Afren’s future hangs in balance after Luxembourg suspension July 19, 2015 Oil firm Afren is facing an uncertain future as shareholders prepare to vote on the proposed financial restructuring of the company. The group is due to meet next week in order to establish its next move, having suffered a series of setbacks over the past 12 months. Trading on the London Stock Exchange [...]
Anglo American lowers the bar for chief executive Mark Cutifani July 19, 2015 Mining group Anglo American has lowered the bar at which chief executive Mark Cutifani reaches his performance targets, a controversial move as shares in the company this month fell to a 12-year low. Cutifani, who was paid £3.7m last year, makes around half of his yearly take-home pay through a long-term incentive plan (LTIP) based [...]
Oxford Street flagship John Lewis home unit to reopen after £14m makeover July 19, 2015 After eight months of closure and a £14m makeover, John Lewis’ home department at its flagship store is set to reopen to the public. The Oxford Street department store will open the doors to its updated home section in September, having added several new features including a “rug gallery” exclusive to the store. John Lewis [...]
Channel David Brent in City’s street guitar sale July 19, 2015 WERE you that kid at school who always brought their guitar to show off in class? Chances are you’ve tested out the ones that have been popping up around the Square Mile this month as part of the City of London Festival. Now it’s really time to channel David Brent, as the instruments are being [...]
Village People? No, just a fun run July 19, 2015 MEN and women in uniform caused a stir in Bermondsey yesterday when they gathered for a 5k fun run celebrating emergency service workers. The run raised funds for public service charities including The Fire Fighters Charity. The Tunnel 2 Towers run, an annual event supported by emergency service industry workers, saw so many uniformed through [...]
Ladbrokes eyes up a quick move for Gala Coral July 19, 2015 Ladbrokes could strike a deal with online bingo company Gala Coral as early as this week, creating a high-street and internet gambling empire. Ladbrokes, valued at £1.2bn, is expected to issue new shares to buy Gala, which is owned by a collective of private equity investors including Apollo Global Management, Candover Investments and Cerberus [...]
Gambling gateway XLMedia sees big surge in half year revenues July 19, 2015 DIGITAL marketing company XLMedia has produced an 83 per cent jump in half year revenues and said it was on track to deliver full year numbers in line with expectations. The Aim-listed firm, which runs websites designed to lure online gamblers to betting sites, said revenues rose to at least $36.4m (£23.2m) for the six [...]
City Moves for 20 July 2015 | Who’s switching jobs July 19, 2015 Valad Europe The real estate investment management firm has appointed Claire Treacy as chief financial officer. She was previously head of tax and risk at Valad. Before joining, Treacy was a senior tax manager in KPMG’s real estate group, specialising in European fund structuring. PwC Stephen Soper has been appointed senior pensions adviser in the [...]
Redundancy payouts decline as pressure to cut costs eases July 19, 2015 Redundancy payments have fallen to their lowest level since the recession, according to new figures published today. Redundancy payouts to workers totalled £3.5bn in the 12 months ending April 2015, down 10 per cent on the year before, commercial law firm EMW said. The number of payments has also dropped 10 per cent from 284,000 [...]
Upbeat Brits keen to splash holiday cash July 19, 2015 Confident Brits are preparing to splash out more while on holiday this year, according to survey figures published yesterday. Of over 2,000 holidaymakers surveyed by Sainsbury’s Travel Money, 33 per cent said they were planning to spend more abroad this summer, compared to 12 per cent who said they would spend less. Travel agents had [...]
