Qataris make preferred bid for Panmure May 21, 2009 PANMURE Gordon, the 133-year-old City stockbroker, said yesterday it had conditionally raised £23m via a share placing with QInvest, Qatar’s largest investment bank. The firm’s decision to accept QInvest’s proposal came after lengthy deliberations over the merits of two further stakebuilding offers from private equity firm BlueGem and hedge fund SPQR Capital. Under the terms [...]
Cyprus is a place in the sun and a lot more besides May 21, 2009 FOR Britons, Cyprus has turned into something of an upmarket Marbella, without the crowds. With unrealised investment potential and a load more untarnished space in which to enjoy golf, watersports, beautiful landscape and good weather for most of the year, it’s no wonder savvy investors are looking to the island to buy property. What with [...]
Baby boom for Mothercare as its ELC purchase pays off May 20, 2009 MOTHERCARE said yesterday its profits for the year to the end of March had rocketed almost 10-fold, following the acquisition of children’s retailer Early Learning Centre (ELC). But the company warned the weakness in sterling could cause problems later in the year. Pre-tax profits for 2008-2009 at Mothercare were £42.2m, a huge increase on last year’s [...]
UNCERTAINTY STILL REIGNS IN MARKETS May 20, 2009 THERE is considerable confusion in the markets over the fundamental question of whether the global economy has bottomed out. This has resulted in wide swings in sentiment. At the time of writing, the S&P 500 had gained 5.8 per cent in the month to date, largely a result of relief over news coming out of [...]
Dixon the risk-taker changes his tactics to thrive in the recession May 19, 2009 You could almost be mistaken for thinking Mark Dixon, the founder and chief executive of office space provider Regus, is enjoying this recession. Perhaps it is because Regus’ share price has bounced 50 per cent since March. What is clear is that the short, fair-haired, serial entrepreneur who is sitting in one of his flagship [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 19, 2009 FINANCIAL TIMESUS HOUSING OPTIMISM PREMATUREGrowing optimism over the US housing market may be premature, a leading retailer warned yesterday. Frank Blake, chief executive of Home Depot, said housing market signals were still mixed. “We are concerned about the accelerating rates of foreclosures, particularly in the western part of the country,” he said, noting that one [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 19, 2009 FINANCIAL TIMESUS HOUSING OPTIMISM PREMATUREGrowing optimism over the US housing market may be premature, a leading retailer warned yesterday. Frank Blake, chief executive of Home Depot, said housing market signals were still mixed. “We are concerned about the accelerating rates of foreclosures, particularly in the western part of the country,” he said, noting that one [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 18, 2009 FINANCIAL TIMESCASH-STRAPPED TOURISTS AVOID SPANISH SUNBritish tourists impoverished by the weak pound, German holiday makers worried about recession and a domestic market laid low by the sharpest economic contraction for 40 years: it would be hard to imagine a worse combination for Spain’s tourism industry as bookings in many places are down by at least [...]
Boots slashes staff by 1,500 May 18, 2009 ALLIANCE Boots, the chemist, said yesterday it will slash 1,500 jobs at its pharmaceutical wholesale arm, in a bid to save £55m a year to brace itself for “the most difficult market conditions” ever seen at the division. The group pledged to cut the division’s staff by 10 per cent, even though its underlying profits [...]
Boots slashes staff by 1,500 May 18, 2009 ALLIANCE Boots, the chemist, said yesterday it will slash 1,500 jobs at its pharmaceutical wholesale arm, in a bid to save £55m a year to brace itself for “the most difficult market conditions” ever seen at the division. The group pledged to cut the division’s staff by 10 per cent, even though its underlying profits [...]