AstraZeneca chief executive questions UK’s commitment to treating cancer June 3, 2015 AstraZeneca chief executive Pascal Soriot has warned that the UK is lagging behind in cancer care innovation, after the government's drugs approval body rejected a new ovarian cancer drug already used in France and Germany as being too expensive. Read more: Why only Scottish patients are getting the best new drugs on the NHS “How can [...]
Dixons Carphone ups full-year profit forecast after smashing expectation with fourth quarter sales June 3, 2015 The figures Sales at Dixons Carphone were up nine per cent in the fourth quarter to 2 May, higher than the four per cent analysts had predicted. The mobile and electronics retailer has upped its profit outlook for the year as a result, saying it will be "slightly above" its previous guidance of £355m to £375m. [...]
Peter Long named Royal Mail chairman succeeding Donald Brydon June 3, 2015 Royal Mail has named Peter Long as chairman, succeeding Donald Brydon who announced he was stepping down at the start of the year. The co-chief executive of travel company TUI, Long will take over from Brydon, who has been with the postal firm for six years, in September. "Long brings with him a proven track record in [...]
Stock exchange reshuffle puts Inmarsat in FTSE 100 June 2, 2015 Troubled banknote printer De La Rue is likely to tumble out of the FTSE 250 less than a week after it posted a £20m decline in profits during the last financial year. The London Stock Exchange (LSE) yesterday announced several potential changes to its indices, with supermarket group Morrisons expected to move from the [...]
LondonMetric embarks on £26m shopping spree at Marks & Spencer June 2, 2015 LondonMetric said yesterday that it has snapped up a portfolio of five M&S Simply Food stores for £26m, as it boosts its exposure to the booming convenience market. The FTSE 250 retail and distribution warehouse speciality said the acquisitions come on top of a recent letting of 11,300 sq ft to M&S for 20 years [...]
HSBC hires two new female non exec directors, Irene Lee and Pauline van der Meer Mohr June 2, 2015 Embattled banking giant HSBC appointed a pair of new experienced business names to its board yesterday, in a move that could bolster its governance, after a series of bruising reputational scandals. Irene Lee is an expert in Asia-Pacific finance, and has served on the boards of finance firms including ING Australia and Hang Seng Bank. [...]
Synergy suffers from unhealthy pre-tax profits June 2, 2015 UK-BASED health outsourcing firm Synergy recorded slowing pre-tax profits for the year ending 29 March. The company recorded revenue growth of 7.5 per cent year-on-year to £408.8m, up from £380.5m a year earlier, although pre-tax profits inched up by just 1.6 per cent during the period. Last week, investors were left disappointed after a planned [...]
Can a currency save an economy? What the UK example teaches us June 2, 2015 Much has been said of global currency wars in the past few years. If there has been such a war, then arguably the UK fired the opening shot with a trade-weighted depreciation in the value of the pound of nearly 30 per cent between the summer of 2007 and the end of 2008. This was [...]
Has Greek brinkmanship in debt negotiations damaged its position in the single currency? June 2, 2015 Konstantinos Venetis, an economist at Lombard Street Research, says Yes Taking negotiations down to the wire in the hope of preventing a “Gr-accident” has actually brought one closer. Greece’s state coffers dried up, the banking system suffered severe strain, and the economy relapsed into recession. Confidence is low and elevated uncertainty has increased the risk [...]
Now American Apparel has taken out a restraining order against Dov Charney June 2, 2015 It's a special case when the company you founded takes out a restraining order against you – but then again, American Apparel's relationship with founder and former boss Dov Charney is a special case. The company confirmed in a regulatory filing today that it had been granted a restraining order against Charney, who was dramatically [...]