End of an era as Glencore names Patrice Merrin as first female director June 26, 2014 The last bastion of male-only boards at a blue-chip company fell yesterday when Glencore Xstrata appointed Patrice Merrin as its first female director. The Anglo-Swiss mining and trading giant had come under heavy criticism from the government, its shareholders and Club 30% – which aims to get FTSE 100 boards to be made up [...]
Oxford Uni appoints Sir Paul Ruddock as investment boss June 26, 2014 SIR PAUL Ruddock, the co-founder of Lansdowne Partners, has been unveiled as the new chair of the Oxford University’s investment committee, his first major role since retiring from the group last year. Sir Paul will join the committee in September and become chair in January, taking over from Richard Oldfield. He exited the business he [...]
New Bank of England director Anthony Habgood on hunt for more women June 26, 2014 The Treasury Select Committee has approved the appointment of Anthony Habgood as chairman of the court of the Bank of England. Habgood, who succeeds Sir David Lees told MPs that the lack of female representation on the Bank’s board was a problem. “We should have more women. The most crying gap right now is a [...]
Morrisons warns of discounters’ growing threat June 26, 2014 MORRISONS boss Dalton Philips warned yesterday that discounters could grow to as much as 25 per cent of the grocery market if supermarkets fail to “face the brutal reality” of the changes taking place and fight back. Speaking at the British Retail Consortium’s annual symposium, Philips said the threat posed to the UK’s big four [...]
Debenhams refinances debts with £225m bond June 26, 2014 Department store Debenhams refinanced its debts yesterday after launching a £225m bond issue. The retailer has sold £225m of senior notes due in 2021 at a 5.25 per cent yield. This was more than the £200m it had planned to raise when it announced the bond issue last week. Chief executive Michael Sharp, said the [...]
BT facing fines over Openreach repair targets June 26, 2014 British telecoms giant BT could face fines if it does not meet new targets to repair its extensive UK telephone and broadband network, Ofcom said yesterday. New rules that come into force on Monday require BT’s Openreach infrastructure division to fix 70 per cent of faults – in the network used by BT’s own customers, [...]
Behind the deal June 26, 2014 RBC CAPITAL MARKETS | JOSHUA CRITCHLEY 1 Critchley is the son of the late Conservative MP, Sir Julian Critchley. 2 He joined RBC Capital Markets in September 2009 and is currently managing director and head of European investment banking. 3 Prior to RBC, he was at Goldman Sachs from 2004 to 2009 and served at [...]
Bottom Line: Xavier Rolet proves his ambitious streak June 26, 2014 The market exchange sector is a dog eat dog world. Yesterday, London Stock Exchange boss Xavier Rolet bared his teeth and put the UK exchange on the front foot in the increasingly heated battle to control who trades what where. Never mind the audaciousness of snatching the group from under the noses of larger rival [...]
Kenmare says no to Iluka June 26, 2014 SHARES in Kenmare Resources soared 25 per cent yesterday after it revealed that it had rejected a merger offer from Australian rival Iluka Resources. Titanium producer Kenmare said the offer did not recognise the value of its Moma mine as “a long-life, low-cost asset”. Iluka’s offer was based on a share-for-share exchange, with no cash [...]
Gulfsands mulls a rights issue June 26, 2014 LONDON-listed oil producer Gulfsands yesterday warned it might have to issue new shares after the Syria conflict hit revenues. It said it had not made “any significant revenue” in the past two and a half years, and as a result was looking at “all sensible options” for improving its cash position. The bulk of Gulfsands [...]