Morgan Stanley Online Handelsavgifter

Fed vil frigjøre protokollen fra sitt 31. januar til 1. februar møte klokken 2:00 ET, som kan gi ledetråder om hvorvidt sentralbanken vil heve renten i mars. Politikere, inkludert Fed Chair Janet Yellen, har stoken muligheten for en renteøkning før enn senere. Også på investorer er tankene hvordan Fed ser usikkerhet om økonomisk politikk under. LONDON Lloyds Banking Group sier at den underliggende fortjenesten økte litt i fjerde kvartal, da den begynte å bevege seg utover tidligere skandaler og en regjeringens redning under finanskrisen. Banken sier at underliggende overskudd, som utelukker engangsposter som omstruktureringskostnader, økte til 1,79 milliarder pund fra 1,76 milliarder pund året før. India sjef econ rådgiver ryggen kaller for dårlig bank. NYHET DELHI, 22. februar - Indias finansdepartement på onsdag støttet en oppringning fra India Reserve for å sette opp en institusjon som ligner en dårlig bank, og sa at det var nødvendig med å ta opp urolige lån som veide på banksektoren, som hobblede investeringer og vekst . Hans kommentarer støttet oppriktige synspunkter. Saudi Aramco har bedt JPMorgan Chase og Morgan Stanley for å bistå med sin kommende mammut-børsnotering og kan ringe til en annen bank med tilgang til kinesiske investorer. TD Direct Investing CIO Michelle McGrade sier shes ganske overrasket aksjekursen på Lloyds har steget så mye som den har på onsdag da kommenterer bankenes nylige inntjening. Globale aksjer slår rekordhøyde, Europa gir liten gevinst. LONDON, 22. februar - Globale aksjer slo rekordhøyder på onsdag, og presset gevinster for året over de for hele 2016, mens dollaren steg før Federal Reserve-minutter som ble skyllet for ledetråder på tidspunktet for neste amerikanske rentestigning. Relativt sterke inntjenings sesonger i Europa og United. Som den mest utsatte blant de store britiske bankene til enhver nedgang i den britiske økonomien, med 97 prosent av sin virksomhet i Storbritannia, har Lloyds forvirret forventninger om at de siste årene stemmer for å slutte at EU vil presse fortjenesten. Aksjer i Britains største boliglånslån steg 3,8 prosent med 0902 GMT, den best performing stock i referansen FTSE 100. JAKARTA, 22. februar - Indonesias største banker må skrive opp planer for å gjenopprette fra potensielt insolvens, et tiltak for å sikre at myndighetene ikke har for å kausjonere dem, sa formanneren til banktilsynet onsdag. Indonesias parlament i fjor vedtok en lov som fastsetter stive, trinnvise protokoller om hvordan myndighetene skal håndtere en. David Benamou, administrerende partner hos Axiom Alternative Investments, sier at Lloyds er en av de europeiske bankene med suksess å gjenoppbygge sin virksomhet. Andrew Slimmon, senior porteføljeforvalter hos Morgan Stanley Investment Management, forklarer hans oppfatning at det fortsatt er stor mulighet for amerikanske finanser. BANGLADESH, MED RETTIGHET TIL FØRSTE AVSLUTNING, TALKING TIL INTERNASJONALE BANKER TIL Å HØY FINANSIERINGSBANKETEKSJON. SHANGHAI, 22. februar - Kinas hovedindekser steg for en tredje dag på onsdag for å nærme seg tre måneders høyder, men gevinster ble avkortet da spekulanter solgte noen nylig noterte finanssektorer. Aksjer i Jiangsu Wujiang Rural Commercial Bank tumbled 9,1 prosent, den største en-dagen siden den ble notert i slutten av november. Fast eiendom aksjer flyttet knapt. MILAN, 22. februar - Italienske banker står fast i hvilke stressede gjeldseksperter kaller skjoldsvinget, fremdeles tvunget til å betale en tung pris for sine tidligere synder til tross for lånedata som tyder på at de vender om hjørnet. Italia har 130 milliarder euro i usannsynlig å betale lån, hvor låntakere er i trøbbel, men forblir i virksomhet. Usannsynlig å betale lån er som purgatory: å unngå. SHANGHAI, 22. februar - Kinesiske finansregulatorer har sirkulert et utkast til rammebetingelser for nye regler som tar sikte på å dempe risikoen i landets blomstrende kapitalforvaltning, ifølge flere kinesiske nyheter og detaljene i utkastet til Reuters. Reglene, formulert av sentralbanken i forbindelse med Chinas verdipapirer, bank og forsikring. NEW YORK - Federal Reserve Board guvernør Jerome Powell snakker om økonomisk utsikt og pengepolitikk før en Forecasters Club of New York luncheon-1800 GMT. DALLAS, USA - Federal Reserve Bank of Dallas President Robert Kaplan diskuterer problemer som står overfor nasjonen og den globale økonomien - 2330 GMT. LONDON - Bank of England Viseformann for. NEW YORK - Federal Reserve Board guvernør Jerome Powell snakker om økonomisk utsikt og pengepolitikk før en Forecasters Club of New York luncheon-1800 GMT. DALLAS, USA - Federal Reserve Bank of Dallas President Robert Kaplan diskuterer problemer som står overfor nasjonen og den globale økonomien - 2330 GMT. LONDON - Bank of England Viseformann for. Chinas økonomiske vakthunder vurderer å kaste et stort nytt reguleringsnett over landskygge banksektoren, rapporterer SCMP. Traders er fokusert på utgivelsen av minutter fra Feds Jan. 30 - Feb. 1 møte, på grunn av onsdag kl 1900 GMT. Også på radaren er president Donald Trumps adressert til kongressen 28. februar, som analytikere og forhandlere håper vil gi detaljer om infrastrukturutgifter og skattemessige nedskæringer. Bank of England Governor Mark Carney møtte en utfordring fra lovgivere på tirsdag. CANBERRA - Reserve Bank of Australia Governor Philip Lowe vil dukke opp på Representanthuset Stående Økonomiske Komité. CHISINAU - National Bank of Moldova kunngjør rentebeslutning. ANKARA - Central Bank of the Republic of Turkey Pengepolitisk møte. Analytikere Fred Cannon og Jeffery Harte diskuter virkningen av bankskatteduksjoner på finanser. Metoder, avgifter og forskrifter Den grunnleggende måten et mediefirma jobber på er at du lager ting, og du viser det til folk, og de liker å se på det, og så går du til andre selskaper og sier quote se hvor mange folk ser på våre ting, vil du gjerne legge en reklame for dine ting ved siden av våre stuffquot Og de sier ja, og betaler deg. Og du utvikler metrics - measuringxAOhow mange mennesker ser på dine ting, og hvor lenge og hvor rike de er og hvor sannsynlige de skal kjøpe productsxA0-- å overbevise oss om at annonsørene betaler deg mer. Dette er til en viss grad et spørsmål om vitenskapelig måling, men det er for det meste et spørsmål om overtalelse: Din jobb er å lage en fortelling om hvordan det er sikkert at ikke så mange AA folk ser på dine ting, men de er alle hode unge influencersxA0 med disponibel inntekt , så annonsørene bør betale mye for å nå dem. ArtxA0 er ikke i måling av rånumrene itaposs i å forklare verdien gjemt i disse tallene. Slik fungerer et sosialt mediefirma nøyaktig det samme: Du viser folk ting, de ser på det, og bedrifter betaler deg for å vise deres adsxA0 til disse personene. Eller det blir så mye som det fungerer i teorien, og på Facebook. Men tidligere scenes sosiale medier selskaper legger en liten vri på denne prosessen, som er at de ofte donapostxA0 selger så mange annonser. Ennå. Der, xA0 i stedet for å utvikle beregninger til convincexA0 advertisersxA0 for å gi youxA0money, youxA0develop beregninger til convincexA0 investorsxA0 for å gi youxA0money. Kunsten her er mye den samme som i vanlige mediebedrifter: Din jobb er ikke bare for å måle det raske antallet mennesker som ser på dine ting, men å lage en historie om hvor ønskelig disse menneskene er for annonsører, på grunn av deres ungdom eller rikdom eller kulturell cachet eller besettelse med ting eller hva som helst. Dette er veldig grei bedriftsfinansiering. EventuallyxA0-- etter at du går offentlig og er mer etablert - vil du gjøre oppmerksomheten din om å lure opp ting med adsorbene. Når du gjør det, vil alle dine beregninger - hvor mange folk ser på dine ting, hvor attraktive de er for annonsører, hvor engasjert de er til dine ting - oversette til penger. (Ikke på en direkte mekanisk måte, men de vil underpinxA0the historien du forteller til annonsører, hvem vil gi deg penger.) Jo bedre og mer overbevisende beregningene er, jo mer penger annonsørene vil gi deg (i fremtiden). Jo mer penger annonsørene vil gi deg (i fremtiden), desto høyere nåverdi av de diskonterte kontantstrømmene er nå, for investorer som modellerer hvor mye bedriften er verdt. Likevel føles det litt som en arbitrage, eller en liten hånd. Hvis brukerne dine er så verdifulle, hvorfor ikke barexa0 tjene penger fra dem xA0Den historie du forteller investorer er i kraft quothere er en historie vi vil fortelle annonsører, men ikke yet. quot Det faktum at du forteller det til investorer innebærer at det er isaA0 mer overbevisende for investorer enn det er for annonsører. xA0 Uansett her er Bloomberg Gadfly-kollegaen Shira Ovide på Snap Inc. aposs planlagt opprinnelig offentlig tilbud, og bruks - og engasjementene som det presenterer for bankfolk, som også kan gjøre dobbelt plikt som corporate diversionary magic - se på dette skinnende objektet her - for å oversvømme investorer med håndplukkede beregninger som maler selskapet i det beste lyset og distrahere dem fra sin månedlige bruker count. quot Men hvorfor wouldxA0investors bryr seg omxA0 månedlig brukertelling. Investorer bør bryr seg omxA0 penger. Månedlige brukere og eventuelle andre engasjementstatistikker - hvor mange prosent av brukerne tar bilder ved hjelp av appx2019s kamera, samt hvor mange av disse bildene bruker geofiltere, sånn den slags ting - er merket med andre ordre på veien til penger. xA0 Veien til penger er lang, og Snapchat har nettopp startet. Ovide: Inntektsveksten bør være en bris fordi Snapchat bare begynner å ringe opp annonsesalget. Selskapet lager nå omtrent 1xA0in annonse salg for hver bruker, ifølge en Gadfly beregning basert på estimatene påXA0eMarketer inntekter og Bloomberg Intelligence bruker tallene. Facebook og Twitter er henholdsvis 16 og 8. På en måte, Snapaposs IPO, hvor det vil gå ut og fortelle investorer om howxAvaluable det er at folk bruker sin geofilter eller hva som helst, er god praksis for når den bestemmer seg for å faktisk tjene penger, som det vil gjøre ved å gå ut og fortelle annonsører om hvor verdifullt det er at folk bruker geofiltrene eller hva som helst. Men i en annen forstand føles det rart - ikke i sammenligning med andre sosiale medier eller internettbedrifter, kanskje, men likevel rar - for å starte med investorene. Du kan sortere divisjonene for finansielle tjenester industryaposs aktiviteter i to kategorier, (1) gjøre ting og (2) selge det til deg, og kostnaden ved å gjøre ting fortsetter å gå ned. Hvis du ønsker å kjøpe et børsnotert fond i disse dager, er investeringsbeslutningene i fondaposset sannsynligvis automaert, og handlingene dine er trolig gjort på datamaskinen. Det er bare ikke mye høyverdig arbeid som går inn i å gjøre pengene dine til en effektiv diversifisert investering i aksjemarkedet. På den annen side, hvis du kjøper den ETF fra en finansiell rådgiver fra Morgan Stanley, er det mye dyrt arbeid som går inn i å få pengene dine ut av lommeboken din. Som rådgiver har sannsynligvis et kontor. Den har stoler. Han husker barna dine navn. Han tar deg tid til å snakke med deg om dine økonomiske mål. HexA krever langt mer omsorg og fôring enn listen over aksjer som gjør de faktiske investeringsbeslutningene for ETF. Her er en historie om hvordan Morgan Stanley quothas fortalte noen fondutstedere å betale et gebyr eller risikere å ha fremtidige tilbud blokkert fra sitt salgsnettverk, noe som reflekterer en innsats på Wall Street for å styrke meglerinntektene som investorer flyr dyre aktivt forvaltede midler for billigere passiv Produkter som index funds. quot (Morgan Stanley quotsaid kostnaden dekket en rekke tjenester, inkludert tilgang til firmaets finansielle rådgivere, filialforvaltning og hjemmekontor staff. quot). Selvfølgelig, hvis du er en ETF-leverandør, gjør distribusjonsavgifter deg trist. Hvis du er en ETF-investor med en Morgan Stanley-rådgiver, kan de også gjøre deg trist. Du vil bare ha de beste produktene, hvorfor skulle Morgan Stanley nekte å gi deg disse produktene, bare fordi leverandørene nekter å betale sine avgifter. Men ubehagelig virkelighet er at mye av kostnadene ved finansielle tjenester er kostnadene ved å pitche dem til deg, andxA0 someonexA0 