KPN irons out E-Plus disposal plan with a tax loss of €3.7bn September 16, 2013 DUTCH telecoms group KPN has struck a deal with Dutch tax authorities to book a loss of about €3.7bn (£3.1bn) on the sale of German unit E-Plus, which it can offset against taxable income in coming years to reduce its tax bill. KPN, the subject of a takeover bid from Carlos Slim’s America Movil, said [...]
Long standing UBM chief plans to stand down September 16, 2013 THE CHIEF executive of events and information group UBM, David Levin, will step down from his post at the end of July 2014. “I feel that it is the right time to look for my next challenge. I look forward to the future and, in the meantime, it is business as usual,” Levin said in [...]
Viewership up for UKTV group September 16, 2013 UKTV, owners of the Dave television channel, reported annual profits of £71m on £262m revenue yesterday. Viewership figures for the network’s channels increased 10 per cent from 2011’s figures, leading to the growth in advertising revenue. “We are committed to building our core channels business, but we are also investing in important new routes to [...]
Flybe clears out top staff September 16, 2013 FLYBE has dispatched with three senior managers as part of its efforts to streamline the business. The loss-making airline, which has already replaced its chief executive and sold its landing slots at Gatwick, said Andrew Strong, managing director of Flybe UK, Mike Rutter, managing director of Flybe Outsourcing Solutions and Mark Chown, director of corporate [...]
Personality of the year September 16, 2013 Mark Carney has been the most talked about central banker for many years, and he’s only been in situ at the Bank for a few weeks. Maybe that makes it hard for the judges to hail him so soon but he has made a big claim to this award. Needless to say there is strong [...]
Business of the year September 16, 2013 There’s been some really first-rate performances from some of the nation’s kargest and best known companies this year, making choosing a winner exceptionally hard. The most surprising entrant perhaps is Ocado, since many in the City had written the internet grocer off after its share listing. Thomas Cook is in there because in 2013 it [...]
Roche snaps up a new chairman from Lufthansa September 16, 2013 ROCHE has poached Lufthansa’s chief executive Christoph Franz to succeed Franz Humer as chairman of its board, filling the top post at a time of change for the world’s biggest maker of cancer drugs. Franz, 53, who has been a member of Roche’s board since 2011, will stand for election at Roche’s annual shareholder meeting [...]
Online retailer The Hut Group sees revenue jump in first half September 16, 2013 THE FOOTWEAR-to-protein shake conglomerate The Hut Group yesterday reported a spike in net revenues for the six months ending June this year. The company, which added 250 new jobs over the last 12 months to take its headcount to 750 employees, reported a thirty per cent jump in revenues from £59.1m a year ago to [...]
Chrysler gears up for float to let investor exit September 16, 2013 US CAR firm Chrysler plans to file documents this week that would allow its minority investor to sell shares in a stock market listing, bringing to a head a battle with majority owner Fiat, which wants to take full control of the business. Italian group Fiat wants to buy the 41.5 per cent stake in [...]
Morgan Stanley venture going ahead with tidal power project September 16, 2013 THE SCOTTISH government said yesterday it has given consent for work to begin on the largest tidal energy project in Europe in Pentland Firth, which separates the Orkney Islands from mainland Scotland. MeyGen, a joint venture between investment bank Morgan Stanley, utility International Power and tidal technology firm Atlantis Resources Corporation, will install the 86-megawatt [...]