LVMH beats forecasts as it sees brands rebound

first_imgThursday 14 October 2010 8:51 pm whatsapp Tags: NULL Share Show Comments ▼ Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp KCS-content LVMH beats forecasts as it sees brands rebound LVMH, the world’s biggest luxury retail group, beat forecasts with a 14 per cent rise in comparable third-quarter sales, driven by the solid recovery of its fashion, wines and champagne businesses.LVMH, the first major European luxury group to publish third-quarter figures, yesterday confirmed the industry’s stronger-than-expected rebound, powered in part by expansion in China and a weak euro attracting tourist shoppers.Analysts had forecast like-for-like sales growth of 11 per cent, compared with a three per cent drop in 2009, the worst year for the luxury goods industry in more than two decades.“LVMH is one of the best ways to play the emerging markets consumer as more than 40 per cent of its sales come from luxury buyers from emerging markets, especially Asia, if you include tourist shopping in cities like Paris, New York and Milan,” said Juan Mendoza who runs a $190m (£119m) Luxury Goods Equity Fund for Clariden Leu, the mature investment fund business of Credit Suisse.“Sales growth exceeded very high expectations,” he added.LVMH said growth of business in China in the third quarter was about the same as during the first half, or 26-27 per cent in local currency. last_img read more

ANALYST VIEWS: DID THE PRIME MINISTER PROVE THAT THE GOVERNMENT IS PRO-BUSINESS IN HIS FIRST CBI SPEECH?

first_imgMonday 25 October 2010 7:59 pm Tags: NULL ANALYST VIEWS: DID THE PRIME MINISTER PROVE THAT THE GOVERNMENT IS PRO-BUSINESS IN HIS FIRST CBI SPEECH? Show Comments ▼ Share KCS-content More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org whatsapp whatsapp MARK LITTLEWOOD | INSTITUTE OF ECONOMIC AFFAIRSIf the coalition is serious about improving the prospects of the private sector, it needs to produce a lengthy list of burdensome rules and regulations it will abolish. This can’t come soon enough.RICHARD LAMBERT | CBIThe Prime Minister demonstrated a real passion for business and an understanding that only business will create growth. There was a welcome emphasis on the need to re-boot our infrastructure.ALISTAIR TEBBIT | INSTITUTE oF DIRECTORS If anything the red tape burden on enterprise is increasing. Ministers have gold-plated the agency workers directive, the default retirement age is to be abolished, flexible working rights are to be extended, and parental leave is to be increased. last_img read more

BUSH TELLS IT HIS WAY

first_img Share BUSH TELLS IT HIS WAY whatsapp KCS-content whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTaco Relish20 Southern Phrases Northerners Don’t UnderstandTaco RelishUndoItsTheVibeThe Cutest 1980’s Stars Are Now In Their 60s, This Is Them NowItsTheVibeUndoGloriousaMan Says He’s From 2030, Presents ProofGloriousaUndoMedical MattersThis Picture Shows Who Prince Harry’s Father Really IsMedical MattersUndoPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoPersonal Loans | Search AdsAmericans May Get Loans Approved Regardless of Credit: Take A LookPersonal Loans | Search AdsUndoNational Penny For Seniors7 Rebates Seniors Only Get If They AskNational Penny For SeniorsUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndo Monday 8 November 2010 9:45 pmcenter_img More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comColin Kaepernick to publish book on abolishing the policethegrio.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comKiller drone ‘hunted down a human target’ without being told tonypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com Former US President George W. Bush claimed that information obtained from terrorist suspects through “waterboarding” prevented terrorist attacks on London and saved British lives. His memoirs are released today in the US. Show Comments ▼ Tags: NULLlast_img read more

