Dalman in threat to quit ENRC board
The chairman brought in to clean up ENRC could quit the FTSE 100 miner because of a boardroom rift with executives. Mehmet Dalman, who is leading an internal investigation into fraud allegations related to ENRC’s assets in Kazakhstan, has threatened to leave after a “pressure point” was reached in his relationship with executives that crossed “issues of principle”, said a person close to the situation. Mr Dalman’s exit would be a blow to the miner whose share price has more than halved in the past year.
Welfare cuts widen prosperity gap
Cuts to welfare payments will hit the local economies of northern towns and cities as much as five times as hard as the Conservative heartland southern counties, according to research commissioned by the Financial Times.
M&S chief under fire over sales
Some of the biggest shareholders in Marks and Spencer are stepping up pressure on chief executive Marc Bolland to stem the retailer’s haemorrhaging of sales. Several investors are seeking greater clarity on Mr Bolland’s strategy.
Investec quits Stobart
The corporate governance crisis at Stobart has deepend with the resignation of its senior City broker. Investec walked away from the trucking group a week after Stobart’s executive chairman, was ousted.
Skype founder backs TransferWise
The founder of Skype and one of the biggest beneficiaries of the Facebook float have backed a plan to provide European start-ups with $100m (£65m) of free international cash transfers.
The Daily Telegraph
Tchenguiz hired ex-Mossad agents
Property tycoon Vincent Tchenguiz hired former Mossad agents to dig up information on his business enemies as he successfully fought an attempted prosecution by the Serious Fraud Office.
TalkTalk accuses BT of monopoly
Dido Harding, the chief executive of TalkTalk, has thrown back the accusation of being a “Luddite” at Ian Livingston, claiming the boss of BT is building an old-fashioned, government-backed monopoly.
THE WALL STREET JOURNAL
Dimon sorry as changes demanded
JP Morgan chief executive Jamie Dimon renewed his apologies to shareholders for last year's multibillion-dollar trading “London Whale” fiasco as CtW, an investor, pushed for board reform.
Deutsche Tel in final MetroPCS offer
German telecoms firm Deutsche Telekom has sweetened its offer for US wireless carrier MetroPCS hoping to save a merger that shareholders had previously threatened to reject.