Shed Media appoints Rabbatts as non-executive chairwoman May 27, 2009 TELEVISION production company Shed Media has appointed Heather Rabbatts as its non-executive chairwoman. The former Channel 4 head of education will join the Shed Media board on 10 June, replacing David Kogan. Rabbatts is also a non-executive director of the Royal Opera House, UK Film Council and Crossrail, and was previously a non-executive director of [...]
Pension threat to firms must be eased, says CBI May 25, 2009 THE government must lengthen the period over which it assesses the health of company pension schemes, according to the CBI. The employers’ organisation is today pushing for “urgent action” to extend the rule forcing the Pensions Regulator to investigate firms’ funding plans where deficit repayments will take more than ten years to 15 years. It [...]
Uncertainty over dividend payments could see defensive shares back on top May 25, 2009 MARKS & Spencer was hit by shareholder anger last week after it confirmed a widely flagged decision to slash its dividend payout to shareholders by one third. It saw its shares dive to the bottom of the FTSE 100, wiping 8 per cent off the share price in just one day. The price has continued [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 21, 2009 FINANCIAL TIMESCORUS CHIEF SCRAMBLES TO RESCUE FACTORY DEALCorus chief Kirby Adamsm who took over at the Anglo-Dutch steelmaker last month, faces both the worst fall in steel demand for 60 years and a battle to salvage an agreement to sell the group’s Teesside plant to Marcegaglia. It has emerged that Marcegaglia is having second thoughts [...]
Shell and Next hit by angry shareholders May 19, 2009 SHELL and Next’s Annual General Meetings (AGMs) set the stage for a summer of discontent yesterday, as shareholders voiced concern over their companies’ remuneration policies. Almost 60 per cent of investors at oil giant Shell voted against the company’s executive pay scheme, while a disgruntled 17 per cent at Next came out against the firm. [...]
BT bosses face no bonuses if they fail to meet standard performance targets May 17, 2009 TELECOMS firm BT will claw back executives’ bonuses, it emerged yesterday, should they fail to meet performance targets. The news comes after BT announced a crisis in its corporate services arm, more job losses and cut its final dividend last week. BT’s annual report, due to be published on 27 May will outline the details [...]
FTSE 100 nudges higher as banks start to look oversold May 14, 2009 THE FTSE 100 edged up by 0.7 per cent yesterday, snapping a three-day losing run, with gains in banks and miners offsetting weakness in oil producers hurt by weaker crude prices. The index closed 31.21 points higher at 4,362.58 in a choppy session. “It still looks too early to predict the end of this two [...]
BT SAYS SORRY TO INVESTORS May 14, 2009 BT CHIEF executive Ian Livingston yesterday apologised to shareholders after an “unacceptable performance” by BT Global Services (BTGS) forced the firm to cut its dividend for the first time in eight years. Writedowns of £1.3bn against BTGS, which supplies IT services to multinational companies, drove a loss of £134m in the year ending March 2009 [...]
WHAT DO YOU THINK OF BT’S RESULTS? May 14, 2009 DAVID MOLONY OVUM“In a sense, it was one of the most important announcements since BT was floated. However, despite a knock to the confidence in their business, there was plenty to be happy about. Broadband is very strong, conferencing and business services are too. And Global Services is still winning business. If a company can [...]
Third day of red as miners and banks lose their appeal May 13, 2009 THE FTSE 100 dropped 2.1 per cent yesterday, succumbing to disappointing US retail sales figures, profit-taking in the banking sector and mining stocks weighed down by weak commodity prices. The index retreated for the third day in a row, closing at 4,331.37, or 94.17 points down. “Despite the change of tone, markets have more room [...]