Yahoo faces struggle after sacking Carol Bartz September 7, 2011 CONTROVERSIAL Yahoo chief executive Carol Bartz was unceremoniously axed yesterday, ending her strained tenure at the helm of the struggling internet giant. In typically frank style, she informed staff by sending a mass email saying the chairman had just fired her over the phone. Few employees will shed tears for their notoriously ruthless former boss, [...]
HCL investors fight to block fundraising September 7, 2011 THE battle for medical staff provider Healthcare Locums heated up yesterday as rebel investors lobbied shareholders to reject plans for a £60m fundraising that would virtually wipe out all minority holdings. US funds Permian Investment Partners and Arundel Capital urged shareholders to vote against the fundraising at next week’s general meeting, arguing that the share [...]
Have your say on planning reforms Osborne is doing as chancellor? September 7, 2011 This week our readers’ poll, run in association with PoliticsHome.com, is asking for your opinion on the government’s reform to planning laws. To tell us what you think about plans to double the rate of house building in the UK and more, apply to join at www.cityam.com/panel.
REUTERS HQ FOR SALE AS PART OF £1BN LONDON PROPERTY DISPOSAL September 7, 2011 Thomson Reuters’ headquarters in Canary Wharf, Olswang’s Holborn office and Deutsche Bank’s Winchester House site are among the properties being put on the market by German real estate fund KanAm, the firm said yesterday. Knight Frank is thought to be handling the sale, which could bring as much as £1bn in total. The group abandoned [...]
Centrica cuts agency staff September 7, 2011 Energy giant Centrica has overhauled its use of temporary staff to avoid a £2m a year bill caused by stringent new rules on agency workers coming into force on 1 October. Centrica cut the number of temps it uses from 1,300 to 670 and re-hired more than 300 former temps as permanent employees to prepare [...]
Glencore reveals record fatalities September 7, 2011 Commodities group Glencore released its first sustainability report yesterday, showing it paid $780,000 in major environmental fines last year and had 18 fatalities. This compares with three deaths for Rio, five at BHP Billiton and 26 at India-focused Vedanta Resources during its 2010-2011 financial year to the end of March. The 106-page report said the [...]
BP appeals against Russian raid September 7, 2011 BP’s subsidiary BP Exploration Operating Company has filed an appeal against a Russian court ruling that allowed bailiffs to search the company’s Moscow offices last week. The search was carried out by black-clad armed bailiffs after minority shareholders in BP’s Russian joint venture TNK-BP obtained a court order against the oil major. TNK-BP is seeking [...]
SuperGroup bucks high street gloom September 7, 2011 YOUTH fashion retailer SuperGroup expects to buck the high street gloom and achieve a solid Christmas after recording strong summer sales. The fast-growing firm, whose SuperDry clothes are worn by David Beckham and Leonardo DiCaprio, reported a 66 per cent rise in sales to £54m in the 13 weeks to 31 July. The group, which [...]
Dixons cuts costs and vows to pay £150m bond on time September 7, 2011 DIXONS is cutting more costs and trimming investment plans to counter a drop in sales and profit margins as shoppers rein in spending. Europe’s second-largest electricals retailer and home to the Currys and PC World chains said it would cut an extra £10m of costs and limit capital spending to £100m, down from an original [...]
ANALYST VIEWS: WHAT DID YOU MAKE OF SUPERGROUP’S RESULTS? September 7, 2011 WAYNE BROWN | COLLINS STEWART We feel with pressures on the UK consumer growing and execution risk high, it is appropriate to be cautious with the stock trading on a full rating and the lack of visibility over underlying retail momentum is unhelpful. NICK BUBB | ARDEN PARTNERS Given the grim consumer outlook, we had all [...]
