Crack down on the high cost of living or growth suffers January 22, 2013 THE emergence of competitive economies in the East is a well-known phenomenon. But less understood is the challenge this poses to the West. First, the rising East will squeeze traditional markets (albeit while creating new ones). Secondly, it will turn the terms of trade for primary products against us. We are not powerless, however. Emerging [...]
Hotel Chocolat reports record full-year profit January 20, 2013 HOTEL CHOCOLAT, the upmarket chocolatier, offered some hope to Britain’s beleaguered high streets this weekend after reporting record sales and profits. The retailer and cocoa grower posted a 84 per cent leap in pre-tax profits to £5.4m on sales up six per cent to £63.8m in the year to 30 June 2012. Angus Thirlwell, co-founder [...]
Christmas cheer raises spirits at Greene King January 14, 2013 RECORD numbers of people flocked to Greene King pubs over Christmas as the company ramped up efforts to bring in festive diners. The pub owner and brewer revealed yesterday that like-for-like trading in its establishments was up 2.8 per cent in the six weeks to 6 January, while pub sales were up 6.8 per cent [...]
Greene King enjoys record Christmas trading January 14, 2013 Pub group Greene King hailed a strong festive period this morning, as it posted record sales through Christmas and the New Year. Over the past six weeks, like for like sales growth came in at 2.8 per cent, and Greene King said it enjoyed record Christmas Day sales of £2.7m, up 6.8 per cent year [...]
Shoreditch set for £75m facelift January 10, 2013 PLANS were submitted this week to regenerate a site in London’s East End that has lain derelict for more than 30 years into a new £75m commercial hub. The proposed scheme, known as Shoreditch Village, will create 150,000 square feet of commercial-led space, including a 180-bed hotel, 20,000 sq ft of offices, 42,000 sq ft [...]
Owner of Frankie & Benny’s cashes in on austerity dining January 9, 2013 RESTAURANT Group said yesterday its turnover rose nine per cent last year as more people opted to eat out at its casual dining chains rather than high-end restaurants. The company, which owns the Frankie & Benny’s chains, said it expects to slightly beat analysts’ average forecast for pre-tax profit in the 52-week period of £64m. [...]
Hunger for profits takes a bite from Chiquito owner’s shares January 9, 2013 THE FTSE 100 is at a four-year high, but you’d still have been better off plumping for mid-range dining rather than blue chip heavyweights over the last six months. The index hasn’t even managed a 10 per cent increase since mid-July, but the Restaurant Group’s shares have risen some 30 per cent over the same [...]
Results season start drags on cliff euphoria January 8, 2013 US stocks fell yesterday, retreating from last week’s rally on the “fiscal cliff” deal in Washington, as companies started to report results for the fourth quarter. After a 4.3 per cent jump in the two sessions around the close of the fiscal cliff negotiations, the S&P has declined a bit, with investors finding few catalysts [...]
What the other papers say this morning January 2, 2013 FINANCIAL TIMES BofA raises lending after years of cuts Bank of America is ramping up mortgage and corporate lending after two years of focusing on capital levels and cost-cutting. Chief executive Brian Moynihan said the company should overtake JPMorgan Chase in direct-to-consumer mortgage lending in the next six months and he had directed bankers to [...]
There’s more to Nassau than relaxation and sun January 1, 2013 IN NASSAU, a red 1970 Gold Leaf Lotus Élan, zooms up the hill. A chequered flag waves and a yellow 1957 Ferrari 500 can be spotted up ahead, with a blue Aston Martin DB5 shimmering in the tropical sun in the distance. Someone who looks like Sean Connery is shaking hands with spectators. It could [...]