Tesco chooses two new execs June 2, 2014 TESCO appointed two new executives in creative roles yesterday, as it seeks new ways to improve sales. Jill Easterbrook has been appointed as chief customer officer. She has worked at Tesco for 13 years. Matt Atkinson has been picked as chief creative officer and will work on new products. “Both have played a big part [...]
Sliding German inflation seen ahead of central bank decision June 2, 2014 GERMAN inflation plunged in May, dropping to just 0.6 per cent from the same month in 2013, a reduction of nearly half from the figure that was recorded in April. The country’s harmonised index of prices was expected to fall, but only to one per cent. “At this stage, it seems likely that part of [...]
New poll shows Tories in line to win in Newark June 2, 2014 NEW POLLING suggests the Conservatives will hold the seat of Newark in a by-election this Thursday, with Ukip coming second, Labour beaten into third place and the Liberal Democrats trailing on just six per cent. The election, triggered after incumbent MP Patrick Mercer stepped down following a lobbying scandal, is being seen as a good [...]
Bank of America poaches top UK corporate broker from Swiss rival June 2, 2014 BANK of America Merrill Lynch (Baml) yesterday bolstered its corporate broking team by hiring Tim Waddell from UBS. He will focus on UK clients, and the bank hopes Waddell can help it become the broker for more than 30 FTSE100 firms – Baml is currently on 29, shortly behind leading bank JP Morgan. Baml hopes to [...]
Belgium probes UBS money launder claims June 2, 2014 SWISS bank UBS is facing an investigation by Belgian authorities who suspect it may have helped clients launder money. The investigation, headed by Judge Michel Claise, began late last year. Its announcement comes after claims in Belgique magazine that UBS had approached wealthy clients and encouraged them to funnel money into undeclared accounts in Switzerland. “We [...]
Airlines making just £3.60 profit per passenger June 2, 2014 THE GLOBAL airline industry earns on average less than $6 (£3.60) from each passenger, according to research from the International Air Transport Association (Iata). While the trade body still expects there to be significant overall growth in 2014 for the global airline industry compared to 2013, Iata slashed its profit forecast for the sector for [...]
Bottom Line: World Cup kicks off problems for air traffic June 2, 2014 WHEN the England football team jetted off to Miami at the weekend for a couple of pre-World Cup friendlies, they did so from Luton. They took a private plane of course – tourists can only get as far as Egypt or the Canaries from the north of London airport – but their departure will kick [...]
Google investing up to $3bn in satellites to connect the world June 2, 2014 GOOGLE is reportedly planning to spend up to $3bn (£1.8bn) in its push to bring internet access to unconnected parts of the world using a fleet of 180 low-orbit satellites. The search giant is poised to spend between $1bn and $3bn on the project according to a report in The Wall Street Journal which said [...]
Card Factory secures £200m in refinancing June 2, 2014 CARD factory, the budget greetings cards chain which floated on the London Stock Exchange last month, said yesterday it has completed a £200m refinancing. The group said the refinancing deal, which it set out last month at the time of the float, includes a £180m term loan facility and a £20m revolving facility, both with [...]
Glaxosmithkline agrees $350m link-up with cancer specialists June 2, 2014 GLAXOSMITHKLINE, the UK’s largest pharmaceuticals firm, has agreed a strategic deal with British biotech company Adaptimmune to develop cancer drugs. The arrangement could see privately-owned Adaptimmune earn more than $350m (£209m) over the next seven years, the firm said in a statement. “GSK’s substantial development and manufacturing expertise in key areas will be invaluable as [...]