MARKS & SPENCER DUO LET PHONE TAPPING BYGONES STAY BYGONES July 12, 2009 REMEMBER retail tycoon Sir Philip Green’s bid for rival Sir Stuart Rose’s Marks and Spencer back in 2004, commonly known as one of the most intriguing takeover campaigns in corporate history? At the time, the City lapped up tales of stepped-up security at the retailer, including investigations into allegations that third parties had illegally accessed [...]
BILL OF THE WEEK July 12, 2009 TO recently-relaunched Piccadilly power dining hotspot Criterion on Friday evening for a lavish £2,767.50 dinner for four. Our distinguished patrons certainly had taste – they ordered two bottles of 1999 Perrier Jouet champagne to kick off the evening, followed by vodka cocktails and bottles of 2004 Chassagne Montrachet, 1996 Chateau Mouton Rothschild and a magnum [...]
McDonald’s to swap London for Geneva July 12, 2009 FAST food giant McDonald’s yesterday confirmed it was joining the growing list of multinational companies to have quit the UK and relocate their European headquarters. The US chain, which runs 1,200 restaurants in Britain, plans to move from its current headquarters in East Finchley, north London, to Geneva by the end of the year. McDonald’s [...]
Vasanta says it is nearing vital deal July 12, 2009 OFFICE supply giant Vasanta has spoken out again to reassure backers over its financial situation, stating it has entered the last stages of talks with its unnamed private equity saviour. Group chief executive Richard Martin yesterday said the private equity investor, who is backed by the firm’s lending banks, has been granted a “short period [...]
Citigroup to put Grundhofer in charge of US banking operations July 12, 2009 CITIGROUP is set to hand a key role to highly-respected banker Jerry Grundhofer as it presses on with a boardroom shake-up designed to appease government and regulators. Grundhofer, a former head of US Bancorp, is tipped to be made chair of Citi’s audit and risk committee as well as its core US banking operation, Citibank, [...]
Sainsbury’s in the spotlight July 12, 2009 J SAINSBURY is hoping, according to insiders, for a “plain old AGM” this Wednesday as shareholders gather around chief executive Justin King for the yearly meet. Sainsbury will be hoping the meeting will largely be an opportunity for investors to laud its current trading efforts, which has seen it outperforming rivals. But shareholders may want [...]
Financial services in recruiting drive July 12, 2009 RECRUITMENT in the financial services is showing signs of recovery after a long slump, with stockbrokers leading the way, according to a report by candidate screening company Powerchex. Stockbrokerages increased recruitment by 77 per cent between the first and second quarters of this year, and by a massive 317 per cent between the months of [...]
Calls for Lloyd’s of London to widen brokers’ access July 12, 2009 STUART Reid, boss of insurance broking giant Bluefin, has urged Lloyd’s of London to widen access for brokers to its insurance marketplace as part of its strategic review. Reid has said enabling all brokerages to do business with Lloyd’s syndicates, rather than a select group, would allow consumers and businesses around the world to get [...]
Virgin Media launches new HD channels July 12, 2009 Virgin Media will today announce the launch of four new high definition (HD) channels which will soon be available on its TV platform, including the HD debut of Living. The broadband and digital TV provider also named FX, MTV Networks International and National Geographic as the channels its 3.6m customers will be able to receive [...]
Canary Wharf versus the City row is reignited July 12, 2009 THE departure of Japanese bank Nomura from Canary Wharf to the City has reignited the row between the two hubs over where the true heart of the financial sector lies. Nomura is quitting the Isle of Dogs for the new new 525,000 sq ft riverside City complex Watermark Place. But Canary Wharf achieved a coup [...]