Social mobility in the City: Almost one in ten Deloitte staff members received free school meals, as Big Four firm reveals the socio-economic and educational background of its staff March 7, 2016 Big Four accountancy firm Deloitte has today published the socio-economic and educational background information for its staff in a bid to improve social mobility. Findings from the data include that almost one in ten (nine per cent) staff members received free meals while at school and more than half (51 per cent) were the first in [...]
Shares in Old Mutual soar on speculation over potential break-up March 7, 2016 Shares in Old Mutual soared today on news that the company is “considering all options” after speculation that the group would be broken up into four businesses. The savings and investment firm’s stock closed up 6.9 per cent at 192.1p. Old Mutual said last week that it was pursuing a strategic review, as announced when [...]
Metro Bank shares jump on soft float, despite earlier fears over market volatility forced the bank to downgrade its share price March 7, 2016 Metro Bank shares have jumped by 7.5 per cent since their so-called introduction to the London Stock Exchange this morning. The bank had lowered its share price to £20 from £24 previously due to market volatility and a sell off of banking stocks since the beginning of the year. Prices have now mostly recovered however. [...]
Competition and Markets Authority (CMA) delays publication of retail banking review until August March 7, 2016 The Competition and Markets Authority (CMA) has confirmed plans to delay the publication of its long-awaited review into the retail banking market, saying today that the results of the probe will not be published until the end of the summer. In a statement this morning, the CMA put forward more recommendations to help customers understand [...]
Godiva is galloping into growth markets: Chief executive Mohamed Elsarky talks managing growth and high quality March 7, 2016 As Godiva celebrates its 90th anniversary, few would contest the heritage of the Belgian chocolatier. But since Turkish food manufacturer Yildiz Holding acquired the firm from Campbell Soup in 2007, it has been given a new lease of life. Now, chief executive Mohamed Elsarky has his sights on Asia. Since entering the Chinese market in late 2009, nearly 70 stores [...]
Barclays appoints CMC Capital’s Carlo Calabria as chairman of mergers and acquisitions in Europe, the Middle East and Africa March 7, 2016 Barclays has appointed founding partner of CMC Capital Carlo Calabria as chairman for mergers and acquisitions in Europe, the Middle East and Africa (EMEA). Calabria is one of nine new people employed to Barclays' investment banking operations from CMC Capital. "Carlo will work closely with Pier Luigi Colizzi, Head of M&A EMEA, to help accelerate the [...]
FTSE 100 index drops despite Old Mutual’s share price rising and miners making gains March 7, 2016 The FTSE 100 index traded lower this morning, after having opened with volatility following gains last week. The UK's blue-chip index fell 0.63 per cent to 6,160 points in early morning trading. "Investors appear to be slowly starting to drip feed money back in after a turbulent start to the year. As equity markets enjoyed their third [...]
EDF confirms finance director Thomas Piquemal has stepped down over Hinkley Point crisis March 7, 2016 The future of Somerset's massive Hinkley Point nuclear power station was looking even more uncertain this morning, after EDF confirmed one of the top executives involved in the project had resigned, warning it could put the company in financial jeopardy, according to reports. Last night Bloomberg reported finance director Thomas Piquemal had stepped down due to concerns over the project, which is likely [...]
Mulberry names Dyson’s Neil Ritchie finance director suceeding Roger Mather March 7, 2016 Mulberry has named Neil Ritchie as its new finance director. Ritchie is moving from Dyson where he spent 14 years, most recently as global commercial finance chief and succeeds Roger Mather, who revealed he was leaving the fashion retailer last autumn after eight years, Mulberry chief Thierry Andretta said: "We are delighted to welcome Neil to Mulberry. His experience in developing and [...]
Clothing brand Jigsaw denies sale speculation March 7, 2016 British fashion label Jigsaw has denied that it is exploring a sale of the business following reports this weeks that it has held talks with financial advisers. The fashion chain was founded in 1971 by John Robinson, who ran the business with his former wife Bella before handing over the reins to former John Lewis director Peter Ruis [...]