AstraZeneca pays a bumper bonus and bolsters its board March 20, 2014 ASTRAZENECA boss Pascal Soriot was awarded a bumper bonus for 2013, equivalent to 94 per cent of the maximum the pharmaceuticals giant could have paid its CEO. The company’s annual report, published yesterday, cited several acquisitions that have bolstered its pipeline. Despite declining sales and profits, Soriot received a £1.87m bonus for 2013, taking his [...]
Testing firm Exova plans £110m float on London Stock Exchange March 20, 2014 EXOVA yesterday became the latest company to unveil its plans to float on the London Stock Exchange. The Edinburgh-based firm, which tests components for customers in a wide range of sectors including aerospace, oil and gas and pharmaceuticals, is looking to raise £110m from a premium listing on the main market next month. Around 30 [...]
Three former G4S guards face manslaughter charges over death of man deported from UK March 20, 2014 THREE former officers of security firm G4S will face manslaughter charges over the 2010 death of a man who died as he was being deported from Britain by the group, government prosecutors said yesterday. The prosecutor’s office, which had previously ruled out any action in relation to the case, said it had decided not to [...]
Criminals are choosing jail time over paying fines, warn MPs March 20, 2014 CRIMINALS are choosing to serve longer prison sentences rather than pay fines associated with their crime, MPs have discovered. A new report details the lengths some criminals go to in order to avoid getting hit with so-called confiscation orders – where assets gained through crime are seized by the government. “Crime should not pay, but [...]
Profits rise at Premier Farnell March 20, 2014 Premier Farnell, a distributor of electronic devices and components, has reported an 8.4 per cent rise in full-year pre-tax profit, helped by higher-than-expected sales in China, India and eastern Europe in the second half of the year. Premier Farnell said sales in emerging markets rose 14.9 per cent in the year, topping the company’s target [...]
Chinese shoppers boost Hermes March 20, 2014 French luxury goods maker Hermes saw good demand over the Chinese New Year, the company said yesterday, underscoring its resilience to a crackdown on illicit gift-giving in the industry’s biggest market that has hit some rivals hard. Posting a nine per cent rise in 2013 operating profit, the maker of Birkin handbags and printed silk [...]
Correction March 20, 2014 On page 26 of yesterday’s City A.M. we attributed a Budget response statement from A Fair Tax on Flying to IAG chief executive Willie Walsh. While IAG and British Airways have supported calls to scrap air passenger duty, Walsh is not a member of A Fair Tax on Flying. We are happy to set the [...]
ITV boss Adam Crozier sees pay rocket to £8.4m March 20, 2014 ITV CHIEF executive Adam Crozier’s pay nearly trebled last year to £8.36m, from £2.9m a year earlier. The majority of the windfall was due to a share-based joining award from 2010 which has soared in value to £4m in line with the broadcaster’s fortunes under Crozier. “The level of vesting of both awards reflects the [...]
M&C Saatchi’s revenues reach record high on new business March 20, 2014 ADVERTISING giant M&C Saatchi reported a five per cent increase in full-year revenue to £177.4m after it brought on board new clients such as the UK government and coffee chain Douwe Egberts. M&C Saatchi’s shares closed slightly up at 297.5p after it reported an eight per cent profit boost to £18.6m. “2013 was another year [...]
Port operator DP World beats profit forecasts March 20, 2014 THE OWNER of the London Gateway container port yesterday said patchy global demand for freight shipments dampened its revenues last year, though profits were up more than forecast. Dubai-based DP World said turnover fell 1.5 per cent to $3.1bn last year. Profits rose 10.9 per cent to $604m, or 26.6 per cent at constant currency. [...]