Business News in Brief: 10/10/2010
Sunday 10 October 2010
Bank of America renews Canary Wharf lease
Bank of America is close to agreeing terms to renew its lease at 5 Canada Square in London's Canary Wharf.
The bank, which merged with Merrill Lynch in 2009, occupies 300,000 sq ft of office space on a sublease from Credit Suisse in the building which is owned by private investment bank Evans Randall. The bank had a option to break its lease in 2012 and could have relocated to the Square Mile. It is an important occupier for London's Docklands to retain.
Versace set to report positive growth
Versace will make a half-year statement on Tuesday detailing the latest progress in its restructuring which began when its chief executive, Gian Giacomo Ferraris, took over. The luxury fashion retailer, whose creative designer is Donatella Versace, left, will be the latest Italian fashion house to report what is expected to be positive growth news. Prada and Ferragamo have already forecast a better 2010 after reporting double-digit revenue rises.
Poland to float stake in Warsaw Stock Exchange
Poland's state treasury is to float a 64 per cent stake in the Warsaw Stock Exchange, the largest bourse in central and eastern Europe, on 9 November as part of its privatisation programme. The listing is expected to raise 1.3bn zloty (£285m) and will reduce the treasury's 99 per cent ownership. The exchange, the fastest growing in Europe, has 383 listed companies with a market capitalisation of 727bn zloty. Last year it had an operating profit of 79.5m zloty.
- 1 Scientists create transparent mouse complete with see-through organs
- 2 Pope Francis issues top 10 tips for happiness
- 3 Disney heiress Abigail disowns her share of family profits in West Bank company
- 4 Putin v Obama: Russian deputy prime minister mocks president with catty pictures on Twitter
- 5 Israel's propaganda machine is finally starting to misfire
Russell Brand accuses Sean Hannity of terrorism after aggressive Israel-Gaza debate
Pope Francis issues top 10 tips for happiness
Kenny Ireland dead: Benidorm actor dies aged 68
Justin Bieber posts Instagram photo of Orlando Bloom crying after Ibiza fight 'over Miranda Kerr'
Putin v Obama: Russian deputy prime minister mocks president with catty pictures on Twitter
Land for gas: Merkel and Putin discussed secret deal could end Ukraine crisis
Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
Richard Dawkins tweets: 'Date rape is bad, stranger rape is worse'
Putin is 'thuggish, dishonest and reckless', says British ambassador to US
Boozy, ignorant, intolerant, but very polite – Britain as others see us
A new Russian revolution: The cracks are starting to appear in Putin’s Kremlin power bloc
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