£140m deal for Makro UK will boost Booker May 30, 2012 FOOD wholesaler Booker aims to turn around the loss-making cash and carry firm Makro UK after taking it off the hands of German retailer Metro in a £140m deal. It will hand Metro £15.8m and a 9.99 per cent stake in Booker as the two firms agree to work together on improving their supply chains [...]
Jubilee weekend highlight: the ultimate Royal pageant May 29, 2012 Without doubt, the focus of the weekend is the Jubilee Pageant flotilla on Sunday 3 June, running from Putney past Tower Bridge. The procession will be led by the Gloriana, a £1m barge built for the occasion, with 18 oarsman including Olympic athletes Sir Steve Redgrave and Sir Matthew Pinsent. The flotilla is so grand [...]
Get on the starting grid for charity night May 28, 2012 City A.M.is offering readers the chance to win a pair of VIP tickets to a fundraising dinner at Boisdale restaurant in Canary Wharf. The event takes place on Monday week, 11 June, and marks the opening of Motorexpo, the UK’s largest free to enter motor show. All you have to do to enter the draw [...]
London’s developers have a prime role in ensuring its future success May 28, 2012 IF LONDON is to retain its status as a global capital for business in the face of technological revolution and the rise of mega cities in the South and East of the globe, it is vital for property developers to respond to changing business needs. This is not just building new offices that are well [...]
Booker bullish as beats slump May 24, 2012 BOOKER Group, Britain’s biggest cash and carry wholesaler, said it remains on course to meet its expectations for the year despite a challenging economy as it posted a 27 per cent rise in full-year profit. The company, which has over 170 branches that supply convenience stores, restaurants, pubs, schools and prisons, said pre-tax profits increased [...]
CRASH PADS May 24, 2012 For the City’s movers and shakers, it’s the million pound question: do you live in the town centre and save yourself hours of tedious, stressful commuting, safe in the knowledge that you own property in one of the world’s cultural hubs? Or, do you move to the commuter belt, get yourself a bigger house with [...]
Shaftesbury profits rise as West End sites fend off retail gloom May 23, 2012 THE PROSPEROUS West End continued to shelter Shaftesbury from the wider gloom in the retail sector as the London property firm posted a 15 per cent jump in first half profits. The company, which owns 500 properties across London’s key tourist hotspots including Carnaby Street and China Town reported a pre-tax profit of £16.1m in [...]
Stamford Bridge scores with Marco May 22, 2012 RESTAURANT MARCO Stamford Bridge, SW6 1HS FOOD ***** SERVICE **** ATMOSPHERE *** Cost per person without wine: £50 Here’s an odd one: a banker I know is a Gunner: an Arsenal supporter, that is. But, he confesses, he’s also a regular at Stamford Bridge. That’s enemy territory: home of my team, the Blues, Chelsea FC. [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 20, 2012 FINANCIAL TIMES Funds’ €60bn to buy European bank debt Hedge funds and private equity firms have amassed almost €60bn to buy loans from stricken European banks in coming years as many of the continent’s lenders seek to shrink their way to health, according to a PwC survey. PwC estimates European banks have almost €2.5tn of [...]
Mitchells & Butlers profits fall May 18, 2012 Restaurant and pub group Mitchells & Butlers has reported a dip in profits as the rising cost of food and fuel undermined rising revenues. The owner of chains including Harvester, All Bar One and O’Neills, which earlier this year faced a shareholder revolt over management and ownership issues, gave scant details on its search for [...]