Category Archives: Business

Billingsgate Porters Protest

The Fish Porters at Billingsgate Market are currently protesting at plans by the City of London Corporation to deregulate the market by removing old by-laws which state how the market should be run. This will more than likely lead to the Fish Porters losing their work to cheaper, un-skilled labour.

The Fish Porters also think that this is the start of plans to sell off the market to property developers, as its in a prime location near Canary Wharf.

Here’s links to both sides of the story:-

Unite     City of London Corporation

Evening Standard to be free paper

This story was on the BBC website just now. Apparently, the publishers of the London Evening Standard have announced it is to become a free paper, with approx. 600,000 copies to be given out in London.

This follows the recent closure of the London Paper, News International’s London free sheet.

No details on the Standard website at the moment.

Quite often they dish them out free in the evenings anyway, at least in Central London, at main train stations, tube stations etc. I assume thats to keep up the circulation/readership figures, to keep the advertisers happy.

Will be interesting to see if this leads to any further new papers being launched or if too many hands have already been burnt in this market, especially with the  low levels of advertising about at the moment (except for all those poxy ‘sell your gold’ adverts on tv!)

The London Paper to close

News International has announced the pending closure of the evening freesheet ‘The London Paper’. This is due to losses of around 13m in the year to June 2008. The main reason has been the decline in advertising demand in the current recession and also the competition in the London freesheet market.

This still leaves the London Lite as an evening freesheet, but this could also be closed by rivals Associated Press, as they may feel it has done its job in seeing off the News International competitor and will leave Associated’s London Evening Standard as the only evening London newspaper, once again.

Maybe a new freesheet will appear once the economy picks up again and advertising revenues increase.

Full story on The Independent website

Kemsley property company goes bust

Just read today that Paul Kemsley’s property investment company Rock Investments has gone bust to the tune of £500 million. This will provoke a massive outburst of schadenfreude among people in the city and also among Spurs fans.

Kemsley was unpopular on both fronts – in the city due to his aggressive deal-making behaviour and amongst Spurs fans, as he was a left over from Alan Sugar’s days at Spurs. This also led to him appearing on The Apprentice as part of the interview panel that grills the contestants in the last week before the final. Funnily enough, he was missing from this years panel. But still there was Claude Littner, another unpopular name amongst Spurs fans. The final straw for Kemsley at Spurs came when he was behind the messy attempts to replace Martin Jol with Juande Ramos. He ended up resigning from the board and, instead, focussing on his business interests in US – which have also gone pear-shaped.

Interestingly, Kemsley is also a big mate of Mike Ashley, the bungling owner of Newcastle.

Both men have had their fingers burnt in badly judged spread betting, with Kemsley losing a lot when Lehmann Bros went pop and then trying to sue the spread betting firm to get his money back.

Related Articles: mt.com Evening Standard The Times