France seeks to liberalise draconian Sunday trading laws December 2, 2013 A government commissioned report released on Monday has recommended a partial liberalisation of France's notoriously strict Sunday trading laws. The report, written by former head of La Poste Jean-Paul Bailly recommends increasing the number of Sundays mayors can authorise trading from five to twelve. A review of current laws was also recommended to resolve confusion [...]
Sodexo board unanimously votes founder’s daughter as chairman December 2, 2013 Sophie Bellon is to succeed her father Pierre Bellon as chairman of catering company Sodexo by January 2016. Michel Landel will continue in his role as chief executive. A panel of four board members unanimously ratified the decision on 29 November. The board of directors said in a statement "Through her different functions, she has [...]
SSE to pass on £50 savings to customers before end of financial year December 2, 2013 Energy company SSE has announced it will be passing on savings worth £50 to a typical dual fuel customer. The savings were made possible by the government's announcement of a consultation to reduce the future costs associated with the Energy Company Obligation. William Morris, managing director, retail, said: "We promised our customers that they would [...]
Senior acquires aerospace manufacturer from Privet Capital December 2, 2013 International manufacturing group Senior has acquired Thermal Engineering Holding from Privet Capital. Thermal is an aerospace components manufacturer located in Royston, Hertfordshire. Mark Rollins, Senior's group chief executive, said: Thermal represents an excellent addition to Senior's Aerospace Fluid Systems Division, providing additional capability to the Group in the areas of Hot Forming and Insulation. Thermal's [...]
Rathbone Brothers chief retires as deputy takes over December 2, 2013 Investment management group Rathbone Brothers has said this morning that chief executive officer (CEO) Andy Pomfret will be retiring at the end of February. Current deputy chief executive, Philip Howell, will step into the breach on 1 March. Howell has been with the company since March of this year and was most recently CEO of [...]
Amazon pioneers drones for deliveries December 2, 2013 Online retailer Amazon is testing unmanned drones to deliver products to consumers in record times. Instead of being the preserve of the US military and law enforcement, drones could be making the Christmas delivery rounds within five years according to the company. Amazon chief executive, Jeff Bezos told CBS television's 60 Minutes "We can do [...]
Bordeaux Index reveals cork-popping champagne sales as economy recovers November 29, 2013 In the first ten months of 2013 wine merchant Bordeaux Index sold over £11m worth of champagne, close to double the amount the sold over same period last year. Champagne made up close to 17 per cent of of the company's total sales in 2013 compared to eight per cent for the same period last [...]
UK banking regulator sets out capital standards November 29, 2013 The Prudential Regulation Authority (PRA) announced on Friday that major banks and building societies will be required to have a core capital buffer equivalent to seven per cent of their risk weighted assets from January 2014, as well as comply with a leverage ratio of three per cent. The PRA said in a statement: The [...]
Pearson sells Mergermarket group to BC partners November 29, 2013 Publishing company Pearson has agreed to sell the Mergermarket group to funds advised by BC Partners for £382m, with the transaction expected to be completed by the end of the first quarter of 2014. Mergermarket provides global corporate financial news, intelligence and analysis to firms in 65 different countries. Pearson's chief executive, John Fallon, said: [...]
12 times as many bankers earning €1m in Britain than any other European country November 29, 2013 The European Banking Authority has produced figures that show Britain has 12 times as many bankers earning over €1m (£856,000) than any other country in Europe. More than 3,500 bankers in Europe earned €1m or more last year, up 11 per cent from 2011. Britain accounted for 2,714 of the figure with the next highest, [...]