må betale disse kostnadene. (Itaposs deg.) Dette er ikke spesielt gal eller noe når du kjøper melk, er du sannsynligvis på et visst nivå oppmerksom på at en del av prisen går til å betale for kartonger og supermarkedskort og kasserer og så videre. Finansiell tjenesteyting har alltid en måte å få det til å se litt tøft ut, sikkert, men onexA0can sympatiserer. Hvis du kjøper dine ETFer på en lavpris, lavpris, høyteknologisk måte - online robo-rådgivere - så bør du regne med at distribusjonskostnadene er lave. Men hvis du skal til en dyre menneskelig finansiell rådgiver for håndholding og barnepike-navn, husker du, og bare kjøper billige ETFer fra ham, bør du ikke bli overrasket om han vil tjene litt penger. En teori om regulering. Jeg jobber med en foreløpig teori om regulering. Det går slik: Det finnes to typer regelverk: egendefinerte forskrifter og bulkreguleringer. En tilpasset regulering er utformet for å oppnå et bestemt mål. Du vil at folk skal gjøre noe, så du skriver en regel som pålegger at de gjør det og straffer dem hvis de donapost. For eksempel, hvis du vil at amerikanske selskaper skal beholde jobber i USA, kan du skrive en regel til mandatexA0that, og å sette inn en større grenseavgift på selskaper som flytter jobber utenfor USquot. Det er et eksempel på en tilpasset regulering, og det er bra fordi det holder jobber i USA. Bulkreguleringer er den type som du kjøper på gården, de som du måler etter kvantitet i stedet for formål. xA0Den donapost har en hensikt, egentlig de er bare generisk sitert tape. quot Dette er forskriftene som presidenter Ofte annonserer de vil kutte halvparten, eller fryse med en utøvende ordre. Theyaposre thexA0regulations som ikke kommer fra et begrunnet ønske om å oppnå et bestemt mål, men fra en purexA0impuls for å regulere. xA0Bulk regelverket er dårlig fordi de hindrer bedrifter i å gjøre forretninger-y thingsxA0without å gjøre noe godt. xA0 Alle regler er egendefinerte regler. All diskusjon av quotregulationquot handler om bulkreguleringer, som ikke eksisterer. Uansett, i går møtte president Donald Trump forretningsledere og lovte å sitere forutsetninger - les: bulk regulationsxA0-- quotby 75 percent. quot (Hvis du vil sitere noe uhyggelig og spesiell, sier han til dem. Quotyouaposre vil ha dine godkjenninger virkelig fast. quot) Han synes ikke å ha kommet inn i spesifikasjoner på hvilkexA0 regelverk han ville kutte, noe som passer pent med min teori. På den annen side lover han å pålegge nye regler som krever at selskapene skal opprettholde sin virksomhet i USA (når du har et selskap her, har du en plante her) og øker deres skatt hvis de donapost. Bedrifter vil også møte nye restrictionxAi prøver å exportxA0 varer, da Trump planlegger å forlate ulike handelsavtaler. xA0Det er selvfølgelig viktige og byrdefulle nye regler. men de er egendefinerte forskrifter, og så er de ikke avdekket av Trumpaposs lover å kutte masseforskrifter med 75 prosent. Alt er perfekt, men du må ha en teori. XA0 I kanskje relaterte nyheter, annonserte Trump en ansettelsesfrysing for føderale arbeidere xA0 mens han er midt i å ansette tusenvis av mennesker til å betjene sin administrasjon. xA0 Det høres rart, til du innse at Trump er freezingxA0 bulkxA0 ansatt mens continuingxA0 customxA0 ansetter. Skulle fondskassene være ulovlig Den mer stockxA0a-fonden eier, jo mindre oppmerksomhet de betaler, og jo mer skamførere kan komme opp til, sier vitenskapen: Chicago Boothx2019s Elisabeth Kempf, sammen med Bocconi Universityx2019s Alberto Manconi og Tilburg Universityx2019s Oliver G. Spalt, undersøker den økonomiske effekten av et miljø der aksjonærer ikke er i stand til aktivt å overvåke alle de selskapene de investerer i. I samsvar med standardforvaltningsrammen fra økonomisk teori, hvor agenter (ledere) handler på vegne av regjeringer (aksjonærer), forskerne finne at når aksjonærer er x201Ddistracted, har x201D ledere større spillerom for å maksimere private gevinster, til skade for aksjonærverdien. x201CWe utnytter unike egenskaper i amerikanske institusjonelle beholdningsdata for å vise at ledere reagerer på midlertidig løst overvåking, indusert av investorer med begrenset oppmerksomhet med fokus på deres oppmerksomhet andre steder, ved å engasjere seg i investeringer som maksimerer private fordeler på bekostning av aksjonærene, x201D skrive Kempf, Manconi, og Spalt. Våre hovedfunn i forhold til eierstyring og selskapsledelse tyder på at verdipapirfond er mindre involvert enn VC og gir mindre styring generelt. Samtidig vil de sannsynligvis gi mer indirekte insentiver til gründere i enkelte spesifikke dimensjoner gjennom kontraktsbestemmelser som er i samsvar med gjensidig finansieringskilder. Nærmere bestemt finner vi at investeringsrundene i fellesskapet er knyttet til både færre kontantstrømrettigheter og færre kontrollrettingsrettigheter på tvers av mange dimensjoner. For eksempel er verdipapirfond mer sannsynlig å bruke rett konvertibelt foretrukket lager, som er knyttet til svakere indirekte tilskuddsbestemmelser enn deltakende foretrukne aksjer som er populære blant VCs. Fondmidler er betydelig mindre representert i styret, og de er dermed mindre sannsynlig å direkte overvåke porteføljens enhjørninger gjennom styreintervensjon eller avstemning om viktige bedriftsaksjoner. Disse resultatene tyder på at verdipapirfond ikke sannsynligvis vil gi styringsformidling tilsvarende VC. Samtidig finner vi at investeringsrundene i fellesskapet er knyttet til betydelig mer innløsningsrettigheter: det vil si at de konvertible foretrukne aksjene som fondene holder, er mer sannsynlig å kunne innløses. Slike resultater er robuste på tvers av alle våre forskjellige spesifikasjoner. Fonddeltagende runder er også knyttet til færre pay-to-play straff, noe som betyr at de er mindre tilbøyelige til å bli låst til å refinansiere enhjørningsinvesteringer når de underliggende porteføljeselskapene ikke klarer seg godt. Dette stemmer overens med min oppfatning at private markeder er de nye offentlige markedene. Den tradisjonelle splittelsen var at venturekapitalister investerer i private markeder, hvor de ikke er likviditet, og kompenserer for manglende likviditet med mange overvåkings - og kontrollrettigheter. Verdipapirfond investerer i offentlige markeder, der det er likviditet, og krever derfor mye mindre i måten å overvåke og kontrollere. Nå investerer verdipapirfond i private markeder, men bare i de private markedene som ser mest ut som offentlige markeder - kvotemidler ser ut til å være mer interessert enn VCs i å investere i sentrunder og hot sektorkvoter - og de krever relativt mer likviditet og mindre kontroll enn venturekapitalister gjør. Denne Jessica Pressler-historien om Donald Trumpaposs Wall Street-backers er like nydelig som youaposd forventer at den skal være, som er å si veldig herlig, men med et undertrykk av skremmende. Mye fokus ligger på Anthony Scaramucci, markedsfondsmedlemmer som nå har blitt en Trump-offentligperson. Når Pressler sist skrev om Scaramucci, var xA0he en viktig proponentxA0of Secret Trump Theory, ideen om at Trump er langt mer gjennomtenkt og pragmatisk enn hans ord, handlinger og historie ville foreslå. Han er fortsatt - han fortalte det i Davos forrige uke - men hans advokatvirksomhet virker nå mørkere og mer kynisk. (quote2019ll gjør hva du vil ha, QuxA0he fortalte Mike Pence.) xA0James Grant, vennligst kaller det kvote klassisk contrarian betquot: Å være en big-deal person hos en stor Wall Street firma og offentlig justere seg med en kandidat som ringer for byggingen av vegger og avrunding av innvandrere, en beryktet kvinneverger som slår ut skammeforestillinger og en gang joked om å danse sin egen datter, ville ta det som den skarpe Grant kalte x201Ca visse slags moralsk mod. x201D andre steder, xA0here er Andrew Ross Sorkin på Trumpaposs aktivist-investor metode for å håndtere selskaper som president. Og Trump fortsetter å lyve om å vinne den populære stemme. Folk er bekymret for enhjørninger. Ofte denne seksjonen om hvordan folk er bekymret for at verdsettelser av private tech selskaper er for høye, men jeg føler at disse dager er det større bekymringer i Enchanted Forest of the UnicornsxA0One nøkkel bekymring blant enhjørningen eliten ser ut til å være verdens ende, som tilsynelatende vil være spesielt vanskelig på nærsynt vis: Yishan Wong, en tidlig Facebook-ansatt, var administrerende direktør av Reddit fra 2012 til 2014. Han hadde også øyeoperasjon for overlevelse, og eliminert hans avhengighet, som han sa det. x201Kon en uholdbar ekstern hjelp for perfekt syn. x201D I en e-post, fortalte Wong meg, x201Cost folk bare anta usannsynlige hendelser donx2019t skje, men tekniske folk har en tendens til å se risikoen veldig matematisk. x201D Han fortsatte, x201CTechnology preppers tror ikke nødvendigvis at et sammenbrudd er sannsynlig. De anser det som en ekstern hendelse, men en med en svært alvorlig ulempe, så, gitt hvor mye penger de har, tilbringer en brøkdel av deres nettoverdi for å hekke mot thisxA0.xA0.xA0. er en logisk ting å gjøre. x201D Jeg elsker atxa0sort av falsk appell til matte, som Wong har beregnet den nøyaktige sannsynligheten for et sosialt og økonomisk sammenbrudd, og det forventede tapet betinget av det kollaps, og bestemte seg for at det justifiedxA0getting laser eye surgery. Du ville ikke forstå det med mindre du har tatt klasser i differensialligninger og operativsystemdesign. Uansett er det noen motstandere av den tekniske prepperismen: Max Levchin, grunnlegger av PayPal og Affirm, en utlånsoppstart, fortalte meg at x201CItx2019s er en av de få tingene om Silicon Valley som jeg aktivt dislikker, fordi vi er overlegen giganter som flytter nål og selv om itx2019s vår egen fiasko må spares. x201D Til Levchin er prepping for survival en moralsk feilberegning han foretrekker å x201Cshut down party conversationsx201D på emnet. x201CI spør ofte folk, x2018Så du er bekymret for pitchforks. Hvor mye penger har du donert til din lokale hjemløse shelterx2019x201D Snakk om whichxA0Here er en historie om hvordan mange Uber-bilister sover i sine biler: Howard har parkert og sovet på 7-Eleven fire til fem netter i uken siden mars 2015, da han begynte å leie en bil fra Uber og måtte jobbe flere timer for å gjøre hans minimumsbetalinger. Nå som det var blitt kaldt, våkner han hver tredje time for å slå på varmeren. Hex2019 er sjelden alene. De fleste netter, to til tre andre åkerhuggere, sover i biler parkert ved siden av hans. Itx2019 er trygt, sa han, og ansatte la sjåførene bruke toalettet. Høyesterettsregler Brexit Trigger trenger parlamentsstemme. Aetnax2019s 37 milliarder Humana Takeover blokkert av dommer. Banker står for å miste avgifter dersom Aetna-Humana Deal kollapser. cif Hedgefondbransjen endte 2016 med 3,02 billioner i globale eiendeler under ledelse, og overgikk 3 trillionskursen for første gang som resultatutviklingen oppveie nettouttak. Quot Etter Bond Chiefx2019s Avgang. Millenniumx2019s Englander igjen alene igjen. Yahoo ser Verizon-avtalen lengre enn forventet. Fed Debat Over 4.5 Trillion Balance Looms i 2017. Money-Fund Overhaul Gir Federal Home Loan Banks New Prominence. Retirement Giant TIAA Rebrands Asset Management som det søker nye investorer. En profil av John og Laura Arnold. Markedsstrukturregler og fotnoter. Vedtektene for begrensninger og disgorgement. På Wells Fargo ble bankgrener tippet til inspeksjoner. Franske anklagere ser på 22 mål i Panama Leaks Probe. Tidligere MSD Capital Analyst arrestert etter hoppeforsøk. Når gjør Corporate Criminal Liability for Insider Trading Gjør Sense Quote The Trump administrasjon stoler hverken sine egne ansatt eller sine egne støttespillere, og skaper en situasjon der den manglende tillit er gjensidig. quot Den beste jobben er datavitenskapsmann. Thereaposll være en Playboy Club i Midtown Manhattan. MontrxE9al Bitcoin ATM stjålet i sen-natt-røveri. Famed slange sporere fra India nyeste våpen i Florida krigen på pythons. Trikk tyv. Hesteblader. xA0 Hvis du liker å få getxA0MoneyxA0StuffxA0in hendig e-postskjema, rett i innboksen din, vennligst send inn en abonnement på denne linken. Takk xA0 Denne kolonnen gjenspeiler ikke nødvendigvis uttalelsen fra redaksjonen eller Bloomberg LP og dens eiere. For å kontakte forfatteren