Checkers Restaurants Opening At Strong Pace

PRESS RELEASE: TAMPA, Fla., July 10, 2009 - Non-traditional locations, including an airport, a state university and four turnpike rest areas, account for six of the 18 new Checkers Drive-In Restaurants opened in the second quarter of 2009 as the double drive-thru chain headquartered in Tampa sets a pace of openings in the first half of the year not seen since the year 2000.
In the first six months of 2009, 23 new restaurants have opened in eight states through nine new franchisees, 10 current franchisees and one opened by the Company.

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http://www.chainleader.com/article/ca6670539.html

Hong Kong to Expand Stake in Disneyland

The Hong Kong Legislative Council Finance Committee on Friday approved an increase in Hong Kong government's equity in the joint venture with Walt Disney Co., through conversion of HK$6.25 billion ($806 million) of an existing loan to shares, for the expansion development of Hong Kong Disneyland in the next five years.In what local media called "a lucky break," legislators voted 28-5 with 10 abstentions to approve the unpopular proposal. Legislators who voted for the proposal said they were in a catch-21 situation and described the proposal as "being hijacked," adding that the expansion proposal "is only a slightly less bad amendment to a very bad agreement." Legislators project a HK$100 million ($12.9 million) loss within the five years before the expansion is complete.

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http://www.hdmag.com/hospitalitydesign/content_display/industry-news/e3ibc00472ddc77210beebff4f0d0eb2e08

Canada companies seen lagging on accounting switch

TORONTO, June 25 (Reuters) - Many of Canada's public companies have been slow to implement new international accounting standards that could have big financial implications, according to a study released on Thursday.
Companies will have to scramble to make the changes ahead of a 2011 deadline, the report said

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http://www.reuters.com/article/marketsNews/idUSN2527382020090625

Swiss tax rules lure McDonald’s from UK

McDonald’s is to leave London for Geneva, joining the growing ranks of US companies moving their European headquarters to take advantage of preferential intellectual property tax laws.
The fast-food group, which will open its head office in the Swiss city in the autumn, said the move had been almost a year in the planning.

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http://www.ft.com/cms/s/0/4534cacc-6f18-11de-9109-00144feabdc0.html

Geronimo Pubs extends territory

The sell-off of top-end pubs by Punch Taverns will gather pace today when it exchanges contracts on the sale of six managed pubs in London to Geronimo Inns, a food-led operator backed by Penta Capital, the private equity firm

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http://business.timesonline.co.uk/tol/business/industry_sectors/leisure/article6694761.ece

Punch to reduce debt by £1.3bn

Punch Taverns is enjoying improved managed division margins and should be able to reduce its overall debt by at least £1.3bn in the coming two years, a leading City analyst has reported in the wake of a meeting with Punch executives. Numis Securities analyst Douglas Jack said Punch’s fund-raising has undermined the share price, such that it is on half the peer group average (based on EV/ EBITDA) and a third of Net Asset Value.

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http://www.morningadvertiser.co.uk/news.ma/article/83712