Queen and Prince Philip inspect Bank of England’s gold stash December 13, 2012 WHEN they weren’t making insightful observations on the state of the UK’s financial regulation yesterday, The Queen and His Royal Highness The Duke of Edinburgh seemed to enjoy the rest of their visit to the vaults of the Bank of England yesterday. As tradition dictates, the Queen and Prince Philip both signed an unissued £1m [...]
Costa buzzing as fury over rival boosts sales December 11, 2012 CONSUMER anger over the tax affairs of its main rival was highlighted as a reason for better-than-expected sales figures from Costa Coffee yesterday. The UK’s largest coffee chain saw a 7.1 per cent rise in like-for-like sales in the 13 weeks to 29 November, Costa’s parent company Whitbread said yesterday. Commentators put some of this [...]
Buoyant central London is in an economic world of its own December 10, 2012 IF you work or live in central London, you could be forgiven for not believing that the UK remains stuck in a nasty stagnation, let alone at risk of a triple-dip recession, as Vince Cable intimated yesterday. The shops are full, the tubes jam-packed and new skyscrapers are being built; Fortnum and Mason, the department [...]
Lloyds in pole position to eat up D&D London December 9, 2012 TAXPAYER-backed Lloyds Banking Group has emerged as favourite in the race to take over the high end restaurant group D&D London, the firm behind City dining venues like Coq d’Argent, Le Pont de la Tour and The Grand Café at the Royal Exchange. The bank, through its private equity vehicle LDC, is understood to be [...]
Bargains bring home the bacon but bite into profits December 9, 2012 AS DECENT numbers for Nando’s reveal the chain moved into profit last year after three in the red, the cheaper end of the restaurant sector may be turning a corner. The latest figures from BDO indicate that operators including the Restaurant Group and JD Wetherspoon have seen an upturn in trade in September and October. [...]
Nando’s buying spree pays off as the chain returns to profit December 9, 2012 NANDO’S swung back into profit last year after the restaurant chain, famous for its flame-grilled peri-peri spiced chicken, lured more customers through its doors. The company posted £14.7m in profits before tax in the year to 26 February compared with a £7.1m loss the previous year, accounts filed at Companies House show. Nando’s acquired Clapham [...]
Burgers to fuel appetite for M&A activity December 9, 2012 A RESURGENCE in posh burger joints and quality fast food is set to fuel M&A activity in the restaurant sector this year, according to new research published today by accountants BDO. The firm’s annual restaurant and bars report says that while deal volumes remain low compared with the halcyon days of the early 2000s, it [...]
Land Securities to take to the slopes in deal to buy X-Leisure December 4, 2012 LAND Securities yesterday revealed it is to buy a controlling stake in X-Leisure, the owner of venues including the Xscape indoor ski slopes and Brighton Marina, for £110.6m. The property giant has agreed a deal with Capital and Regional and Area Property Partners to buy a further 42 per cent stake in X-Leisure Unit Trust [...]
The men who would be kings of the club scene December 4, 2012 During its short life, Public, Guy Pelly’s London nightspot, met with both triumph and disaster. Soon after it opened in December 2010 it had garnered a reputation as a firm favourite of his pals, Princes William and Harry. And, as one might have expected, it wasn’t long before the youthful, moneyed denizens of the Royal [...]
Rowland and Lewis set to see Icelandic float December 3, 2012 ICELAND’S MP Bank, which is part owned by Tottenham Hotspur owner Joe Lewis and Tory donor David Rowland, yesterday confirmed it was exploring plans to float on the Icelandic stock market in 2014. The Icelandic investment bank, which operates in asset management and M&A advisory, is gearing up for a float on the Nasdaq OMX, [...]