Olympic slump as ghost town effect worsens August 2, 2012 NEW DATA released yesterday shows just how hard central London has been hit by the Olympics’ focus on the east of the City, with fewer visitor numbers and a significant drop in traffic in the area. Figures from retail specialist Springboard shows that shops and restaurants were much quieter than expected over the first weekend [...]
UK economy hit by fresh blows August 1, 2012 THE UK’S recession looks set to deepen even further after manufacturing output fell in July at its fastest rate for more than three years, according to an influential survey published yesterday. It came as fears mounted that the Olympics are failing to deliver the boost that some economists had hoped for – and in fact are [...]
Imperial grows despite drop in cigarette sales July 24, 2012 IMPERIAL Tobacco yesterday announced improved revenues, despite sales volumes falling as recession-hit Europeans reduce their tobacco consumption. Price rises for its premium brands enabled net revenue to increase by three per cent for the nine months to the end of June, even though the amount of tobacco it sold fell by three per cent during [...]
Sunday shoppers give London retailers a run for their money July 22, 2012 AS THE Olympic torch wound its way around the streets of London yesterday, the city’s shopkeepers did their best to tempt milling spectators through their doors by using new powers to extend their Sunday trading hours. Recent profits at several high street names have fallen flat as the expected Jubilee Jump failed to materialise, and [...]
All the West End wonders July 5, 2012 CHARIOTS OF FIRE Celebrate one of this country’s greatest ever sporting achievements this summer as Chariots of Fire, a new play, lights up the West End at the Gielgud Theatre. Adapted from the Oscar-winning movie, and featuring the original Vangelis score, this is a moving tale of rivalry, and determination in the face of prejudice [...]
Stagecoach profits dented by rail unit June 26, 2012 British bus and rail operator Stagecoach reported a slight fall in full-year profit after its UK rail business delivered a worse-than-expected performance. Scotland-based Stagecoach said its pretax profit for the year to the end of April fell 1.5 per cent to £202.5m on revenues 8.4 per cent higher at £2.59bn. “This reduction was principally due [...]
Gatwick airport profit boosted by emerging market growth June 25, 2012 GATWICK airport yesterday reported a strong rise in full-year profit, helped by traffic growth and the addition of new routes to emerging markets in Asia. London’s second largest airport said earnings before interest, taxes, depreciation, and amortisation rose 17 per cent to £221.5m in the year to the end of March on revenues up 8.6 [...]
Gatwick profit lifted by emerging markets June 25, 2012 Gatwick airport reported a strong rise in full-year profit, helped by traffic growth and the addition of new routes to emerging markets in Asia. London’s second largest airport after Heathrow, saidits earnings before interest, taxes, depreciation, and amortisation rose 17 per cent to £221.5m in the year to the end of March. Revenues rose 8.6 [...]
Australian rules may dent Murdoch’s home advantage June 20, 2012 AFTER the calamitous failure of its BSkyB bid, Rupert Murdoch’s News Corporation has decided to advance its pay TV ambitions in his birth country, bidding A$1.97bn (£1.27bn) for Australia’s Consolidated Media Holdings. If the deal is accepted and gains the necessary regulatory approval, it will double the media giant’s stake in Foxtel, the island continent’s [...]
INDITEX BUYS FLAGSHIP ZARA STORE IN WEST END FOR £155M June 18, 2012 Inditex, the world’s largest fashion retailer, yesterday announced it has bought the flagship Zara store at the heart of London’s West End for £155m. The Spanish-listed group, which owns Zara, said it had bought the 7,000 square-metre property at the intersection of Oxford Street and New Bond Street from German fund manager Deka. Last year [...]