Mitchells & Butlers profits fall May 18, 2012 Restaurant and pub group Mitchells & Butlers has reported a dip in profits as the rising cost of food and fuel undermined rising revenues. The owner of chains including Harvester, All Bar One and O’Neills, which earlier this year faced a shareholder revolt over management and ownership issues, gave scant details on its search for [...]
Sky’s Now TV launches to rival Netflix July 16, 2012 SKY launches its own internet television service Now TV today in an attempt to compete with film-streaming rivals Netflix and LoveFilm. The broadcasting giant, which is trying to reach the 13m British households without a paid TV subscription, will charge £15 a month for on-demand access to hundreds of movies, and offer a pay-per-view service [...]
TRAVEL NOTES June 17, 2012 Summer nights at Soho House Berlin This summer, SHB is unveiling 20 slick new apartments and, in August, non-members can get in on the coolest venue in town. Original Travel offers stays at Soho House Berlin during August including 20 per cent off any room or apartment. Discounted rates from £84. Visit www.originaltravel.co.uk or call [...]
Man Utd unveil IPO in New York to pay off debts July 3, 2012 MANCHESTER United last night filed documents for an initial public offering (IPO) of shares to be listed on the New York Stock Exchange. The size of the offering has initially been listed at $100m yet analysts expect that the figure could change significantly, with the price and quantity of shares yet to be decided. The [...]
Man Utd unveil IPO in New York to pay off debts July 3, 2012 MANCHESTER United last night filed documents for an initial public offering (IPO) of shares to be sold on the New York Stock Exchange. The size of the offering has initially been listed at $100m yet analysts expect that the figure could change significantly, with the price and quantity of shares yet to be decided. The [...]
BEST of the BROKERS July 11, 2012 BALFOUR BEATTY UBS has downgraded the construction company from “buy” to “neutral” and cut the target price from 340p to 310p citing a “less compelling” valuation. The brokerage noted that key comps have de-rated, particularly in the US and said that although Balfour Beatty guided to earnings in line with expectations, “the mix is slightly [...]
CITY MOVES | WHO’S SWITCHING JOBS July 23, 2012 Taylor Wessing Alix Prentice has been appointed partner in the law firm’s financial services regulatory team. She joins from Cadwalader, Wickersham & Taft, where she was special counsel in its financial services group. Prentice has also worked for the Financial Services Authority. Allianz Global Investors Corinne Crawford has been appointed director in the European consultant relations [...]
Ocado to name Tatton-Brown as finance chief June 24, 2012 DUNCAN TATTON-BROWN, the former finance boss of debt-laden gym chain Fitness First, is this week set to be named as the new finance director of online supermarket Ocado. Tatton-Brown was fired along with other top Fitness First executives in February as part of a radical boardroom shake-up by the troubled gym group’s private equity backers, [...]
It can’t come soon enough. Welcome to the new season August 16, 2012 There’s been too much written since the end of the Olympics comparing the (admittedly inspiring) event with the oncoming football season, most of which maintained that football stars are poor role models, football fans are foul-mouthed and more generally that football pales in comparison with the great sporting drama that we witnessed early this month [...]
Joe Lewis raises his stake in M&B December 19, 2011 Billionaire currency trader Joe Lewis’s Piedmont investment vehicle has upped its stake in pub and restaurant group Mitchells & Butlers, a former acquisition target, to over 25 per cent. Piedmont, which in October abandoned plans to make an offer for the group, is now M&B’s largest shareholder with a 25.65 per cent stake. “He’s blocking [...]