Forget a Bitcoin bubble: A wider crypto revolt is challenging everything December 10, 2013 FOR ALL the talk of a Bitcoin bubble, it’s easy to miss the real significance of what is currently happening. The rise of Bitcoin is just the beginning. Cryptocurrencies are no longer the domain of activists and grassroots movements, they are nothing less than “new money”. Many are waiting for the moment when a central [...]
Letters to the Editor – 28/11 – Scots referendum, Bank ringfence, Best of Twitter November 27, 2013 Scots referendum [Re: Financial and economic flaws in the SNP’s plan make the case for Union, yesterday] I agree with Alistair Darling. Currency union requires political union, as demonstrated by the euro experience. It would be foolish to repeat the same mistake here. Meanwhile, Scotland having its own currency would increase the cost of selling [...]
Stobart profits get boost from Autologic buy October 24, 2013 BRITISH haulier Stobart Group’s first-half revenue from continuing operations jumped 33 per cent, helped by its acquisition of Autologic Holdings in mid 2012. The company, whose Eddie Stobart trucks deliver goods to retailers like Tesco, reported an underlying pre-tax profit of £13.8m in the six months ended 31 August, up five per cent from a [...]
Land Securities sells RBS offices on the South Bank for £315m October 10, 2013 LAND SECURITIES has sold Royal Bank of Scotland’s flagship offices on the South Bank to M&G Real Estate in a £315m deal. The FTSE 100 landlord said yesterday it has exchanged contracts to sell Bankside 2&3, which are let to the bank until 2027. The 380,000 square feet offices, which sit next to the Tate [...]
Bottom Line: Retailers shouldn’t rely on Asia October 7, 2013 BURBERRY may have been quick to say that Angela Ahrendts’ comments had been taken out of context yesterday, but there’s no doubt that a Chinese slowdown – past, present or future – is weighing heavily on retailers and investors’ minds. Ever since the financial crisis tightened the purse strings of luxury brands’ traditional client base [...]
Crown Estate pushing ahead with £1bn Regent Street scheme October 28, 2013 THE CROWN Estate said yesterday it has begun works on the latest stage of its Quadrant development, part of its ambitious £1bn scheme to revitalise and open up the south end of London’s Regent Street. The Quadrant is made up of four blocks at the southern end of Regent Street at the sites of the [...]
RAC scotches imminent market float with debt refinancing November 13, 2013 THE OWNER of UK breakdown service RAC has ruled out floating the company on the stock market after refinancing some of its debt instead. Carlyle Group, the US buyout giant, is taking out a new £86m loan to help fund a so-called dividend recapitalisation, which allows buyout groups to extract money from a company they [...]
What the other papers say this morning – 02 December 2013 December 1, 2013 FINANCIAL TIMES Mass demonstrations shake Kiev Viktor Yanukovich, Ukraine’s president, was under escalating pressure on Sunday night as hundreds of thousands of protesters poured onto the streets of Kiev demanding the overthrow of his government, after it sought to strengthen relations with Russia at the expense of the EU. With the number of protesters estimated [...]
Scottish fairytale not over yet, says Sir David October 23, 2013 SHRUGGING off a nine-division demotion and financial meltdown to return to the pinnacle of English rugby might seem like scaling Everest, unless you have already helped turn Tesco from supermarket into superpower. Sir David Reid saw the retailer become the world’s second largest during his time as chairman and now has designs on domestic, if [...]
Gilts could link to consumer price inflation September 25, 2013 DEBT management office (DMO) head Robert Stheeman said yesterday that the institution has not ruled out issuing bonds linked to consumer inflation, but is not planning to yet. Speaking at a financial conference in London, the chief executive of the DMO said that the organisation would not issue bonds linked to consumer price inflation (CPI) [...]