av denne historien: Matt Levine på mlevine51bloomberg For å kontakte redaktøren som er ansvarlig for denne historien: James Greiff på jgreiffbloomberg Matt Levine er en Bloomberg View-kolonne. Han var redaktør for Dealbreaker, en investeringsbankør ved Goldman Sachs, en fusjons - og oppkjøpsadvokat ved Wachtell, Lipton, Rosen amp Katz og en kontorist for US Court of Appeal for Third Circuit. Les mer Mest populær Se bidragsytere Dagens historie: Pub - og restaurantbosser markerer bedriftsøkonomisk økning urettferdighet Totalt 28 ledende ansatte i pub - og restaurantfirmaer har inngått et felles brev til Daily Telegraph som kritiserer de enorme økningene i forretningssatsen som står overfor sektoren. En kampanje som fremhever rettenes urettferdighet, blir spydt av ALMR, hvis konsernsjef Kate Nicholls har opptrådt to ganger på Radio Fours Today-programmet i den siste uken som snakket om problemet. Signaturer av brevet inkluderer sjefene til YO Sushi, Azzurri Group, Carluccios, Mitchells Amp Butlers, Wagamama, Stonegate Pub Company og Casual Dining Group. Brevet sier: Pubber og restauranter er det opprinnelige sosiale nettverket, men vårt er den eneste næringslivet som står overfor massive bedriftsøkninger i alle britiske regioner. Vi vet at regjeringen vil tjene 1 milliard mer fra bedriftsrenter etter april, med halvparten av dette kommer fra å spise og drikke bedrifter, og at det vil subsidiere skattedrag for nettbaserte bedrifter. Regjeringens siste industrielle strategi tar sikte på å hjelpe bedrifter til å starte og blomstre over hele landet, og balansere veksten over hele regionen, men økningen i pub - og restaurantvirksomhetsrater undergraver denne strategien før den er til og med implementert. Vår sektor er virkelig regional, og er spesielt godt posisjonert for å gi nasjonal vekst, skape arbeidsplasser og øke regenerering rundt om i Storbritannia. Å spise og drikke ut er verdt 60 milliarder kroner, med direkte ansatt 1,5 millioner mennesker, og 80 av sektoren består av små og mellomstore bedrifter. Vi bidrar allerede over 18 milliarder kroner i skatt og har en uforholdsmessig bedriftsbelastning. De foreslåtte endringene vil øke denne ulikheten med 500 millioner, slå jobber og stoppe investeringer. Jobbutvikling gjennom strategisk vekst er katalysatoren for en økonomi som fungerer for alle. Hvis regjeringen ønsker å nå dette målet, må den støtte vår industri, i stedet for å straffe suksess. Umiddelbar prisavlastning for puber og restauranter som ligner de 60 millioner som nylig ble gitt til bredbåndsleverandører, ville levere konkret hjelp på denne kritiske tiden og sende en positiv melding til industrien. Skattesatsene for skotske statspapirer stiger for gjestfrihetssektoren Rundt 8.500 puber, restauranter og hotell i Skottland vil ha en økning i forretningsrenten på 12,5 etter protester mot den skotske regjeringen, har finanssekretæren kunngjort. Derek Mackay gjorde kunngjøringen på Holyrood etter et vedvarende press fra bedriftsgrupper over foreslåtte renteøkninger. Tre av ti virksomheter i Skottland står overfor en økning i sine priser etter den første revalueringen siden 2010. En oppskrivning skulle finne sted i 2012, men den ble utsatt av den skotske regjeringen. Noen av firmaene sto overfor økninger på mer enn 100. Mackay sa: Dette er den første oppskrivningen av forretningspriser siden 2010 og tar hensyn til endringene i eiendomsverdiene under økonomisk oppgang. Det utføres av uavhengige bedømmer utnevnt av kommunen. Selv om rådene beholder alle inntekter fra bedriftsrenter og har mulighet til å tilby prisreduksjoner, har det blitt klart at det er noen sektorer og regioner hvor økningen i verdsettbare verdier er ute av kilter med det bredere bildet av omskrivningen. Jeg har lyttet og besluttet at vi skal handle nasjonalt for å takle effekten. Gjestfrihetsvirksomheter, som hoteller og puber, over hele Skottland, vil se økningene på maksimalt 12,5, og anerkjenne de bekymringene som har blitt reist med meg over omfanget av økene og verdsettelsesmetoden som skiller dem fra andre sektorer. I tillegg vil kontorer i Aberdeen og Aberdeenshire se en økning på 12,5 i anerkjennelse av effekten av nedgangen i oljeprisen på lokaløkonomien. Andre nyheter: Matvareinflationen rammet 2,9 i januar Lav forsyning og økende kostnader for nøkkelelementer, inkludert grønnsaker, sukker, oljer og fett og varme drikker, har ført til en økning i matvareprisene på 2,9 i januar 2017 sammenlignet med begynnelsen av 2016. Det er overskrift funnet fra siste utgave av Foodservice Price Index fra Prestige Purchasing og CGA Strategy. Det fortsetter en oppadgående trend i grossistpriser for matvareprodukter, og utvider gapet mellom inflasjon i sektoren og inflasjon på forbruker siden målt av forbrukerprisindeksen. Stigende oljekostnader og svak pund har lagt til prispresset gjennom hele forsyningskjeden i det siste året. Foodservice prisvekst ble drevet i januar av en dramatisk økning i prisen på grønnsaker, som var oppe med 10,4 sammenlignet med januar 2016. Økningen er en følge av dårlige værforhold i hele Europa som har kuttet inn forsyninger av mange vanlige varer, inkludert salatblader og courgetter. Det har ført til utbredt mediedekning av en krise i forsyningen av mange grønnsaker, noe som førte til at supermarkeder skulle ransle eller trekke ut varer der aksjene er begrenset. Inflasjon er også tydelig i oljer og fett, hvor prisene er 9,5 høyere enn for et år siden, delvis på grunn av lav palmeoljeforsyning. Prisene på sukker og relaterte produkter øker med 4,9 år i år takket være lavere eksport fra nøkkelmarkeder og minimumspriskontrakter innført i markedet av bedrifter over sukkerindustrien. Kaffeprisene har hoppet med samme margin som etterspørselen fortsetter å overstige tilbudet rundt om i verden, mens tepriser har blitt rammet av tørke i Kenya. Men Foodservice Price Index viser også noen grunner til optimisme om prising i sektoren som 2017 bærer på. Innenlandsk produksjon vil begynne å sparke i snart, og bør redusere avhengigheten av dyrere import, og det er bevis for at smørprisene har begynt å falle de siste ukene. Det er også lettelse i melk, ost og egg kategori, hvor prisene var 1,3 lavere i januar enn et år tidligere, selv om redusert innenlandsk produksjon og økende farm gate priser på melk snart kunne stoppe denne nedadgående trenden. Christopher Clare, head of consulting and insight at Prestige Purchasing, said: What we are seeing in this months Foodservice Price Index figures is the pass-through of sharp increases in the commodity prices of many imported salad products and vegetables. Whether it reflects the full extent of the increases remains to be seen, and next months figures will be key. Phil Tate, chief executive of CGA Strategy, said: The latest edition of our Foodservice Price Index shows that pressure on pricing continues to mount. The broad range of categories facing inflation is a cause for concern, and it makes the need for resourceful purchasing strategies and careful price monitoring all the more apparent. The Foodservice Price Index is jointly produced by Prestige Purchasing and CGA Strategy, using data drawn from over 50 of the foodservice market and around 7.8m transactions per month. More information on specific categories is available on a subscription basis. Hotel Chocolat reports progress as it grows cafe estate Hotel Chocolat has reported it now has ten shops plus cafe sites, giving it the opportunity to flex its customer offer for each catchment. Sales grew 14 to 62.5m in the 26 weeks ended 25 December 2016. Profit before tax was up 28 to 11.2m and underlying Ebitda was up 27 to 13.7m. Angus Thirlwell, co-founder and chief executive of Hotel Chocolat, said: This has been another period of good progress for Hotel Chocolat with strong growth in both sales and profitability. The critical Christmas period was very successful, helped by good availability, popular and innovative new ranges and significantly increased digital transactions. We have strong plans in place for the key spring seasons of Mothers Day and Easter and are confident of further progress. I am pleased to report continued progress for the Hotel Chocolat brand during the 26 weeks to 25 December 2016. Revenue in the period grew by 14 (12 on a proforma basis) and profit before tax for the period increased by 28. Hotel Chocolat delivered growth across all channels, benefitting from improved seasonal ranges including new gift hampers, which encouraged customers to trade up to higher price points. The business remains focused on the three key pillars of its growth strategy: We opened ten new stores in the period and completed one relocation. Of the new stores, seven included variations of our Hot Chocolat-led cafe offer. The modular design of the cafe allows us to tailor the offer to the site and the catchment for example our new store at Euston station includes a takeaway-only cafe, whereas our new store in Worcester includes 50 seats and a separate space for tasting experiences. The group also signed a further lease on a 1,500 sq ft unit in a prime location on Buchanan Street in Glasgow, which will open later in 2017.Significant capital investments at our factory were completed in September, on time and on budget, this increased manufacturing capacity by 20. This increase enabled the group to produce more stock and thus maintain strong availability right up to the end of the Christmas season. Improved efficiency supported a gross margin increase of 0.6 percentage points. Digital revenues, comprising website plus subscription club, grew 11 overall. The website delivered a 23 year-on-year growth driven by a strong increase in customer numbers and increased average transaction value. A new website launched in January 2017 and initial indications are encouraging with mobile conversion increasing significantly, the new site is faster and dwell time has also increased. Subscription club sales declined 6, while operating profit increased. New customer recruitment activities into the club have been scaled back whilst the model is being improved and reformed around the new website, which launched in January 2017. The next phase of the Tasting Club evolution will improve the online customer experience and integrate product despatch into the central distribution centre, rather than outsource. A new subscription clubs team is now in place to add focus and drive behind this important channel, with good growth opportunities ahead. This is the first reporting period for which Hotel Chocolat Estates Limited, Saint Lucia (HCESL) was part of the group for the full period. Development of a new visitor attraction is progressing well and expected to open in 2018. The group has a Cocoa Spa in Saint Lucia and also sells a range of Cocoa Beauty products. Currently these products represent less than 1 of total sales. The group has entered into a joint venture with its chairman Andrew Gerrie to further develop and grow this category. The group owns 30 of the venture Rabot 1745 Limited and Andrew Gerrie holds 49, with the balance held by other parties. It is envisaged that the venture will operate as a low cost start-up, with the goal of developing an enhanced beauty product range with a view to growth in the medium to long term. Since the end of the period, trading has continued in line with expectations. The plans for the key Mothers Day and Easter seasons build upon the successes of Christmas, including improved gifts and childrens ranges. The pipeline for new stores is encouraging with the new formats providing increased flexibility to adapt to different locations. We are in the process of finalising our next set of capacity and capability investments for our production facility in order to ensure we can both meet our growth aspirations and improve efficiency in the years ahead. The transition to the new website happened on time and now provides us with exciting growth potential. The headwinds facing all retailers in the UK are widely projected to drive input cost inflation, however the group seeks to mitigate these headwinds through a combination of vertical integration, UK-based manufacturing, and currency hedging. A strong differentiated brand that offers great products and customer