Small car, big noise June 2, 2009 WHEN I covered the Geneva Motor Show back in early March, I said I wasn’t a fan of the shape of the new Polo. Now in its fifth generation, it looks like a new Golf from the front but with the Lupo attached to the rear. I just don’t get it. I want to get [...]
Ex-Vodafone boss paid to return home June 2, 2009 VODAFONE’S former chief executive Arun Sarin was paid £500,000 to return to his native US when he left the company, according to the company’s annual report. In total, the former boss – who left Vodafone in July 2008 but remained as a consultant until February – picked up a payout of £8.1m in his final [...]
Investors rap Tomkins on pay June 2, 2009 ENGINEERING firm Tomkins was last night left reeling after nearly 40 per cent of investors voted against the firm’s annual remuneration report. Just 61 per cent of shareholders approved the remuneration policy, according to figures released yesterday, with many understood to have been outraged by the company’s rewards system. Chief executive Jim Nicol was handed [...]
FSA fees to rise as City watchdog bares its teeth June 2, 2009 THE Financial Services Authority (FSA) expects the fees it levies on regulated companies this year to rise by 35.8 per cent to £435.5m, just under its initial prediction of £437.7m. The increase is targeted at arming the City watchdog with sufficient resources to heighten its level of supervision, after it was accused of failing to [...]
BEST OF THE BROKERS June 2, 2009 LADBROKESBarclays Capital is not convinced that Ladbroke’s overseas investment will give a particularly high return compared to peer William Hill’s online expansion. However, the broker believes the group is well-run and cash generative, with a high dividend yield. It initiated coverage of the stock with an “equal weight” rating. KCOM GROUPKCOM’s results show strong cost [...]
Real close to sealing 56m Kaka transfer June 2, 2009 CHELSEA’S pursuit of AC Milan superstar Kaka appeared to be fading fast last night as Real Madrid closed in on a staggering £56m deal for the coveted Brazil playmaker. Blues owner Roman Abramovich had hoped the former Fifa World Player of the Year would follow Carlo Ancelotti to Stamford Bridge, having hired the ex-AC Milan [...]
Floral firm Laura Ashley sales get a spring time lift from in-store discounts June 2, 2009 FASHION and homewares retailer Laura Ashley said yesterday its total UK retail sales in the first 17 weeks of the current financial year rose 8.4 per cent, aided by promotional activity and an increase in retail space. “Despite the challenging economic environment, the board remains cautiously optimistic for the current year,” the company said. Like-for-like [...]
Labour market deteriorates further but slower pace fuels hope of recovery June 2, 2009 THE labour market continued to deteriorate in May, but the pace of decline slowed for a third month and experts said there are signs of recovery. Permanent placements fell for the fourteenth consecutive month, but at the slowest pace since last July, while temporary billings declined at the weakest rate since September. But the monthly [...]
City steal march on bigger rivals by signing 12m Barry June 2, 2009 ENGLAND midfielder Gareth Barry last night insisted joining Manchester City had been an easy decision after sealing a surprise £12m switch from Aston Villa. The 28-year-old ended a year of uncertainty over his future by signing a five-year contract with the big-spending Eastlands outfit that will see his wages almost double to £90,000-a-week. Barry was [...]
Talvivaara plans a share issue to expand resources June 2, 2009 ZINC miner Talvivaara plans to issue over 20m shares, equal to about 10 per cent of current shares, to finance a plant expansion, it said yesterday. The 22.28m shares would be worth £84m based on yesterday’s share price. The shares will be placed with new and existing institutional shareholders so the firm can boost production [...]
