Radicals admit plan to blow up LSE and Mayor’s offices February 1, 2012 FOUR terrorists who claimed they were inspired by Al-Qaeda yesterday pleaded guilty to planning bomb attacks targeting the London Stock Exchange, as well as other City landmarks. Mohammed Chowdhury, Shah Rahman, Gurukanth Desai and Abdul Miah, who were arrested in December 2010, all admitted yesterday to engaging in conduct in preparation for acts of terrorism. [...]
Brewin fees drop as clients sit on hands February 1, 2012 THE GLOOM in investment management deepened yesterday when Brewin Dolphin reported a slump in commissions, as clients stayed on the sidelines amid volatile markets. Brewin said first quarter commission income fell 24.4 per cent year-on-year to £17.5m. The firm said the figure had continued to fall into January but other income has held up. The [...]
Home Retail hires Walden as Argos boss February 1, 2012 HOME Retail Group has named former Best Buy executive John Walden as the new boss of its struggling Argos business. He takes over as managing director of the chain next month and will report to group chief executive Terry Duddy, who had taken on the role temporarily after the departure of Sara Weller last April. [...]
Black market sales are the main culprit February 1, 2012 PAIN in Spain. That is the cause of lower sales at Imperial Tobacco. The Spaniards, hurt by austerity and high unemployment, have decided to kick the cancer sticks. The quintessential cafe culture moment – a strong black coffee and cigarette – is a thing of the past. Or is it? We doubt it somehow. While [...]
Imperial Tobacco takings fall as Spain woes persist February 1, 2012 IMPERIAL TOBACCO said yesterday its cigarette volumes fell seven per cent in the final quarter of 2011 after sales were hit by a tough Spanish market, Syrian sanctions and destocking in Ukraine and the US. The world’s fourth-biggest cigarette maker, whose brands include Davidoff and Gauloises, said sales were down by one per cent in [...]
Shop group pins hopes on US internet expert February 1, 2012 ARGOS’ incoming chief executive John Walden is a little known figure on this side of the Atlantic, but his extensive multi-channel experience in the US has caught the attention of executives at Home Retail Group. Walden, 52, kicked-off his retail career in the 1990s as chief operating officer of online supermarket pioneer Peabody before joining [...]
Tesco moves UK exec who sold shares February 1, 2012 SUPERMARKET giant Tesco has moved Bob Robbins from his role as UK chief operating officer three weeks after it was revealed he sold stock ahead of a profit warning, according to an internal announcement yesterday. The announcement said Robbins, who has held the UK COO role since March 2011, will work directly for group chief [...]
Peacocks administrator receives six bids to rescue the collapsed retailer February 1, 2012 PEACOCKS administrator KPMG has received six bids to rescue the group out of administration. The first round of bidding closed on Monday, and it is understood suitors for the Cardiff-based business will now be asked to provide further details ahead of a round of final offers next Monday. Private equity firms KKR and OpCapita were [...]
Mystery firm signs term sheet to buy BMI Baby February 1, 2012 BMI has signed a term sheet to sell its regional offshoot BMI Baby to a mystery UK company. BMI said the firms had “mutually agreed” to keep the potential buyer and value of the sale under wraps. The deal has come as a surprise to rival airlines, including German outfit INTRO Aviation, which said it [...]
REFORM IS THE STORY OF BANKING BESTSELLER February 1, 2012 EVER WONDERED how former BP and Lehman Brothers spinner Andrew Gowers ended up as a strategic consultant to the Association for Financial Markets in Europe? The appointment of the one-time FT editor last November was a “seamless transition”, says AFME’s CEO Simon Lewis, from Gowers editing the body’s collection of essays on reforming Europe’s financial [...]