UK Oil and Gas Investments share price slips as chairman David Lenigas leaves and chief Stephen Sanderson steps up July 8, 2015 The chairman of the UK firm exploring oil at Horse Hill near Gatwick, known as the "Gatwick gusher", is stepping down. David Lenigas is leaving UK Oil and Gas Investments (UKOG) where he will be replaced by chief executive Stephen Sanderson. "It is my policy to step down from the boards of companies once I believe [...]
Antony Jenkins: His time at Barclays from the Libor scandal to the time he tried to ban free banks July 8, 2015 Barclays today revealed it has fired chief executive Antony Jenkins after three years at the helm, saying the bank needs a new leader, with a new set of skills, to take it into future growth. The move is widely seen as being instigated ahead of John McFarlane's arrival as executive chairman the middle of [...]
Monitise share price plummets as Visa announces plans to cut its stake July 8, 2015 Shares in mobile payments company Monitise plummeted 21 per cent to 7.8p as the market opened this morning, as one of its backers announced plans to cut its stake. In a statement to the stock exchange, Monitise said it had been notified by Visa, which owns 5.3 per cent of the company, that it planned [...]
Good news for housing market: Galliford Try expecting record results again July 8, 2015 The figures Construction group Galliford Try is expecting record results once again, according to a trading update released today. The housebuilder expects pre-tax profits for the full year to the end of June to be in the “upper range” of analysts’ range, while net debt will fall to less than £20m. Completions in its housebuilding arm [...]
SABMiller appoints Domenic De Lorenzo as new finance chief July 8, 2015 SABMiller has appointed Domenic De Lorenzo as its new chief financial officer . De Lorenzo has been acting chief financial officer for the beer giant since February – his permanent appointment was announced in a statement this morning. The company’s chief executive Alan Clark called De Lorenzo an “outstanding candidate”. He has quickly made a positive impact [...]
Barclays share price climbs after board sacks Antony Jenkins in favour of boss with “new set of skills” July 8, 2015 Barclays chief executive Antony Jenkins has been sacked, with the bank's board saying it seeks a leader with "a new set of skills". Jenkins – who some dubbed the "nice guy of banking" – will leave the business on 17 July, when John McFarlane picks up the reins as executive chairman. A search [...]
Sterling strength puts dent in annual results for law firm Freshfields Bruckhaus Deringer July 7, 2015 International law firm Freshfields Bruckhaus Deringer saw revenues increase just one per cent for the year ending 30 April. The London-based legal practice blamed strong currency headwinds for the results, saying today that revenues increased by four per cent on a constant currency basis. Freshfields also reported a drop of one per cent in net [...]
Marks & Spencer AGM: Setback for M&S as clothing sales slide off hanger July 7, 2015 Investors and retail observers allowed themselves a small sigh of relief in April when Marks & Spencer brought 14 consecutive quarters of falling general merchandise sales to a halt. After efforts to improve the quality and style of its clothing and to win back disillusioned customers, it seemed to have broken a spell. [...]
Smiths Group share price dips as Andrew Reynolds Smith set toreplace Philip Bowman July 7, 2015 Engineering company Smiths Group has named Andrew Reynolds Smith, currently chief executive of GKN Automotive, as replacement for outgoing boss Philip Bowman. Reynolds Smith will join the firm as chief executive on 25 September. News of his appointment failed to stoke up enthusiasm among investors, instead pushing shares in the company down by 4.91 per [...]
South Western trains franchise going to tender July 7, 2015 The South Western rail franchise will be put out to tender, it has been announced by the Department for Transport. The franchise is currently run by a subsidiary of transport operator Stagecoach Group – Stagecoach South Western Trains. It had previously been given the franchise by Direct Award negotiations – granted by the government [...]