Regus plans to open 300 sites in 2014 March 4, 2014 WORKSPACE provider Regus plans to open at least 300 sites this year targeting more travel hubs such as stations and airports to meet changing work habits. Regus, which runs over 1,800 workspaces across the world, opened 448 new sites last year and expanded into new markets like Africa. Profits fell four per cent to £81.5m [...]
RWE posts first losses in 60 years March 4, 2014 GERMAN power giant RWE, which owns UK firm Npower, yesterday posted its first annual loss in more than 60 years due to writedowns, as increased renewables capacity hit the profitability of its power plants. RWE posted a net loss of €2.8bn (£2.3bn), down from €1.31bn in 2012, due to impairment losses of €4.8bn. The firm’s [...]
Serco earnings hit by prisoner tagging scandal March 4, 2014 SCANDAL-STRUCK outsourcing firm Serco’s acting chief executive yesterday said he was confident of a return to growth, despite a 62 per cent decline in full-year profit and a gloomy outlook for 2014. “The events of 2013 absorbed management’s focus and, therefore, interrupted the normal process of improving efficiency and developing our business into new areas,” [...]
Analyst Views: Were Serco’s full-year results in line with your expectations? March 4, 2014 SAM THOMAS | CANTOR FITZGERALD The results were disappointing, as we expected. Pre-tax profits decreased around two per cent to £254.4m, below consensus of £258.7m. While we welcomed Friday’s announcement that Soames would become group chief executive, he will have his work cut out. Serco is in need of serious repair. MIKE ALLEN | PANMURE [...]
Verizon in talks over TV content March 4, 2014 Verizon Communications is in talks with content providers to deliver web-based TV services to mobile platforms, chief executive Lowell McAdam told investors yesterday. A day earlier, Dish Network and Walt Disney announced a landmark deal that will allow the no2 satellite TV provider to deliver Disney-owned network content online, outside of a traditional TV subscription. [...]
Private client merger for law firms March 4, 2014 Law firms Bircham Dyson Bell and Ambrose Appelbe yesterday announced plans to merge, creating a new 47-partner practice with a combined annual turnover of around £33m. Ambrose Appelbe’s four private client partners will move into Bircham Dyson Bell’s Victoria office when the tie-up is completed at the start of April, following a unanimous partner vote [...]
JLT reports strong 2013 results March 4, 2014 Insurer Jardine Lloyd Thompson announced strong results for 2013 yesterday, with revenue up 11 per cent to £979.2m from 2012 and profit before tax at £177.4m, 13 per cent ahead of the previous year. Chief executive Dominic Burke said he was pleased with such a “strong set of results.” Analysts welcomed the results but Panmure [...]
Steve Ballmer doesn’t fit the Bill at Oxford March 4, 2014 COULD Microsoft’s former chief executive Steve Ballmer be destined to remain forever in the shadow of the tech giant’s illustrious founder Bill Gates? The recently retired boss appeared at Saïd Business School, Oxford yesterday to talk in front of a packed audience of MBAs and was repeatedly called “Bill” by host, Professor Peter Tufano. Ballmer [...]
Justin King swears off crisps for Lent as City figures quit meetings March 4, 2014 STOCKS of crisps at the Sainsbury’s Local next to the supermarket’s Holborn HQ are likely to be more bountiful than usual from today, as it turns out chief executive Justin King has given up crisps for Lent. Forty days of abstinence kicks off today – but what are City figures giving up? Well, CEO of [...]
Livery Master falls flat as a Pancake in race March 4, 2014 THE CITY’S historic Livery Companies gathered at Guildhall yesterday for the annual Poulters Company Pancake Race. Dressed in their fur-lined robes, topped with chef hats and armed with frying pans they raced. Unfortunately, one (unidentified) Master came a cropper but luckily St John’s Ambulance was on hand and no injuries were sustained.