heggessey. The £7.1m takeover will see Boomerang become Boom Pictures, with ex Talkback Thames boss Heggessey its executive chairwoman. The deal has been approved by 81 per cent of Boomerang’s investors , who will receive 77p per [...]
Betfair jumps on horse racing deal July 4, 2012 Betfair yesterfday signed a five-year profit-sharing deal with British Racing which will see the online betting exchange hand over 10.75 per cent of all its UK revenues generated from horse-racing bets. The deal is in place of Betfair’s current voluntary Horserace Betting Levy, and will guarantee a minimum of £40m of funding over the next [...]
CITY MOVES | WHO’S SWITCHING JOBS July 4, 2012 Psigma Psigma Investment Management has appointed Nina Krishna to the newly-created role of chief operating officer. She recently worked as chief operating officer for global banking, markets and private banking for HSBC in Dubai. Krishna has 30 years’ experience in the industry, and has held senior roles at JP Morgan, UBS. She started her career [...]
