Sodexo board unanimously votes founder’s daughter as chairman December 2, 2013 Sophie Bellon is to succeed her father Pierre Bellon as chairman of catering company Sodexo by January 2016. Michel Landel will continue in his role as chief executive. A panel of four board members unanimously ratified the decision on 29 November. The board of directors said in a statement "Through her different functions, she has [...]
Morgan Stanley has identified five big changes that global economies need to make December 2, 2013 Morgan Stanley think that five tough transitions are now necessary for global economies to grow, or as they put it to "embark on a sounder, safer and more sustainable second half". US: From QE to credible forward guidance on interest rates. Japan: From deflation to (moderate) inflation. Europe: From financial fragmentation to a credible banking [...]
British Gas to cut average bill by £53 on back of government energy changes December 2, 2013 British Gas has confirmed that it'll cut its average dual fuel bill by £53 from 1 January. The energy supplier is reducing its household gas and electricity prices by an average of 3.2 per cent, equivalent to £41 off an average annual bill, and up to £53 with the £12 Warm Home Discount scheme rebate. [...]
SSE to pass on £50 savings to customers before end of financial year December 2, 2013 Energy company SSE has announced it will be passing on savings worth £50 to a typical dual fuel customer. The savings were made possible by the government's announcement of a consultation to reduce the future costs associated with the Energy Company Obligation. William Morris, managing director, retail, said: "We promised our customers that they would [...]
Senior acquires aerospace manufacturer from Privet Capital December 2, 2013 International manufacturing group Senior has acquired Thermal Engineering Holding from Privet Capital. Thermal is an aerospace components manufacturer located in Royston, Hertfordshire. Mark Rollins, Senior's group chief executive, said: Thermal represents an excellent addition to Senior's Aerospace Fluid Systems Division, providing additional capability to the Group in the areas of Hot Forming and Insulation. Thermal's [...]
Npower to freeze new prices until spring 2015 December 2, 2013 UK energy supplier Npower says it will freeze its prices until spring 2015, unless wholesale costs increase. Chief executive officer Paul Massara said: "We don’t plan to increase energy prices before Spring 2015, unless there are increases in wholesale energy costs or network charges." The company introduced a planned price rise of 10.4 per cent [...]
Rathbone Brothers chief retires as deputy takes over December 2, 2013 Investment management group Rathbone Brothers has said this morning that chief executive officer (CEO) Andy Pomfret will be retiring at the end of February. Current deputy chief executive, Philip Howell, will step into the breach on 1 March. Howell has been with the company since March of this year and was most recently CEO of [...]
What you need to know before the open – 02/12 December 2, 2013 It's a big week for the UK, with manufacturing, construction and services PMIs for November and, of course, the chancellor's Autumn Statement on Thursday. US markets continue to go from strength to strength, with the S&P 500 hit another record high on Friday. Busyness on the macroeconomic front will be seen more widely, too, [...]
Amazon pioneers drones for deliveries December 2, 2013 Online retailer Amazon is testing unmanned drones to deliver products to consumers in record times. Instead of being the preserve of the US military and law enforcement, drones could be making the Christmas delivery rounds within five years according to the company. Amazon chief executive, Jeff Bezos told CBS television's 60 Minutes "We can do [...]
Osborne’s plan to cut fuel bills December 2, 2013 CHANCELLOR George Osborne has pledged that the government will waive the cost of some green levies currently paid for through energy bills, in a bid to ease political pressure and save the public money. The move is expected to cut energy bills by £50 a year per household, with the cost now met instead through [...]