Firstgroup set to appoint new chairman December 5, 2013 FIRSTGROUP is set to hire Aviva chairman John McFarlane to take the same role at the transport group, replacing Martin Gilbert. FirstGroup is expected to make an announcement today, according to Sky News. Gilbert said he would step down following First’s fundraising in May. He’s been at the firm since its 1995 foundation.
Car sales up in Britain for 21st month in a row December 5, 2013 BRITS bought seven per cent more new cars in November than they did a year ago, industry figures showed yesterday, in the latest sign that the car market is racing. New car registrations rose to 159,581 units in the month, according to the Society of Motor Manufacturers and Traders. The pace accelerated from a four [...]
Deutsche Bank set to scale back commodity unit December 5, 2013 DEUTSCHE Bank pulled the plug on its global commodities trading business yesterday, cutting 200 jobs as it becomes the first major bank to exit the once lucrative sector due to toughening regulations and diminished profits. Germany’s largest bank, which was one of the top-five financial players in commodities, will cease energy, agriculture, base metals, coal [...]
Blockbuster end looms nearer as more shops go December 5, 2013 BLOCKBUSTER’S administrator yesterday blamed business rates for contributing to the film rental chain’s demise, as it warned that all of the DVD rental chain’s 153 remaining stores may be closed after failing to find a buyer. “While the difficulties faced by Blockbuster are not solely due to the burden of business rates the group was [...]
Scardino takes to Twitter as the site’s newest board member December 5, 2013 TWITTER has named Marjorie Scardino, former chief executive of publishing company Pearson, to its board following criticism that it lacked diversity in the top ranks of the company. The addition of Scardino, who is also a former board member of phone maker Nokia, expands the Twitter board to eight members and puts a woman on [...]
London tech firms double in three years December 5, 2013 THE NUMBER of tech and digital companies in London has ballooned 76 per cent in the three years to 2012, while jobs in the industry are up 16.6 per cent, figures out today showed. Tech firms now employ more than half a million people in the capital in 88,125 companies, and drive 27 per cent [...]
Royal Bank of Canada boss to retire December 5, 2013 ROYAL Bank of Canada chief executive Gordon Nixon will step down next summer after 13 years at the helm of Canada’s largest bank, RBC said yesterday as it announced a stronger-than-expected quarterly profit. RBC’s retail banking head, Dave McKay, will take over in a move that analysts said was expected, just not so soon.
Expansion costs turn profits at Mulberry sour December 5, 2013 PROFITS at Mulberry slumped by more than a quarter in the first half as the luxury retailer continued to invest in driving international expansion. The British handbag and clothing brand still has a relatively small presence overseas compared to some of its larger rivals, like Burberry, and has been pushing ahead with growth in key [...]
Bottom Line: Overseas is the only place for luxury to grow December 5, 2013 IN THE UK, Mulberry is usually mentioned in the same breath as Burberry, with both brands attracting big name stars to their catwalk shows and campaigns, and copycat handbags rife on the high street. But the comparison is somewhat unfair. Burberry – with a market cap of £6.5bn and 206 stores (excluding concessions) worldwide – [...]
EasyJet profits trigger £6.4m payout for boss December 5, 2013 PAY for EasyJet’s top staff doubled last year as the airline beat targets for soaring profits and punctuality. Carolyn McCall was awarded a total of £6.4m, including £4.6m in long-term share awards and a bonus of £1.1m, EasyJet’s annual report showed yesterday. Her salary will rise from £665,000 to £681,000 next year. Finance boss Chris [...]
