The Aussie that’s making dynamite Scottish-themed Rhone varieties… December 7, 2011 HEAD SOMMELIER AND MANAGER OF LUTYENS RESTAURANT When I picture an Australian wine-maker, Dave Powell of Torbreck Vintners is pretty much what comes to mind. A big man, the first time I met him he’d just arrived from Scandinavia, where a late night session with some chefs had ended with him branding a restaurant’s name [...]
Osborne to deliver budget on 21 March December 7, 2011 Chancellor George Osborne said he would deliver his 2012 annual budget on March 21. “The budget will be on the March21 ,” Osborne told MPs. The economy is teetering on the edge of contraction, damaged by the euro zone crisis, rising unemployment and strained credit conditions, leaving Osborne’s plan to tackle a record budget deficit [...]
Banks and miners fuel FTSE gains December 7, 2011 Miners and banks fuelled a lift in the FTSE 100 as investor sentiment improved ahead of a crunch Eurozone summit. The blue chip index mirrored Asia and the US where markets recovered from the ratings blow from Standard & Poor’s, which threatened to downgrade 15 nations, including Germany. There is mounting optimism that Eurozone leaders [...]
Industrial output falls at fastest rate for six months December 7, 2011 Industrial output fell more than expected and at its fastest pace in six months in October, official data showed on Wednesday, raising concerns the economy may be heading for recession after a string of weak business data. The Office for National Statistics said industrial output fell 0.7 per cent in October, more than double the [...]
Blacks to be put up for sale December 7, 2011 Blacks Leisure plans to put itself up for sale after the struggling outdoor retailer failed to raise enough funds to carry on the business. The retailer had issued a profit warning last month in the run-up to Christmas, after the retailer in October said it was evaluating all kinds of funding options. “The directors do [...]
Stagecoach profits hit by rail unit December 7, 2011 Transport group Stagecoach reported a bigger-than-expected drop in first-half profit hurt by losses at its East Midlands rail franchise. The bus and rail operator said pretax profit fell 18 percent to £88.7m. Sales in the six months to end-October rose 14 percent to £1.29bn, also below estimates of 1.37 billion pounds. The results were hurt [...]
Numis profits rise driven by M&A December 7, 2011 Stockbroker Numis posted a 13 per cent rise in full-year pretax profitS driven by a near doubling in its mergers and acquisition deal fees, but said it saw no near-term change in difficult market conditions. The firm, which focuses on small to mid-cap clients, said adjusted profit before tax increased to £8.9m in the year [...]
Kesa suffers first half loss December 7, 2011 Electricals retailer Kesa swung to an expected first-half loss reflecting a poor performance at its Comet business in Britain, which is being sold, and weaker second-quarter trading in France. Kesa, whose main business is French market leader Darty, said on Wednesday while all markets were becoming more challenging, it was “well prepared” for the peak [...]
OSBORNE TO REVEAL PAY OF 120 TOP UK BANKERS December 6, 2011 SENIOR banking executives face having their pay packages published after chancellor George Osborne unveiled a new transparency regime for the 15 largest banks operating in the UK. The Treasury says the new rules, which demand the publication of rewards given to the eight most senior non-board executives, will help investors police a bank’s “risk profile”. [...]
Sorrell: Britain must do more to get WPP back December 6, 2011 BRITAIN has not yet gone far enough to lure WPP back to London, Sir Martin Sorrell told City A.M. yesterday. Chancellor George Osborne has staked a large part of his business-friendly credentials on Sir Martin’s signal that his marketing firm WPP will come home in light of reforms to UK taxes on profits made abroad. [...]
