John Menzies profits are hit by turbulence at London Heathrow March 10, 2015 AIRPORT services and logistics firm John Menzies said yesterday that operational difficulties at London Heathrow airport will impact its first-half figures this year. Newspaper and magazine like-for-like sales in the distribution division in 2014 were down three per cent. However, the Orbital marketing services acquired in 2012 reported strong growth. The aviation division enjoyed stronger [...]
Uber teams up with UN in a bid to recruit one million women drivers March 10, 2015 Uber has announced plans to create one million jobs for women as drivers by 2020, as it looks to bounce back from negative publicity received in recent months. The taxi app company has partnered with the United Nations to accelerate economic opportunities for women and help them to become more independent. UN Women executive director [...]
MPs warn breaking up banks may be best for competition March 10, 2015 BREAKING up the banks is one of the remedies for a lack of competition in the market, MPs on the Treasury Select Committee (TSC) have suggested. “Millions of consumers and small businesses have been getting a poor deal for decades because of a lack of effective competition and genuine choice in banking,” the committee said [...]
Watchdog hits payday lenders March 10, 2015 PAYDAY lenders are failing customers in arrears, the City watchdog warned yesterday, telling the firms to clean up their act. The Financial Conduct Authority (FCA) took over regulating the sector in April 2014, and is reviewing firms’ practices. Regulators say they have found evidence that firms have given unaffordable loans, then offered inappropriate repayment plans. [...]
Verisk Analytics to enter energy market with Wood Mackenzie takeover March 10, 2015 Data firms Verisk Analytics and Wood Mackenzie are to come together in a £1.85bn deal announced yesterday. Verisk, which specialises in analysis of the insurance market, will purchase Wood Mackenzie from private equity house Hellman & Friedman and other shareholders, using a combination of around $2bn (£1.33bn) in debt and up to $800m in equity. [...]
AstraZeneca chief executive Pascal Soriot gets £3.5m after fending off Pfizer March 10, 2015 The head of drugs giant AstraZeneca was given a £3.5m payday last year after he fought off a hostile takeover bid from Pfizer. Pascal Soriot’s pay packet was up from £3.3m the previous year and consisted of an annual bonus of £1.9m, equivalent to 170 per cent of his base salary, according to the firm’s [...]
Colliers sees no end in sight for market bull run March 10, 2015 REAL Estate advisory company Colliers International said yesterday there was no end in sight to the property market’s bull run. But the timing of interest rate hikes and geopolitical risks could threaten the current cycle. Companies such as Land Securities have questioned how long the current upturn in the commercial market can last, following a [...]
Canada’s Ivanhoe Cambridge snaps up City property for £170m March 10, 2015 CANADIAN pension fund Ivanhoe Cambridge yesterday bolstered its presence in the UK after snapping up 3 Minster Court, off Fenchurch Street, in the City for £170m. The real estate arm of Caisse de Depot et Placement du Quebec – one of Canada’s leading fund managers – has been on the hunt for prime assets to [...]
Property giant Hammerson uses new virtual walkthrough tech to lure buyers March 10, 2015 Anglo-French property giant Hammerson has teamed up with a property tech startup to map all its shopping centres and retail parks in the UK by using virtual Google street view-style technology. Virtual Walkthrough was set up three years ago by James Morris-Manuel, formerly of Cushman & Wakefield, and Antony Waldorf, a serial entrepreneur who sold [...]
Tesco recovers from 18 months of slow sales March 10, 2015 TESCO has posted its strongest performance in 18 months, with sales up 1.1 per cent compared with 2014, according to industry data for the 12 weeks ending 1 March. The latest grocery share figures from Kantar Worldpanel suggest that the major overhaul of strategy at the UK’s biggest retailer by new chief executive Dave Lewis [...]