service, priced as an affordable luxury also provides further mitigation, giving the board confidence in the groups continued progress. Entries for beer and cider awards leap 25 Entries to the International Brewing amp Cider Awards 2017 have leapt by 15 on the previous competition, held in 2015. This years total is comfortably past the 1,100 mark, with ciders up by 30 on 2015, beers up by 12, and entries received from 50 countries. Brewers and cider makers are now sending their products draught and smallpack to Burton-on-Trent, where judging takes place on 7-9 March. Medal winners are announced on 10 March, and the Championship winners in ten categories are announced at a presentation luncheon in April. Ruth Evans, director of competition organisers Brewing Technology Services (BTS), said: Its good to see entries to our Awards take this impressive upwards step, in terms of total number, geographical reach and appeal across all sectors, from regional microbrewers and artisan cider-makers right up to multi-nationals. We also received entries from many producers and brand owners who havent taken part in the competition before, which reflects the excellent reputation that the Awards have built among the global brewing and cider making communities. Were especially pleased with the increase in cider entries. We reintroduced cider to the Awards in 2013, after an absence of some decades, and cider makers have been keen to take part. Ours is now, we believe, the most international of all the cider competitions held around the world. The three new classes we introduced to the beer competition elicited a lot of interest, endorsing our belief that there was a need to showcase these new, emerging styles. The new beer classes were: sour beer, zero gluten beer and extra strong beer (ABV of 10 and above), while the cider competition includes two new classes of flavoured ciderperry or pear cider: one for fruit flavoured cider and one for ciders flavoured with other ingredients. In addition, a new speciality ciders class accommodates ciders made using innovative or atypical process, such as ice cider, barrel-aged cider or apple win. The new classes were added to ensure the Awards are always up to date, reflecting current market trends and product innovation as well as brewing and cider making traditions. Judging for the 2017 Awards takes place from 7-9 March in Burton-on-Trent. The competition is unique in requiring that only working brewers and cider makers may join the judging panel. This criteria and the depth of experience of the panel, combined with a double blind system for judging and the consensus approach to assessing the entries, has given the competition a reputation for a robust and fair judging process. The overall championship winners in 10 categories are unveiled at a presentation ceremony held at Londons Guildhall on 26 April which is attended by medal winners and others from the global brewing and cider industries. BII boss government needs to rethink business rates valuation system to give high streets chance of survival, Wetherspoon pub faces 321 rise British Institute of Innkeeping chief executive Mike Clist has said the government needs to rethink the business rates valuation system to give high streets a chance of survival. Clist highlighted his home town of Aldershot in Hampshire as just one example where business rates were crippling licensed premises. He cited the example of JD Wetherspoon, which recently opened a pub in the town centre but is set to see its business rates jump 321 under the new valuation from 30,000 to 126,500. The Restaurant Group has also opened a Frankie amp Bennys in the towns new Westgate Centre and faces an 18 rise in rates from 76,000 to 89,500. Meanwhile, online businesses such as Amazon are set to see their rates fall. Clist said: Pubs pay nearly 500m more than they would if they were rated on a level commensurate with Amazon. You will hear ministers say 75 of business rates will not change but many are already higher than they should be, with the remaining 25 financing the 1bn in extra rates expected from this 2017 revaluation especially in cities and the south. The rating system of this country is close to being broken. As local shopping centres across the country continue to fail, the government needs to realise you cannot make up for those losses by constantly upping the amount remaining businesses pay. It is time to look at ratings again and adjust them so the online retailers, which turn over millions of pounds, pay the rates they should and local businesses are given a chance to survive. The momentum for change is growing newspapers, MPs and ministers are speaking out on this issue. Please join the campaign now by writing to your MP today and become someone like me, just a local lad who wants to save his town, his shops and, most of all, his pubs. London Evening Standard launches Britains biggest food festival The London Evening Standard will launch Britains biggest food festival this summer to celebrate Londons status as the worlds leading culinary destination. London Evening Standard Food Month will see hundreds of events take place in June across the capital, reflecting the scores of gastronomic traditions from around the world represented on the streets of London. The events centrepiece will be the Night Market, an outdoor dining experience in a London park inspired by the street food scene. It will run for 12 evenings from 7 June and feature up to 50 restaurants, food trucks and bars, as well as live entertainment. Full details, including the venue and ticket sales, will be announced in April. London Food Month will also promote awareness of food waste and hunger in tandem with charity partner The Felix Project. The programme is being drawn up by the festivals creative directors food writers Grace Dent and Tom Parker Bowles. Jason Atherton, the Michelin-starred owner of restaurants such as Pollen Street Social, said: I regularly cook in five different continents but London is definitely leading the way. We are so lucky to have easy access to incredible ingredients from Scotland, Wales, Cornwall and the south of England, as well as our neighbours in Europe. We have the best larder anywhere and it puts us ahead of the game. Londons food scene has boomed over the past 25 years, going from a gastronomic wasteland to the world leader it is now. Four-fifths of loyal customers very or extremely likely to revisit foodservice brands Four-fifths of consumers who consider themselves loyal are very or extremely likely to revisit a foodservice brand, according to new research. The Big Data What is It report from hospitality management solutions company Zonal Retail Data Systems and CGA Peach looked at consumers behaviours, preferences and how they engage with brands when eating and drinking out. The report also revealed customers who feel valued are three times more likely to return to a foodservice brand time and again. But trust is still an issue for operators, with almost a quarter of 18 to 34-year-olds surveyed citing lack of trust as the biggest barrier to engaging with a brand. Gaining their trust is therefore essential as 72 are ready to engage with and share their data in return for instant offers. Meanwhile, 69 of guests cite speed of service as the biggest frustration when eating out. CGA retail business unit director Jamie Campbell said: Loyalty is always a hot topic within the eating and drinking out market, but current market conditions and the fight for share of spend mean its more important than ever. From a consumer perspective, loyalty is often perceived as an emotional factor but the reality for operators is we want them to keep coming back, which is something far more behaviourally driven. Meanwhile, operators have been reminded of the importance of using the data they capture effectively. Zonal chief executive Stuart McLean said: To analyse customer basket data from every aspect of their journey from booking online to ordering, payment and feedback technology integration is essential. With ever-increasing volumes and sources of data, successful companies will be those that harvest the data to gain the insight they need to make better decisions on their business strategies. Investing in technology in isolation is not sustainable its operators with a clear strategy that will reap the benefits. Taking an integrated approach is key and that is something that we understand at Zonal. SIBA appoints Brecon Brewing owner Buster Grant as chairman The Society of Independent Brewers (SIBA) has appointed Buster Grant, owner and head brewer of Brecon Brewing in Wales, as its new chairman. Grant will take the chair for the first time at SIBAs annual general meeting on Thursday, 16 March during its BeerX event in Sheffield. The new chairman will work closely with SIBA managing director Mike Benner and Justin Hawke, of Moor Beer Co, who has been elected SIBAs new vice-chairman. Current chairman, Exe Valley Brewerys Guy Sheppard, is stepping down at the end of his maximum three-year term. Grant has more than 16 years experience in the brewing industry and has been heavily involved in SIBA since his first election to the board in 2008 and again in 2012. He joined SIBAs executive board last year. American-born Hawke trained as a brewer in San Francisco before taking over the then-defunct Moor Beer Co in Bristol in 2007. Benner said: Buster brings with him a wealth of experience and has for many years been a strong voice on behalf of SIBAs brewing members. Together we will present SIBAs 2020 Vision at the AGM in Sheffield, setting out how we will help members thrive in a challenging marketplace with a positive and hard-hitting response. Grant added: The reputed curse of may you live in interesting times has never seemed truer, with a number of threats and opportunities facing our industry. However, I see mostly opportunities and Im delighted to be working with Mike and the team towards a goal of a more professional industry, with a real focus on quality products, sustainable business and fair access to market for all our members, whatever their size. Joe Allen to host AIR breakfast briefing The Alliance of Independent Restaurants (AIR) will hold a breakfast briefing on Wednesday, 1 March at renowned Covent Garden restaurant Joe Allen (pictured) to outline its future plans. AIR has been set up to provide a forum and support network for owners and operators of independent restaurants. The breakfast meeting will include announcements on AIRs growth plans for 2017 and beyond as well as a panel discussion on what it means to be an independent restaurant or hospitality business and issues threatening the sector. AIRs programme of events will also be announced at the event, including dates for networking meetings, workshops and supper clubs. The panel will be chaired by Joe Allen co-owner Tim Healy. He said: I think AIR is exactly what independent restaurants need. This breakfast is an opportunity for us all to share our expertise to build a better independent restaurant sector especially with the unique challenges the restaurant sector faces in the year ahead. The breakfast briefing will begin at 9am. London-based frozen yogurt company Sloane Bros extends 150,000 crowdfunding campaign London-based frozen yogurt company Sloane Bros has extended its 150,000 fund-raise on crowdfunding platform Crowdcube due to ongoing conversations with investors. The company, founded by Joe Chakra, is offering a 7.5 equity stake in return for the investment as it looks to open outlets in shopping centres across the UK as well as overseas franchises. So far, it has raised 77,030 from 130 investors. The largest investment to date is 20,000. The company said: Due to ongoing discussions with investors, the Sloane Bros campaign has been extended for two weeks and will now expire at midnight on 8 March. Sloane Bros opened its first shop in Brick Lane, east London, in June 2015, followed by its second in Nottingham in August 2016 at the Intu Victoria shopping centre. The pitch states: The funds from this round will be used to secure new UK locations and to launch the business-to-business packaged products business, as well as set up