ITV is offered Setanta stake June 1, 2009 ITV HAS been offered a 30 per cent stake in Setanta, the struggling pay-TV sports channel, CityAM has learnt. The offer came amid recent talks between the two channels, with Setanta desperate to raise cash to help it fund forthcoming rights payments to the Football Association, the Premier League and other sporting bodies. ITV is [...]
Make the most of summer learn how to turn the park into a gym June 1, 2009 I AM standing in Green Park, puffing and panting, my lungs burning. My arms hurt. My legs are heavy. A line of schoolchildren walks past. If I were them, I would probably be pointing and laughing, but it appears that they are better brought-up than me. I then run towards a bench and start doing [...]
OTHER RELAUNCHED GRAND HOTEL RESTAURANTS June 1, 2009 THE LANDAU AT THE LANGHAMOnce the ballroom of the newly reopened former grand hotel, the Landau offers posh and interesting European haute-cuisine with plenty of fish, and it’s quickly becoming a hot spot for afternoon tea. 1c Portland Place, Regent Street, GB W1B 1JA, tel: 020 7636 1000 HELEN DARROZE AT THE CONNAUGHTThe hotel – [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 31, 2009 THE SUNDAYSTHE SUNDAY TIMES SKY SAYS NO TO SETANTASports organisations including the Scottish Premier League may be forced to stomach deeper-than-expected cuts to their TV income after shareholders in Setanta failed to stump up enough cash to keep the broadcaster alive. Setanta’s financial position was so parlous this weekend that it asked arch-rival BSkyB for [...]
Heineken takes on debt from Globe Pub division May 28, 2009 DANISH brewer Heineken said yesterday it has acquired discount debt from its UK pub management firm, Globe Pub Company, in a bid to reduce its own debts. The beer-maker acquired a further 55.6 per cent of class A1 notes, representing a face value of £111.2m, issued by Globe, meaning it now owns 85.7 per cent [...]
Braford & Bingley’s bid to defer bond interest could be repeated May 27, 2009 BRADFORD & Bingley (B&B) has said it will not pay interest on £325m of subordinated bonds, fuelling speculation that other nationalised lenders such as Northern Rock might follow suit. The bank said last night that it would not pay interest on three tranches of notes, £150m of floating rate notes due on 30 June, £125m [...]
Santander to ditch brands May 27, 2009 SPANISH banking titan Santander brought the curtain down on the Abbey, Alliance & Leicester (A&L) and Bradford & Bingley (B&B) brands yesterday, after a year in which it snapped up some of the UK’s best-known lenders. Santander’s name will hang above some 1,300 branches by the end of the integration process in 2010, or around [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 21, 2009 FINANCIAL TIMESCORUS CHIEF SCRAMBLES TO RESCUE FACTORY DEALCorus chief Kirby Adamsm who took over at the Anglo-Dutch steelmaker last month, faces both the worst fall in steel demand for 60 years and a battle to salvage an agreement to sell the group’s Teesside plant to Marcegaglia. It has emerged that Marcegaglia is having second thoughts [...]
M&B boss out on hedge loss May 21, 2009 THE BOSS of Britian’s biggest pub chain Mitchells & Butlers (M&B) resigned yesterday after the company revealed it would lose a further £69m in a disastrous bet on interest rates and revealed a 48 per cent fall in pre-tax profits to £44m for the six months to 11 April. Chief executive Tim Clarke, stepped down [...]
WHAT DOES TIM CLARKE’S DEPARTURE MEAN FOR MITCHELLS & BUTLERS? May 21, 2009 JOHN BEAUMONT SINGERS “The resignation of Tim Clarke may be a bit of a shock to the market initially. He has been very good at guiding the strategy of the company since its demerger. But this does not change our thoughts that the company is well positioned to continue taking market share and is under-valued. [...]