Westfield hosts a car boot sale September 6, 2010 SHOPPING centre Westfield London will host a designer car boot sale this month, with designs and exclusive pieces from retailers Whistles and House of Fraser. The mall, in Shepherd’s Bush, will see the goods sold from 20 Hyundai cars in the centre’s car park. The event is to celebrate London Fashion Week, and will run [...]
Uniq’s unique escape trick October 20, 2010 Convenience food maker Uniq has devised a unique way of resolving its crippling pension deficit – by effectively selling itself to its pension trustees. The firm, which supplies sandwiches to Marks & Spencer, is waiting on regulatory clearance to finalise a deficit for equity swap that will sign over 90 per cent of the firm [...]
Zara owner profits up 68pc September 22, 2010 INDITEX, the Spanish group which owns Zara, saw a 68 per cent jump in half-year profit – fuelled by its assault on the online market. The company reported that it had made a net profit of €628m (£534m). Sales reached €5.525bn in the first half, in line with earlier forecasts for the company. Inditex said [...]
Glass towers reflect new opportunities for the City October 31, 2010 LAST week was widely reported as a good news week for the City; two more skyscraper projects – British Land’s Cheesegrater and Land Securities’ Walkie Talkie – were revived and One New Change, the new jewel in the City’s retail offering, opened to huge fanfare and to huge crowds. All of this is of course [...]
Blow for Commonwealth Games August 19, 2010 Two Indian state-run firms have withdrawn their sponsorship of the Delhi Commonwealth Games in October due to allegations of mismanagement. The country’s biggest power producer NTPC and energy transmission firm Power Grid Corporation have scrapped a total of 600m rupees (£8.3m) on the back of the negative publicity. In another blow to the games, Australian [...]
Blow for Commonwealth Games August 19, 2010 Two Indian state-run firms have withdrawn their sponsorship of the Delhi Commonwealth Games in October due to allegations of mismanagement. The country’s biggest power producer NTPC and energy transmission firm Power Grid Corporation have scrapped a total of 600m rupees (£8.3m) on the back of the negative publicity. In another blow to the games, Australian [...]
Investors want clarity on tax and regulation October 17, 2010 AHEAD of this week’s Comprehensive Spending Review, the City of London has published a report looking into the predictability and competitiveness of the UK tax regime and how this impacts upon the financial services industry. The City understands and fully supports the government’s commitment to cutting the fiscal deficit. However, whilst increasing taxes and cutting [...]
Financial services industry must aid economy October 3, 2010 TODAY I will be speaking at the City of London’s Conservative Party Conference fringe event entitled “The Challenge for Financial Services – Helping the UK Economy Grow.” Having already spoken at the Labour and Liberal Democrat Conferences, this is the third time I have attempted to address this issue in as many weeks. The focus [...]
Basel III will be a step in the right direction September 19, 2010 LAST week marked the second anniversary of the collapse of Lehman Brothers. It was also the week the Basel Committee on Banking Supervision chose to release their Basel III recommendations that will shape the future regulation of the global industry for years to come. This is no coincidence; Basel III is designed to prevent a [...]
House of Fraser to open first stores overseas with Middle East expansion February 24, 2010 HOUSE of Fraser is to expand into the Middle East as the retailer attempts to cash in on the popularity of designer brands in the region. The chain could open its first new stores in spring 2012 after sealing a deal with Retail Arabia International. It has 62 stores in the UK and Ireland and [...]