Imperial Tobacco takings fall as Spain woes persist February 1, 2012 IMPERIAL TOBACCO said yesterday its cigarette volumes fell seven per cent in the final quarter of 2011 after sales were hit by a tough Spanish market, Syrian sanctions and destocking in Ukraine and the US. The world’s fourth-biggest cigarette maker, whose brands include Davidoff and Gauloises, said sales were down by one per cent in [...]
Shop group pins hopes on US internet expert February 1, 2012 ARGOS’ incoming chief executive John Walden is a little known figure on this side of the Atlantic, but his extensive multi-channel experience in the US has caught the attention of executives at Home Retail Group. Walden, 52, kicked-off his retail career in the 1990s as chief operating officer of online supermarket pioneer Peabody before joining [...]
Tesco moves UK exec who sold shares February 1, 2012 SUPERMARKET giant Tesco has moved Bob Robbins from his role as UK chief operating officer three weeks after it was revealed he sold stock ahead of a profit warning, according to an internal announcement yesterday. The announcement said Robbins, who has held the UK COO role since March 2011, will work directly for group chief [...]
Peacocks administrator receives six bids to rescue the collapsed retailer February 1, 2012 PEACOCKS administrator KPMG has received six bids to rescue the group out of administration. The first round of bidding closed on Monday, and it is understood suitors for the Cardiff-based business will now be asked to provide further details ahead of a round of final offers next Monday. Private equity firms KKR and OpCapita were [...]
Mystery firm signs term sheet to buy BMI Baby February 1, 2012 BMI has signed a term sheet to sell its regional offshoot BMI Baby to a mystery UK company. BMI said the firms had “mutually agreed” to keep the potential buyer and value of the sale under wraps. The deal has come as a surprise to rival airlines, including German outfit INTRO Aviation, which said it [...]
REFORM IS THE STORY OF BANKING BESTSELLER February 1, 2012 EVER WONDERED how former BP and Lehman Brothers spinner Andrew Gowers ended up as a strategic consultant to the Association for Financial Markets in Europe? The appointment of the one-time FT editor last November was a “seamless transition”, says AFME’s CEO Simon Lewis, from Gowers editing the body’s collection of essays on reforming Europe’s financial [...]
Stringer set to step down as Sony chief February 1, 2012 WELSH-born Sir Howard Stringer is to step down as president and chief executive of Sony after a fifteen year run at the Japanese electronics company, to be replaced by Kazuo Hirai. Hirai, aged 51 and currently executive deputy president, will take Stringer’s seat on 1 April. Stringer – a rare foreign chief executive for a leading [...]
BAA loses Stansted appeal February 1, 2012 AIRPORT operator BAA must sell London Stansted airport, after losing an appeal against an earlier order by the Competition Commission. But BAA has not ruled out appealing further, in the latest twist in a three-year fight between the firm and the Competition Commission over its dominance of the UK airport market. “We are disappointed by [...]
Business group calls for more Heathrow capacity February 1, 2012 BRITAIN should consider all options for increasing capacity at London Heathrow airport, including a third runway and allowing planes to land and take-off simultaneously on its two runways, according to business group London First. A report published yesterday by the capital’s connectivity commission — formed by London First — said all viable options for meeting [...]
Nasdaq OMX core profit tops expectations February 1, 2012 NASDAQ OMX Group’s core profit topped analysts’ expectations for the fourth quarter yesterday, boosted by a rise in revenue from market data and technology, which helped offset a soft trading environment. Stock market volumes declined from the elevated levels of the prior quarter as volatility eased and investors moved to the sidelines. But the parent [...]