the franchising infrastructure. We believe the company would represent an excellent acquisition opportunity by adding a product line extension to several strategic acquirers, which would be more likely to provide better returns to the companys shareholders than a listing or private equity sale. However the company would, of course, entertain all approaches. Earlier this year, Chakra told Propel the company was looking to build a 16-strong UK estate in the next five years. Hawksmoor opens seventh London site, in Borough High-end steak brand Hawksmoor has opened its seventh London site and eighth overall, in Borough. The 144-cover venue in Winchester Walk (pictured) is in a Victorian former hops warehouse and features original timber beams and brickwork. The downstairs, 14-cover Cooks Room features its own kitchen, where Hawksmoors chefs test new dishes during the day while at night it turns into a private dining space offering a special menu featuring Borough Market produce. The main restaurant also features a weekly market specials menu, using ingredients from Borough Market. The location is particularly close to the hearts of Hawksmoor co-founders Will Beckett and Huw Gott as they built the brand on having close relationships with their suppliers. Many are located in Borough or nearby Bermondsey, including The Ginger Pig butcher. Gott told Hot Dinners: We have always dreamed of opening a restaurant in the area. Theres something really special about being on our suppliers doorsteps and, as Borough was such an influence on us in the early days, it feels like ten years later we are coming home. The other Hawksmoor sites are in Air Street, Guildhall, Knightsbridge, Seven Dials and two in Shoreditch, plus a regional site in Manchester. JD Wetherspoon to invest 2.35m in expanding Norwich pub JD Wetherspoon is to invest 2.35m in the Bell Hotel in Norwich. The venue will close for a 16-week refurbishment on Sunday (26 February), with the site being extended above the Santander bank next door. While the work is ongoing, Wetherspoon staff will work at the companys other branches in the city. The refurbishment will result in an additional 1,500 square feet of space. The garden is also being extended and a new kitchen, toilets and bar will be installed. Wetherspoon spokesman Eddie Gershon said: The Bell Hotel was our first pub to open in Norwich and continues to be extremely popular. We are committed to giving our customers the best pub possible and, as a result, we are carrying out the extension and refurbishment. We apologise to our customers that the pub will be shut for a number of weeks. However, we are confident they will welcome the new-look pub. Coaching Inn Group to start 1m transformation of Yorkshire hotel into Eatery and Coffee House concept Independent coaching inns operator Coaching Inn Group is set to start the 1m transformation of The Golden Fleece hotel in Thirsk, North Yorkshire. The property, which is one of the oldest coaching inns in England and dates to Tudor times, will close for 11 weeks from Monday, 6 March. The development programme will convert the venue into Coaching Inn Groups Eatery and Coffee House concept, with works including the refurbishment of the hotels restaurant, bar and accommodation. The Golden Fleece was acquired by Coaching Inn Group in a 5m double acquisition from Homfray Hotels in 2015, which also included The Feathers in Helmsley. Golden Fleece hotel manager Neil Doogan told BDaily: As a much-loved, iconic local landmark, we wanted to maximise our prime location to ensure we are known as the go-to place in Thirsk for family friendly, relaxed all-day dining. The next 11 weeks will see major work conducted on the property to breathe a new lease of life into the historic coaching inn, while maintaining its Tudor architecture. The plans look fantastic and were excited to be introducing our Eatery and Coffee House concept, which will see the addition of locally sourced produce, contemporary twists on traditional favourites, plus our popular sharing menu. Coaching Inn Group will launch a recruitment drive in April to appoint additional staff for the hotel. Punch launches digital ordering platform that combines Buying Club with call centre Punch publicans can stock up using a new e-commerce platform that has given the pubco a single view of customers across its sales channels. The Punch Buying Club website and call centre have been replaced by a single digital platform for staff to buy supplies. Commerce consultancy Salmon has effectively given Punch one website with two front ends one for clients and one for call centre representatives. Customers can log on to the new system from any device, while integration of the DataCash gateway has enabled secure multichannel payment processing. Customers have a personalised view of their account, outlet and deliveries and can book depot collections. Punch head of infrastructure and service delivery David Moulton-Bark told Internet Retailing: Our aim was to enhance the multichannel experience for our publicans across devices and implement a more manageable system across the business. With our new bespoke Order Management System, which is co-ordinating our customers experience across sales and fulfilment channels, we are managing our omnichannel operations far more effectively. Salmons best-in-class service will be a game changer. Northcote Leisure Group launches apprentice restaurant series Northcote Leisure Group is launching an apprentice restaurant series at its Cafe Northcote site in Blackburn. The companys up-and-coming talent will showcase their skills during six pop-up evenings spread over three months. From the chefs to the front-of-house team, the project is entirely apprentice-led, offering the insight and experience of running a kitchen and restaurant by organising, managing and delivering the series of events themselves. Co-owner Nigel Haworth said: Its a fantastic opportunity for the apprentices to show their enterprise and talents. They are controlling everything and will focus on the complexities of making the food, service and ambience special. The cooking, marketing and service is all down to them and Im sure theyre going to put everything into the nights to make them a great experience for the diners and themselves. Each evening will consist of a bespoke five-course menu plus coffee with the option of a matched beer or gin flight created by Northcote sommelier Alexandros Kitsos. Proceeds from each event will go towards the BKs Heroes, Blackburn Nightsafe and Blackburn Youth Zone charities. The first two evenings will take place next month, with the other weekend events in April and May. Patisserie Valerie to open Lichfield site Patisserie Valerie, the company that has sector investor Luke Johnson as executive chairman, is to open a site in Lichfield, Staffordshire. The company has secured a site at the new Friarsgate development in the town. It will join Bistrot Pierre, the restaurant group backed by private equity firm Livingbridge, PizzaExpress, Azzurri group-owned Zizzi and Birmingham-based Handmade Burger Company, which have all previously agreed sites at the development. In total, Friarsgate is expected to bring between eight and ten restaurants, 20 shops, 82 apartments and 11 townhouses to the city centre. Richard Upton, deputy chief executive of developer UI, told the Lichfield Mercury: It is an exciting time for Lichfield and I am confident our investment will generate jobs and growth for the area, which has always been a key objective for the Friarsgate development. Patisserie Valerie, launched in 1926 in Soho by Belgian-born Madame Valerie, has more than 115 sites across the UK. Innis amp Gunn signs China distribution deal Scottish brewer and retailer Innis amp Gunn has signed a deal to distribute its beer to the on and off-trade in mainland China, Hong Kong, Macau and Taiwan. The distribution deal with Dxcel International will focus on Innis amp Gunns flagship ale Original and Ossian, a golden ale by Inveralmond Brewery, which was bought by Innis amp Gunn in April last year. The China deal will see Dxcel International utilise its vast network of premium bars and restaurants and premium off-trade, including hotel chains and supermarket groups. Dxcel International also operates an estate of Tap House pubs and Deans Bottle Shops in major Chinese cities such as Shanghai and Shenzhen. Innis amp Gunn will enlist Shanghai-based Scotsman Alan Hepburn to work alongside Dxcel International in supporting its sales and marketing plans. Innis amp Gunn founder and master brewer Dougal Gunn Sharp said: Exports have always been very important to us since we started 13 years ago. Weve seen our products do exceedingly well in Canada, the US and Sweden and we thought it was about time we headed into the largest beer market in the world. China excites us not only because of its size, but also its growing passion and thirst for great craft beer. In Dxcel International, we have found partners with not only the network to distribute beer, but tremendous insight on consumer tastes and a joint passion on educating and informing consumers about the breadth of what great beer is and can be. The deal follows Innis amp Gunns campaign on crowdfunding platform Crowdcube, which raised 2.5m to fund the roll-out of its Beer Kitchen brand and double its turnover to 25m during the next three years. East Sussex-based Harveys launches canned beer range to open up whole new market: East Sussex-based brewer and retailer Harveys has launched a canned range of beers as it looks to open up a whole new market. The company, based in Lewes, started using cans after being asked to supply beer for the British Airways i360, a 450-foot viewing pod in Brighton. Harveys spokesman Bob Trimm said: With our new branding on the cans it created a whole new market for us, with a younger demographic clearly attracted to our beer some of whom told us they would never have tried it if theyd only come across it in cask. We believe cans give us the opportunity to engage with a demographic and a route to market that would not have considered us as solely a cask ale producer. Weve had interest from companies that supply cruise ships and airlines and were also talking to restaurants and hotels. These are all conversations we couldnt have had with cask ale. Laine Pub Company reports turnover and Ebitda growth Multiple pub operator and brewer The Laine Pub Company has reported turnover up more than 10 and operating Ebitda up more than 23 for the financial year to 30 June 2016. The group, which operates 48 pubs in the London and Brighton areas and which brews from four on-site microbreweries plus a full production brewery in central Sussex, saw Ebitda rise to 3.9m on turnover of 30.4m, up from Ebitda of 3.1m on sales of 27.5m the previous year. The company stated that performance was particularly pleasing in the London estate where sales were up nearly 45. It said that like-for-like Ebitda in London had also grown significantly showing the strength and quality of sites acquired in prior years, particularly the Four Thieves in Battersea and the Peoples Park Tavern in Hackney which are both showing very strong growth. Performance was positive in the Brighton pub estate with sales and Ebitda up nearly 5 and 7 respectively. The company reported that this would have been even greater but for the major roadworks on Brighton seafront that impacted high season trading at two of its busiest sites, Tempest and the Fortune of War. Commenting on the 2016 results, chairman Gary Pettet said: We are very pleased with the performance of the business in 2016 and are excited about the pipeline of London acquisitions we are considering for 2017. We have had a strong start to FY17 and believe we will further enhance this growth through acquisitions in the second half of the year. Laines first-half performance in FY17 has shown a higher growth rate than the same period in the previous year, with sales up 15 for the six months to 31 December 16. Commenting on the performance, chief executive Gavin George (pictured) said: A good summer and an excellent Christmas have helped us exceed expectations in the first half of our financial