BAT shuffles top staff as chief exec Paul Adams retires June 24, 2010 BRITISH American Tobacco said its chief executive Paul Adams will retire next February, to be replaced by chief operating officer Nicandro Durante. The world’s second biggest cigarette-maker said yesterday 53-year-old Durante, who has worked for the company for 29 years, will take over as chief executive designate in September. A number of other staff shuffles [...]
BAA weathers air travel disruption and plans Heathrow improvements June 24, 2010 AIRPORT operator BAA lowered its 2010 profits forecast by £10m yesterday, less than the £40m lost in disruption caused by the British Airways strikes, winter storms and volcanic eruptions. It also rekindled plans for a high speed railway from Waterloo to Heathrow, mooting further investment in rail links and improving Terminal Two with the money [...]
P&G increases its European market share June 24, 2010 PROCTER & Gamble, the maker of Gillette razors, said yesterday that new product ranges and cheaper versions of existing brands were boosting its market share in Europe in a particularly difficult economic climate for retailers. The world’s biggest consumer goods group has launched new automatic dishwasher and stain removal products over the last two years, [...]
CITY VIEWS: WHERE DID YOU WATCH THE ENGLAND MATCH? June 24, 2010 STEFANO AMBROGI THOMSON REUTERS “I watched the game in Shoreditch, at work. I’m not a massive football fan, but it was a good game. People haven’t really been watching the football at work, as we’re often too busy. I’m not too bothered, personally. I’ll possibly watch the next match on Sunday, if I don’t get [...]
Pubs enjoy boost from England win June 24, 2010 CITY pubs were celebrating a bumper day’s trading on Wednesday after England beat Slovenia to reach the knock-out stages of the World Cup. The streets of the Square Mile were packed from 3pm onwards as some took a half day of leave to watch the game and others chose to stay in the pub celebrating [...]
Carillion lands key PPP project June 24, 2010 SUPPORT services group Carillion said yesterday it had been awarded a public private partnership (PPP) project in Toronto worth £306m, buoying its London-listed shares. Under the deal, Carillion will invest £11.8m into the project, Toronto’s Forensic Services and Coroner’s Complex (FSCC). It will also arrange debt financing for the construction of the project, as well [...]
McBride hit by raw price surge June 24, 2010 OWN-BRAND personal care products supplier McBride yesterday warned that its raw material costs are set to soar next year and that there would be an inevitable delay before the increase can be passed on to its customers. McBride, which counts supermarket groups Asda and Tesco among its UK clients, went some way towards soothing investors [...]
Dixons brand to be revived June 24, 2010 DSG International, which owns Currys and PC World said yesterday it would change its name back to Dixons as it returned to profit in the year to the end of May. Europe’s second largest electricals retailer reported profits of £112.7m – up from a loss the year before of £123.6m. Sales rose three per cent [...]
H&M hit by summer slump June 24, 2010 H&M yesterday reported that it could be forced to reduce prices to offload spring stock after unseasonally cool weather hit sales. The Swedish fashion retailer said demand in April and May was unexpectedly weak despite reporting a 24 per cent profit rise in the third quarter. It added that “this could lead to a higher [...]
Specsavers founder gains recognition for her lifetime business achievements June 24, 2010 SPECSAVERS founder Dame Mary Perkins has been given a lifetime achievement award for her impact on the business world. The entrepreneur was recognised at the First Women Awards for her shrewd business sense and work ethic. Dame Mary, who started the business in her spare bedroom with husband Doug in 1984, was also credited for [...]