Pub giant Young’s sees profits increase 26 per cent in first half November 20, 2014 BRITISH brewery and pub operator Young & Co’s reported a 26 per cent rise in profits yesterday for the first half ended 29 September. Profits before tax jumped to £18.8m, from £14.9m in the same period of last year. Similarly, the London-based brewer saw its revenues jump eight per cent to £116.6m and its earnings [...]
Des Naughton resigns from Nicoventures: British American Tobacco loses ecigarette managing director November 20, 2014 Des Naughton, managing director of British American Tobacco (BAT) ecigarettes subsidiary Nicoventures, has resigned from the group, it said in a statement yesterday. Naughton will leave BAT on 28 February 2015 after nearly 20 years with the tobacco giant, four of which has been on the management board. In that time, he has also been [...]
“Expand targeted immigration” to stop UK losing War for Talent as workforce ages November 20, 2014 The UK is falling behind in the McKinsey-coined “War for Talent” as the demographic segment that supplies companies with future leaders shrinks, says new research from global recruiter Randstad. The analysis of new population statistics suggests the size of the UK’s “executive” segment is diminishing at speed. Although the UK’s population grew 7.5 per cent [...]
Quindell share price soars after it denies Nationwide Accident sale speculation November 20, 2014 Flailing insurance outsourcing firm Quindell saw its shares jump over 30 per cent yesterday as it denied rumours it was looking to sell its 25 per cent stake in Nationwide Accident Repair Services. Quindell, which provides claims processing technology to car insurers among other services, issued a statement in response to social media speculation that [...]
Simmons advises on £250m MBS transaction for Paragon November 20, 2014 LONDON-based international law firm Simmons & Simmons has advised on a £250m mortgage-backed security transaction for the British buy-to-let mortgage provider Paragon, the firm said yesterday. Led by asset-backed finance partner Simon Schiff, the firm advised joint lead managers Lloyds, Macquarie, Morgan Stanley and Natixis on the deal, which securitises UK buy-to-let mortgages. The transaction [...]
Quindell-linked analyst Andy Bryant resigns days after chairman Rob Terry exits November 19, 2014 Troubled insurance outsourcer Quindell saw another of its entourage jump ship yesterday when Andy Bryant, technology analyst at its sole remaining broker Cenkos Securities, resigned. The departure follows on from that of Quindell chairman Rob Terry yesterday and the resignation of broker Canaccord Genuity last month. A Cenkos spokesperson told City A.M. that Bryant’s departure [...]
Taxi app wars: Uber vs Hailo vs Maaxi vs Lyft – Emil Michael gaff is latest hurdle in startup battle November 19, 2014 Fast-growing “ridesharing” app firm Uber hit the headlines for all the wrong reasons again this week as senior executive Emil Michael was reported suggesting the company hire researchers to dig up dirt on its media critics. The blunder is the latest in a long line of controversies that have plagued the startup over [...]
Combined parental leave gets 63pc support from parents or parents-to-be in FTSE 100 firms November 19, 2014 Substantially more parents are in favour of taking shared parental leave than had been previously estimated by the government, according to a report published yesterday by law firm Linklaters. According to the study – based on the answers of 250 parents or parents-to-be working in FTSE 100 firms – 63 per cent would be interested [...]
League failure hits Manchester United revenues November 18, 2014 MANCHESTER United yesterday reported a 10 per cent slump in revenues for the first quarter as a lack of Champions League football started to hit the club’s coffers. In the first three months of the 2015 financial year, the English Premier League club’s total revenues fell to £88.7m, from £98.5m in the same period last [...]
Former chairman Robert Terry sorry for Quindell meltdown November 18, 2014 Robert Terry, the former chairman of the beleaguered insurance claims processor Quindell, yesterday said he was “disappointed and sorry that events turned out as they did”. Terry resigned from the company’s board yesterday after a rocky few months of speculation and controversy saw the Hampshire-based firm lose more than £2bn of market value. He departs [...]
