What the other papers say this morning – 25 June 2014 June 24, 2014 FINANCIAL TIMES China’s new plan to rival World Bank China is expanding plans to establish a global financial institution to rival the World Bank and the Asian Development Bank, which Beijing fears are too influenced by the US and its allies. In meetings with other countries, Beijing has proposed doubling the size of registered capital [...]
Huntsworth shareholders rebel June 24, 2014 One-third of shareholders voted against bosses’ pay at public relations firm Huntsworth yesterday. In an embarrassing turn of events for chief Lord Chadlington, 32.59 per cent voted against the remuneration policy at yesterday’s meeting, in a non-binding vote governing future pay. Almost as many abstained on the vote to re-appoint Chadlington. And 23.38 per cent [...]
Tony O’Reilly hit by €22m ruling June 24, 2014 Ireland’s former richest man Tony O’Reilly is insolvent, AIB has claimed in court. The lender secured a €22m (£17.6m) ruling against the businessman, who plans to sell his Castlemartin estate to pay the bill. But his total debts amount to €195m. O’Reilly has requested a six month delay on the ruling in an effort to [...]
Spire seeks £1bn in London float June 24, 2014 One of Britain’s largest hospital chains, Spire Healthcare, is to list on the London Stock Exchange in a float estimated to be about £1bn, Reuters reported. Spire, which is owned by private equity firm Cinven, owns 38 hospitals and will be publishing its formal intention to float on the London Stock Exchange. It was recently [...]
Zero hours rules to crack down on exclusivity June 24, 2014 EMPLOYERS hiring workers on zero-hours contracts will no longer be allowed to compel their staff to work only for them, following a government intervention announced today. Exclusivity clauses will now be banned for zero-hours contracts, allowing workers to look for and undertake employment elsewhere. The government estimates that 125,000 workers are tied to such arrangements. [...]
Labour calls on fiscal watchdog to grill politicians over spending June 24, 2014 LABOUR shadow chancellor Ed Balls is calling on the Office for Budget Responsibility (OBR) to test each spending commitment made by the main political parties in their manifestos in the run up to the general election. In an article today, Balls will make the case for tougher measures to ensure politicians’ promises are as good as [...]
European flights hit by French strikes June 24, 2014 THOUSANDS of air passengers across Europe endured a day of delays and cancellations yesterday as French air traffic controllers began a six-day strike. Ryanair said it cancelled 220 flights yesterday, or 13 per cent of its total schedule. The French authorities have warned that the disruption across Europe is likely to be “materially worse” today.
Lord Harris puts off Carpetright retirement plan June 24, 2014 CARPETRIGHT founder Lord Harris announced yesterday that he planned to stay on as non-executive chairman, just weeks after announcing his retirement, as the retailer reported widening losses. Lord Harris will hand over the day-to-day running of the business to a new chief executive, Wilf Walsh, next month. He had intended to step down from the [...]
Bottom Line: It’s time for Carpetright to put itself right June 24, 2014 Walking away from your labour of love can be a heartbreaking endeavour. Even worse, I’d imagine, when the company that you’ve spent decades building into a retail giant is down in the dumps. Philip Harris, now Baron Harris of Carpetright, is understandably keen to depart on a high note. After all, he’s been in the carpet [...]
Analyst Views: What was your reaction to Carpetright’s results and the board changes? June 24, 2014 FREDDIE GEORGE | CANTOR FITZGERALD With Carpetright coming close to completing a number of initiatives (58 per cent of the store estate has now been modernised), it feels as though it is in a vacuum, awaiting new management to stamp its authority on strategy. We remain convinced that the concept is not in tune with [...]