Sir Mike Rake will no longer take the wheel as RAC chairman after it abandoned IPO plans September 25, 2014 There is a major turnaround at the RAC as City heavyweight and CBI president Sir Mike Rake will no longer take up his position as chairman of the roadside recovery firm, following investment in RAC today from Singapore sovereign wealth fund GIC. RAC had announced at the start of September it would appoint Rake [...]
Why Sir Richard Broadbent could be next to checkout at Tesco after £250m profit overstatement debacle September 24, 2014 Things are always unnoticed until they’re noticed.” Those seven Rumsfeld-esque words could seal Sir Richard Broadbent’s fate as Tesco chairman. Responding to questions about the accounting debacle at Britain’s biggest retailer, Broadbent offered a painful reminder of how quickly events can spiral out of the control of even the grandest of grandees. The [...]
From chips to telecoms innovation is the key September 17, 2014 INNOVATIVE COMPANY of the year City A.M.’s Innovative Company of the Year category salutes businesses that are frontrunners in their industry, from micro-chips to car service apps. With London being one of the leading hubs in Europe – if not the world – of innovative technology, our judges have had a hard time choosing a [...]
Hermes gets a head spin with a BT Tower soiree September 16, 2014 Owned by the BT pension fund, you’d think Hermes Investment Management would have free rein in the telecoms giant’s famous tower, but last night the firm had only its second event there ever. It’s inaugural autumn party gave employees (and The Capitalist) a chance to enjoy the views and celebrate Hermes’ recent rebrand. “I remember [...]
Scottish independence: BT, TalkTalk, EE, Telefonica, Vodafone and Three warn of increased costs if Scots vote Yes September 14, 2014 Six of Britain's leading telecoms companies are the latest to warn of potential price rises if Scotland votes Yes to independence. The chiefs of BT, TalkTalk, EE, Telefonica UK, Vodafone UK and Three UK have issued a joint letter warning that the uncertainty around regulation and spectrum allocation, which mobile networks use to operate, could [...]
What is Formula E? Your guide to Leonardo DiCaprio and Richard Branson’s favourite new motorsport September 12, 2014 Racing goes on the grid for the first time this weekend, as the debut season of Formula E gets underway in Beijing this weekend. Formula E is the electricity powered alternative to the more gass-guzzling versions of motorsports, backed by the Federation Internationale de l'Automobile (FIA) and an array of famous faces including Leonardo DiCaprio and [...]
DIY expert nails the top job at Kingfisher September 10, 2014 Veronique Laury set to become only one of five female FTSE 100 chief executives FEW PEOPLE on this side of the Channel will have heard of Veronique Laury, but after renovating three houses of her own, the incoming chief executive of Europe’s largest retailer has knowledge of the DIY sector that goes beyond just the [...]
Manchester United finances: Club announce record revenues despite seventh-placed finish September 10, 2014 Manchester United may have endured a turbulent time on the pitch last season, but off it, they continued to make remarkable progress. The club released their financial accounts for the 2013-14 season today, which revealed a mammoth total revenue of £433.2m, a 19 per cent increase on last season's £363m. United's struggles on the pitch culminated [...]
NBA TV deal could be worth more than the Premier League’s September 9, 2014 The National Basketball Association (NBA) is on the verge of reaching a new TV deal with ESPN and Turner Broadcasting (TNT), according to reports. The deal would be worth more than $2bn a year, making it more valuable than the bumper domestic broadcasting deal signed by the Premier League two years ago. [...]
ITV ups the ante with call for Sky and Virgin to pay to broadcast its shows September 8, 2014 ITV chief executive Adam Crozier yesterday upped the ante on BSkyB and Virgin Media as he called for the government and its regulator Ofcom to force the pay TV firms to pay to broadcast ITV’s shows. Under the current model pay TV operators Sky, Virgin Media, BT and TalkTalk all broadcast the UK’s so-called Public [...]