Elliott demands Kabel explains Vodafone deal January 13, 2015 US HEDGE fund titan Elliott International yesterday demanded German cable television operator Kabel Deutschland – in which Elliott has a 13 per cent stake – explain a special auditor’s report concerning Vodafone’s €8bn (£5.3bn) takeover of the German firm in June. The US investment giant has called for an extraordinary general meeting for the purpose [...]
Harriet Green lost out on final bonus before Thomas Cook exit January 13, 2015 Former Thomas Cook chief executive Harriet Green saw her pay packet plummet by 73 per cent in her final year in the job after coming up short of her targets, it came to light yesterday. Before her high-profile exit from Thomas Cook in November, Green was unable to pick up her bonus for the 2014, [...]
Game blames stiff competition for drop in sales over Christmas January 13, 2015 BRITISH video games retailer Game Digital yesterday cited tough competition as the reason for its decline in sales over the Christmas period. The company said sales dropped 6.7 per cent in the 11 weeks ending 10 January. It announced the results after the market closed yesterday. It stated that “promotional activity” across the market had inflated [...]
E.On risks price freeze regret as it cuts gas bills January 13, 2015 THE PRESSURE is now on the UK’s energy providers, with E.On breaking ranks and cutting its gas prices for customers. The company yesterday reduced its standard gas price by an average of 3.5 per cent, which it said was equivalent to £24 off an annual gas bill. The cut follows an 11 per cent drop in [...]
London market cools after 2014 housing boom January 13, 2015 LONDON’S house prices led last year’s nation-wide boom, figures released by the Office for National Statistics yesterday revealed. UK house prices climbed by 10 per cent in the 12 months to November, down from 10.4 per cent in the year to October. The figure was boosted by price growth in the capital which was 15.3 [...]
Sainsbury’s to slash 500 jobs January 13, 2015 SAINSBURY’S is to cut 500 head office jobs as part of a plan set out by its new chief executive to save hundreds of millions of pounds in costs. Mike Coupe pledged in November to save £500m over the next three years in order to fund a £150m price offensive against its retail rivals. The [...]
Waterstones eyes Blinkbox January 13, 2015 BRITISH book retailer Waterstones has entered into exclusive negotiations with Tesco over the possible acquisition of Blinkbox Books as it looks to expand its footprint in the e-books market, it emerged yesterday. Tesco established Blinkbox Books out of its acquisition of e-book service Mobcast for £4.5m in 2012. The supermarket giant is now looking to [...]
Treasury director Alison Cottrell hired as chief executive of the Banking Standards Review Council January 13, 2015 Treasury director Alison Cottrell yesterday accepted the challenge of improving bankers’ culture, as she was appointed chief executive of the Banking Standards Review Council (BSRC). Bank bosses have tried to change culture by setting a better tone from the top, but have struggled to get their message heard. For instance, the City watchdog discovered bank traders [...]
Hailo picks up third new chief executive in three months January 13, 2015 TAXI app firm Hailo yesterday appointed its third chief executive in as many months, as the British so-called e-hail firm looks to close the gap on rivals such as Uber and Lyft. The company has drafted in Andrew Pinnington, a former chief operating officer of Carphone Warehouse. He spent 12 years at the British mobile [...]
Fitch fears cut in banks’ aid transparency January 13, 2015 HIDING banks’ emergency support from investors will make it difficult for the market to assess the strength of lenders in trouble, and could lead to extra panic, analysts at Fitch said yesterday. At the end of last year the Bank of England decided that emergency liquidity support for lenders should be covert, rather than publicised. Regulators [...]