year. Rail journeys into and out of Brighton became more challenging over the period but Laines like-for-like sales for the half year remained nearly 10 up. The same six-month period also saw the opening of the Ladywell Tavern in Lewisham (Laines first managed expert site with Enterprise Inns), the acquisition of the Honor Oak pub in Forest Hill, south east London, and the launch of a new craft beer portfolio under the Laine Brew Co business. The core range, which includes Source Pale Ale and Ripper IPA, are the first beers to be brewed at Laine Brew Cos new 65 hectolitre facility in Adversane, Sussex. Deltic Group appoints new finance director The Deltic Group, the UKs largest operator of premium late-night bars and clubs, has appointed Alex Millington as group finance director. Millington has been with Deltic since 2013 he joined the group as the head of finance and was responsible for the management of the 18-strong finance department. In his new role, his remit is extended to include the oversight of the property, procurement, payroll and IT functions as well as greater involvement in the implementation and design of group strategy. He has over 15 years experience, with a number of senior roles including financial controller at European speciality packaging and envelope manufacturer Bong UK and financial analyst for Rapak, a subsidiary of DS Smith, the international packaging group. Peter Marks, chief executive of The Deltic Group, said: After a long and careful selection process, we are delighted to announce the appointment of Alex as group finance director. He has a fantastic range of skills and experience. We are confident that he will continue to make a valuable contribution to Deltic and I look forward to working with him. Millington added: I look forward to working with the executive team and the board as we continue to drive the business forward. DampD London strengthens management team with three new directors Restaurant group DampD London has strengthened its management team ahead of its planned expansion with the appointment of three new directors. Sarah Jackson has joined as people director to lead DampDs global HR strategy. She was previously at the Maybourne Hotel Group, where she was group HR director. Prior to that role, Jackson held HR director positions in the luxury retail sector for various brands, including de Beers (part of LVMH) and Links of London. Michael Farquhar has joined as operations director, a new role within DampD with the responsibility of managing all UK operations. He was previously global operations director at C La Vi Group in Singapore, where he led the operations team. Farquhar has also had extensive food and beverage experience in the hotel sector including spells at Four Seasons and Intercontinental. Meanwhile, Paul OShaughnessy has been appointed purchasing director. He has joined from Harrods where, as purchasing director, he led the buying strategy for its restaurants and retail business. Previously OShaughnessy held a number of senior purchasing roles within various major retail and restaurant groups, including Safeway, Whitbread and BHS. All three directors will report into chief operating officer Toby Harris. Chairman and chief executive Des Gunewardena said: These appointments have been made to further strengthen DampDs management team ahead of some significant expansion planned for 2017 and beyond. With five new restaurant launches confirmed for 2017 and a number of others in the pipeline, we are very positive about the prospects for DampDs business in the UK and overseas. Be At One on the market with 60m price tag Cocktail bar business Be At One, set up by three former TGI Fridays bartenders and 32 owned by Piper Private Equity, has been put up for sale for up to 60 million, The Times has reported. The company, which runs sites that offer a choice of 190 cocktails and no food, is reported to have hired AlixPartners to handle a formal sale. According to Debtwire, which covers the leveraged finance sector, AlixPartners approached potential debt providers to assess appetite for the business before deciding to press ahead with a formal sale valuing the business at between 55m and 60m. Founders Steve Locke, Rhys Oldfield and Leigh Miller, funded the opening of their first Be At One bar in Battersea, south London, in 1998 with car loans and credit cards. Of its 31 bars, 17 are in London, with further sites in Bat, Brighton, Birmingham, Cardiff, Leeds, Liverpool, Manchester, Oxford and Sheffield. In its most recent year to 27 March 2016, turnover increased by 32 to 29.8m with group Ebitda up 42 to 4.7m and store adjusted Ebitda up 30 to 7.5m. Piper paid 8m for its 32 stake in Be At One in 2011. Richoux Group hires Simon Morgan as non-executive chairman Richoux Group has announced the appointment of Simon Morgan as non-executive chairman with immediate effect. At the same time, Philip Shotter has resigned as non-executive chairman. The company stated: The board would like to thank Mr Shotter for his service to the company. Simon David Morgan, aged 53, is currently a partner at Olswang. Mr Morgan is also a director of 34 Boscombe Road Freehold Ltd and New Notes amp Noises Limited. There are no other matters that are required to be disclosed under Schedule two paragraph (g) of the AIM Rules in relation to the appointment of Mr Morgan. Everyman Media secures Stratford site Everyman Media has confirmed that the previously announced venue in Stratford-upon-Avon has now become unconditional. It is expected that the new four screen site will open in the second quarter of 2017. The lease for the site is 25 years and the annual rent is 185,880 per annum. The landlord of the Stratford-upon-Avon site is Blue Coast Stratford. Blue Coast Stratford and Blue Coast Private Equity, who owns 19.1. of the company, are companies within the same group. Michael Rosehill, a non-executive director of the company, is a director of both entities. The company stated: Due to Mr Rosehill, as a director, and Blue Coast Private Equity L. P, as a substantial shareholder, being connected with Blue Coast Stratford LLP, the lease arrangement at the venue in Stratford-upon-Avon is considered to be a related party transaction under the AIM Rules. The directors of the company consider the terms of the lease to be on commercial terms. Furthermore, the directors of the company, other than Michael Rosehill, having consulted the companys nominated advisor Cenkos Securities, consider the terms of the lease to be fair and reasonable insofar as the companys shareholders are concerned. Social platform that helps nightclubs and bars fill their venues closes crowdfunding campaign after raising more than 103,000 Licklist, a social platform that helps nightclubs and bars fill their venue, has closed its fund-raise on crowdfunding platform Seedrs having raised more than 103,000. The company, co-founded by Brad Nobbs and Ian Hope, was offering a 7.58 equity stake as it looked to raise 100,000 to expand its operation. It has now closed the campaign having raised 103,288. The pitch stated: Licklist is a pioneering social platform integrated with an international directory of nightclubs, bars and music festivals. We solve a two-fold problem. For 18 to 30-year-olds we provide a 360-degree solution to organising the perfect night out. For nightclubs and bars we provide innovative tools to fill a venue both cost-effectively and efficiently. With the funding in place we will assemble a sales team spearheaded by former Time Out chief commercial officer Kimberley OHara. The funds will allow us to build a sales operation that introduces venues not only in the UK but in Europe to the Licklist solution. We align ourselves with the likes of TripAdvisor, which dominates the market for hotel reviews, and Just Eat, which does the same for takeaway restaurants. Were looking to do the same and dominate the market for nightlife and establish Licklist as the only brand people want to be associated with. Marco Pierre White franchised estate to hit 40 sites this year, opening in Swindon next month Marco Pierre Whites franchised restaurant company Black and White Hospitality is to open a Bardolino Pizzeria Bellini amp Espresso Bar in Swindon next month following openings in Bristol and Birmingham. The celebrity chefs franchised estate is set to hit 40 sites this year, with a total of seven due to open in 2017. The new 80-cover restaurant will be in Wood Street at the site of former The Old Bank restaurant. Manni Madhani will operate Bardolino under licence from Black and White Hospitality and will also manage The Bank bars, which are located on the first and second floors of the building. White said: Bardolino represents affordable, friendly and casual dining with authentic recognisable Italian dishes. After months of planning for the opening, Im very much looking forward to opening the doors and offering a real taste of Italy to Swindon diners. Nick Taplin, chief executive of Black and White Hospitality, added: Marco and I have a great relationship with Manni and were looking forward to working together on this venture. Bardolino is designed to offer a fresh alternative, where authentic, uncomplicated food served promptly is absolutely essential. White is an active shareholder and investor in Black and White Hospitality. The company owns the franchise rights to five Marco Pierre White restaurant brands Wheelers of St Jamess, Steakhouse Bar amp Grill, Mr Whites English Chophouse, Marcos New York Italian, and Bardolino Pizzeria, Bellini amp Espresso Bar. Black and White Hospitality works alongside hotel owners to provide a branded, profitable food and beverage solution to their hotel business. The company currently has 34 restaurants across the UK and Northern Ireland. 200 Degrees lines up sixth site, in Cardiff Nottingham-based coffee roaster and retailer 200 Degrees has lined up its sixth site, this time in Cardiff. The coffee shop and barista school will take up HK4 Groups recently closed Base Barley venue in Queen Street. The site will undergo a 250,000 refurbishment, with the opening scheduled for late spring. 200 Degrees operates two sites in Nottingham and others in Birmingham and Leeds. The companys fifth venue will open in Leicester on Thursday, 16 March. 200 Degrees co-owner Tom Vincent said: The area is one of the citys main shopping streets with a castle at one end, so in that sense it feels a lot like our first shop. Cardiff is a vibrant city and well be bringing our own signature roasts and individual style of comfortable interiors, which we hope will be as popular here as they are elsewhere. We will be setting up one of our barista schools upstairs and look forward to becoming part of the growing independent coffee scene in Cardiff. Our customers are a nice mix of business people, shoppers, students, friends meeting up and a good number of people just wasting time on social media, we aim to keep them all happy. Being near Queen Street station means theres also a need to be properly focused for people on the go and well bring all our experience from our Nottingham station site to make sure the service is up to speed and spot on. Vincent added that the company is planning more openings, with two venues already at offer stage. Shaker Group expands into hotel sector with third venue Shaker Group has expanded into the hotel sector after acquiring its third site. The company has bought the Old Rectory House in Redditch, Worcestershire, through agent Christie amp Co off an asking price of 1.45m. The company also owns and operates Euston cocktail bar Shaker amp Company, Birmingham restaurant Gas Street Social and hospitality consultancy Shaker Bar School amp Consultancy. Shaker Group is undertaking a 500,000 investment in the Old Rectory House Hotel. The programme at the ten-bedroom, three-acre hotel and grounds includes creating a 70-cover Orangery Restaurant, 60-cover terrace and gardens, 30-seater cocktail lounge, and 14-seater private dining and conference facilities. The menu will specialise in fresh, seasonal and shareable modern European cuisine, including Himalayan salt dry-aged steaks, and a drinks menu featuring handcrafted signature cocktails and