Accountants hit as FTSE 100 skimps on bills September 6, 2010 DESPITE increasing fees during 2010, top accountants in the UK have reported a three per cent decline in the amount they collected from FTSE 100 clients, new research shows. During the 2009 to 2010 financial year, FTSE 100 companies paid £891.9m in both audit and non-audit fees, marking a drop from the previous year when [...]
JOHNSTON PRESS FOCUSES ON DIGITAL September 6, 2010 JOHNSTON Press hired Henry Faure Walker as digital and business development director yesterday, to replace Lori Cunningham. Walker will be responsible for expanding digital activities at the media group. The company, which owns 300 local newspapers, set up a paywall around six regional websites last November but dropped the system in April.
Glaxo drug to face the axe September 6, 2010 GLAXOSMITHKLINE’S diabetes drug Avandia should be pulled from sale because of concerns about heart risks, British drug regulators said yesterday ahead of a special European meeting on the drug’s safety. The strong line from safety experts in the drugmaker’s home market is a fresh blow to a medicine that was once Glaxo’s second biggest seller [...]
Tesco director Lucy Neville Rolfe joins the board of ITV September 6, 2010 TESCO’S corporate and legal affairs director Lucy Neville-Rolfe yesterday became the first woman to join the board of broadcaster ITV following Archie Norman’s arrival as chairman earlier this year. Neville-Rolfe, one of Tesco’s most senior figures, has been at the retailer for the past 13 years. Prior to that, she spent years in Whitehall, including [...]
Avandia is not material September 6, 2010 SENIOR doctors’ proposal to withdraw Avandia on safety grounds, which remains subject to an EU-wide final decision this month, would have little impact on the valuation of Glaxo. The market has long assumed declining future revenues and contribution to earnings from the diabetes drug. The peak year for sales was back in 2007 when it [...]
Focus on C&W WW heats up September 6, 2010 CABLE & Wireless Worldwide (C&WW) yesterday surged ahead on the London Stock Exchange, buoyed by talk of a potential takeover bid in the offing from Eastern rival Singapore Telecom. Shares in the telecoms group, demerged earlier this year from the consumer-focused arm Cable & Wireless Communications, bounced to as high as 78p in early trading, [...]
Unicredit puts heat on Libyan investors September 6, 2010 ITALY’S biggest bank UniCredit will ask Libyan investors to show they are independent shareholders, chief executive Alessandro Profumo said yesterday, after their stakes triggered concern among some politicians. Libya’s sovereign wealth fund took a 2.075 per cent stake in UniCredit in late July, joining the Central Bank of Libya as a top shareholder. The two [...]
ANALYST VIEWS: HOW LIKELY September 6, 2010 TOM GIDLEY-KITCHIN | CHARLES STANLEY We see C&WW’s networks and business as being attractive to a number of potential acquirers but we had not expected there would be any bid interest for another 12 months or so and that may well still be the case. WILL DRAPER | EXECUTION NOBLE A bid is likely eventually, [...]
DAUGHTERS JOIN DADS FOR GALA FUNDRAISER September 6, 2010 IF THE remaining doubters needed proof that the City has opened its arms wide to the talents and potential of the fairer sex, look no further. The Mansion House yesterday evening played host to hundreds of guests for the latest gala fundraiser for Lord Mayor Nick Anstee’s charity Appeal: a dinner specifically for the fathers [...]
End of pre-Budget report September 6, 2010 Britain will publish economic forecasts and a fiscal statement later this year, the Treasury said yesterday, but the event is expected to be narrower in scope than usual and is unlikely to change the policy outlook. The statement is also unlikely to fall on the same day as the Conservative-Liberal Democrat coalition government’s spending review [...]
