WHAT THE OTHER PAPERS SAY THIS MORNING May 26, 2010 FINANCIAL TIMES APPLE, HP AND DELL INVESTIGATE FOXCONN AFTER SPATE OF SUICIDES Apple, Dell and HP, three of the world’s largest IT companies, said yesterday they were investigating working conditions at Foxconn after a series of suicides at the huge factory in southern China where Foxconn makes electronic goods. Nine workers at Foxconn’s Shenzhen plant, [...]
Shaftesbury sees West End rents rise May 26, 2010 PROPERTY group Shaftesbury yesterday said tourists travelling to London had not been put off by the economic woes of the Eurozone, as it announced a 14.3 per cent jump in net asset value for the first half of the year. “Although the outlook for the UK and European economies remains uncertain, London’s West End is [...]
CITY MOVES | WHO’S SWITCHING JOBS May 25, 2010 Electra Private Equity Electra has appointed Colette Bowe as chairman after three years on the board. Bowe, an economist, began her career at the Department of Trade and Industry and then became chief executive of the Personal Investment Authority and chairman of European asset management at Robert Fleming. She is currently a board member at [...]
City: cuts are a good first step May 24, 2010 BUSINESSES applauded George Osborne’s decision to wield the axe on Whitehall spending yesterday, but warned the £6.2bn of savings were a drop in the ocean compared to deeper cuts on the horizon. The chancellor won praise for his decision to begin belt-tightening early, as he announced he was scrapping the Child Trust Fund, pulling the [...]
Mulberry opens new flagship May 24, 2010 MULBERRY has secured a deal to move into a new flagship store in Mayfair in another sign that the luxury goods market is seeing a bounce back after the recession. The company has signed a 25-year lease for 50 New Bond Street on a rent of £1.4m a year. The company’s handbags, sported by the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 23, 2010 FINANCIAL TIMES PRINCE ANDREW’S TRADE ROLE DEFENDED Buckingham Palace defended Prince Andrew’s globetrotting role promoting British business on Sunday after a newspaper sting appeared to show his former wife selling access to him for £500,000, offered by a reporter posing as a tycoon. Both the royal household and the government said the Duke of York’s [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 20, 2010 FINANCIAL TIMES BOOK PUBLISHERS FEAR THREAT OF DIGITAL PIRACY Publishers have warned that the fight against illegal copying of digital books could impose a huge cost on the industry, raising fears of a new wave of online piracy. Gail Rebuck, chairman and chief executive of The Random House Group, part of Bertelsmann, said illegal copying [...]
HOW THE AGREEMENT AFFECTS THE CITY May 20, 2010 BANKING • The coalition has agreed to impose some kind of levy on the banking industry, although its exact form has yet to be decided. The Tories want to introduce a fee on banks’ wholesale funding, while the Liberal Democrats would prefer a tax on profits. • There is a vague commitment to tackle “unacceptable [...]
BEST OF THE BROKERS May 20, 2010 BAYER Citigroup reiterates its “buy” rating on Bayer. It says that although some risk-aversion in the run up to the release of Xarelto data is likely to remain a feature of the share price performance, it remains positive on this asset and on the stock and believes the current valuation provides an attractive long-term buying [...]
THE TIPSTER May 19, 2010 THE airline that once billed itself as the world’s favourite is set to report fourth quarter results on Friday, but it has hardly been an upbeat few months for British Airways. Although these profit figures will not include the disruption caused by the volcano in Iceland, the carrier has been mired in an industrial dispute [...]