Greene King sales boosted by sunshine July 2, 2009 BREWER and pub owner Greene King yesterday said warmer weather had boosted trading in the last eight weeks as drinkers flocked to sunny beer gardens. The group, which owns City pubs Golden Fleece and The Old Tea Warehouse, said like-for-like sales were up 5.2 per cent at Greene King’s managed pubs in the first eight [...]
Greene King sales boosted by sunshine July 2, 2009 BREWER and pub owner Greene King yesterday said warmer weather had boosted trading in the last eight weeks as drinkers flocked to sunny beer gardens. The group, which owns City pubs Golden Fleece and The Old Tea Warehouse, said like-for-like sales were up 5.2 per cent at Greene King’s managed pubs in the first eight [...]
Bear managers acquitted November 10, 2009 TWO former Bear Stearns hedge fund managers were acquitted of fraud charges yesterday. In the first case against players in the US subprime mortgage meltdown that contributed to the financial crisis, a jury in a US District Court in New York found hedge fund managers Ralph Cioffi, 53, and Matthew Tannin, 48, not guilty after [...]
Britain needs to rediscover how to save January 10, 2010 BELIEVE it or not but many forecasters are becoming more upbeat about Britain’s prospects for the coming year. HSBC, whose predictions are always cautious, is expecting growth of 2.2 per cent, much higher than the consensus; others are also becoming more optimistic. I remain more downbeat. But it is worth taking a look at some [...]
US state borrowing for nothing November 23, 2009 THE interest rate on US Treasury bills has dropped below zero in a scenario last seen in 1938, leaving investors in the bizarre position of paying the government for the privilege of lending it money. The collapse in short-term borrowing costs comes as stocks continue to shoot up, a deeply unusual combination last seen during [...]
House sales up, says taxman October 21, 2009 HOUSE sales in the UK lifted over the summer despite the downturn, according to figures released yesterday by HM Revenue & Customs (HMRC). Sales of residential properties costing more than £40,000 rose from 80,000 in August to 82,000 in September. And sales in the three months to the end of September were 11 per cent [...]
Era of cheap mortgages is gone forever October 11, 2009 WITH official interest rates stuck at rock-bottom levels, consumers could be forgiven for wondering why mortgage rates remain so high. The answer, I’m afraid, is that the era of excessively cheap mortgages is gone forever in the UK. Over time, this will be no bad thing but in the short term it will prove cripplingly [...]
WAR ON BANKS AFTER BONUS ROW EXPLODES December 3, 2009 POLITICIANS rounded on bankers yesterday amid fears a windfall tax on bank profits is on the cards for the pre-budget report next week. The concerns came as a report from the National Audit Office (NAO), released today, revealed for the first time that the government has spent £117bn bailing out the banks. Lord Myners, the [...]
Q&A: BUYING November 5, 2009 Camilla DellMANAGING PARTNER AT BLACK BRICKQ. Dear Camilla, I am in the process of buying a house and my surveyor has found some structural problems. Should I be worried? Can I negotiate the price down in order to pay for these faults? At what point should I pull out? A. You should talk to your [...]
Number of US banking failures surges through the 100 mark October 25, 2009 THE number of US banks going bust has passed 100 this year, the highest rate of failure in 17 years. The subprime crisis continues to wreak havoc, with US regulators shutting seven more banks over the weekend. Three banks in Florida alone were wound up bringing the total of failed lenders to 106 in 2009, [...]