CAN DE BEERS REFINANCE WITHOUT HELP FROM ANGLO AMERICAN? November 30, 2009 CHARLES KERNOT EVOLUTION“Investing in De Beers would be a positive move for Anglo – there’s little opportunity to increase supply in diamonds and we are looking at a shortfall in supply over demand into 2010. As De Beers is in talks to restructure its debt, it could be that the banks want to see some [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 29, 2009 THE SUNDAYSThe Sunday TelegraphRATE HIKE THREATENS EXISTENCE OF RURAL PETROL STATIONSHundreds of rural petrol stations face closure if an “outrageous” increase in business rates is pushed through next April, forecourt owners have warned. Owners of the UK’s 6,000 independent petrol stations will this week launch a major MP-backed campaign to urge a government body to [...]
Spending down for Xmas November 29, 2009 SPENDING was down over the Black Friday weekend in the US, data out yesterday showed, although more people turned out to peruse the shops than last year. In the post-Thanksgiving period, which traditionally kicks off the holiday shopping rush, average spending was down 7.9 per cent a person as shoppers reined in their spending and [...]
EX-BANKER TO LAUNCH ART FUND VENTURE November 29, 2009 REGULAR readers may remember Nasser Azam, the former equities and derivatives trader at Merrill Lynch who swapped his high-flying City career for life as a humble artist. But it seems Azam has discovered a way to combine his twin passions, having just launched a new art investment fund called the Azam Collection. Actually, it isn’t [...]
Gartmore gears up for acquisitions November 29, 2009 GARTMORE, the City investment house, plans to make strategic acquisitions after it has boosted its balance sheet through its expected £1bn stockmarket flotation. Chief executive Jeffrey Meyer said the firm would look to buy medium-size boutiques whose skill sets complemented Gartmore’s expertise in hedge funds and European equities. Gartmore’s initial public offering is due to [...]
John Lewis experiences week of record sales as Christmas looms November 29, 2009 SALES are soaring at John Lewis, according to sales figures released by the department store this weekend. Figures released for the week ending 28 November show increases in electrical and home technology sales. Sales for the week reached a total of £91.79m reached, 22 per cent more than the same time last year. Televisions, coffee [...]
Selfridges to make 100m November 29, 2009 Selfridges, the London luxury department store group, is today expected to unveil profits of £100m in its 100th year as the store is buoyed by a surge of wealthy overseas shoppers taking advantage of the weak pound. The retailer, which also has stores in Manchester and Birmingham’s Bullring centre and plans to open another in [...]
New Look holds talks with raft of bankers ahead of IPO November 29, 2009 High street fashion chain New Look is ramping up plans for its possible £1.7bn stock market flotation next year and has met with a roster of heavyweight bankers. The budget fashion chain, owned by private equity firms Apax and Permira, is believed to have held a beauty parade of possible advisers including Deutsche Bank, Goldman [...]
Final chapter for Borders November 29, 2009 Borders, the failed bookseller, launched a stock liquidation sale in its 45 stores over the weekend as administrators prepare to shut down its shops. Up to 1,100 Borders UK staff could lose their jobs. MCR, the administrator, is preparing to appoint the restructuring specialist Hilco to liquidate the failed company. Phil Duffy, a joint administrator [...]
Denman set for Aon showdown November 29, 2009 CHAMPION chaser Denman will prepare for the Cheltenham Gold Cup by running in February’s Aon Chase at Newbury instead of heading to Ireland for the Lexus Chase. The Paul Nicholls-trained nine-year-old galloped to a sensational Hennessy Gold Cup win at Newbury on Saturday and will now be giving a well-earned break, sitting out the Christmas [...]