SVG chairman Ferguson leaves after 28 years March 12, 2012 SVG Capital chairman Nicholas Ferguson is leaving the private equity group at the end of the year, after 28 years with the firm. Ferguson became a director at the company’s previous incarnation, Schroder Ventures, in 1984 and was chairman when it was spun out into SVG in 1996. A prominent figure in the private equity [...]
CITY VIEWS: DO YOU SHOP ONLINE? March 12, 2012 GEMMA COSTER FRIENDS LIFE “I don’t shop online, although I keep thinking I should do it because it does seem like a great idea. However, I haven’t got round to it yet. I definitely will though, as it seems convenient.” LEIGHTON GOULD EURO MONEY “I shop online at Tesco and I get it delivered, as [...]
GLAXO’S WITTY DOUBLES HIS PAY March 12, 2012 GlaxoSmithKline boss Andrew Witty almost doubled his pay last year to net a total of £6.78m in pay, bonuses and share awards. Witty netted £3.7m in long-term awards, up from £1.4m the previous year in a bid to close a “competitiveness gap” in the chief executive’s pay packet, the pharmaceutical giant’s annual report showed yesterday.
Directors hit back at Balls’ pensions plan March 12, 2012 THE LABOUR Party has demanded a raid on tax relief that top earners are currently granted on their pension contributions – provoking an angry reaction from business chiefs. Shadow chancellor Ed Balls said yesterday that the relief should be slashed from 50 per cent to 26 per cent. “Ed Balls seems to think that this [...]
Budget 2012: what will be in Osborne’s red box? March 12, 2012 ● STAMP DUTY The chancellor appears likely to close a loophole by which people can avoid paying stamp duty on properties by putting expensive properties in off-shore firms. Stephen Herring, a senior tax partner at BDO, said the change is “as close to a dead cert as you can get”. ● MANSION TAX The Conservative [...]
Deutsche loses prime brokerage chief to Lloyds wholesale division March 12, 2012 LLOYDS Banking Group’s wholesale division has poached a Deutsche Bank executive to be its new head of e-commerce and over-the-counter (OTC) derivatives. Joe Cassidy is leaving his job as head of rates prime brokerage and OTC clearing at Deutsche to go to the state-owned UK lender. It comes less than a week after it emerged that [...]
IAG gives way in an effort to seal BMI deal March 12, 2012 BRITISH Airways owner IAG has offered concessions to EU antitrust regulators in a bid to get regulatory approval for its takeover of BMI, the low-cost British unit of German carrier Lufthansa, the European Commission said yesterday. The Commission, tasked with ensuring a level playing field in the EU, did not provide details of the concessions, [...]
Surge in Brazil flights propels BAA traffic figures skyward March 12, 2012 TRAFFIC at airports operated by BAA rose by 2.5 per cent in February, compared with the same period the previous year, with London’s Heathrow benefiting from a surge in demand for flights to Brazil. BAA, which is Britain’s main airport operator and majority owned by Spanish infrastructure group Ferrovial, said yesterday that its airports carried [...]
Cobham withdraws Danish bid March 12, 2012 British aero electronics group Cobham said it was withdrawing its £273m bid for Thrane & Thrane after the Danish communication equipment firm rejected its offer. Cobham said it had been in talks with Thrane & Thrane regarding a potential deal over the last year, and submitted an offer of 420 Krone per share on 8 [...]
Stagecoach bid for Devon buses March 12, 2012 Stagecoach is planning to buy FirstGroup’s North Devon bus operations, the FTSE 250 transport group said yesterday. Stagecoach will buy around 30 vehicles that operate on 10 routes in North Devon in a deal worth £2.8m, which must still be cleared by the Office of Fair Trading.
