Vestas ousts its chief executive as losses mount August 21, 2013 TROUBLED wind farm manufacturer Vestas axed its chief executive yesterday after he struggled to stem losses or win back investors. Shares in the Danish company jumped five per cent after it revealed that Ditlev Engel will leave immediately, to be replaced by Ericsson veteran Anders Runevad on 1 September. Engel, who had been with the [...]
Hong Kong Exchanges offers top role at LME to Martin Pratt August 21, 2013 HONG Kong Exchanges and Clearing has offered the job of London Metal Exchange (LME) chief executive to veteran broker Martin Pratt, according to two sources familiar with the matter, it emerged yesterday. Pratt, who is chief operating officer at non-ferrous metals futures broker Triland Metals, would replace outgoing chief Martin Abbott, who announced plans to [...]
Virgin Money hires directors August 21, 2013 CHALLENGER bank Virgin Money yesterday hired a new chief financial officer as well as a banking boss to expand its credit card business and enter the current account market. Michele Green will join as director of banking in October, leaving credit card firm MBNA. She will build Virgin Money’s credit card business as well as [...]
Lean back and read the latest City tome on women at the top August 21, 2013 HOT ON the heels of Facebook chief operating officer Sheryl Sandberg’s highly publicised book Lean In, a London businesswoman is about to publish her own autobiographical and instructional tome – Heels of Steel. Founder of networking site We Are The City, Vanessa Vallely – a former employee of Barclays, Merrill Lynch and Royal Bank of [...]
City Hall goes camp for lunchtime in the sun August 21, 2013 City Hall turned camp yesterday afternoon as a pop-up caravan site was temporarily erected by the Thames – just in time for hungry City workers to go glamping with their sandwiches.
African Barrick Gold hires new chief executive August 21, 2013 TANZANIA-FOCUSED miner African Barrick Gold yesterday announced that it has appointed industry veteran Bradley A Gordon as its new chief executive in an attempt to turn around the company’s fortunes. The former Intrepid Mines chief executive replaces Greg Hawkins – who the company said has resigned to pursue other opportunities – with immediate effect. The [...]
IntercontinentalExchange picks banks as plots Euronext listing August 21, 2013 INTERCONTINENTALEXCHANGE (ICE) has hired three banks to advise on the listing of Euronext, whose sale is crucial to its $8.2bn (£5.2bn) takeover of NYSE Euronext. ABN Amro and existing advisers on the ICE/NYSE deal, Societe Generale and JP Morgan, will act as global coordinators on the flotation of the combined Paris, Lisbon, Brussels and Amsterdam [...]
STV to resume dividend after revenues return August 21, 2013 BROADCASTING group STV plans to reinstate its dividend after reporting rising revenues and falling debts for the first six months of the year. The firm, which last paid a dividend in 2006, said yesterday its revenues rose eight per cent to £51.2m, while pre-tax profits increased one per cent to £6.7m. Chief executive Rob Woodward [...]
Heineken and Carlsberg say it’s hard to sell more beer in Europe August 21, 2013 BREWING giants Heineken and Carlsberg left investors flat yesterday by posting worse than expected beer sales, particularly in the developed markets of Europe. Dutch brewer Heineken said profits in emerging markets now make up half of group earnings, though growth in new countries failed to prevent a one per cent fall in organic revenues, which [...]
Housemovers heat up Aga sales as chief exec cheers rising orders August 21, 2013 A PICK-UP in the level of housing transactions has helped to warm Aga Rangemaster’s sales in the second quarter, according to the cooker-maker’s chief executive. William McGrath said after a slow start to the year, it had seen recent trading improve, with cooker orders up eight per cent at the half year. Revenues edged up [...]