Former Brown minister Davies to chair Chime November 19, 2012 FORMER business minister and Standard Chartered chief Lord Mervyn Davies landed a new role as chairman of Chime Communications yesterday. Lord Davies, who served as Gordon Brown’s minister of state for trade, investment and small business from January 2009 until Brown left Downing Street in 2010, takes the role after Lord Bell stepped down to [...]
Profile: Lord Mervyn Davies November 19, 2012 LORD Mervyn Davies had a short tenure as a minister of state, but since Gordon Brown was voted out of Downing Street, he has had plenty to do. Baron Davies of Abersoch, to give the former chief executive of Standard Chartered his full title, is also a senior non-executive director at international drinks giant Diageo, [...]
Mail.Ru exits Zynga and Groupon November 19, 2012 Russian email-to-social networking group Mail.Ru has sold all the shares it owned in US daily deal website Groupon and Facebook game maker Zynga, the company announced yesterday. Mail.Ru has been cutting its holdings in US internet companies, including social networking site Facebook, gradually this year. As of 9 November, it owned 0.16 per cent of [...]
FFastFill driven by Asian growth November 19, 2012 Derivatives software provider FFastFill saw profits rise to £1.4m in the six months to the end of September, up from £100,000 in the same period last year, the company said yesterday. FFastFill saw its shares rise by almost four per cent as it posted a 49 per cent rise in revenues to £10.9m, driven partially [...]
Communisis exits Northern Ireland November 19, 2012 Leeds-based marketing firm Communisis said yesterday it expects a third straight year of “significant” growth, but said it was closing its office in Northern Ireland in a bid to save cash. It expects the restructuring to cost £1.5m, and for it to save £1.3m a year. The company, which was at the heart of mobile [...]
Majestic bucks bad weather to post profit rise November 19, 2012 MAJESTIC Wine yesterday shrugged off a summer of bad weather and economic uncertainty, as it posted a rise in first half revenue and profits. Chief executive Steve Lewis said the wash-out summer prompted organisers of fundraisers and sporting events to cancel or return wines while consumers took a raincheck on barbecues. “The test is always [...]
Total sells off Nigeria stake to Chinese firm November 19, 2012 OIL major Total yesterday agreed to sell a 20 per cent stake in a Nigerian offshore oil field to China’s Sinopec for £1.6bn. The deal will help the French oil group fund its ambitious exploration plans while giving China an additional foothold in overseas fuel production. Total has penned a deal to sell the stake [...]
Revenue up at Ruspetro thanks to an increase in oil production November 19, 2012 SIBERIAN-focused oil and gas explorer Ruspetro yesterday reported a 22 per cent jump in revenue, thanks to a ramp-up of production at its main asset. Revenue for the exploration and development group increased to $17.7m (£11.1m) in the third quarter of 2012, compared to $14.6m in the previous quarter, buoyed by an increase in oil [...]
Taylor wins a bigger role at Barclays’ investment bank November 19, 2012 BARCLAYS announced yesterday that Richard Taylor will be its new head of investment banking in Europe, Middle East & Africa (EMEA), filling a gap left by Tom King’s move to take on a global role in a shake-up last month. Taylor, formerly at Bank of America Merrill Lynch, is currently head of the investment banking [...]
Charity wants more prominence for givers in the UK honours list November 19, 2012 A CAMPAIGNING charity yesterday called for an urgent overhaul of the honours system to increase recognition of people who give money and time to good causes. Legacy10, which was founded by the financial public relations executive Roland Rudd, is calling for an end to the awarding of honours solely for “services to business”, and instead [...]
