Sir Ian Cheshire bows out after seven years turning around the B&Q and Castorama owner September 10, 2014 KINGFISHER chief executive Sir Ian Cheshire announced yesterday he was to leave after seven years at the helm, having doubled pre-tax profits at the DIY chain and helped to steer it out of the recession. Sir Ian, who will be replaced by Castorama boss Veronique Laury, said that Kingfisher needed a chief executive to commit [...]
UK commuters feeling strain of taking the train September 10, 2014 If you are a regular traveller on the 16:46 from London Euston to Crewe and are wondering why you never get a seat, it’s because you are on the most crowded train service in Britain. According to figures released yesterday by the Rail Executive of the Department for Transport, last autumn the four-carriage service carried an [...]
Viacom closes £450m Channel 5 takeover and unveils new shows September 10, 2014 MTV-OWNER Viacom has completed its £450m takeover of Channel 5, ending the auction process of the UK broadcaster which began last year. Viacom also announced its first joint programme commissions with Channel 5, a reality TV show called 10,000 BC, as the US group looks to boost the British channel’s programming budget and benefit from [...]
LSE completes Russell acquisition September 10, 2014 LONDON Stock Exchange shareholders yesterday backed its biggest ever acquisition after voting through the £1.6bn acquisition of Russell Investments. The exchanger operator, which launched a £942m rights issue to buy the group, said 99.96 per cent of shareholders approved the deal at a general meeting yesterday. Chief executive Xavier Rolet has bought the group to [...]
BSkyB prices £3.25bn bond issue to cover the cost of Sky Europe September 10, 2014 SHARES in British Sky Broadcasting fell slightly in trading yesterday after it priced £3.25bn of euro- and US dollar-denominated bonds to help it buy Sky Italia and Sky Deutschland. The deal will create a so-called Sky Europe, a pan-European PayTV empire, described by BSkyB as a “world-class, multinational pay TV business with enhanced headroom for [...]
63 chances to join mile-high club in style September 10, 2014 YOU WOULD have thought it was an exclusive club with strictly limited chances to join, but, in fact, Britain is awash with private jets for sale. One-in-six UK jet owners are bored with their lives of luxury and are selling up. There are 63 on the market in Britain right now, according aviation management and charter firm [...]
Abercrumpet & Fudge: Fatties upstage models September 10, 2014 ABERCROMBIE and Fitch is known for its snooty attitude towards anyone it deems unattractive, but the porkers fought back yesterday. The upmarket Burlington Gardens store hired some hunks to pose topless outside, but the show was crashed by a pair of more portly gents showing off in heroic poses. Quite a sight in the chilly [...]
Sports Direct on a roll despite England failure September 10, 2014 SPORTS retailer Sports Direct yesterday reported rising sales and profit for the last three months, despite a soft patch during England’s poor World Cup run. The company, founded by Newcastle United owner Mike Ashley, said group sales rose 12.2 per cent for the 13 week period ending 27 July, to £711.2m, while gross profit increased [...]
Inside Track: City contingency planning for Yes vote long overdue September 10, 2014 YESTERDAY’S desperate round of campaigning in Scotland by the main Westminster party leaders might have offered a boost – but not to those they wanted to vote No to independence. In the City, the reality check of a Yes vote being a genuine prospect is triggering contingency planning that should have been underway months ago. [...]
Greene King sees a slow start to the year as World Cup hits sales September 10, 2014 British pub and breweries group Greene King announced yesterday that it expected sales in its core managed division to improve over the remainder of the year, after a disappointing 0.4 per cent growth in the first quarter due to the impact of England’s disappointing World Cup performance. The group also said that despite the UK’s [...]