Careers advice at first sight as the London Stock Exchange hosts Treasury speed mentoring event December 12, 2016 It might not be well-known for its matchmaking skills, but the Treasury is having a go at revamping a certain dating industry staple. As part of its Women in Finance Charter, the government department, along with Women Ahead, will today be running a speed mentoring event. Here, 40 financial sector leaders will impart their wisdom to 40 women at [...]
Sky seeks to calm shareholder concerns over Fox bid as board independence comes under fire December 11, 2016 Broadcasting giant Sky is vying to convince investors that 21st Century Fox’s £10.75 per share takeover bid is not undervaluing the company. Sky revealed last Friday it had reached an agreement with Fox that values the business at £18.5bn – but some shareholders criticised the approach over the weekend. One big name City shareholder told City [...]
Lingerie brand Agent Provocateur gets a refit amid accounting issues December 11, 2016 Chris Woodhouse has stepped down as chairman of Agent Provocateur amid the lingerie brand’s ongoing inquiry into “accounting issues”. The upmarket label, which has counted supermodel Kate Moss among its roster, has handed the reins to Ian Lobley, a partner at Agent Provocateur’s controlling shareholder 3i Group, it was first reported last night by Sky [...]
Project Prosecco: Virgin Media exploring budget broadband December 11, 2016 Virgin Media is working on secret plans to launch a new budget broadband brand. Under the codename Project Prosecco, Virgin Media is considering expanding the coverage of its cable network next year with an offering that would put it squarely in competition with discount provider TalkTalk. Plans for the budget proposition, understood to still be at [...]
TalkTalk hits out at ultrafast fibre network critics December 11, 2016 Broadband provider TalkTalk has shot back at rival BT over claims it would not be able to build its own fibre broadband network in the UK. A report by Analysys Mason, commissioned by BT, and submitted to regulator Ofcom found the development of a third ultrafast broadband network in the UK was “highly unlikely”. However, [...]
Specsaver founder Dame Mary Perkins and her husband have their payout cut in half December 11, 2016 Despite Specsavers’ solid earnings last year, Dame Mary Perkins and her husband had their payout cut in half. Perkins started the optical chain in 1984 and became Britain's first billionaire businesswoman. It was revealed she and her husband Doug had their dividend cut to £17.4m last year compared to £36.8m the year before in recently filed [...]
Imperial Brands must invest in new, safer heating products to compete with tobacco giants December 11, 2016 Imperial Tobacco's failure to invest in safe new products could hit future profits, City analysts have said. The tobacco giant's reluctance to develop reduced risk materials could impact on long term growth after rival firms have poured billions into developing safer cigarette technology. British American Tobacco (BAT), Philip Morris International (PMI) and Japan Tobacco International (JTI) all [...]
Happiest place on earth no more: Shareholders in Euro Disney battle with Walt Disney over licensing fees December 11, 2016 Walt Disney has charged Euro Disney nearly €1bn in licensing fees over the past decade, and minority shareholders have had enough, saying the American entertainment giant is preventing the owner of Disneyland Paris from making a profit. Reports show Charity Investment Asset Management (CIAM), a French hedge fund, said Walt Disney scooped €930m (£780m) in royalties allowing Euro Disney [...]
Stoke Newington High Street flooded by burst water main December 11, 2016 A burst water main has caused major flooding in Stoke Newington, the third major flooding incident in the past week. Some 350 people had to be evacuated from the area and more than 150 properties have been affected in the area around Northwold junction. The flooding began at around midday and London Fire Brigade say [...]
Tata Sons urges shareholders to purge ousted chairman Cyrus Mistry from their boards December 11, 2016 Tata Sons has taken another swipe at ousted former chairman Cyrus Mistry, urging the shareholders of several Tata Group companies to remove him from their boards. In a four-page letter, Tata Sons, which is the holding company of the $100bn (£79bn) conglomerate, said his presence as chairman at some firms "is likely to lead to [...]