No more fatbergs: Thames Water finance chief to retire as it says it will name a new chief executive “shortly” April 26, 2016 He's spent more than quarter of a century in chief finance officer roles – but today Thames Water said its finance chief is planning to step down. No more fatbergs for him, then… Stuart Siddall, who has been the company's finance chief since 2011, but who has been in CFO roles since 1990, will retire [...]
EU referendum: Election strategist Lynton Crosby warns over Remain complacency as latest poll shows increase in Brexit support April 26, 2016 Sir Lynton Crosby has cautioned Remain supporters against "complacency" ahead of the EU referendum. The election strategist made his warning after an ORB poll, out this morning, showed a slight increase in support for a so-called Brexit during President Barack Obama's visit. But while 51 per cent of those polled said they supported remaining in the [...]
Nokia is getting into wearables with €170m deal for Withings April 26, 2016 Nokia is making a move into wearables, announcing plans to buy up french tech company Withings. The now mobile-free Nokia (after selling that part to Microsoft), is zoning in on the world of digital health tracking technology with the €170m deal. "We have said consistently that digital health was an area of strategic interest to Nokia, [...]
ScottishPower has just been hit with a huge £18m fine over bad customer service April 26, 2016 ScottishPower has become the latest utilities provider to be hit with a huge fine over poor customer service. The company said this morning it had reached a deal with Ofgem, the utilities watchdog, to pay £18m – £15m of which will go to vulnerable customers, and £3m of which will go to charity. In a [...]
Whitbread’s expansion drive continues as Costa Coffee and Premier Inn sales jump April 26, 2016 Costa Coffee and Premier Inn owner Whitbread has promised more expansion is on the way for the food, beverage and hotel chain as it posted improved profits in its full year results out this morning. Investors had clearly had their morning dose of caffeine as they bought up Whitbread with vigour on Tuesday morning, sending it up 2.97 per [...]
EU referendum: Countrywide has issued a warning over “political and economic uncertainty” caused by Brexit April 26, 2016 Countrywide has warned that the housing market will slow this quarter, in the wake of "political and economic uncertainty" ahead of the country going to polls to vote on the EU referendum. The firm, which this morning revealed a surge in activity during the first three months of the year ahead of the government's stamp duty [...]
Profits collapse at oil giant BP, but shares rise as it avoids a loss in first quarter April 26, 2016 Profits at BP fell by 79 per cent in the first quarter of the year, as the oil major's cost-cutting drive helped it beat analysts' expectations and maintain its dividend payout. BP's share price rose 4.5 per cent today to 376p this morning as investors were relieved that it stayed in the black. The oil giant said it would carry [...]
Henley Camland strikes major deal with Land Securities for part of the Ebbsfleet Eastern Quarry garden city April 26, 2016 Private equity firm Henley has bought a major component of the Ebbsfleet scheme, one of the UK's largest residential schemes, from Land Securities. Fresh from selling more than 500 plots to Taylor Wimpey yesterday, Land Securities has today revealed another deal, selling two "village" sites at the Eastern Quarry, which have capacity for around 4,700 homes, [...]
No tears for Boohoo as profits and revenues soar April 26, 2016 Boohoo has reported a surge in profits and revenues for the full year as the fashion etailer woos even more customers worldwide. But clearly investors were hoping for more – Boohoo's share price fell 3.7 per cent on the open. The figures Revenues were up 40 per cent in the year to 29 February, climbing to [...]
BHS administration “more significant than Woolworth’s” as cost to taxpayer stacks up April 26, 2016 The collapse of BHS could be "more significant than Woolworths" – and the business is unlikely to survive in any meaningful form, experts have told City A.M. Parent company Retail Acquisitions called in administrators Duff & Phelps yesterday afternoon, a year after buying the debt-laden business from Sir Philip Green for £1. Managing directors Phil [...]