Keydata lands building society on the block March 6, 2011 ONCE a sleepy building society with branches scattered around the historic towns of East Anglia, Norwich & Peterborough has slumped since the collapse of Keydata. The sale of the Keydata’s life settlement bonds to more than 3,000 of its customers could ultimately bring it to its knees – and spark interest amongst buyers. Last week’s [...]
FSA puts back date for bank probe report March 6, 2011 BRITAIN’S financial watchdog has delayed the publication of a long-awaited report into the Royal Bank of Scotland’s collapse during the financial crisis. The Financial Services Authority (FSA) had promised to publish its findings later this month, yet it will now wait until April at the earliest to make its investigation public. The regulator is currently [...]
Prudential boss set to unlock bumper £4.3m bonus despite investor unrest March 6, 2011 THE CHIEF executive of Prudential could land a performance-related bonus for last year worth up to £4.3m, despite the protests of some vocal shareholders. Britain’s biggest insurer, headed by Tidjane Thiam, is expected to announce a leap in operating profits that will land him a bumper payout. It could post an increase of almost 25 [...]
Good numbers alone aren’t enough March 6, 2011 Tidjane Thiam has not had an easy run since being seen to have led investors up the garden path during Prudential’s disastrous failed bid for AIA. But the harried chief executive is expected to find some relief in the insurance giant’s full-year results this Wednesday. Operating profit is forecast to come in at £1.7bn versus [...]
Women board members lift share prices March 6, 2011 THE best performing companies are likely to have a smaller board size and a high proportion of female directors, according to new research published today. Law firm Eversheds studied the share price performance of 241 companies around the globe between January 2007 and December 2009, then used the data to find the “ideal” board composition. [...]
Inmarsat boss splits top job for successor March 6, 2011 THE BOSS of satellite operator Inmarsat will split his role in two when he steps down later this year. Andrew Sukawaty, the firm’s long-serving chairman and chief executive, will appoint two separate successors to his role. The move will bring the company in line with boardroom best practice for when he moves up to become [...]
Dior to support Galliano labels despite outbursts March 6, 2011 FRENCH fashion house Dior yesterday said it planned to continue supporting the eponymous label of John Galliano, its star designer fired this week over alleged anti-Semitic remarks. Dior’s parting with Galliano, after an online video clip showed him expressing admiration for Adolf Hitler, had raised questions about the future of the John Galliano label, which [...]
Public sector workers face pension curbs March 6, 2011 PUBLIC sector workers will have to work until they are 65 or have their pensions cut under recommendations expected to be made by Lord Hutton this week. He will also say that public sector workers should pay thousands more into their pensions and be switched out of “final salary” schemes. Instead a “career average” sum will [...]
Sky investors to play hard ball with Murdoch empire March 6, 2011 BSKYB investors are preparing to play hardball with Rupert Murdoch’s News Corp over its proposed takeover. Murdoch tabled £7.8bn in September to buy the 61 per cent of the broadcaster it does not already own but now investors are pushing for a price closer to £11bn. Talks between the two sides were broken off while [...]
City needs to focus on growth to aid economy March 6, 2011 AS we edge closer to this month’s Budget, the UK business community has been calling for a clear growth strategy that will help to turn austerity into prosperity. The government has already taken tough decisions on dealing with the deficit by reducing spending – not easy in these challenging economic circumstances. I was however pleased [...]
