Huge energy costs are the new debt crisis March 4, 2012 GREAT. Just as we begin to think of a world saved from immediate financial collapse as the 7th Cavalry that is the European Central Bank’s (ECB) Long-Term Refinancing Operations (LTRO) and Anglo-Saxon QE swamp the banks with liquidity, along comes the next crisis. The new kid on the block is a familiar foe: exploding energy [...]
Stagecoach in UK rail boost March 1, 2012 STAGECOACH profits are driving forward fuelled by a strong performance at its rail operations in Britain, it said. The FTSE 250 transport company said Virgin Rail, a joint venture in which it owns a 49 per cent stake, was “progressing its bid” for the new West Coast Trains rail franchise which was put up for [...]
Return of the Mayfair home March 1, 2012 It would be disingenuous to call Mayfair “up and coming” – after all, its prestige and attractions have drawn the world’s elite for centuries. But change is afoot: no longer just a haven for hedge funds, designer shops and the odd rich Russian resident, Mayfair’s stock of residential property is rocketing as offices are converted [...]
Stagecoach buoyed by British rail performance March 1, 2012 Transport group Stagecoach said recent trade had been good, driven by strong growth at its rail businesses, and that it was hopeful of winning more rail franchises in Britain. “Overall current trading remains good and we believe the prospects for the group remain positive,” the company said in a statement on Thursday. “The overall profitability [...]
CapCo enjoys value hike and sells properties in West End February 29, 2012 CAPITAL & COUNTIES (CapCo), the owner of Covent Garden Market and Earl’s Court, has unveiled an 11.7 per cent hike in net asset value and the disposal of its West End properties. The listed developer reported a jump in NAV to 166p per share in 2011 thanks in part to a rise in its total [...]
BEST OF THE BROKERS February 22, 2012 COOKSON Deutsche Bank has upgraded the materials specialist to “buy” from “hold” and upped its target price from £6 to £8, citing low consensus forecasts and a very inexpensive current price as a catalyst. The broker sees the first half of this year as the low point in the industrial and steel cycles, and expects [...]
LLOYD’S WEIGHS RISK OF OFFSHORE GAMBLE February 9, 2012 LLOYD’S of London is moving offshore, as The Capitalist hears the insurance group has entered a team in one of the world’s most competitive yacht races – a two-day zigzag around 11 Caribbean islands that is a magnet for seafaring captains of industry. First to arrive in the Caribbean was Marshall Bailey, the COO of [...]
Beijing rents outstrip NY February 7, 2012 BEIJING office rents have soared over 75 per cent over the past year, making China’s capital more expensive to locate an office than New York’s Midtown district, new research shows. Cushman & Wakefield, a property consultant, said Beijing experienced the steepest increase and now ranks as the fifth most expensive office market in the world [...]
From the UK to Silicon Valley and back again February 5, 2012 GLOBALISATION throws up some interesting associations. The western world’s need to stay awake supports the coffee industries of Latin America, Southeast Asia, and Africa; the desires of Japanese, Indians and Chinese consumers to imbibe is helping the UK’s Scotch whisky industry flourish. No less interesting is the case of WANdisco – a tech company that [...]
COOK SNUBS M&B BOARD FOR VILLAGE HOTELS LIFE January 31, 2012 MITCHELLS & BUTLERS offered him a “senior role” following his resignation as chief executive of hotel group Malmaison last September. But Robert Cook turned down the chance to help chairman Bob Ivell steer the FTSE 250 pub group into calmer waters to instead put the Village Hotels brand, part of the Lloyds Banking Group-backed De [...]