Electra chairman Roger Yates resigns as Sherborne’s activist investor Edward Bramson voted onto the board by shareholders November 5, 2015 Sherborne's Edward Bramson has finally succeeded in his mission to join the board of private equity group Electra, after 53.5 per cent of shareholders voted in favour of his appointment as a director, 16.6m to 14.4m against. Chairman Roger Yates resigned from the from the board with immediate effect after the meeting. Sherborne's first move is to introduce "a strategic [...]
City Moves for 02 November 2015 | Who’s switching jobs November 2, 2015 LINKEDIN John Herlihy has been appointed vice president and managing director for Europe, the Middle East and Africa at the professional network. He joins from Google, where he was vice president of SMB sales and head of Google Ireland. Prior to that, Herlihy held leadership positions at tech companies in Europe and the United States. [...]
Aviva “maintaining the momentum” of turnaround October 29, 2015 Aviva is "maintaining the momentum" of its turnaround, keeping the business on track for ongoing growth. The figures Within life insurance, value of new business grew 25 per cent to £823m, up from £685m for the same quarter last year, while Aviva platforms attracted £2.2bn net inflows in the nine months to 30 September. New business [...]
UK pensions: Almost £3bn withdrawn from pension savings pots since April this year, HMRC reveals October 28, 2015 HMRC announced today that 251,000 flexible payments from pensions, totalling £2.7bn, had been made since the pension freedoms rules came into effect in this April. In the last six months, 146,000 people have made a withdrawal from their pension under the new rules. The figures also showed that the number of people taking flexible payments [...]
London Irish v Saracens to be played in New York as Aviva Premiership Rugby lands in America October 27, 2015 London Irish and Saracens will play each other in New York in the Aviva Premiership's first ever overseas fixture. The two London clubs will swap the Big Smoke for the Big Apple on Saturday 12 March, with the Exiles' home fixture set to be staged at the 25,000 capacity Red Bull Arena, home of the New York [...]
Fans deserve greater transparency from the Aviva Premiership’s salary cap settlements October 27, 2015 With the Rugby World Cup drawing to a conclusion, English rugby fans' attention is switching to domestic matters – where they have found even more sources of frustration and confusion. Last Thursday evening, following a board meeting, Premiership Rugby released a statement setting out salary cap arrangements for the 2016/17 and 2017/18 seasons, a [...]
Banks come to fore as sector to report results – London Report October 25, 2015 BANKING results season is upon us, with three of the big four reporting this week. And on the economic front, third-quarter GDP figures are expected to show that the economy is slowing down due to weaker construction and manufacturing output. Corporates Royal Dutch Shell and BG Group also report in with updates, as does sector [...]
Aviva Premiership Rugby salary cap to rise to £7m but still trails France’s Top 14 October 23, 2015 Premiership Rugby clubs have had their salary cap shackles loosened in order to "drive the next phase of growth in English club and international rugby". Clubs' limit on wage spending will be lifted by £1m to £6.5m next season and £7m in 2017/18, bringing the Premiership closer to the spending power enjoyed by French clubs, which are currently capped at [...]
European Central Bank to re-examine monetary stimulus in December as it holds key interest rates October 22, 2015 The euro tumbled against the pound this afternoon, after European Central Bank (ECB) boss Mario Draghi hinted an even bigger "bazooka" could be fired at the Eurozone in December. In his opening remarks, Draghi reiterated that the emerging market slowdown and financial market turbulence pose downside risks to the outlook for growth and inflation in the Eurozone. "Most notably, the strength and [...]
Tottenham Hotspur sponsor Under Armour posts first billion-dollar quarter October 22, 2015 Like many of the athletes who sport its brand, Under Armour has enjoyed a good year after surpassing $1bn in quarterly revenue for the first time. The figures The sportswear retailer posted revenues of $1.2bn (£800m) in its third quarter, a 28 per cent increase on last year's $938m. Under Armour heralded the "game-changing" performance of [...]