WHAT THE OTHER PAPERS SAY THIS MORNING August 20, 2009 FINANCIAL TIMES UNIVERSAL MUSIC LICENSES SINATRA RIGHTSUniversal Music has secured the international rights to 38 albums recorded by Frank Sinatra, heralding an acceleration of plans to commercialise the entertainer’s estate on the eve of the 40th anniversary of the release of My Way. GAP PROFITS SLIP IN SECOND QUARTERGap, the US specialty clothing retailer, said [...]
FULL CIRCLE IN SPORT RETAILERS’ WILY WORLD August 19, 2009 IS THERE no end to the incestuous intricacies to the colourful sports retail sector? The current hot potato in the industry is the tide of bad feeling towards JJB chairman Sir David Jones, whose past emails criticising the firm’s directors were recently leaked by former chief executive Chris Ronnie, the man widely blamed for bringing [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 19, 2009 FINANCIAL TIMES INVESTCORP REPORTS FIRST LOSSInvestcorp reported its first annual loss in its history after the London and Bahrain-listed investment group suffered big falls on its hedge fund investments and heavy writedowns at its private equity and real estate arms. The company, which made its name investing in retailers Gucci, Tiffany and Saks Fifth Avenue, [...]
Time is right for Broadgate stake sale August 18, 2009 NOTHING symbolised the post Big Bang world in the City more than the development of the Broadgate complex near Liverpool Street and Moorgate in the 1980s. The ice rink and the gleaming buildings fitted out for the likes of Shearson Lehman and SGWarburg were the focal point for the new City, before even the first [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 18, 2009 FINANCIAL TIMES THOMAS COOK SALE PLANA large part of Arcandor’s 53 per cent stake in Thomas Cook could be sold to institutional investors as early as next month as creditor banks of the insolvent German retailer try to claw back their loans. Two people close to the banking consortium said a share placing “theoretically still [...]
TRAIN FARES SET TO DROP NEXT YEAR August 18, 2009 &9632; Rail fares to be cut for first time since privatisation&9632; Cuts come as train firms struggle with franchise payments&9632; Rail companies could hike non-regulated fares to plug gap RAIL fares are set to come down for the first time since privatisation, but there were fears yesterday that commuters might be hit by rising railway [...]
CITY MOVES WHO’S SWITCHING JOBS August 17, 2009 Cheyne Capital ManagementThe alternative asset manager has appointed Paul Ruddleston and Paul Keohane, pictured, as partners. The pair joins from Morgan Stanley, where they were managing directors and spent a combined 26 years. They will be responsible for managing the Cheyne Equity Macro Fund, along with former colleague and head portfolio manager Jorge Giampaoli, who [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 16, 2009 THE SUNDAYSThe Sunday TelegraphBAE WARNS OF CREDIT THREAT TO SUPPLIERSBAE systems has warned that its supply chain is at risk from suppliers failing to obtain adequate credit. The defence giant is supplied by tens of thousands of smaller manufacturers that are far more vulnerable to the funding squeeze than the company itself. BAE has a [...]
London retail sales continue growth despite July washout August 16, 2009 LONDON’S retail sales growth continued to outpace the rest of the UK last month but with the narrowest lead in nine months, figures from the British Retail Consortium (BRC) will show today. The capital’s like-for-like sales increased by 2.2 per cent in July compared with the same month a year earlier when same-store sales were [...]
Economy remains in focus as inflation signs look benign August 16, 2009 LAST week the markets were updated on the views of central bankers from both sides of the Atlantic. In the UK, the Bank of England published their quarterly Inflation Report and from the US we heard comments by the Federal Open Market Committee, accompanying their regular rate-setting meeting. Both presented a benign outlook for inflation. [...]