Government agrees record £13bn sale of former Northern Rock mortgages as George Osborne says taxpayers will actually make a profit out of the bailout November 13, 2015 The government has agreed a major deal to sell off £13bn-worth of mortgages, acquired during the financial crisis as Northern Rock crumbled. The mortgages are being sold by UK Asset Resolution (UKAR) to Cerberus, in what is the largest ever financial asset sale by a government in Europe. There will be no changes to the terms and conditions [...]
Liz Murdoch joins Jimmy Choo board November 13, 2015 Elisabeth Murdoch, former chief executive of production giant Shine Group and daughter of media tycoon Rupert, is joining the board of luxury footwear firm Jimmy Choo. Murdoch, who stepped down from the helm of the firm she founded a few years after it was bought out by her father, starts as non-executive director today. Shine Group [...]
Marks and Spencer, Carlsberg, Young & Co Brewery: Best of the Brokers for 13 November 2015 November 13, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com MARKS AND SPENCER RBC Capital Markets liked what they saw at Marks & Spencer’s summer season 2016 clothing preview so much, they made the retailer RBC’s “top pick” with a target price of 700p. The broker said he was encouraged M&S was [...]
Rolls-Royce and miners put the brakes on FTSE 100 index – London Report November 13, 2015 A massive fall in Rolls-Royce stocks and continuing problems in the mining sector yesterday hit the blue-chip FTSE 100 index. The index fell 1.88 per cent to 6,178.68 points. Rolls-Royce was the biggest casualty of the day, tumbling 19.57 per cent to 536.50p after warning profits will be at the lower end of expectations due [...]
Why the work-life balance is redundant: Employers will feel the commercial benefits if staff are freer November 13, 2015 More than two-fifths of UK employees feel they don’t have a good balance between their work and personal lives, according to research conducted by global management consultancy Hay Group. And worse, only half believe that their employer is sensitive to the need to balance home and work. So what can companies do to ensure [...]
Fewer FTSE 250 executives took a pay rise this year but bonuses are still 120 per cent of salary according to Deloitte report November 13, 2015 FTSE 250 “are once again demonstrating restraint” in their salary awards, in response to investor pressure. This year 38 per cent of chief executives and 29 per cent of executive directors received no pay rise, up from last year when 30 per cent and 27 per cent respectively had no salary increase, according to a Deloittereport, [...]
New survey finds more teenagers in London want to work in banking and financial services November 13, 2015 Teenagers are increasingly likely to want to work in financial services, according to a new poll from Skills London, a career expo for students. The survey found that banking was the fourth most-popular career choice among 16-year-olds, trailing only medicine, teaching and law. In the same poll last year, banking failed to make the top [...]
MPs call Kids Company’s grip on government “staggering” and warn it “must never happen again” November 13, 2015 An influential parliamentary committee has slammed the government over its relationship with Kids Company and warned that similar cases “must never happen again”. In a new report out today, the Public Accounts Committee says it is “staggering” that the government gave over £40m to the charity over the past 13 years and “still has no [...]
Will schoolboy errors in an invitation to attend the Independent Schools Show deter parents from the expensive route? November 13, 2015 Correct use of grammar is something upon which most attendees at the Independent Schools Show this weekend will place high value. It would seem, however, that the rules drilled into our nation’s youth are thrown out of the window once they grow up and enter the world of public relations. The glaring misuse of an [...]
EE boss Olaf Swantee: Hacking activity has increased since TalkTalk attack came to light November 12, 2015 It's not just ironing out the details of the coming takeover from British telecom giant BT, scheduled for March next year, that’s keeping EE chief executive Olaf Swantee busy. The mobile operator EE, – created in a 50:50 joint venture between Deutsche Telekom and Orange SA in 2010 – has had to fend off an increased [...]