Why everyone should stop panicking about Berkeley Group boss Tony Pidgley’s £23m bonus August 11, 2015 Yesterday’s revelation that Tony Pidgley – founder, chairman and general grandfather figure at housebuilding giant Berkeley Group – is about to net himself £23m-odd in bonus payouts has created something of a storm. There’s no denying it’s a vast sum: it puts Pidgley above Wayne Rooney in the pay scale, making him the second [...]
Milking it: Morrisons launches premium brand to “directly” support dairy farmers August 11, 2015 Morrisons is looking to herd off criticism from dairy farmers over the price of its milk by launching a new brand that it claims will “directly” support the trade. Morrisons Milk for Farmers will launch this autumn, sitting alongside the supermarket's standard range. This brand however will cost 10p per litre more than [...]
Game Digital puts profit warning behind it despite slowdown in console sales August 11, 2015 It has been almost two years since the launch of Sony’s latest console, the PlayStation 4 (PS4) and Microsoft’s Xbox One and after the initial sale frenzy, demand is now cooling, according to Game Digital. The video games retailer said revenues at its hardware division were hit by a near 20 per cent drop in [...]
Google’s new chief Sundar Pichai: Three things you need to know about the top boss after Alphabet restructure August 11, 2015 In a shock move, Google has announced it will become just a part of a new corporate holding company named Alphabet, which will encompass everything from artificial intelligence company Deep Mind to restaurant reviews site Zagat. Read more: Alphabet soup? Here's what the new Google looks like The company added that with co-founders Sergey Brin and [...]
Neil Woodford’s Patient Capital Trust pays off as it invests three-quarters of IPO funds August 11, 2015 Given his success at Invesco, the decision by star fund manager Neil Woodford launch a solo venture was always going to have a risk attached – but it looks like it paid off, after his new fund, Woodford Patient Capital Trust, posted results showing it had already invested more than three quarters of the £800m [...]
Serco share price jumps as losses beat expectations August 11, 2015 Shares in troubled outsourcer jumped nearly three per cent to 129.2p in early trading after it displayed Churchillian levels of stoicism… The figures In a statement this morning, Serco said revenues in the six months to the end of June fell to £1.8bn, from £2bn this time last year, while its operating profit fell to a £24.8m loss [...]
Farming unions and Farmers for Action to meet Morrisons as supermarket price wars drive down milk prices August 11, 2015 Dairy farmer groups are meeting with Morrisons bosses today as the two groups attempt to solve the ongoing dispute over milk prices. The meeting – which a Morrisons spokeswoman played down as “a cup of tea and a chat between a couple of people” – comes on the back of a week-long demonstration by [...]
Ladbrokes reports a 44 per cent slide in pre-tax profits due to regulation and lower win margin August 11, 2015 Looks like Labrokes' winning streak is over, after profits tumbled 44 per cent over regulatory changes and a lower gross win margin. The figures Pre-tax profits at Ladbrokes fell 44 per cent to £24.7m in the six months to June, from £44m in the first half of 2014. Earnings per share were dropped 44.2 per cent to 2.4p [...]
Google share price jumps 5pc after shakeup leaving it part of “Alphabet” with Sundar Pichai taking over from Larry Page August 11, 2015 “G is for Google.” But that’s about to change, as Google announced restructuring plans leaving the search giant as a subsidiary of new parent company Alphabet. The new company will function as a "collection of companies" with Google as the largest one. The idea behind the new organisation is to slim down Google, with Alphabet [...]
Tory plans for elected mayors to open franchise door for Rotala August 11, 2015 Bus operator Rotala yesterday said a fresh government initiative to refranchise provincial bus services would open the door for further growth at the group. The company, which reported a six per cent fall in revenues, said Tory government plans to give directly elected mayors power over local transport will put a wave of new bus [...]