ITV boosted by change in advert rules September 14, 2009 THE COMPETITION Commission is today expected to relax the rules governing the way ITV1 sells advertising, in a move that could net the firm an additional £20m in annual revenues. The regulator has been reviewing the contracts rights renewal (CRR) system, which was introduced when Carlton and Granada merged in 2003 to protect advertisers from [...]
France Telecom comes under pressure to respond to string of staff suicides September 14, 2009 France Telecom, owner of Orange, has been asked by the French government to explain its position after a string of 23 employee suicides that have rocked the company. Unions partly blame the deaths on recent layoffs and restructuring at the telecommunications giant. The company’s head of human resources, Olivier Barberot, held a conference call with [...]
BOUNCING BACK September 14, 2009 A TRAMPOLINE and a slide could soon adorn a disused Victorian gas holder near St Pancras station. The plan, one in a shortlist of five, is part of a makeover at St Pancras. The gas holder is a listed building and cannot be dismantled, so a competition is being held to decide the site’s future. [...]
Property guru to launch fund September 14, 2009 Property veteran and former Slough Estates chief executive Roger Carey is set to launch a new property fund to take advantage of bargain opportunities in the depressed real estate market. The UK Strategic Income Property Fund will be managed by Graham Gould from Cobra Asset Management and BDOStoy Hayward Investment Management, and will take advice [...]
City Moves for 15 September 2009 | Who’s switching jobs September 14, 2009 White & CaseThe law firm has appointed London partner Oliver Brettle to its global executive committee. Brettle will retain his responsibilities as executive partner in the London office, which he has led for the past year. He replaces New York-based partner Dimitrios Drivas on the committee. Drivas is stepping down from the post to devote [...]
WHARF BITES September 14, 2009 A year on from Lehman Brothers, Canary Wharf has been trying to change its image from financial hub to eating and leisure destination. The Docklands site yesterday revealed its Park Pavilion restaurant site, due to open this Autumn in Canada Square, is now fully let. Roka, Canteen, Wahaca and cocktail bar The Parlour will all [...]
When in despair, try singing a song to cheer up September 14, 2009 There can be no doubt that public spending needs to be cut back. One way to do this will be to tackle waste and unnecessary spending in the public sector, which in my experience there is plenty of. The following anecdote brought this home to me. This past week, I had lunch with a gentleman [...]
Boss: BMW will beat savings goal September 14, 2009 Carmaker BMW will beat its $8.7bn (£5.23bn) savings goal for 2012, its chief executive Norbert Reithofer said yesterday. He added that new models at the luxury car maker will give a “major boost” to sales. The group, which is based in Munich, is anticipating a gradual improvement in deliveries as demand recovers from the financial [...]
LSE lifted by Rolet effect September 14, 2009 THE LONDON Stock Exchange (LSE) saw its share value rise in August by 11.3 per cent, as the positive effect of new chief executive Xavier Rolet continued, according to the Mondo Visione Exchanges Index. The share price rise was achieved against a backdrop of a fall of -1.3 per cent in overall share values for [...]
BEST OF THE BROKERS September 14, 2009 VODAFONEUBS raised its price target for Vodafone to 130p, saying the firm will benefit from UK market repair, a stronger euro and moves in listed/non-controlled assets. The broker removed its short-term “sell” and moved the stock to “neutral” saying there are few short-term catalysts for underperformance due to a lack of sector results. DS SMITHA [...]
