FTSE rises on stimulus expectation October 6, 2010 BRITAIN’S top share index closed higher, at a fresh five month peak yesterday led by miners and energy issues as commodities rose on optimism governments will act to stimulate economies around the world. At the close, the FTSE 100 was up 45.63 points, or 0.8 per cent at 5,681.39, its highest close since 26 April. [...]
Russian grocer O’key planning a £315m London share offer October 5, 2010 RUSSIA’S third biggest food retailer O’key plans to raise up to $500m (£315m) in a London share offer to fund expansion, making it the latest Russian firm to revive IPO plans. O’key, which operates a 52-store chain, will launch a global offering of global depositary receipts (GDRs), with each GDR representing one share, by the [...]
Buy City offices for steady income October 5, 2010 CONFIDENCE in UK property has plummeted over recent months. The recent commercial property confidence survey conducted by Lloyds showed that almost half of property professionals now think that property prices will stay flat over the next six months (up from 36 per cent in May). So is now the time to ditch commercial property and [...]
ENLARGED RETURNS TO GREET M&S SHOPPERS October 4, 2010 FINALLY – the working man’s answer to the wonderbra has arrived: M&S has just unveiled its brand new range of “enhancing underpants” for men. The pants come in two styles: “a bum-lift pant” and a “frontal enhancement pant”, one intended to project the image of a well-firmed posterior and the other giving City money men [...]
London &?Stamford sells Aintree shopping centre October 4, 2010 PROPERTY investor London & Stamford completed the £101m sale of its shopping centre near Aintree racecourse yesterday. The firm, which last week listed on the London Stock Exchange and turned into a more tax-efficient real estate investment trust (REIT), sold the Liverpool mall to the Crown Estate, the royal family’s land portfolio. The Guernsey-based company [...]
Coalition still too complacent on tax October 3, 2010 IT IS heating up here in Birmingham at the Conservative Party conference. George Osborne is about to launch a scathing attack on Ed Miliband for failing to grasp the importance of cutting the deficit; and a deal has been agreed to sweep away the plethora of incentive-destroying benefits, eventually replacing them with a single payout [...]
Foyles to open a shop in One New Change October 3, 2010 BOOKSELLER Foyles is to open its first branch in the City after signing for space in the One New Change shopping centre near St Paul’s Cathedral. The book shop’s fifth branch in London will open on 28 October, the same day as the retail centre is set to launch. Land Securities, developer of the mall [...]
Orange JV announces 1,200 jobs will be axed September 30, 2010 EVERYTHING Everywhere, the tie-up between France Telecom’s Orange and Deutsche Telekom’s T-Mobile in the UK, said yesterday it would cut 1,200 back office and management jobs. The company said the roles were duplicated across the two businesses, which merged in July, and will affect around 7.5 per cent of its 16,000 strong workforce. Everything Everywhere [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 29, 2010 FINANCIAL TIMES WAITROSE EYES DUCHY ORIGINALS US PUSH Waitrose is making its first foray into the US through its Duchy Originals range, the label founded by Prince Charles. The supermarket arm of the employee-owned John Lewis Partnership is talking to North American retailers and distributors about selling Duchy Originals products in US stores. PENSIONS REGULATOR [...]
Tap into Asian growth with Far East ETFs September 29, 2010 WHETHER you subscribe to the belief that the 21st century belongs to China or not, there is no doubt that it certainly belongs to emerging markets and particularly to those in the Far East. The story is a familiar one: these countries have transformed themselves from rural backwaters to the new hub of the global [...]