Axed Olympus boss fears for his safety October 20, 2011 The British chief executive axed from scandal-hit Olympus said yesterday he may seek police protection after passing “new information” to fraud investigators. Japanese giant Olympus has come under pressure from its biggest shareholders to explain hundreds of millions of dollars in controversial payments brought to light by former boss Michael Woodford. The whistle-blower has written [...]
Dutch company beats UK firms to rail tender October 20, 2011 THE Dutch state rail operator has been awarded a contract to run the Greater Anglia rail franchise, meaning that Stagecoach and the Go-Ahead Group will miss out on the lucrative tender. Abellio Great Anglia, a unit of Nederlandse Spoorwegen, will run the franchise across parts of Essex, Norfolk, Cambridgeshire and Sussex, including many of the [...]
Copper output dips at Anglo American October 20, 2011 MINER Anglo American posted a nine per cent drop in third-quarter copper output, blaming lower grades and blizzards in Chile, but said full-year production would be above 2010, thanks to the expansion of Los Bronces. The expansion of the flagship Los Bronces mine in Chile is on track for first production in the fourth quarter, [...]
London 2012 IMAGE OF THE WEEK October 20, 2011 LONDON 2012 | HEROES Richard Whitehead and local hero Scott Moorhouse launch Lloyds TSB’s Paralympic Torch Relay campaign. Between now and the start of the 2012 Olympic and Paralympic Games, City A.M. is publishing its Olympic Image of the Week. We welcome photographs from all sources – sponsors, athletes, local businesses, commuters, local residents – [...]
MWB shows tough 18 months October 20, 2011 Office space and meeting room provider MWB Business Exchange has said revenue in the 18 months to 30 June was £165.2m, compared to £122.4m for the previous 12 months, representing a two per cent drop on an annualised basis. Earnings before interest, tax, depreciation and amortisation fell to £900,000 for the 18 months, compared to [...]
Advertising slump hits Mecom October 20, 2011 European newspaper publisher Mecom has said it expects earnings for the second half of the year to be lower than the same period last year, after its advertising revenues fell three per cent in the third quarter. The group said deteriorating consumer confidence and Eurozone economic concerns were holding back advertising, particularly in the Dutch [...]
Profit and revenue up at Colt October 20, 2011 Information technology firm Colt Group has said that revenues and operating profit rose by 0.6 per cent in the three months to December. Revenues at Colt, which provides telecoms and data services to big businesses, hit €395m in the third quarter, while earnings before interest, tax, depreciation and amortisation rose to €84.3m from €83.3m.
RACEHORSE OWNERS DO THE DOUBLE AT GREEN’S October 20, 2011 IT HAS been two years since Lloyds Bank on Cornhill became the City outpost of Green’s. And to mark the occasion, the restaurant’s co-owner Simon Parker-Bowles threw a “double celebration” for his horse racing associates at the mezzanine Runner Bar. Double, because Parker-Bowles also unveiled the collection of silks donated by his friends: the colours [...]
Pub chief Ian Dyson to exit in high spirits October 20, 2011 IAN DYSON, chief executive of Spirit, the managed pub operator that demerged from Punch Taverns this year, will step down as chief executive on 16 December and hand the reins to his deputy, Mike Tye. The former Marks & Spencer finance chief was parachuted in to run Punch Taverns in September last year and decided [...]
Nestlé outperforms forecasts October 20, 2011 NESTLÉ, the world’s biggest food group, said weakening consumer sentiment in developed markets would make it harder to improve margins, but beat forecasts for the first nine months thanks to emerging markets. Prices for key commodities such as coffee, grains, milk and sugar should remain high despite small recent falls, which will keep pressure on [...]