sharing drinks created by the Shaker consultancy team. The Doomsday Book lists a building on this site in 1086, during which time Lady Godivas son was lord of the manor. The great grandson of Sir Christopher Wren also lived in the house for more than 40 years and made a number of alterations. He modernised the original Elizabethan house in 1812 by adding a Georgian facade to the front elevation of the building. Shaker Group managing director Adam Freeth said: We are delighted to have acquired grade II-listed Old Rectory House, which has stood on the Redditch site for several hundreds of years. Old Rectory House will sit well within our eclectic mix of hospitality businesses. We look forward to restoring the former glory and family spirit that has characterised this historic venue. Brunning amp Price opens the Fox Revived in Norwood Hill Brunning amp Price, the 58-strong pub division of The Restaurant Group, has opened the Fox Revived in Norwood Hill, Surrey. It isnt the first time Brunning amp Price has been involved in the history of the pub the founding partnership of Jerry Brunning and Graham Price first ran the pub as the third in their estate in the 1980s. Eventually the partnership left Surrey to concentrate on pub opportunities around Chester, but now the company has spread further afield to once again return to the area. This is the first pub the company has opened in 2017. Later in the year there are plans to open the Dinorben Arms in Bodfari, Wales, and the Haycutter in Oxted, Surrey. A spokesman said: We are currently recruiting for around 40 crew members for each pub and are fortunate to have sister pubs around both our new developments, which will enable us to take on brilliant people as we find them and work with them to get them up to speed before we have even finished the developments. Health and leisure resort Champneys reports turnover and profit boost Champneys, the health farm and leisure resort business owned by Dorothy and Stephen Purdew, has reported turnover rose 7.2 to 32,490,307 in the year to 30 April 2016. The business, which added Eastwell Manor in Kent to its existing portfolio of four resorts in November 2016, reported pre-tax profit of 1,818,425 (2015: 1,625,410) after exceptional items of 1,353,608 (2015: 1,643,394). The total number of guests visiting Champneys resorts rose to 166,970 (2015: 255,404), with average revenue per guest of 170.13 (2015: 170.86). The company earned royalty income of 1,441,283 in the year (2015: 1,469,217). Deliveroo has created more than 6,000 jobs Deliveroo has created more than 6,000 jobs in the UK, according to a new study commissioned by the food delivery company as it reaches the fourth year since making its first delivery. The company saw UK orders increase by 650 in 2016 as it undergoes rapid expansion. The company has created 6,300 jobs since its launch, according to research by Capital Economics commissioned by Deliveroo, although the study gives no details of the average pay or hours worked in the jobs created. The study also finds that Deliveroo has generated 200m in revenue for restaurants in Britain. Alasdair Murdoch, chief executive of restaurant chain Gourmet Burger Kitchen, said Deliveroo had produced a positive impact in a number of areas of our business, including an increase in sales, which had led to us employing more people right across our business. Heineken gives 50,000 to Pub is The Hub Heineken has given 50,000 to Pub is The Hub, with the funds directed towards the initiatives Community Services Fund and regional hub of advisors. The fund was launched in 2013 to kick-start pub diversification schemes run by licensees in the form of grants of up to 3,000. Support for the regional hubs will help with running costs, marketing and its small team of advisors around the UK. Heineken corporate affairs director David Paterson said: We are delighted to build on our support of Pub is The Hub. We warmly welcome the governments announcement last month that it will fund the organisation and we are pleased to join the government in its support and match its donation of 50,000. Heineken has partnered with Pub is The Hub for some years and, with 1,050 pubs in our Star Pubs amp Bars estate, we share Pub is The Hubs belief that the pub should be the centre of vibrant community life. Pub is The Hub chief executive John Longden added: We are thrilled Heineken has chosen to support Pub is The Hub with such a generous donation. It recognises that great licensees and their pubs play an enormously important role in communities across the UK. With Heinekens help, we can continue to support these small businesses with advice and small grants. In turn, these schemes will continue to change peoples perceptions of pubs, drive local economies, support local employment and provide important community hubs. BrewDog opens DogTap Columbus Scottish brewer and retailer BrewDog has opened its brewery outlet in the US DogTap Columbus featuring a dozen taps of the companys own craft beer alongside curated guests from the US. The company plans to double this offering to 24 taps when the BrewDog brewhouse is fully operational. To celebrate the doors opening, the company air-freighted BrewDog beer direct from its kegging line in Scotland, while further beers will be supplied by the new brewery in Columbus, Ohio, which is due to start production soon. DogTap Columbus is also offering a range of wines and liquor, sodas from Boylans Bottling Company, and freshly roasted barista coffee. DogTap Columbus, which is in Gender Road, Canal Winchester, has a range of different seating options, ranging from full table service to bar stools. DogTap also has a restaurant serving freshly cooked-to-order burgers, salads, pizzas, bar bites and sharing boards. The taproom features a gaming area with shuffleboard and pinball machines. London Cocktail Club launches membership scheme ahead of double opening in the capital London Cocktail Club (LCC) has launched a membership scheme ahead of its opening of two new sites in the capital this spring in Monument and Bishopsgate. The free club-style scheme will reward customers with a wide selection of perks true to the brands family and friends-oriented personality. The openings will be the seventh and eighth sites for LCC, which is owned by JJ Goodman, while the membership programme will offer tailor-made deals on the first day of every month. Offers will include 20 to 50 discount on drinks at selected venues, a SecretServe cocktail deal, exclusive access to events and invitations to members-only events, queue-jumping opportunities, free sharing cocktails, and a free birthday cocktail. Goodman said: Weve been dying to launch membership. It gives us the opportunity to give back to those who love LCC as much as we do. It was always an inevitable offering from us and we cant wait to see how far we can take it London Cocktail Clubs venues are in Bethnal Green, Covent Garden, Goodge Street, Islington, Oxford Circus, Shaftesbury Avenue and Shoreditch. Advanced Social Media Masterclass schedule revealed The schedule for the Advanced Social Media Masterclass has been revealed featuring all-new content and insights to allow companies to increase brand exposure and broaden their reach. Propel has partnered with digital marketing company Digital Blonde for the event, which encompasses a full-day programme of tips, insights, case studies and information to help create sector-leading, compelling content. The event takes place on Friday, 7 April at One Moorgate Place in London. The day will open with Digital Blonde founder Karen Fewell introducing the latest social media technology and trends and how these will have an impact on food, drink and hospitality marketing. It will detail all the emerging trends to watch out for and how businesses can benefit from them. Delegates will find out everything they need to know about Facebook, Instagram, Snapchat and Twitter. The sessions will revisit effective social media campaigns, with a special focus on flops and triumphs. It will delve into what success looks like across each platform and how to avoid the potential pitfalls. The day will also explore the psychology of marketing, giving delegates the chance to understand human behaviour and decision-making processes. There will be a session on boosting social success with PR and how they should work together for best results that really get audiences engaged and involved. The discussion will be brought to life with recent and relevant examples to learn from. The day will also look at the sites, blogs and social media accounts with highly engaged audiences that possess the power to make a place or product a hit. Delegates will find out how to create their dream team when it comes to recognising, recruiting and retaining social talent. Getting the job spec right, as well as understanding your audience, play a part in this mission and this session will help businesses to become a magnet for the talent they want. The event will also look at exploring how to use analytics to inform business strategies and how measuring and monitoring key metrics can lead to continuous performance improvement and a sector-leading social media presence. Delegates will also find out how their social media messages and campaigns can benefit from social advertising, all without using big budgets. The session will cover advertising examples, appropriate spend and how to evaluate paid-for activity. The day will also cover making sure your social marketing is engaging for all and there will be a session providing clarity on marketing to Baby Boomers, Generation X, millennials and Generation Z. Delegates will also find out the best ways of using social media to attract families to their pub or restaurant. The day will be rounded off by a panel of experts, who will answer burning questions that have arisen during the event. Tickets are 295 for Propel Premium members and 345 for non-members and can be booked by emailing anne. steelepropelinfo Handful of places left at Propel Multi Club Conference There are now only a few places left at the Propel Multi Club Conference on Thursday, 9 March at the Millennium Gloucester Hotel, 4-18 Harrington Gardens, London SW7 4LH. Paul Hemming, managing director at AlixPartners . will provide an overview of current mergers, acquisitions and refinancing trends in the UK market and reflect on market growth. Michael Ingemann, chairman of the ground-breaking Copenhagen-based Claus Meyer Holdings (founders of Noma) . will talk about learnings from launching a food hall and a fine dining restaurant in New Yorks Grand Central station last year while also launching a culinary school in Brooklyn. Andrea Ferraz, analyst at Morgan Stanley . will look at the impact of third-party delivery on the UK foodservice sector, compare progress in the UK with other major markets and give her views on how third-party delivery will develop in the UK. Nick Pring, co-founder of Urban Pubs and Bars, will talk about creating a unique market position in London suburbs, building a business the second time around, finding property and repositioning JD Wetherspoon pubs, creating a pizza concept, and opening a 12,000 square foot pop-up at Stratford Westfield. John West, head of franchising sales for Coffee Republic . will set out how the company has revived its fortune in the UK and overseas, its USPs, its position within the coffee market, its franchising strategy, and future plans in the UK and abroad. Jason Myers, chief executive of Busaba Eathai . the concept created by Alan Yau, will talk about evolving the brand, staff recruitment and retention, prospects for the Thai market, brand longevity, and developing its delivery and takeaway business. Kevin Charity, founder of Coaching Inn Group . will set out the benefits of taking Business Growth Fund investment two years ago, including his reflections on the process and how it has quadrupled the value of the business through the execution of a business plan that has included buying new sites, strengthening the management team, leveraging head office costs, and growing site Ebitdas through investment and operational improvements. Dan Einzig, food and beverage entrepreneur