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Daily Mail group profits dip on first-half costs
NEWSPAPER group Daily Mail & General Trust (DMGT) saw its first-half performance hit by the cost of disposals, restructuring and redundancies – but yesterday claimed annual earnings were still set to grow.
Thomas Cook’s £94m India deal eases debts
Holiday firm Thomas Cook sold its Indian subsidiary to a Canadian investment house yesterday, raising £94 million to help pay off its debts.
Investors in pole position with £1bn F1 move ahead of IPO
PRIVATE equity firm CVC Capital Partners has sold a 21 per cent stake in Formula 1 to a group of investors for $1.6 billion (£1bn) in cash as the motor racing series gears up for a flotation next month.
Website books up 300 B&B owners
MORE than 300 bed and breakfast owners have signed up to use a website aimed at giving small businesses greater access to Scotland’s £4.2 billion tourism industry by slicing through bureaucracy.
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Caribbean meets Celtic in food and music festival
SCOTLAND’S second-largest whisky distiller and one of the biggest rum brands in the Caribbean have teamed up to sponsor a Celtic food and music festival in Barbados, which has attracted a string of performers in recent years, including former Fairground Attraction singer Eddi Reader.
Fitness First seals deal on debt with lenders
The largest health club group in the world - Fitness First - is close to securing its future after it unveiled a debt deal with its lenders.
Call to axe Edinburgh’s bed tax plan as hotel revenues plunge
Edinburgh’s new council leaders have been urged to axe plans for a “bed tax” as hotel revenues in the capital slump.
11 commentsScottish hotels lose out to Welsh rivals
Scottish hotels saw occupancy and revenues fall in March, underperforming the rest of the UK and highlighting the “fragility” of the sector.
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Tourism star wins top accolade in Scottish marketing awards
HELEN Campbell, who led the team behind VisitScotland’s latest tourism campaign, was last night named marketing star of the year.
1 commentDigital in form for Johnston Press
MEDIA group Johnston Press disclosed yesterday that digital revenues jumped by almost 14 per cent in the 18 weeks to 7 May compared with the same period in 2011 – but total advertising revenues fell 9.1 per cent.
Movie magic: Avengers and the rain boost Cineworld
DISNEY’S Avengers superhero movie and a wet bank holiday weekend have proved to be the perfect combination for Britain’s only listed cinema operator.
Enterprise set to slow pub closures
The UK’s biggest pub landlord said it has completed plans to dispose of a large chunk of its estate after raising £264 million from the sale of more than 1,000 venues over two years.
Thomas Cook shares plunge after it warns of collapse if sale vote is lost
SHARES in beleaguered travel company Thomas Cook slumped dramatically yesterday after it warned shareholders that failure to back its disposal plans would risk its collapse.
UBM latest to suffer shareholder backlash as 48% fail to back pay
MORE than a third of shareholders in events and media group UBM have voted against its executive pay plans, adding it to a growing list of companies to have suffered investor backlashes.
Second period of extra time for Goals Soccer Centres bid
A Canadian pension fund was today given a further extension to the deadline for it to either make a takeover offer for East Kilbride-based five-a-side football pitch operator Goals Soccer Centres or leave the field of play.
Rank strikes deal to buy Gala casinos
Mecca Bingo owner Rank is set to become the UK’s biggest casino operator after staking £205 million on a deal with rival Gala Coral.
Thomas Cook warns that disposals are a must
Thomas Cook warned its shareholders this weekend that their failure to back two disposals could lead to the firm going into administration.
Website boss dismisses ‘threat’ to Scots jobs
DESIGN firms in Scotland are being undercut by a website that allows users to outsource work to Eastern Europe and India at a fraction of the price, sparking fears that buyers will increasingly seek inferior designs at the expense of small British firms and sole traders.
1 commentTrinity MD eyes Sly Bailey job
MARK Hollinshead, the managing director of Trinity Mirror’s national newspaper division, has signalled an interest in taking over from outgoing chief executive Sly Bailey, sources have claimed.
Low-range offer expected as deadline looms for Goals Soccer Centres
AN OPPORTUNISTIC bid is in the offing for Goals Soccer Centres as the latest deadline looms for the Ontario Teachers’ Pension Plan to make an offer for the five-a-side football pitch operator.
Writing’s on the wall for design agency office
A DESIGN agency that has created adverts for Bulmers cider, Gala bingo and Subway sandwiches has hired street artist Conzo to create a giant piece of graffiti for its Glasgow head office.
News Corp profits defy scandals
News Corporation has reported a strong rise in quarterly profits despite continuing legal charges over the phone-hacking scandal.
Broadcaster ITV flags Euro 2012 revenue boost
A likely bumper June for advertising and stronger demand for ITV’s own-made shows signalled a further boost to the broadcaster’s turnaround strategy today.
Topping survives rebels’ vote at William Hill
WILLIAM Hill chief executive Ralph Topping, who last week resigned his Scottish Football Association board commitments because of time constraints, narrowly survived a shareholder rebellion over executive pay yesterday.
