Treasury director Alison Cottrell hired as chief executive of the Banking Standards Review Council January 13, 2015 Treasury director Alison Cottrell yesterday accepted the challenge of improving bankers’ culture, as she was appointed chief executive of the Banking Standards Review Council (BSRC). Bank bosses have tried to change culture by setting a better tone from the top, but have struggled to get their message heard. For instance, the City watchdog discovered bank traders [...]
Hailo picks up third new chief executive in three months January 13, 2015 TAXI app firm Hailo yesterday appointed its third chief executive in as many months, as the British so-called e-hail firm looks to close the gap on rivals such as Uber and Lyft. The company has drafted in Andrew Pinnington, a former chief operating officer of Carphone Warehouse. He spent 12 years at the British mobile [...]
Fitch fears cut in banks’ aid transparency January 13, 2015 HIDING banks’ emergency support from investors will make it difficult for the market to assess the strength of lenders in trouble, and could lead to extra panic, analysts at Fitch said yesterday. At the end of last year the Bank of England decided that emergency liquidity support for lenders should be covert, rather than publicised. Regulators [...]
Morrisons ousts boss after poor holiday season January 13, 2015 BRITAIN’S embattled grocery sector claimed its first casualty of the year after Morrisons sacked its chief executive Dalton Philips following poor Christmas sales. Shares climbed 4.5 per cent as the City welcomed the prospect of a new boss to revive the supermarket’s fortunes. Morrisons’ incoming chairman Andy Higginson said Philips has “had a good run” [...]
Discounters Aldi and Lidl win Christmas as over half of UK visit their shops January 13, 2015 German discounters were the clear winners in the battle for Christmas sales, after more than half of all UK households shopped at their stores. While families typically treat themselves at Christmas and head to the big four, discounters have grabbed market share with clever ad campaigns and cheap offers on premium items such as champagne. [...]
The runners and riders to take over from Dalton Philips as CEO January 13, 2015 “EXPECT an ex-Tesco employee – there are plenty around,” one analyst joked yesterday when asked who would take over from Dalton Philips as Morrisons boss. After several management changes at Tesco over the last three years, there are certainly a few among the list of potential candidates. One of them is not Philip Clarke, who [...]
Inflation has fallen below target: Should the UK be worried? January 13, 2015 Lower price rises are a boost for the UK but something to be feared in Europe. Why target inflation? Inflation is the increase in average prices in the economy over a period of time – normally a year. It is calculated by looking at a typical basket of goods, and seeing how the price [...]
Greece deflation worsens as vital general election nears January 13, 2015 Inflation has delved deeper into negative figures in Greece, figures released yesterday show. Greek inflation was minus 2.6 per cent as measured by the year-on-year change in the consumer price index, according to data from the Hellenic Statistical Authority. The figure marks a steep drop from November’s figure of minus 1.2 per cent. Greece has now [...]
Dalton Philips wins 2015 CEO sack race: Will Marc Bolland be next across the line? January 13, 2015 So, Dalton Philips was the winner of the 2015 sack race in the end, beating off strong competition from rival-favourite Standard Chartered’s Peter Sands and bagging evens odds for anyone who backed him at Ladbrokes. He said an emotional goodbye to hacks on the results call yesterday morning, causing a few cringes, as both Philips [...]
Grand Crash Auto? Game Digital directors not so smug any more January 13, 2015 Oh how the mighty fall, again. Game Digital had, like a phoenix from the flames, risen from administration three years ago to float on the stock market valued at £340m last year. It became the LSE’s biggest share price riser throughout the year – starting 2015 with shares priced at 75 per cent higher than [...]