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 Snoop Dogg and Jared Leto buy a stake in Reddit as A-list invests $50m
- 2 Prince held a Facebook Q&A and this is the only question he answered
- 3 Car tax disc changes: Two days to go - and they affect you much more than just not displaying a piece of paper
- 4 Now we know whose fault it is if you end up being murdered in Thailand
- 5 35,000 walrus gather ashore on north-west Alaska beach 'for a rest'
Snoop Dogg and Jared Leto buy a stake in Reddit as A-list invests $50m
Five-year-old Iris Grace is raising awareness of autism through her extraordinary paintings
Car tax disc changes: Five facts you never knew about your (almost obsolete) tax disc
The Aral Sea: Nasa pictures show how what was once the fourth largest lake in the world has become almost completely dry
Brad Pitt, on the moment he completely lost his temper with Clint Eastwood's son
Exclusive: 'Putin's Russia has been my biggest regret,' says Nato's outgoing Secretary General
The Osborne Ultimatum: Chancellor’s benefits freeze bombshell will affect ten million households
There’s no excuse for Dave Lee Travis’s behaviour, but we need to keep a sense of proportion
Should gay sex be illegal? 16% of Britons think so
Mark Reckless becomes second Tory MP to defect to Ukip in a month
Benefits 'smart cards' plan revealed by Iain Duncan Smith to stop claimants spending welfare money on alcohol
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