Tory MPs urge against Irish bailout

first_img EUROSCEPTIC Conservative MPs urged David Cameron not to use taxpayer’s money to contribute to a bailout fund for Ireland last night. The MPs spoke out ahead of a meeting of European finance ministers today amid speculation Ireland could ask for financial help. and leave British taxpayers with a bill of up to £7bn.Most vocal was Bill Cash, chair of the Common’s European scrutiny committee and a well known Eurosceptic who said: “Not a penny of British taxpayers money should go to bail out Ireland.”Cash claimed Ireland was being bullied by European institutions into accepting a rescue package.Meanwhile, Tory MP Chris Heaton-Harris said: “We have had guarantees in the past that UK taxpayers would not bail out Greece and other Eurozone countries.”Meanwhile, Tory MP Peter Tapsell warned the “potential knock-on effect” of the Irish crisis “could pose as great a threat to the world economy as did Lehman Brothers, AIG and Goldman Sachs in September 2008”UKIP’s economics spokesman Tim Congdon went further still claiming Ireland fatally compromised its economic and political independence by joining the Eurozone in 1999. “The yields on its government bonds have been buffeted around in the last few weeks by announcements from German and French politicians, over which the Irish government has no control,” he said “This is not the UK’s doing, and yet we will have to pick up the tab because of Brown’s duplicity and Cameron’s weakness in the face of the Brussels massif.”However, a Treasury spokesman said: “There has been no application to either fund and it is not helpful to speculate.” As a member of the European Union (EU) Britain has to contribute towards a £50bn community bailout fund controlled by the European Commission. Britain is responsible for 13.6 per cent of the fund in line with its contributions to the EU. However, Britain will not have to contribute towards a further £372bn fund which Eurozone members are required to contribute towards the overall £637bn emergency fund created after the Greek sovereign debt crisis. whatsapp Share Monday 15 November 2010 8:22 pm Tory MPs urge against Irish bailout KCS-content Tags: NULL whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solutionthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterBlood Pressure For LifeWhy Doctors May No Longer Prescribe Blood Pressure MedsBlood Pressure For Life Show Comments ▼last_img read more

Firms don’t trust coalition tax pledge

first_img Share whatsapp KCS-content More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Monday 22 November 2010 7:53 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamNoteabley25 Funny Notes Written By StrangersNoteableyZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times center_img whatsapp THE overwhelming majority of businesses do not think that George Osborne will meet his pledge to make Britain?the most competitive tax regime in the G20, according to a survey of 60 leading firms. Big Four accountancy firm PricewaterhouseCoopers found that 82 per cent of firms thought the chancellor would not keep his promise. However, 77 per cent of businesses surveyed said they were satisfied with the government’s proposed reforms of the much-maligned controlled foreign companies regime, which covers tax on profits made by overseas subsidiaries. “If the UK is to compete with other countries then more needs to be done to deliver stability,” said PwC tax partner Andrew Boucher Show Comments ▼ Firms don’t trust coalition tax pledge Tags: NULLlast_img read more

Margaret Beckett named as president of No 2 AV campaign

first_imgThursday 25 November 2010 8:19 pm MARGARET Beckett, the former Labour foreign secretary, will today be named as the president of the “No to AV” campaign, which aims to secure a “No” vote in next May’s referendum on the alternative vote.The decision to appoint a Labour stalwart – Beckett was party leader for a short spell in 1994– will be seen as an attempt to prove the cross-party, non-partisan nature of the campaign.““This is so important it has to rise above party politics,” she said yesterday. Other Labour campaigners against AV include former Labour home secretary David Blunkett; ex-deputy Prime Minister Lord Prescott; Lord Reid, a serial cabinet minister in Tony Blair’s government; and Lord Falconer, the last Lord Chancellor.Justice secretary Ken Clarke will be a Tory patron opposing AV, along with education secretary Michael Gove; foreign secretary William Hague; former London mayor candidate Steve Norris; and Baroness Warsi, the chairman of the Conservative party. whatsapp Share KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comcenter_img Tags: NULL Show Comments ▼ whatsapp Margaret Beckett named as president of No 2 AV campaign More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPuffer fish snaps a selfie with lucky divernypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comlast_img read more

Greenergy launches bid for Total’s UK forecourts

first_img Share More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com Show Comments ▼ GREENERGY, a supplier of fuel to British supermarket petrol stations, has launched a £1bn-plus bid to buy Total France’s UK retail network.Greenergy’s chief executive Paul Lester said he had held preliminary discussions with the French oil major about buying its portfolio of 780 petrol station forecourts.The supplier, in which the world’s number three retailer Tesco owns a 35.6 per cent stake with the balance held by management and staff, is also interested in acquiring 460 forecourts from US oil firm Murco.In February this year, Greenergy said it was eyeing a flotation in 2011.Russian state-run firm Gazprom and US refining giant Valero were also named in March as possible bidders for Total’s UK network and its Lindsay oil refinery. The Russian company later denied the reports. Total and Greenergy could not be reached for comment yesterday. whatsapp KCS-content whatsappcenter_img Greenergy launches bid for Total’s UK forecourts by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCutethedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterBeach RaiderSee The Woman Bradley Walsh Is Dating At 61Beach Raider Sunday 28 November 2010 9:07 pm Tags: NULLlast_img read more

