Crown Estate pushing ahead with £1bn Regent Street scheme October 28, 2013 THE CROWN Estate said yesterday it has begun works on the latest stage of its Quadrant development, part of its ambitious £1bn scheme to revitalise and open up the south end of London’s Regent Street. The Quadrant is made up of four blocks at the southern end of Regent Street at the sites of the [...]
Bottom Line: Revamp can’t happen fast enough October 24, 2013 CHANGE can be good – great even – but it always come with risks. For months now Debenhams’ flagship Oxford Street store has been covered in scaffolding, with shoppers pointed towards a temporary entrance before being directed into a store that looks more like a building site than a shopping haven. All signs point to the [...]
Stobart profits get boost from Autologic buy October 24, 2013 BRITISH haulier Stobart Group’s first-half revenue from continuing operations jumped 33 per cent, helped by its acquisition of Autologic Holdings in mid 2012. The company, whose Eddie Stobart trucks deliver goods to retailers like Tesco, reported an underlying pre-tax profit of £13.8m in the six months ended 31 August, up five per cent from a [...]
What the other papers say this morning – 24 October 2013 October 23, 2013 FINANCIAL TIMES Brevan Howard moving out of UK Brevan Howard, the world’s third-largest hedge fund, has moved most of its operations out of the UK, shifting dozens of jobs to the Channel Islands, Switzerland, Asia and the US to escape EU regulation and grow internationally. Three years after opening a satellite office in Geneva, Brevan [...]
City Moves for 24 October 2013 | Who’s switching jobs October 23, 2013 Investec Private Bank The private bank has announced the appointment of Eden Riche as head of high net worth lending. He has previously held senior roles at RBS and Lehman Brothers Europe. Lloyds Bank Commercial Banking Ender Tanar has joined the bank as head of central Europe. He has over 28 years’ experience in the finance [...]
Scottish fairytale not over yet, says Sir David October 23, 2013 SHRUGGING off a nine-division demotion and financial meltdown to return to the pinnacle of English rugby might seem like scaling Everest, unless you have already helped turn Tesco from supermarket into superpower. Sir David Reid saw the retailer become the world’s second largest during his time as chairman and now has designs on domestic, if [...]
Strong results for Sports Direct as clothes shop Republic catapults profit October 23, 2013 Sport Direct International has announced a 15.1 per cent sales increase for the nine weeks to 29 September, with gross profit up 19.4 per cent to £199.8m (from £167.4m like-for-like). (Release) The buying up of clothes shop Republic back in February saw Premium lifestyle sales soar in the period – sales and gross profit from [...]
Russia’s Tinkov sees London listing of TCS price at top end October 22, 2013 RUSSIAN entrepreneur Oleg Tinkov’s consumer credit firm TCS priced its London listing at the top of a target range yesterday, with shares gaining five per cent on debut as investors bet on its ability to capitalise on households’ growing appetite for debt. TCS Holding Group, owner of Tinkoff Credit Systems, has challenged state-controlled banks and [...]
Innovation Diary: British entrepreneurs aren’t lazy – but life could be getting easier for part-time small businesses October 22, 2013 NEW RESEARCH from Hiscox, the insurer, has turned some heads. Its fifth annual study into the entrepreneurial DNA has found that UK small business owners work an average of only 37.6 hours a week – down from 38.5 in 2012. Based on a relatively small sample of 3,000 business owners across six countries, the UK [...]
Infinis to lure investors with £55m payout October 21, 2013 INFINIS Energy, the UK’s biggest independent wind power generator, yesterday unveiled plans to pay a healthy £55m maiden dividend to investors as part of its stock market flotation plans. The business, which is owned by Guy Hands’ private equity firm Terra Firma, is floating a third of the business on the London market next month [...]