and chief executive of sector design agency Mystery . will look at current trends in Los Angeles and London and the learnings from innovative brand concepts his agency has helped to develop, including Bubbleology, Za Za Bazaar, Yorica, Rawligion and Dub Jam, its own Caribbean barbecue and reggae rum bar concept. Jayne Baker, managing director of Wright amp Bell, will talk about the ground-breaking 3.2m Imbiba-backed Kitty Hawk, the department store of dining concept combining shopping, drinking and dining its progress at its first site in South Place, and future prospects. Atholl Milton, co-founder of Street Dots . will speak about the companys development of a unique street food business model, the size and quality of the market, connecting and developing high-quality street food traders, and the way he sees street food developing in the future. Steve Locke, co-founder of Be At One . will set out how the company has developed its own distinct position in the cocktail market with a focus on staff training and development, progress in the regions, and future prospects. Multi-site companies can book two free places each by emailing anne. steelepropelinfo or calling 01444 817691. Propel Premium subscribers to receive new membership benefit Subscribers to Propel Premium are to receive a new benefit a 50 discount on tickets to Propels Masterclass series of events in 2017. The series includes The Advanced Social Media Masterclass, The Leadership Masterclass, the Finance and Investment Masterclass, and the Multi-site Management Masterclass. The current free service to all existing readers remains the same but readers can opt to upgrade to receive the Propel Premium service. Propel Premium subscribers also receive the Morning Newsletter, which is sent at 6.30am each weekday, 12 hours earlier at 6.30pm the day before. On 1 March, Propel Premium subscribers will also receive an updated version of the Propel database of multi-site companies, which will add another 200 companies to the existing database of 700 to hit the 900 mark. For operators, annual subscription costs 345 plus VAT, with an extra 50 per additional subscriber at each company. For suppliers, annual subscription costs 445 plus VAT, with an extra 50 per additional subscriber at each company. To subscribe to the Propel Premium service, email anne. steelepropelinfo Morning Briefing: Each morning, Propel publishes a comprehensive morning newsletter, reporting the latest industry news Propel Multi Club: Three times a year the Propel Multi Club meets to hear presentations from top operators and sector watchers. This is the best-attended conference series in the sector Study Tours: Propel partners sector expert home and abroad to show operators the best in new and ongoing concepts Masterclasses: Propel holds marketing, social media, brands and multi-site management masterclasses to get under the skin of the most dynamicfast-moving and challenging areas in the sector Dusk til Dawn Awards: These awards, which are held after The Bar and Nightclub Conference and held in association with the Association of Licensed Multiple Retailers, recognise the best operators in the bar and nightclub sector Investors and Operators Dinner: This annual dinner hosts the UKs most active sector investors and the sectors most dynamic growth companies to expand mutual networksWhat is IntraDay Trading Intraday trading as the name suggests refers to the trading system where you have to square-off your trade on the same day. Squaring off the trade means that you have to do the buy and sell or sell and buy transaction on t he same day before the market close. Intraday Trading is also referred to as Day trading by many traders. Lar oss forklare Intraday trading med et eksempel. Anta at du har kjøpt 100 aksjer av ABC begrenset i løpet av åpne åpningstider, da må du selge det samme nummeret. av aksjer i ABC begrenset før markedsavslutning. Det samme gjelder hvis du har solgt aksjene, må du kjøpe samme mengde av aksjen du har solgt tidligere. I nettlesingsplattformene når du foretar en intradagstransaksjon, må du spesifikt spesifisere (som vist nedenfor) at det er en intradagstransaksjon mens du bestiller bestillingen. Men i tilfelle en kjøpstransaksjon har du alltid muligheten til å bytte den til levering senere før markedet lukkes. I de fleste online handelsplattformene blir kvoter kjøpt under intradaghandel kvadrert automatisk hvis det ikke gjøres av deg før markedsavslutningen. Hvorfor mange handelsfolk finner Intraday Trading attraktiv Mekleravgift for aksjene som handles under dagens handelssegment er svært mindre enn Leveringssegmentet. High Margin er tilgjengelig for Day trading (f. eks. Hvis du har Rs.5000 i kontoen din, vil du få lov til å gjøre transaksjoner som er verdt flere ganger av denne verdien. Dette forholdet varierer i henhold til meglerforetakets policy. Noen av megling bedrifter tillater selv opptil 10 ganger margin) De ønsker ikke å bære posisjoner over natten da aksjekursen kan bli påvirket på grunn av en annen begivenhet og åpne med et gap opp eller gap ned neste dag. Intradag Trading strategier - Det er ulike stiler av handel etterfulgt av handelsmenn for Intraday trading. - Noen handelsmenn fokuserer på svært kort sikt og går ut av posisjonen når de når et minimumsnivå. Slike handelsfolk stole vanligvis på transaksjonsvolum for å gi en betydelig fortjeneste. De utfører flere kjøp og salg av handler og av og til gå ut av stillingen innen få minutter. Enkelte forhandlere stole på trenden for intradaghandel og er vanligvis mye mer tålmodige og gjør færre transaksjoner. - Farne handlere ty til intradag handel bare i tilfelle av en stor begivenhet når en bestemt aksje skal gå opp eller ned basert på noen begivenhet. Forskjellen mellom kjøp av aksjer på Intradag basis og Leveringsgrunnlag - Hvis du har kjøpt 50 aksjer av enkelte selskaper på leveransebasis, blir disse aksjene overført til din Demat-konto (vanligvis tar det 2-3 dager for å fullføre overføringen), og du kan gjøre det hva du vil med lagerene. Du kan beholde dem i 5 år eller selge dem neste uke. - Intraday trading er ikke faktisk overført til kontoen din, og du må kvittere for posisjonen din før markedet lukkes samme dag (selg samme antall aksjer) Intradag Trading for Beginners Mange nybegynnere i aksjemarkedet finner intradag trading en attraktiv alternativet og se dette som en mulighet til å tjene noen raske penger på daglig basis. Men vi har et ord med forsiktighet for dem som intradag handel er ikke så enkelt som det sounds. Making fortjeneste i intraday trading på daglig basis er ikke så lett og krever mye hardt arbeid og disiplin. Hva er dine synspunkter på dette 8211 8220Whether en nybegynner på aksjemarkedet bør ty til intraday trading eller not8221.Drop i en kommentar for å dele dine synspunkter. Jeg kjøpte HDIL på intradag på 100 aksjer 73 rs. Når kjøpsordren utføres. I thought to sell those shares so I placed 1 more order to sell 100 shares of HDIL 74.25. Men og på slutten av dagen nevnte jeg min handelskonto, jeg hadde gjort 4 transaksjoner med 2 kjøp og 2 salg av 100 aksjer hver av HDIL. Transaksjon refererer som kjøpt 100 aksjer av HDIL 73 Solgt 100 aksjer av HDIL 74,25 kjøpte 100 aksjer av HDIL 73,40 Solgt 100 aksjer av HDIL 73,40 Det jeg fant ut er salgsordre jeg plasserte er laget som kortsalgstransaksjon i intradag. Betyr dette at jeg kan kvitte seg med min intradagposisjon på meg selv. Må jeg vente til sluttdato på markedet for å kvittere min posisjon. vennligst klargjør om denne sir, hvis vi gjør deltid handel (intradag eller levering) og vil få fortjeneste per år 100000 eller 200000 da må vi betale skatt for det året eller ikke nødvendig. For intradag handel for eksempel skriptet x hvordan kan tiden jeg kan kjøpe og selge per dag er det noen begrensninger aditya kumat sier: Jeg vil være en dag handelsmann med 5000 rs jeg er nybegynner er dette beløpet er riktig for å starte og hvilken megler er best for me 8230. Becoz noen megler har noen minimum kontosaldo forhold som 20000 eller 25000rs plz hjelpe meg om dette Takk for den fantastiske forklaringen jeg har ett spørsmål. På slutten av dagen når jeg må square-off som kjøper min andel dersom ingen er interessert i dem (scenariet blir jeg kjøpte aksjer om morgenen og I nød til å kvittere før dagen slutter, men det er ingen kjøper) Hvis handelsplattformen kvitteres automatisk, hvor går aksjen til handelsutvekslingen i tilfelle det ikke er noen kjøpere (jeg antar at den skal bytte handelsveksling dvs. BSENSE) Ujjaval Jain sier: Sir, hovedsakelig i alle online plattformer for intradag trading , hvis du ikke kan gjøre kvadrat offs, vil det gjøre sqaure offs automatisk Det eksisterer ingen slik betingelse som hver kropp sellingbuying aksjer må kjøpe aksjene før nedleggelse. Hvis noen ikke selger, vil det være en feilmatch på slutten av dagen og vil automatisk bli kvadret på slutten av dagen, og jeg antar at sluttkursen kan bli gitt til alle kunder som ikke fullførte sin virksomhet. Jeg er ny for å dele markedet, faktisk nettopp begynt å surfe på nettet for å få en ide. Så min over gjetting kan være feil. minimum 1,00,000 for risikofri inntekt. Det er som en annen virksomhet ikke som gambling at du vil satse 15.000 dersom du forutsi rett så 30.000 hvis det er feil da 1.0008230 tror du investerer 1,00,000 i en butikk så mye du vil forvente månedlig. minimum 5 til 10k. men tenk hvis du vil investere 100 crores i en bollywood-film, så kan du forvente 20 til 30 crores. Så inntjening og fortjeneste varierer i henhold til investeringskapital og sektor. Så forvent alltid at anstendig tjener ut av den opprinnelige investerte kapitalen din. Vinod shet sier: ayaan malhotra sier: PERFECT ANSWER ADMIN se AYAZ hvis jeg har en stein som det jeg vil røre med det da ville det være gull, bare tenk, vil jeg noensinne fortelle dette til noen, eller vil gi dette til noen. nooooooooo82308230..never82308230. har du noen gang sett noen blogger eller tips fra warren buffet eller rakesh jhunjhunwala. de kun erklærer sin portefølje bare for å få i volum av de selskapene de allerede har investert tidligere. hvis noen meglerhus gir slike tips, så er det ok, de gir det til sine meglerforbedringer, i motsetning til at de handler med hånden din, men hvis noen andre uten meglerkort gir tips til fordel for noen penger, så er han også som deg min kjære bare håper og forutsi av noen ferdigheter. Hvis målet treffes, så vil de ta æren, men hvis stopper tapet trigered så vil de si at det er feilen i markedets volatilitet og feil trend 8230 men du vil miste pengene, ikke de. Så vær forsiktig med disse typer såkalte markedsguruer. Jeg vil vite om realkostnad for aksjeverdi0,10 pålydende 1,00 hvis jeg vil kjøpe 10.000 aksjer enn hvor mye beløp vil. trukket fra kontoen min. Er det 1000 eller 100008230 .. Vennligst svar snart Du må betale markedsverdien (Aksjeverdi) for å kjøpe aksjen. Face value is the value of stock at the time of IPO. You do not have to go into this. Sir, Mitt første spørsmål er hva er forskjellen mellom kontanthandel og intradaghandel. I intradaghandel bør jeg betale kontant ved kjøp av aksjer. Herre, hjelper meg også til å forstå at hvor mange typer handelssystemer det er på aksjemarkedet, mener jeg å si vennligst gi et diagram der FREMTIDIGE TRADINGCASH TRADINGPOSITIONAL TRADINGINTRADAY TRADING, og OM NOEN TYPER AV TRADING SYSTEMS ER DET I LÅGEMARKEDET, vil bli differensiert på et enkelt språk. Ser etter ditt tidlige svar. Tusen takk Når du handler intradag, må du betale kontant, men det vil være en brøkdel av det totale antall aksjer kjøpt i løpet av dagen. For eksempel hvis du vil kjøpe 100 aksjer i ABC Ltd. på Rs. 100 per aksje i intraday trading, må du ha 10000 dollar (100 X 100) i kontoen din. Din megler vil tillate deg å plassere handelen selv om du har en brøkdel av det beløpet i din handelskonto, f. eks. 20 8211 Rs. 2000( differs from broker to broker). Imidlertid må du kvittere for handel før markedsavslutning. Angående spørsmålet ditt om typer trading. It kan bredt kategoriseres som Stock Trading 8211 8211 Intraday trading, 8211 Cash Trading (Leveringshandel) Fremtidige handelsalternativer Trading Commodity Trading (ferdig for varer i ulike børser) Forex Trading (handel i ulike valutaer )