DARK HORSE HSBC TAKES RETAIL SITE IN LATE BID January 26, 2012 HSBC is committed to the City of London – for its latest retail opening, at least. The Capitalist hears the bank has gazumped a well-known restaurateur to emerge as the new tenant at 1 Bishopsgate, after offering a far higher, undisclosed, sum to turn the disused property into a “premier suite” retail bank in time [...]
GOING OUT January 26, 2012 The festive season witnessed the birth of a plethora of new bars and clubs in the capital, notable amongst them was The Rose on 23 Orchard Street in Marylebone, brought to you by clubland mainstays Nick House and Piers Adam (Whisky Mist, Punchbowl, Mahiki). Their newest project houses a 300 capacity, chic speakeasy-style nightclub with [...]
Mitchells & Butlers sales better than forecast January 26, 2012 Restaurants and pubs group Mitchells & Butlers reported a better than expected first quarter sales rise, benefiting from milder weather over the Christmas and New Year period and strong demand for casual dining. The company, whose chains include Harvester, Toby Carvery and All Bar One, said it was confident of further growth in the year [...]
GROUPON LISTS MILLION DOLLAR TRADER’S DEAL January 25, 2012 RESTAURANTS, holidays, cars – and now trading seminars. Today’s deal of the day on the internet coupon business Groupon is a 95 per cent discount to £19.95 on the trading academy run by the irrepressible hedge fund manager Lex van Dam. To recap: van Dam (right) is the ex-Goldman banker who left to set up [...]
Britain edges closer to recession as GDP falls January 25, 2012 Britain’s economy edged closer to recession in the last three months of 2011, after output contracted for the first time in a year, official data showed. The figures are likely to reinforce expectations the Bank of England will inject more stimulus into the economy next month after BoE Governor Mervyn King warned of an arduous [...]
SNOW POLO AND PIGLET RACING FOR SUPER-RICH January 24, 2012 THERE’S MORE than one top-level summit for bankers in Switzerland this week. At the ski resort of Klosters, The Capitalist hears several members of the business elite have been taxing their champagne-addled brains by betting on racing piglets. At least they would have done if fog hadn’t scuppered the trotters’ Derby. Instead, guests at the [...]
When skiing becomes more like snow-flying January 22, 2012 The American satirist PJ O’Rourke had little time for snow sports. As he put it: “Skiing consists of wearing $3,000 worth of clothes and equipment and driving 200 miles in the snow in order to stand around at a bar and drink.” That might not have been so bad for O’Rourke – he is famous [...]
From Kensington to Farringdon: why London’s prices are buoyant January 19, 2012 WHY ARE PROPERTY VALUES IN CENTRAL LONDON RISING FASTER THAN REST OF THE UK? Prices in Prime Central London are indeed out-performing the rest of the country. Over the last 12 months, average house prices across the UK have remained broadly stable, meanwhile in Prime Central London (PCL), prices rose by 12.1 per cent in [...]
Croydon is reaching for the sky with 55-storey tower January 18, 2012 CROYDON is setting its sights high after approving a 55-storey skyscraper which would rejuvenate the south London borough. The development, expected to cost in the region of £350m, would bring 397 residential units, 217 hotel rooms and over 23,000 square metres of office space to Croydon. The skyscraper would also boast its own restaurant, coffee [...]
BIRLEY CAPS NUMBERS AT HIS DELAYED £20M CLUB January 17, 2012 THE DEVELOPMENT of 5 Hertford Street is progressing “more or less” on track. That’s more or less as in originally scheduled for last November, before being pushed back to this month and now – final answer – March. “Except that’s Easter,” says a spokesman for Robin Birley, the leisure entrepreneur developing the £20m Shepherd Market [...]