Wall Street should hold off on the champagne for now April 16, 2012 ON first glance, it’s rather hard to find the good news among all the negative numbers in Citigroup’s latest batch of figures. Headline profits and revenues fell slightly and yet the bank’s share price rose 1.8 per cent yesterday, adding around $1.8bn to its value. The rise is a sign that markets think that normality [...]
Fed’s caution hits Wall Street April 4, 2012 US stocks fell for a second day yesterday as investors contemplated a world without monetary stimulus and a poorly received bond auction in Spain suggested the effects of Europe’s funding operations were waning. Selling was broad as indexes tracking nine of the 10 S&P 500 sectors ended lower, with financial, materials and technology shares the [...]
Former Blair adviser sells his PR agency April 12, 2012 TIM Allan, the former spin doctor for BSkyB who started his professional career as a press adviser to Tony Blair, has agreed to sell a majority stake in his public relations firm Portland to the global marketing group Omnicom. The deal values Portland at around £20m (depending on the group’s performance over the next three [...]
McDonald’s in shake up as Europe boss swaps fries for pizza August 16, 2011 MCDONALD’S European president Steve Easterbrook (pictured) has left the company to become chief executive of Pizza Express, after 18 years at the fast food giant. Easterbrook will join the Gondola Group – parent company of the Pizza Express, Zizzi and Ask restaurants – from October, replacing former chief executive Mark Angela at the helm of [...]
The rigour and discipline of classics foster the skills for success in business and life March 4, 2012 WHEN education ministers talk about the skills that business needs, their main focus usually seems to be vocational, especially the so-called Stem subjects: science, technology, engineering and mathematics. Obviously, these are absolutely crucial, but the implication is that non-vocational subjects do not count. But all businesses need people with different skills to manage, develop, finance [...]
Carrefour closes China store March 19, 2012 EUROPEAN retail giant Carrefour is to temporarily close one of its stores in China, a local government official said yesterday, days after state media said the chain was passing off regular chicken as free-range meat. The closure is the latest case of Chinese officials cracking down on foreign brands and comes after food safety authorities said [...]
A winning formula: treats for tough times January 24, 2012 YESTERDAY, the Liberal Democrat deputy Prime Minister Nick Clegg was out posing for the cameras at a McDonald’s training facility in East Finchley. Two or three years ago, such a photo shoot would have been unimaginable. The fast-food giant, a bête noire of the chattering classes, was seen as politically toxic and blamed for everything [...]
A winning formula: treats for tough times January 24, 2012 YESTERDAY, the Liberal Democrat deputy Prime Minister Nick Clegg was out posing for the cameras at a McDonald’s training facility in East Finchley. Two or three years ago, such a photo shoot would have been unimaginable. The fast-food giant, a bête noire of the chattering classes, was seen as politically toxic and blamed for everything [...]
Croydon is reaching for the sky with 55-storey tower January 18, 2012 CROYDON is setting its sights high after approving a 55-storey skyscraper which would rejuvenate the south London borough. The development, expected to cost in the region of £350m, would bring 397 residential units, 217 hotel rooms and over 23,000 square metres of office space to Croydon. The skyscraper would also boast its own restaurant, coffee [...]
PM to hit out at anti-business snobbery in UK February 22, 2012 PRIME Minister David Cameron will attack “anti-business snobbery” in a speech to the Business in the Community conference today. Business is “the most powerful force for social progress the world has ever known”, he is expected to say, just two days after the Confederation of British Industry (CBI) accused some government policies and ministers of [...]