Boardroom pay drops as Johnston Press profits dip
Total boardroom pay at Johnston Press fell last year as the publisher of The Scotsman underwent a change of leadership.
TUI buoyed by resilient market
Thomson Holidays owner TUI Travel today said it continued to outperform the UK market as it revealed healthy summer bookings and strong online growth.
Thomas Cook secures lenders deal
STRUGGLING tour operator Thomas Cook has reached a £1.4 billion deal with its lenders that will keep the firm afloat for the next three years in exchange for hefty fees.
3 commentsHeathrow-owner eyes £500m Enterprise
FERROVIAL, the owner of Heathrow airport, is in advanced talks to buy Enterprise, one the of the UK’s largest council services outsourcing companies, in a deal estimated to be worth £500 million.
FanDuel cashes in on US gaming market
AN ONLINE gaming firm has revealed that it will break into profit this year and double the size of its workforce as it continues to push into the giant American market.
Children’s art franchise built on sand
A FAMILY who set up a sand-painting business for children’s parties less than a year ago has secured £50,000 in business angel funding and is moving into Sir Tom Hunter’s Entrepreneurial Spark incubator centre in Ayrshire.
Thomson Holidays’ owner hails a welcome break
THOMSON Holidays owner TUI Travel is tipped to post narrower losses this week and further distance itself from woes at rival Thomas Cook.
Sly Bailey quits Trinity Mirror after threat of rebellion over bonuses
Sly Bailey, chief executive of Daily Record and Sunday Mail publisher Trinity Mirror, yesterday announced she was stepping down amid growing shareholder anger over her pay package.
Company backing for Rupert Murdoch
News Corporation’s board has declared its full confidence in Rupert Murdoch’s “fitness”, insisting he should remain at the helm of the company.
Sky’s declaration of independence from Murdoch’s troubled empire
PAY TV giant BSkyB has underscored its independence from its major shareholder, Rupert Murdoch’s scandal-hit News Corporation, amid suggestions that the satellite group’s broadcasting licence might be at risk.
Tax takes all Wetherspoon extras
PUB chain JD Wetherspoon said it would slow its rate of expansion after the profits from its latest tranche of outlet openings were all swallowed up by tax rises.
Caman get it: Alba’s Freeview slot ‘a threat’ to Scottish local TV stations
COMPANIES bidding for licences to run local television stations in Edinburgh and Glasgow are in danger of being “sidelined” by communications regulator Ofcom, according to an industry expert.
Extra time for Goals takeover approach
The private equity arm of the Ontario Teachers’ Pension Plan (OTPP) has been given a further two weeks to mull a potential takeover bid for East Kilbride-based five-a-side football pitch operator Goals Soccer Centres.
Fly fishing lands boost from film
WOMEN are falling hook, line and sinker for fly fishing in Scotland, according to an industry expert, who claims his company has landed a 60 per cent jump in booking inquiries since the big screen release of Salmon Fishing in the Yemen.
Plan to make Gladstone family legacy a job-spinner for North-east
PLANS to turn the family estate of former Prime Minister Sir William Gladstone into a tourist and leisure venue could create 275 jobs and generate more than £1m a year for the Aberdeenshire economy, according to a feasibility study.
1 commentFully booked: Walliams set to deliver goods for Penguin
The owner of publishing giant Penguin yesterday claimed a “consistently strong” line up of new releases will help its performance this year.
Sorrell talks up 2012 but warns of advertising headwinds in 2013
Advertising giant WPP yesterday described 2013 as a “cloud on the horizon” as it reported rising sales at the start of a year dominated by the Olympics and a US presidential election.
Pearson hopeful over 2012 line-up
The owner of publishing giant Penguin today said a “consistently strong” line up of releases will help its performance this year.
Soccer group has positive Goals
POTENTIAL takeover target Goals Soccer Centres will resume its expansion drive next year after a thorough evaluation of a new building method designed to cut the cost and time in erecting its five-a-side facilities.
- Rangers takeover: Duff & Phelps threaten legal action against BBC
- Family mourn death of Glasgow ‘fight’ schoolboy
- Today’s youth not fit to be employed, says car firm Arnold Clark
- Rangers administration: Fans fear Duff & Phelps claims could scare off Green
- Rangers takeover: triple penalty punishment enough, says Johnston
- Alistair Darling leads ‘No to independence’ fight over tea and biscuits
- Scottish independence: SNP flip-flops over Nato
- Scottish Independence: SNP ‘won’t be Yes campaign’s only voice’
- Today’s youth not fit to be employed, says car firm Arnold Clark
- Scottish independence: ‘People here are best qualified to run Scotland’
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Weather for Edinburgh
Saturday 26 May 2012
Today
Sunny
Temperature: 8 C to 20 C
Wind Speed: 16 mph
Wind direction: North east
Tomorrow
Sunny
Temperature: 11 C to 21 C
Wind Speed: 10 mph
Wind direction: North east
