US growth and hiring defy global slowdown worries December 3, 2014 Employers across the US are hiring more staff in all industries, Federal Reserve officials said last night. Despite worries about the strength of growth across Asia and Europe, the Fed’s regular Beige Book publication showed a very upbeat recovery in the US. Conditions were so buoyant that labour shortages were reported in some regions, with firms struggling [...]
Walsh is on the grid for F1 December 3, 2014 The former chief executive of drinks giant Diageo is being lined up to be chairman of the Formula One board. If Paul Walsh is appointed, it could signal the beginning of the end of Bernie Ecclestone’s control of the motorsport. Sky News reported that a board meeting is scheduled for next week to discuss replacing [...]
Abercrombie & Fitch feels the pinch December 3, 2014 STRUGGLING clothing retailer Abercrombie & Fitch cut its full-year profit forecast yesterday as higher discounts and efforts to refresh its merchandise by dropping its logo-centric approach failed to attract young customers.
Glynn leaving as Ladbrokes hunts new chief December 3, 2014 GAMBLING firm Ladbrokes announced yesterday it was on the hunt for a new chief executive, with current boss Richard Glynn set to relinquish the role next year. The FTSE 250-listed company said that Glynn’s mandate at Ladbrokes, since his appointment as CEO in April 2010, had been to implement a re-engineering of its operational and [...]
Sweden all set for snap election after Budget row December 3, 2014 Sweden fell into full political collapse last night after a snap election was called by its centre-left government amid a struggle to win backing for its Budget after just two months in office. The minority government, led by Prime Minister Stefan Lofven, failed to find support for its measures earlier this week after the Sweden [...]
Just Eat shares tumble as investors sell large stake December 3, 2014 TAKEAWAY website Just Eat’s shares dived yesterday after investors sold a 7.7 per cent stake in the business, which floated this year. Its stock has climbed since the initial public offering, rising from 260p on their launch in April to a peak of 350p a week ago. But yesterday it tumbled 9.49 per cent to 307p. [...]
CME bolsters GFI bid offer December 3, 2014 US FUTURES market firm CME Group yesterday increased its previously agreed bid for New York-based derivatives broker GFI Group to match compatriot inter-dealer broker BGC Partner’s hostile offer. CME has now raised its cash-and-stock offer to $5.25 per share to match BGC’s all-cash tender offer for the 86.5 per cent of GFI that it does [...]
Wikipedia founder Jimmy Wales to debut The People’s Operator on market December 3, 2014 Commercial mobile network The People’s Operator (TPO) has raised £20m ahead of its listing on Aim tomorrow, which has attracted strong interest from institutional investors such as Aviva, JP Morgan and Allianz. The company, led by Wikipedia founder Jimmy Wales, plans to use the funds raised to expand internationally. TPO recently signed a contract [...]
Brewin’s profit slashed by IT upgrade fail December 3, 2014 WEALTH manager Brewin Dolphin’s pre-tax profits dived by 70 per cent in the past year, the firm reported yesterday. A £12.1m IT project writedown contributed to the poor figures – pre-tax profits came in at £8.6m, down from £28.4m in the previous 12-month period. It had planned to roll out a new software system to [...]
Gatwick chair Sir Roy McNulty in complaint about Heathrow-funded campaign group December 3, 2014 Gatwick airport chairman Sir Roy McNulty has written to the Airports Commission to complain about a campaign group funded by Heathrow, which he claims is made to look like a grassroots operation. The Back Heathrow group has come in for heavy criticism after it emerged that a series of glossy leaflets, delivered to homes in [...]