Genel share price jumps on debt buy-back plan March 18, 2016 Shares in former BP boss Tony Hayward's company jumped today, after the group revealed plans to reduce its debt burden through a partial buy-back of bonds. Genel will carry out a reverse tender offer to the holders of $750m worth of bonds, and it intends to purchase at least $50m of these at face value. It said [...]
Deutsche Borse’s takeover of LSE like “Germany selling BMW to Britain”, says former BCC boss John Longworth March 18, 2016 John Longworth, recently-ousted director general of the British Chamber of Commerce, has slammed the so-called "merger of equals" between Deutsche Borse and LSE, calling on MPs to intervene before the deal goes through. Longworth, who was forced to resign just over a week ago after publicly supporting a Brexit, has warned the move could damage the [...]
Transport for London names Arriva as new operator for London Overground – and here’s what it’s going to do for commuters March 18, 2016 Arriva has pledged to help TfL introduce new trains, modernise stations and run more frequent services as it takes on the new contract to run London Overgound. Arriva will take over from the existing operator LOROL in November, and will support TfL in delivering further improvements under a contract worth £1.5bn. The contract will cover seven and a [...]
You didn’t miss it: Clocks go forward on 27 March 2016 and your iPhone and Android phone will automatically change time – but here’s what to do if it doesn’t March 18, 2016 Did you get caught out by the US' daylight savings change yesterday? The UK has another fortnight to wait for our clocks to "spring forward" to 27 March. The bad news is you might have got up an hour early this weekend. The good news is that when it does eventually happen it will be [...]
US Presidential Election 2016: Do Donald Trump’s economic policies stack up? March 18, 2016 High profile attacks on Mexicans, Muslims, China and the disabled – and sheer disbelief that he could actually become President – have obscured Donald Trump’s economic policy programme. As he stokes up the prospect of more hostility and continues to criticise immigrants, observers could be forgiven for thinking he doesn’t even have one. But his unashamedly reactionary campaign [...]
FastJet slams EasyJet founder Stelios for going public, is “taking legal advice” over letter about contractual relationship March 18, 2016 African airline FastJet has slammed EasyJet founder Sir Stelios Haji-Ioanno for going public with a letter relating to the two business' contractual relationships. The Tanzania-based firm is seeking legal advice, it said, over his "wholly inappropriate" actions. Haji-Ioanna, who helped set up FastJet four years ago and through EasyJet owns 12.6 per cent in the business, [...]
Telecoms giant BT hires former BG, AstraZeneca and Scottish Power finance boss Simon Lowth March 18, 2016 BT has hired BG Group's finance boss Simon Lowth as group finance director, taking over from Tom Chanmugam who is moving over to work on integrating EE into the wider business. Lowth, who is also being made an executive board director, will join on 4 July. He has held a range of roles in major firms, most [...]
City Moves for 18 March 2016 | Who’s switching jobs March 18, 2016 Traidcraft Traidcraft, which fights poverty through trade, has appointed Robin Roth as its new chief executive. Robin will take up the post on 1 October 2016 after he leaves his role as managing director of Germany-based Gepa, Europe’s largest fair trade company. Andy Biggs, Traidcraft’s interim chief executive, will remain with the organisation as chief [...]
Bacon Sarnies and £5,000 cuddles are the way to attract and keep employees March 18, 2016 Most people consider themselves lucky if they get paid on time at the end of the month. Others, however, want a little bit extra to go with their salary, pension and perhaps a contribution to commuting costs. Some companies, according to Glassdoor’s Benefit Review published today, really push the boat out when it comes to pampering [...]
Tenants are set to feel the heat as rents go up for the first time in 2016 March 18, 2016 Tenants are about to be hit by the first rise in rents since the autumn as new tax policies take their toll on landlords. Average rents rose by 0.1 per cent between January and February this year according to the latest buy to let index from Your Move and Reeds Rains. It’s the first increase [...]