Miner Rio Tinto transfers CEO Sam Walsh and CFO Chris Lynch to open-ended contracts October 23, 2014 Mining company Rio Tinto has extended the tenure of its chief executive Sam Walsh and chief financial officer Chris Lynch, the firm announced yesterday. Walsh, whose contract was due to end on 31 December 2015, with a break clause from 31 October 2014, and Lynch, whose contract was due to end on 28 February 2017, [...]
Volution Group results strong for first post-IPO report October 23, 2014 Fan manufacturer Volution Group has reported an 18 per cent increase in revenue during 2014, from £102m to £121m. Of this total, the company’s ventilation segment posted revenue of £101m, up 23 per cent on last year. The firm also reported a pre-tax loss of £15.5m, compared with a £4.2m loss in 2013. These [...]
Southend Airport could take off for Stobart Group with 50 airlines circling October 23, 2014 Newly restructured Stobart Group is in talks with up to 50 airlines to begin flying out of the firm’s Southend airport, according to chief executive Andrew Tinkler. The company, which yesterday published its results for the six months ended August 2014, restructured earlier this year to focus on its aviation and energy divisions. The aviation [...]
Total appoints new chairman and chief exec October 22, 2014 OIL FIRM Total has named two successors for its chief executive and chairman Christophe de Margerie, who died in a plane crash in Moscow on Monday night. Following a meeting of the company’s governance and ethics committee yesterday, Total announced that it had separated the role into two positions, and named Thierry Desmarest as chairman [...]
Petropavlovsk boss Hambro says more sales may be on the cards October 22, 2014 GOLD mining company Petropavlovsk may have to sell more assets in a bid to cut costs, the company’s chairman Peter Hambro said yesterday. He made the comments while discussing the firm’s results for the third quarter of 2014, which saw production fall to 150,100oz of gold from 204,400oz this time last year. London-listed Petropavlovsk attributed [...]
UK manufacturing stays strong despite decline in job numbers October 21, 2014 MANUFACTURING output in the UK is now higher than it was in the late 1970s, according to the Office for National Statistics (ONS), scotching perceptions that Britain has lost its manufacturing prowess. Manufacturing output had managed to increase despite a decline in its share of the economy and falling job numbers, the statistics agency said [...]
Premier Inn to open German hotel by 2015 October 21, 2014 THE UK hotel and restaurant group Whitbread, owner of Costa and Premier Inn, announced yesterday that it was expanding into Germany after a successful first half of 2014. Its share price dipped slightly, by 0.66 per cent, after the firm revealed that it had purchased a 200-room hotel in Frankfurt to trial Premier Inns in [...]
BAE takes flight in cyber security sector with $233m bid for SilverSky October 21, 2014 Defence firm BAE Systems is looking to expand into the cyber security sector with a $232.5m (£144.2m) bid for SilverSky. SilverSky, owned by US company Perimeter Internetworking, is a cloud-based security services provider with 5,500 customers in the financial services, retail, healthcare, energy, critical infrastructure and manufacturing sectors. It is focused mainly on the US [...]
Car insurance price decline is over, says AA October 21, 2014 CAR INSURANCE premiums rose in the third quarter of 2014 for the first time since 2012, according to the latest AA British Insurance Premium Index. The index revealed that the Shoparound average quote for a comprehensive car insurance, which is an average of the five cheapest premiums found for a nationwide basket of “customers”, increased by [...]
Total mourns loss of chief exec Christophe de Margerie in plane crash tragedy October 21, 2014 French oil company Total yesterday confirmed the death of its chairman and chief executive Christophe de Margerie “with deep regret and great sadness”. De Margerie, 63, was killed at Vnukovo Airport in Moscow on Monday night, when the private plane he was on collided with a snow plough. Three crew members on the plane also [...]
