Burlington Arcade is sold for £104m October 24, 2010 BURLINGTON Arcade, one of the world’s oldest shopping centres, has been sold to European real estate firm Meyer Bergman and US property tycoon Joseph Sitt for £104m, the pair said yesterday. The centre near Bond Street, which opened in 1918, will be Sitt’s first purchase in Europe through his investment vehicle Thor Equities. Thor will [...]
GOING OUT October 20, 2010 The most exciting launch on the way this Autumn has to be the brand new Hakkasan Mayfair, opening its doors on Bruton Street mid November. The tucked away Hanway Place original has been an amazing success since its launch nearly 10 years ago. Along with fine, modern Chinese cuisine it ushered in a new breed [...]
IMF issues warning over cuts October 20, 2010 Europe’s recovery is underway but governments must ensure necessary fiscal consolidation does not hurt jobs or growth and can be slowed in some cases if momentum stalls, the International Monetary Fund has said. Earlier this month, the Fund raised its growth outlook for the euro area to 1.7 per cent in 2010 and 1.5 per [...]
Xstrata says financial position “strong” October 19, 2010 Miner Xstrata posted mixed third quarter production data and said financial performance was strong as metals prices remained healthy. “Xstrata’s operating and financial performance continues to be strong and the company’s financial position remains robust,” a statement said. The Anglo-Swiss group also released the first resource estimate for the West Wall copper project, a 50:50 [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 18, 2010 FINANCIAL TIMES CANDOVER POISED TO PULL PLUG ON THEME PARK Candover, the private equity group, is on the brink of ditching plans to sell or float Parques Reunidos, the Spanish theme park operator, after offers from rival buy-out groups came in below its €2bn ($2.8bn) price tag. Apollo Management and a consortium of Advent International [...]
The West End’s smart new club for card sharps October 18, 2010 FOR poker enthusiasts who don’t want to play for thousands of pounds, finding a comfortable environment to get stuck into a live game of poker isn’t easy. You can dabble in piddling pub tournaments (maximum buy-in: £5), try your luck in the rather daunting atmospherve of the few lower-stakes casinos offering poker, or in the [...]
FASHIONABLE WEST END October 17, 2010 RETAILERS in London’s West End have reported an 8.5 per cent year-on-year sales surge in September thanks to fashion-conscious shoppers seeking out new clothes for the Winter season. The New West End Company, which represents stores on Bond Street, Oxford Street and Regent Street, said revamped stores and new lines were behind the sales.
Meddling with forex markets is risky October 11, 2010 ONE of the biggest problems in the City today is that so few people have worked in financial markets long enough to remember how things used to be just 25 years ago. This damaging lack of a collective memory helps to explain why so many investors remain so relaxed about the prospect of currency wars [...]
Jaguar Land Rover exec to quit next year October 11, 2010 Luxury car maker Jaguar Land Rover yesterday said the boss of its Jaguar arm is leaving next year as the company continues to review the future of its UK manufacturing operations. Jaguar Land Rover said the managing director of Jaguar Cars, Mike O’Driscoll, 54, will retire at the end of March 2011 after 35 years [...]
US wades into hedge fund tussle in Europe October 6, 2010 US TREASURY secretary Tim Geithner has warned the French economy minister Christine Lagarde that curbing foreign hedge funds in Europe could cause a rift between the continent at the US government. In a letter, sent late on Tuesday and seen by journalists, Geithner increases pressure on Paris to allow concessions on new European controls for [...]