Goldman loses star trader as he leaves to start hedge fund

first_img Goldman loses star trader as he leaves to start hedge fund Thursday 16 December 2010 8:03 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Share Show Comments ▼ Goldman Sachs star trader Morgan Sze’s plans to raise over $1bn (£640m) for an Asia hedge fund could be a sign of things to come as traders who run own-account trading desks prepare for a Wall Street regulatory clampdown.Hong Kong-based Sze, head of Goldman’s principal strategies group, is to quit to form Azentus Capital, likely one of the biggest hedge fund launches since the onset of the credit crisis and which will have a team of close to 30. Goldman Sachs declined to comment.The move comes as Goldman and other Wall Street banks wind down their proprietary trading desks in light of the “Volcker rule”, named after the former Federal Reserve chairman who authored the regulation to limit the extent to which banks can bet with their own capital. Banks are considering options such as spinning out desks as separate hedge funds or moving them into their asset management units. Morgan Stanley is spinning out FrontPoint Capital while JPMorgan is reassigning its proprietary traders to its asset management unit. center_img whatsapp KCS-content whatsapp Tags: NULLlast_img read more

Brazil moves to curb the real

first_img Brazil took another bold move yesterday to curb its hard-charging currency by making it more costly for banks to bet the real will keep strengthening. The central bank introduced a reserve requirement on banks’ short positions in US dollars – a bet the real will strengthen versus the greenback – in hopes of reducing speculative trading in the foreign exchange market that has pushed the Brazilian currency to a two-year high. The real weakened 0.66 per cent after the measures were unveiled to $1.686. It has gained about 13 per cent since last May, and has been dubbed the world’s most overvalued major currency. KCS-content Thursday 6 January 2011 9:07 pm Share Tags: NULL Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proofcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical Geniusmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Show Comments ▼ whatsapp Brazil moves to curb the real whatsapplast_img read more

IHG raises its dividend as hotels boom

first_img InterContinental Hotels, the world’s biggest hotelier, showed confidence in economic recovery by lifting its final dividend for the first time in three years and set a target for opening more hotels.The British group, home to the InterContinental, Crowne Plaza and Holiday Inn brands, met forecasts with a 22 per cent rise in 2010 profit, driven by demand from Asia, business travellers and a revamp of its Holiday Inn chain.“Across the business and across the world we are seeing some solid growth,” finance director Richard Solomons said, adding an economic recovery that had started in Asia was now looking “very broad based”.InterContinental, with over 4,500 hotels in more than 100 countries, said it would grow its estate by 3-5 per cent a year from 2012, revamp its Crowne Plaza chain and also sell its flagship InterContinental New York Barclay hotel.Its upbeat tone chimed with recent comment from rivals, including US groups Marriott on Monday and Starwood earlier this month. Meanwhile, InterContinental said yesterday that it will launch a new upper mid-scale hotel brand in China by the end of the year, as part of plans to more than double the size of its operations in emerging markets.The group estimates that China will overtake the United States as the world’s biggest hotel market by 2025.THE RETURN of the business traveller – as played by George Clooney (right) in Up in the Air – helped InterContinental Hotels boost annual profits, chief executive Andy Cosslett told City A.M. yesterday. Its upscale brands, which are popular with corporate clients, staged the biggest recovery, with revenues at InterContinental and Crowne Plaza up 10.5 per cent and 16.7 per cent respectively. Cosslett says demand from financial services firms has staged a remarkable recovery, which is good news for IHG because they often spend more on rooms and services.“Financial services went to ground for obvious reasons during the recession, but it’s all come back. These clients like top hotels, and they like luxury suites,” says Cosslett. Revenues at IHG’s Groups & Meetings arm – which hosts conferences and events – are around 17 per cent higher than they were last year. And 27 per cent of bookings were made through its globally negotiated account, which deals directly with big corporates. “Everyone is obsessed with government austerity, but the truth is the corporate world dealt with this much earlier. Everyone was taking out costs in 2008-2009. Now firms are doing what they’re supposed to – meeting people and growing their top line,” says Cosslett. By David Crow whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamUndoBetterBe20 Stunning Female AthletesBetterBeUndoSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsUndo whatsapp IHG raises its dividend as hotels boom More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comMark Eaton, former NBA All-Star, dead at 64nypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comcenter_img Tuesday 15 February 2011 8:06 pm KCS-content Show Comments ▼ Share Tags: NULLlast_img read more