Sainsbury’s boss Mike Coupe misses out on payday perks June 4, 2015 Sainsbury’s chief executive Mike Coupe missed out on an annual bonus last year after the supermarket chain failed to meet sales and profit targets. The retailer’s annual report published yesterday revealed that Coupe’s annual pay package dropped to £1.5m in the year to March, down from £2m the previous year, when he was still commercial [...]
Pets at Home is keeping pooches happy as it posts surge in profits June 4, 2015 Pets at Home yesterday posted a record set of full-year results and said it enjoyed a strong start to the year as owners splashed out more on grooming services and special nutrition products for their pets. Underlying core earnings for the year to 26 March rose 10 per cent to £121m, in line with expectations, [...]
Investors revolt over Morrisons’ ex-chief Dalton Philips’s pay June 4, 2015 Morrisons’ new management pledged to review its pay policies after the supermarket faced a shareholder revolt yesterday over the size of the bonus awarded to its ousted chief executive Dalton Philips. More than a third of shareholders (35.6 per cent) rejected the retailer’s remuneration report, according to proxy voting results revealed at its annual [...]
Smith & Nephew share price tilts south as medical giant pulls hip device June 4, 2015 Medical device manufacturer Smith & Nephew was forced to announce its plans to withdraw one of its hip-replacement systems as it required too many post-operative follow-ups. The 46mm model in question will be withdrawn from its Birmingham Hip Resurfacing system due to concerns it does not meet the standards set by health watchdog, Nice. [...]
Competition probe into Greene King’s Spirit Pub takeover moves on to consultation stage June 4, 2015 Greene King’s proposals to the Competition Market Authority (CMA) regarding its acquisition of the Spirit Pub Company reached consultation stage yesterday. The consultation comes after the regulator raised concerns about the £774m merger shortly after it was announced in May. At the time the authority said the current proposal would “substantially” lessen competition in the [...]
Moneycorp profits up on boom in international payments unit June 4, 2015 Foreign exchange provider Moneycorp increased its gross profits by 26 per cent on the year in the first quarter of 2015, its financial results show today. Its earnings rose from £22.7m in the first three months of 2014 to £28.6m in the same period of this year. Retail growth was relatively subdued, with revenues up five [...]
Passenger numbers are up for EasyJet as summer approaches June 4, 2015 EasyJet yesterday announced a 7.2 per cent rise in passengers for May 2015, compared to May 2014. The budget airline flew 6.4m passengers last month, compared to 6m the year before. Its load factor, the average portion of capacity an airline has filled with travellers, was up to 91.2 per cent, from 89.4 [...]
Wizz Air unveils new routes and fares as passenger numbers soar June 4, 2015 Budget airline Wizz Air announced a 20 per cent rise in passengers for last month, compared to May last year. Passenger numbers were up to 1.6m, from 1.3m last year. This was in part helped by the introduction of two new A320 aircraft, which have 180 seats each. The firm also announced that capacity was [...]
Swiss prosecutor drops HSBC money laundering probe without criminal charge June 4, 2015 HSBC can start to breathe easily – at least when it comes to the money laundering claims. Swiss prosecutors have dropped their investigation into its private bank after reaching a financial settlement that carries no admission of guilt. HSBC has agreed to pay SF40m (£27.8m) to the Genevan authorities investigating alleged money laundering [...]
Morrisons AGM: The best quotes so far June 4, 2015 It might not be quite as explosive at last year's event but the annual general meeting of troubled supermarket Morissons is shaping up to be another lively affair. The best lines so far A shareholder on new chief executive David Potts: “It's nice to hear the new chief executive talking English. The predecessor [Dalton Philips] [...]