Abercrombie & Fitch share price rises as top boss Michael Jeffries resigns December 9, 2014 Controversial Abercrombie & Fitch boss Michael Jeffries resigned yesterday, sending the clothing company’s share price up by around eight per cent. The struggling teen fashion giant, which has suffered disappointing sales in recent years, has hired an executive search firm to find a replacement chief executive after Jeffries’ resignation, which is effective immediately. In a [...]
Damon Williams and Alex Khein appointed co-CEOs of RBC Global Asset Management as John Montalbano steps down December 9, 2014 John Montalbano has stepped down as chief executive of RBC Global Asset Management (RBC GAM) after six years, the company announced today. He will be replaced by Damon Williams and Alex Khein as co-CEOs and will act as adviser to the new top bosses when the need arises. In a statement yesterday, the group, which [...]
Profits up at Trafigura as firm hands top executives $885m December 8, 2014 COMMODITIES broker Trafigura announced a 14 per cent rise in gross profit to $2.045bn yesterday, alongside a 13 per cent rise in core earnings. The group also revealed it has handed almost $900m back to top executives in the form of share buyback schemes in the past year. The detail was revealed in Trafigura’s annual [...]
Jardine Lloyd Thompson buys up Towergate’s air insurance book December 8, 2014 TOWERGATE, the struggling specialist insurance broker, has made the first in what is likely to be a series of disposals as the group looks to raise cash. The broker sold Hayward Aviation, which arranges aircraft cover, to insurer Jardine Lloyd Thompson (JLT) for £27m in cash, it was announced yesterday. The deal comes in the [...]
Hansteen snaps up property in deal with Segro December 8, 2014 PROPERTY investment company Hansteen has snapped up seven German industrial estates and agreed to buy three more from developer Segro, as part of a £36m deal, the companies announced yesterday. Contracts have been exchanged on the first seven sites, with the final three likely to be completed by the first quarter of 2015. The commercial [...]
Apax buys Evry in a £380m deal December 8, 2014 PRIVATE equity funds advised by Apax Partners have agreed to buy Norwegian technology firm Evry in a deal valuing the shares at 4.27bn Norwegian kroner (£380m). Evry’s board of directors unanimously recommended the 16 crowns per share offer and Apax has already secured the acceptance for more than 70 per cent of the shares, it [...]
The man who could be kingmaker: Alex Salmond will stand as MP in 2015 December 8, 2014 Former Scottish First Minister Alex Salmond last night made a bold play for a seat around the Number 10 cabinet table, announcing he will stand to become an MP in 2015 and won’t rule out a coalition with Labour if he is elected. Salmond, leader of the unsuccessful Scottish independence campaign, is widely expected to [...]
No love lost as Clegg hits out at chancellor December 8, 2014 LIBERAL Democrat leader and deputy Prime Minister Nick Clegg ramped up the war of words against his coalition partners yesterday, accusing the Conservatives of needing to “come clean” over their plans for cuts. “Under George Osborne’s approach, once we balance the budget in 2017-18, they would want to pare back the state remorselessly, year in, [...]
Ukip-onomics: Slash aid, scrap HS2, raise taxes – Patrick O’Flynn discusses the credible manifesto December 7, 2014 Nigel Farage has spent years moulding Ukip into the perfect political anti-party. Bon-bons, beer and union flag bunting are in; political-correctness, strict party-lines and untouchable budgets are firmly out. But for how long? The anti-establishment teenager has grown into a young adult. At 21, the party is beginning to be taken seriously, having graduated to [...]
Exclusive: Ukip to hold spring conference in Nigel Farage’s target seat, Margate December 4, 2014 Ukip will hold its spring conference in Margate’s winter gardens next February, its economics spokesman told City A.M. yesterday. He added that Ukip had built “the strongest team in years” to fight the election and aimed to beat the Lib Dems on vote share. The location of the conference, so close to the seat Ukip [...]
