Landlord of Broadgate Estate in talks with Singapore over stake August 21, 2013 THE BROADGATE Estate, home to thousands of City workers, is in line for a new landlord after Singapore’s sovereign wealth fund GIC emerged as frontrunner to buy a stake in the campus. The 15 building estate, home to Swiss bank UBS, is being sold by US private equity giant Blackstone, which co-owns the estate through [...]
iPad sales drop behind in China August 21, 2013 APPLE’S iPad is losing market share to local rivals in the Chinese tablet computer market, according to figures released yesterday. Figures from market research firm IDC show the firm sold 1.5m tablets in the second quarter of 2013, giving it a market share of 28 per cent. This is a sharp drop on the 49 per [...]
HP revenues continue to fall August 21, 2013 HEWLETT-PACKARD yesterday replaced Dave Donatelli with Bill Veghte at the helm of its second-largest business division, reassigning the star executive to a new role identifying potential tech acquisitions The computer giant also reported a larger-than-expected eight per cent slide in third quarter revenues to $27.2bn (£17.3bn), as PC sales continued to slide amid the global [...]
Manning sentenced to 35 years in jail August 21, 2013 US SOLDIER Bradley Manning was yesterday sentenced to 35 years in a military prison for turning over more than 700,000 classified files to WikiLeaks in the biggest breach of secret data in the nation’s history. Military parole rules could allow Manning to be out of prison in seven years, his lawyer said.
Vestas ousts its chief executive as losses mount August 21, 2013 TROUBLED wind farm manufacturer Vestas axed its chief executive yesterday after he struggled to stem losses or win back investors. Shares in the Danish company jumped five per cent after it revealed that Ditlev Engel will leave immediately, to be replaced by Ericsson veteran Anders Runevad on 1 September. Engel, who had been with the [...]
Hong Kong Exchanges offers top role at LME to Martin Pratt August 21, 2013 HONG Kong Exchanges and Clearing has offered the job of London Metal Exchange (LME) chief executive to veteran broker Martin Pratt, according to two sources familiar with the matter, it emerged yesterday. Pratt, who is chief operating officer at non-ferrous metals futures broker Triland Metals, would replace outgoing chief Martin Abbott, who announced plans to [...]
Virgin Money hires directors August 21, 2013 CHALLENGER bank Virgin Money yesterday hired a new chief financial officer as well as a banking boss to expand its credit card business and enter the current account market. Michele Green will join as director of banking in October, leaving credit card firm MBNA. She will build Virgin Money’s credit card business as well as [...]
Lean back and read the latest City tome on women at the top August 21, 2013 HOT ON the heels of Facebook chief operating officer Sheryl Sandberg’s highly publicised book Lean In, a London businesswoman is about to publish her own autobiographical and instructional tome – Heels of Steel. Founder of networking site We Are The City, Vanessa Vallely – a former employee of Barclays, Merrill Lynch and Royal Bank of [...]
City Hall goes camp for lunchtime in the sun August 21, 2013 City Hall turned camp yesterday afternoon as a pop-up caravan site was temporarily erected by the Thames – just in time for hungry City workers to go glamping with their sandwiches.
African Barrick Gold hires new chief executive August 21, 2013 TANZANIA-FOCUSED miner African Barrick Gold yesterday announced that it has appointed industry veteran Bradley A Gordon as its new chief executive in an attempt to turn around the company’s fortunes. The former Intrepid Mines chief executive replaces Greg Hawkins – who the company said has resigned to pursue other opportunities – with immediate effect. The [...]
