New Crossrail boss to be paid £45,000 more than predecessor Simon Wright amid ongoing project troubles November 14, 2018 Incoming Crossrail boss Mark Wild is set to earn £415,000 – a £45,000 increase on the earnings of his predecessor, Simon Wright. Wild, the current managing director of the London Underground, will retain his Transport for London (TfL) salary of £285,000 on top a non-consolidated allowance of £130,000 for his role as Crossrail CEO. He [...]
Flexible offer provider Workspace hit by London property market slowdown November 14, 2018 Flexible office provider Workspace announced a nearly 20 per cent drop in profit before tax as a weakening London property market took its toll. The London-based firm said its profit before tax was £101.6m in the six months ended 30 September, down 18 per cent from £123.7m in the same period last year. The company [...]
Easyjet marks milestone in efforts to get more women piloting jets November 14, 2018 Easyjet has reached a key point in its journey to increase its proportion of female pilots, as it sets a course for one-fifth of its new recruits being women by 2020. Over the past year, 15 per cent of its newly-recruited pilots have been women. In 2015, just six per cent were female. The airline [...]
Fairytale economics will not enchant markets November 14, 2018 In a remarkable break with the economic prudence of the past decade, policymakers in the west are taking their feet off the spending brakes. During the recent midterm elections in the US, President Trump hailed the continuing stream of positive economic data and Democrats’ warnings about the cost of tax cuts failed to cut through. Meanwhile the [...]
Market jitters post-Carillion collapse hit Interserve shares November 14, 2018 Market jitters over the stability of outsourcing firms following the high-profile collapse of Carillion sent Interserve’s share price plummeting this week. The company’s share price was volatile today after falling to the lowest level in more than 30 years on Monday following a statement from joint venture partner Renewi which revealed that Interserve had experienced [...]
Former UBS trader Kweku Adoboli deported from the UK as Home Office officials force him onto flight at Heathrow November 14, 2018 Former UBS rogue trader Kweku Adoboli has been deported from the UK after Home Office officials forced him onto a flight at Heathrow Airport. The 38-year-old, who left Ghana at the age of four and has lived in the UK for 26 years, boarded a Kenya Airways flight to Nairobi, his legal team said. Adoboli was convicted [...]
Smiths Group set to spin off medical arm after sale stopped in September November 14, 2018 Shares in engineer Smiths Group soared on plans to spin off its healthcare unit after a proposed sale to ICU Medical fell through in September. The disposal of Smiths Medical, which was reportedly valued at around £7bn in the ICU deal, will allow the group to focus on its remaining industrial technology operations. Smiths also [...]
Macy’s raises outlook after delivering strong third quarter results November 14, 2018 Macy’s said it is “gaining momentum and delivering results”, after boosting its sales and profit guidance for the holiday period following solid results born out of the booming US economy. The department store chain says like-for-like sales rise by 3.3 per cent in the third quarter, with income more than doubling from $30m (£23.12) to $62m [...]
Dentsu Aegis chief executive Jerry Buhlmann steps down November 14, 2018 Dentsu Aegis Network chief executive Jerry Buhlmann is stepping down after nine years in the role, the company said today. The advertising agency said Buhlmann will formally step down on 31 December, but will continue working in an advisory capacity. He will be replaced by the company’s executive chairman, Tim Andree, who will combine the two [...]
Government caves on fixed-odds betting terminal reform in face of parliamentary backlash November 14, 2018 The government has U-turned on delayed changes to fixed-odds betting terminals (FOBTs), bringing forward a widely called-for cap on stakes to April, after the sports minister resigned over the issue. Shares in gambling companies rallied sharply on the news with GVC up 8.1 per cent, Paddy Power Betfair up 7.5 per cent, William Hill up 2.1 [...]