Tourists will fill West End November 8, 2009 CENTRAL London shops expect to receive a glut of foreign customers this winter, enticed to the capital by the current weakness of the pound. The New West End Company, which represents retailers in Oxford Street, Regent Street and Bond Street, is expecting a 5-10 per cent year-on-year increase in foreign shoppers over the festive period. [...]
China announces it will put another $10bn into Africa November 8, 2009 CHINESE premier Wen Jiabao promised $10bn (£6bn) of low interest loans to African nations over three years, at the opening of the China-Africa summit yesterday. The two-day forum being held in Egypt is being attended by representatives from 50 nations, including Robert Mugabe of Zimbabwe and Omar al Bashir from Sudan. Infrastructure, social programmes and [...]
US banking failures top 120 for the year November 8, 2009 United Commercial Bank, a big San Francisco bank with branches in China, was closed by state regulators this weekend and its operations were acquired by East West Bancorp, also active in both nations. East West said the transaction made it the second-largest independent bank in California. Based in Pasadena, East West has 137 US branches, [...]
Saying “aloha” to the City’s coolest new watering hole November 8, 2009 YOU don’t have to be a millionaire to come here,” says Nick House, before a backdrop of Hawaiian masks, carved screens, coconuts and bamboo chairs. Then he laughs and jokes: “But it helps.” With his business partner Piers Adam, House is one of the biggest names on the London clubbing scene. One of the pair’s [...]
CITY’S BIG SPENDERS PROVE EASY TARGET FOR DEN OF DEBAUCHERY November 3, 2009 AFTER all the talk of City types shying away from blowing their cash in lap-dancing clubs in these bleak post-crisis days, it comes as a bit of a surprise to see that one such chain has opened up yet another den of debauchery on the fringe of the Square Mile. Yes, club operator Secrets, which [...]
Japanese food goes global at this buzzy, brash new lounge in Soho November 2, 2009 Aqua KyotoFifth floor, 240 Regent Street, W1B 3BR020 7478 0540, www.aqua.com.hkCost per person without wine: £42 AQUA KYOTO is a Japanese restaurant opened by a Chinese company, sharing its space with a Spanish restaurant – and it feels like something from brash and showy Los Angeles. Tucked up on the top floor of a building [...]
Plus a change, plus c’est la mme chose October 29, 2009 IT is becoming increasingly clear that the current crisis is much more similar to previous booms and busts than is usually understood. London’s secondary banking crisis of the 1970s, for example, saw a number of financial institutions that raised funds on the money markets go bust after the Bank of England hiked interest rates and [...]
Bag yourself an apartment in the iconic Barbican October 29, 2009 WHEN it comes to residential property in the City, there is nowhere quite like the Barbican. Ever since it was built in the sixties, the brutalist masterpiece has been one of the most iconic buildings in the Square Mile. For those who work in the City there could hardly be a more convenient location – [...]
Campari’s chief is taking a breather before returning to the M&A trail October 25, 2009 Having forked out a cool $2bn (£1.2bn) on 16 separate acquisitions over the past 15 years, it is no wonder that Campari – the world’s sixth largest drinks firm – is now calling for a temporary halt to the spending. Its chief executive, Bob Kunze-Concewitz, recently struck a cautious note due to the downturn that [...]
Returning Cole set for new talks October 25, 2009 LEADERS Chelsea will be looking to speed up contract talks with Joe Cole this week after the England midfielder impressed on his return to the first-team fold at the weekend. Cole, 27, looked back to his very best as he played a starring role in the Blues’ 5-0 victory over Blackburn at Stamford Bridge. The [...]