Starbucks hires Pizza Hut boss to run UK chain October 21, 2013 STARBUCKS has hired Pizza Hut boss Mark Fox to run its UK business. The US coffee chain announced yesterday that Fox, who has headed Pizza Hut UK delivery service since 2009, will become the UK managing director of Starbucks from 6 January next year. The 44-year-old, who replaces Kris Engskov, was promoted earlier this year [...]
US investor swoops on West End theatre company Ambassador October 21, 2013 US BUYOUT firm Providence Equity Partners yesterday made its UK debut after taking control of the theatre group behind a string of West End hits, including The Rocky Horror Show and West Side Story. Providence, which until yesterday did not have a current UK investment, has bought a controlling stake in Ambassador Theatre Group from [...]
Grangemouth still shut as staff reject pay plan October 21, 2013 THE FUTURE of the Grangemouth oil refinery was hanging in the balance last night after half of the workforce rejected pay changes that have been painted as make-or-break by the site’s owner. Ineos, which claims the plant is losing millions of pounds a day, said at the weekend that it would only reopen the refinery [...]
Ex-UBS banker wanted in US is arrested in Italy October 21, 2013 A FORMER top executive at Swiss bank UBS wanted in the US for allegedly helping wealthy Americans avoid paying tax was arrested in Italy at the weekend, the Bologna police said yesterday. The US declared Raoul Weil a fugitive in early 2009 after the former head of UBS’s wealth management business failed to surrender to [...]
3i stakes claim to industrial consultancy October 21, 2013 THE UK’S oldest private equity firm 3i made a foray into the buyout market yesterday, buying a 55 per cent stake in management consultancy company JMJ Associates. The deal, which has a $175m (£108m) enterprise value, will see 3i take a stake alongside management. JMJ has a host of businesses units dotted throughout the world, [...]
Bank switching sees little rise in first month October 21, 2013 THE PAYMENTS Council reveals figures for the first four weeks under a new current account switching scheme today, with only a small boost registered in comparison to the same few weeks last year. The new switching scheme, which began in mid-September, allows people to move their current account to another bank within seven days. However, [...]
Insolvencies down on recovery October 21, 2013 THE ECONOMIC recovery and ultra-low interest rates are keeping insolvencies low, as Experian data today shows the fifth consecutive monthly fall. A total of 1,609 firms became insolvent in September, a rate of 0.07 per cent – down from 0.08 per cent or 1,679 in the same month last year. Large firms, with over 501 staff, [...]
Texas Instruments warns over weaker revenue in second half October 21, 2013 TEXAS Instruments last night revealed forecasts for unexpectedly low fourth-quarter revenue, underscoring concerns about spotty demand for chips for cars, appliances, computers and industrial products and sending its shares lower. The firm said revenue fell to $3.24bn in the third quarter from $3.39bn a year earlier. In the fourth quarter, revenue will range from $2.86bn [...]
Desktop users fall as shoppers move to mobile October 21, 2013 THE NUMBER of Britons searching for goods on their desktops has dwindled in the past year as tablet ownership booms and more consumers shop from the comfort of their sofa. Retail searches on desktop computers were down by 10 per cent in the third quarter compared with the same time last year, according to data [...]
Apple’s market share slips as tablets boom October 21, 2013 APPLE will reveal its latest iPad lineup tonight, with new iPads and iPad Minis expected. But despite its fresh models the firm’s market share of the tablet space is slipping amid huge growth in the market. The technology giant sold 14.6m iPads in its third quarter ending 29 June, a 14 per cent drop from [...]
