WPP appoints firm to find Martin Sorrell’s successor April 17, 2018 WPP has hired executive search firm Russell Reynolds Associates to find a permanent replacement for Martin Sorrell. Sorrell dramatically resigned as chief executive of the company that he had led for 32 years on Saturday night following WPP announcing that it was investigating him over allegations of “personal misconduct.” After his departure, WPP confirmed that [...]
Aston Martin lines up seven top banks to manage £4bn float April 17, 2018 Aston Martin has appointed seven banks to act as bookrunners on its £4bn stock market flotation, according to reports today. Rumours of the luxury car brand floating in London surfaced in February, though any final decision would come down to the company’s Italian private equity owner Investindustrial. Today, Sky News reported that shareholders had lined [...]
Trevor Steven: Why Mohamed Salah deserves PFA Player of the Year award ahead of Kevin De Bruyne – and what next for Manchester City? April 17, 2018 Like the debate over the relative merits of Lionel Messi and Cristiano Ronaldo, there is little to choose between Mohamed Salah and Kevin De Bruyne, the two favourites to receive the PFA Player of the Year award on Sunday, and to an extent it is a question of personal preference. But my vote would go [...]
Lloyds Banking Group to cut 305 jobs and close 49 branches across the UK as customers switch to digital banking April 17, 2018 Lloyds Banking Group is cutting 305 jobs as part of plans to close 49 branches across the UK, as customers increasingly opt for digital banking rather than going into branches. The cuts are predominantly across its branch network, and will affect some other central functions too. Read more: Former Lloyds Banking Group boss wins £1.35m [...]
London Marathon 2018: Why Nike turned to 3D printing to make the lightest possible trainer for Eliud Kipchoge and Mo Farah April 17, 2018 The American track and field coach and co-founder of Nike Bill Bowerman summed up his work by telling athletes: “God determines how fast you’re going to run; I can only help with the mechanics.” Olympic champion Eliud Kipchoge will be the latest beneficiary of those mechanics at this weekend’s London Marathon when he pulls on [...]
International Monetary Fund (IMF) upgrades UK growth forecast but warns global trade system could be “torn apart” April 17, 2018 The International Monetary Fund (IMF) today upgraded its forecasts for the UK economy amid stronger global growth, but warned that the world’s trading system is “in danger of being torn apart” by a trade war. UK GDP will grow by 1.6 per cent this year, the forecasts said, a 0.1 percentage point upgrade from its [...]
AA share price rises after setting aside £1m to fight £225m legal battle against sacked boss Bob MacKenzie April 17, 2018 The AA has set aside £1m to fight a legal battle with its former boss that threatens to wipe out three-quarters of the firm’s annual profits. In its full-year results announcement today the breakdown giant said it had not made provisions for £225m of damages claimed by Bob MacKenzie. AA boss Simon Breakwell insisted the [...]
Goldman Sachs profits smash analyst expectations thanks to first-quarter volatility April 17, 2018 Goldman Sachs today reported profits far above analyst expectations as revenues came in more than $1bn higher than predicted on the back of equity market volatility. The figures The investment bank reported net revenues of $10.04bn (£7bn) and net earnings of $2.83bn for the first quarter ended 31 March. Earnings per common share were $6.95, [...]
Bank of England cryptocurrency: More than half of Brits wouldn’t buy digital cash introduced by the Bank April 17, 2018 While cryptocurrency companies are hopeful that government acceptance could buoy public sentiment for the controversial digital assets, new research reveals more than half of Brits would not support the Bank of England (BoE) in launching its own cryptocurrency linked to the pound. A third of people said a government crackdown on rules for cryptocurrencies like [...]
Aluminium price climbs to near seven-year high on fears over Rusal supplies April 17, 2018 Aluminium rose to nearly a seven-year high this morning as the fallout of US sanctions against Russia’s Rusal continue to fuel fears of tightening supply. Benchmark aluminium on the London Metal Exchange (LME) climbed to a high of $2,435 a tonne, a more than two per cent rise and its highest price since September 2011. [...]