Sainsbury’s chair faces two jobs row July 15, 2009 J SAINSBURY chairman Sir Philip Hampton yesterday faced questions over his £396,000 pay packet and whether he had enough time to be the chairman of both Sainsbury’s and Royal Bank of Scotland (RBS). One shareholder at the retail giant’s annual meeting called on Hampton to halve his pay as long as he did both jobs. [...]
Microsoft topples Google as consumers’ top brand July 15, 2009 SOFTWARE giant Microsoft has reclaimed its title as the number one UK brand in the UK, overthrowing rival Google, which claimed the crown last year. Bill Gates’ firm moved from second to first place in the 12th annual Superbrands survey, dealing its latest blow in the ongoing battle between the firms for industry dominance. In [...]
SHAREHOLDER VIEWS: WHAT SHOULD SAINSBURY’S DO DIFFERENTLY? July 15, 2009 BERNIE FIELDING“I think they could do more to boost the share price. Despite all the updates and improved trading, it still hasn’t lifted the market value by much. Tesco and Morrisons have achieved that. I don’t understand why Sainsbury’s is lagging and I want answers.” DIANA DENNIS“I think under the current conditions Sainsbury’s have done [...]
CITY MOVES WHO’S SWITCHING JOBS July 15, 2009 GE CapitalJames Fenner has been named as the new Head of capital markets for GE Capital in EMEA. Based in London, he will be responsible for all strategic lease and loan syndication activities and will oversee securitisation and alternative funding strategies, in partnership with GE’s Treasury function, for GE Capital businesses in the region. Fenner [...]
Blacks confident on refinancing July 15, 2009 Outdoor goods retailer Blacks Leisure Group said yesterday it was confident of securing new funds crucial for its turnaround plan, as it reported a further fall in sales. The firm said it was in an “advanced state of negotiation” with Lloyds Banking Group for the renewal of its existing working capital facility of £35m. In [...]
Retail sales fall to 2001 levels July 15, 2009 Retail sales per square foot have fallen to levels last seen in 2001, according to the business advisory firm Deloitte. While consumer spending has weakened in the recession, it is the relentless growth in capacity that has dramatically brought returns per foot down, Deloitte said. It estimates that the industry has added more than 50m [...]
Trump lawsuit thrown out July 15, 2009 A New Jersey judge yesterday dismissed a lawsuit for defamation filed by Donald Trump against an author whose book gave an estimate of the real estate developer’s wealth much lower than Trump’s own. Superior Court Judge Michele Fox rejected arguments by Trump’s lawyers that he had been the victim of “actual malice”.
Cattles’ loans are extended July 15, 2009 EMBATTLED sub-prime lender Cattles said yesterday it extended the maturity of its £500m banking facilities until the end of the year, although it still has other crippling debts. The business said its syndicate of 22 banks, led by Royal Bank of Scotland, had agreed to give it breathing space by extending the facility, which was [...]
Walker set to give go-ahead for tighter rules for directors July 15, 2009 SIR David Walker will put forward plans for a major renovation of boardroom culture among UK financial institutions today, with the publication of his review of corporate governance. Walker is expected to set out a series of radical proposals, which will include subjecting company directors to mandatory annual elections and the introduction of powerful risk [...]
Northern Foods jumps as warm weather boosts barbecue sales July 15, 2009 FOOD manufacturer Northern Foods yesterday reported solid first-quarter trade, boosted by warm weather, and said it was optimistic it could beat full-year profit targets, lifting its shares by 12.2 per cent to 61.7p. Northern Foods, which makes food products and ready meals for retailers as diverse as Marks & Spencer and Aldi as well as [...]