LONDON, May 2 (Reuters) – Hotelier Millennium & Copthorne
said full-year profit would fall below expectations in
2013 after warning the worst of a slowdown in its core Asian
market was not yet over.
M&C, with 100 hotels globally, on Thursday said trading in
Asia, where it makes 40 percent of its revenue, had suffered
from slower growth in China, falling tourist numbers in South
Korea and a host of problems in its biggest market, Singapore.
LONDON, April 29 (Reuters) – Britain said it expects to
appoint lead bank advisers for a possible stock market listing
of Royal Mail Group by the end of May, as it pushes on
with plans to privatise the firm.
In what would be one of the most significant privatisations
of a British asset since John Major’s Conservative government
sold the railways in the 1990s, Business Minister Michael Fallon
said on Monday a listing is the preferred method of sale for
government and that investor feedback so far had been positive.
LONDON, April 29 (Reuters) – Pest control to hygiene group
Rentokil Initial said it had sold its loss-making
courier arm City Link to private equity firm Better Capital,
exiting a business that has dragged on group performance for
Previously described as a “problem child” by Rentokil
bosses, and like an “albatross round the neck of management” by
analysts, City Link has racked up losses every year since 2007
despite efforts to turn it around.
LONDON, April 24 (Reuters) – British hotel and coffee shop
operator Whitbread is on the hunt for high street stores
in Paris as it looks to expand its ever-growing Costa Coffee
chain into France.
Costa has grown rapidly in Britain to 1,500 outlets as
demand grows for coffee on the go, and is set on increasing that
to 3,500 globally by 2016, with a 500-store target in China a
LONDON (Reuters) – British luxury group Burberry (BRBY.L: Quote, Profile, Research, Stock Buzz) calmed fears about slowing demand in China with better-than-expected fourth quarter results as it sold more of its most expensive items.
Burberry said demand from affluent Asian customers for its more expensive handbags and coats helped boost sales. It said “aspirational” shoppers were spending less, but its most affluent customers were spending more and its staff were helping to push more expensive items.
April 4 (Reuters) – Restructuring specialist Hilco could
seal a 50 million pound ($76 million) deal to rescue Britain’s
most high profile entertainment retailer HMV as early as
this Friday, a source familiar with the deal told Reuters.
Hilco is expected to acquire around 130 HMV stores and all
nine cut-price Fopp branded outlets in a deal that could save
2,500 jobs. It has long been the favourite to take HMV out of
administration after the firm bought up its debt in January.
LONDON (Reuters) – Britain’s squeezed high street will receive a much-needed boost on Thursday when camera specialist Jessops is brought back to life by a well-known entrepreneur less than three months after its collapse.
Peter Jones, whose investments span the food, entertainment and media sectors, will reopen six Jessops stores this week, with up to 30 more opening next month.
LONDON, March 28 (Reuters) – Britain’s squeezed high street
will receive a much-needed boost on Thursday when camera
specialist Jessops is brought back to life by a well-known
entrepreneur less than three months after its collapse.
Peter Jones, whose investments span the food, entertainment
and media sectors, will reopen six Jessops stores this week,
with up to 30 more opening next month.
LONDON, March 27 (Reuters) – Merlin Entertainments Group,
the private-equity backed owner of Madame Tussauds and Legoland,
is preparing to go public in either London or New York and has
been meeting with potential investors, its chief executive said
The world’s second largest visitor attraction operator
behind Walt Disney, had revenue of over one billion
pounds for the year to Dec. 29 2012, and was valued at 2.25
billion pounds ($3.41 billion) in 2010 when private equity firm
CVC Capital Partners bought a stake.
LONDON (Reuters) – A British security firm that transports cash for Cypriot banks is working round the clock, sending teams out with police protection to stock bank machines and readying guards for when banks reopen on Thursday.
The world’s largest security firm, G4S, moves cash and will provide guards for Cypriot lenders including Bank of Cyprus and Cyprus Popular Bank, the two biggest, which are to be combined and see large depositors’ accounts frozen under a bailout agreed at the weekend.