Burger King chief named September 9, 2010 3G CAPITAL said yesterday it plans to name Bernardo Hees chief executive of Burger King Holdings when it closes its $3.26bn (£2.11bn) purchase of the world’s second-largest hamburger chain later this year. Hees, who joined the US private equity firm as a partner in July, was most recently boss of America Latina Logistica, Latin America’s [...]
Thorntons is hit by a fresh drop in profit September 8, 2010 CHOCOLATE retailer Thorntons yesterday posted a 2.4 per cent fall in half-year profit as it prepared to name a replacement for outgoing chief executive Mike Davies. Chairman John von Spreckelsen said talks with a prospective new chief were well advanced but he reamained tight-lipped about who the candidate is. Acting chief executive Mark Robson will [...]
PROFESSIONAL SERVICES FIRM OF THE YEAR | The Shortlist September 7, 2010 WHETHER it’s advising firms, publishing reports or driving efficiency, professional services firms are never far from the front line in the City. With their global reach and diversified portfolios, the best-known firms have emerged looking healthy and ready to face the challenges of the new, post-downturn world. Don’t miss the City event of the year – [...]
Q&A: WHAT IS THE DISPUTE ABOUT? September 6, 2010 Q.WHY ARE WORKERS STRIKING? A.London Underground staff, as represented by unions RMT and TSSA, are striking against proposals by London Mayor Boris Johnson and Transport for London (TfL) to cut up to 800 station jobs, including ticketing staff and station management in a bid to save the cash-starved network from a series of government funding [...]
BOOST FOR CITY AS FIRMS HIRE AGAIN September 5, 2010 MORE than 800 new staff are to be recruited by PricewaterhouseCoopers (PwC) as the professional services giant bounced back from recession with a revenue rise. The firm will today announce that it has bounced back from the global financial crisis strongly as it releases its results for the year to the end of June. The [...]
Travelex boss to buy The Office in £43.3m deal September 5, 2010 LLOYD DORFMAN, founder of currency exchange Travelex, is to acquire serviced office company The Office Group for £43.3m. Dorfman is acquiring the company from Bridges Ventures, the private equity firm launched by Sir Ronald Cohen and dedicated to urban regeneration. Dorfman will take over a portfolio of six sites in London and one in Bristol, [...]
Man gets go-ahead to acquire GLG September 1, 2010 MAN GROUP shareholders have given its recommended takeover of GLG Partners the green light, and the firm yesterday appointed GLG’s Emmanuel Roman as chief operating officer for the enlarged group. Over 90 per cent of Man investors yesterday voted in support of the $1.6bn (£1.03bn) buyout of New York-based GLG during the firm’s annual general [...]
Wall St choppy as tech shares decline August 31, 2010 US stocks ended little changed in choppy trading yesterday, closing out an August the bulls would like to forget. Positive data surprises sustained a rally for most of the session, but declines in technology shares capped overall gains. The S&P 500 bounced off the key technical level of 1,040 for the third time in the [...]
BORIS OUT FOR A RIDE WITH KELLY BROOK TO LAUNCH BIKE SCHEME August 31, 2010 Boris Johnson’s love affair with two wheels continued yesterday with the launch of his driver-frustrating Sky Ride scheme, where roads are cleared throughout central London to allow cyclists to take in the sights. But The Capitalist can’t help but think bikes weren’t the only thing on the mind of the red-blooded Mayor. Accompanying him on [...]
Chote is still best man for the OBR August 26, 2010 THE highly respected Institue of Fiscal Studies (IFS) has been a thorn in the side of government – both Conservative and Labour – for as long as I can remember. During the Gordon Brown era it constantly pulled up the then chancellor for overpromising on the public finances and earlier this week it savaged the [...]