Wall Street pauses ahead of Fed rates August 9, 2010 US stocks rose yesterday in the quietest session of the year on speculation that the Federal Reserve would signal potential steps to boost the sluggish economic recovery. Volume was a mere 5.71bn shares, compared with last year’s estimated daily volume of 9.65bn shares, as investors were wary of taking new positions before the Fed’s statement [...]
Overseas burger sales boost McDonald’s November 9, 2009 MCDONALD’S said sales at established US restaurants fell 0.1 per cent in October, as expected, but investors welcomed the news yesterday after sales from the rest of the world buoyed overall results. McDonald’s, which has been outperforming its peers, had signaled last month that US October sales would be weak. Analysts said that while the [...]
McDonald’s in Iceland exit October 26, 2009 FAST FOOD chain McDonald’s is closing all of its Icelandic operations in the wake of the country’s financial crisis, it said yesterday. The world’s largest fast-food business said it is pulling the lid on its three Icelandic restaurants because the economy and other challenges have made doing business there financially impossible. The closures of the [...]
McDonald’s in Iceland exit October 26, 2009 FAST FOOD chain McDonald’s is closing all of its Icelandic operations in the wake of the country’s financial crisis, it said yesterday. The world’s largest fast-food business said it is pulling the lid on its three Icelandic restaurants because the economy and other challenges have made doing business there financially impossible. The closures of the [...]
Luminar sales dip further May 13, 2010 Nightclub operator Luminar has suffered pre-tax losses of £110.2m for the year to February. The group, which runs the Oceana and Liquid chains, said it would extend its live music offering and look for more custom from students. The company said chief finance officer Robert McDonald would stand down. Philip Bowcock, currently group financial controller [...]
UK diners flock to McDonalds October 22, 2009 Fast-food giant McDonalds yesterday served up a six per cent rise in pre-tax profits to $1.26bn (£760.7m). Like-for-like sales in Britain jumped 12 per cent as cash-strapped diners took advantage of penny-saving meal deals. Sales rose 5.1 per cent globally. Chief executive Jim Skinner said he believed sales would remain positive in the UK.
WHAT THE OTHER PAPERS SAY THIS MORNING August 25, 2010 FINANCIAL TIMES US CHAINS BEEF UP MEALS TO LIFT PROFITS Fast-food chains in the US are rolling out more expensive premium products after two years of relentless focus on lower priced meals in the hope of recouping profit margins surrendered during the recession of 2008 and 2009. McDonald’s is selling a “smokehouse deluxe” burger in [...]
CITY MOVES | WHO’S SWITCHING JOBS May 13, 2010 State Street Global Advisors The investment manager has appointed Lynn Blake as head of index equity. Blake, 45, is a long-standing veteran of the firm, having first joined 23 years ago. She has held positions as a portfolio manager and head of non-US markets in the global structured products group. She succeeds Paul Brakke, 53, [...]
CITY A.M.’S STUNNING STRIMPEL PROBES THE STRANGE MALE BRAIN July 1, 2010 SUPER-GLAM Sketch last night played host to the debut book launch party of City A.M.’s very own lifestyle editor, Zoe Strimpel. Around 80 select guests were invited to celebrate the publication of What The Hell Is He Thinking?, Strimpel’s eighty-questions-and-answers guide to what goes on in the male brain. “Men are tough to figure out [...]
Former Matalan boss joins Hut April 15, 2010 Angus Monro, the former Matalan chief executive is to join the board of online retailer The Hut Group. Monro is already among a list who have invested in the company, including fund managers Artemis and William Currie, and technology venture capital group Balderton Capital. Hut Group has been earmarked as the UK’s fastest growing online [...]