Chancellor to declare the winners and losers June 21, 2010 WITH tax rises and spending cuts expected in today’s Budget, many equity strategists are advising investors to steer clear of stocks heavily reliant on UK-based revenues. Instead, contracts for difference (CFD) traders should target equities with international and private sector exposure. The emergency Budget is likely to focus on tax rises instead of detailed spending [...]
City sharpens knife for Pru’s chairman June 20, 2010 SEVERAL institutional shareholders are agitating for the resignation of Prudential chairman Harvey McGrath as pressure grows on the board over the aborted attempt to buy AIA in Asia for $35.5bn (£25bn). Fidelity, Legal & General, Schroders and F&C are understood to be among those demanding a change at the top of the FTSE 100 insurer, which [...]
The bike and car parts retailer who wants to own Britain on the move June 20, 2010 Halfords and its chief executive David Wild are having a good recession. Earlier this month, the bikes and car maintenance retail chain posted a strong set of full-year figures: pre-tax profits rose 42 per cent to £110m, while sales rose three per cent to £832m. The FTSE 250 business said the trend for healthy living [...]
Bonuses are back for top boardrooms June 16, 2010 THE average FTSE 100 boardroom bonus topped half a million pounds in the first half of this year, with an average pay rise for top directors of 23 per cent, research out today reveals. Bonus payments rose to an average of £558,918, a dramatic bounce from last year when payouts fell 30 per cent, according [...]
L&C hires M&S director Michels June 16, 2010 Boutique wealth management firm London & Capital has scored a coup with the appointment of Sir David Michels as chairman. Michels is also currently deputy chairman of retail giant Marks & Spencer and budget airline easyJet. He said: “London & Capital has shown throughout the credit crunch that well run, independent wealth management companies have [...]
The top team must drive a hard bargain with News Corporation June 15, 2010 THE eight independent directors charged with looking after interests of BSkyB shareholders are an experienced stellar bunch. But the group will come under scrutiny because they may be perceived as being too close to News Corporation head Rupert Murdoch who was chairman of Sky until 2007, and was replaced by his son James. The gang [...]
Sir Stuart bags £4m from M&S June 10, 2010 OUTGOING Marks & Spencer chairman Sir Stuart Rose earned £4.3m last year, a rise of 47 per cent during a period when the retail giant was forced to cut its dividend by 20 per cent. The executive chairman earned £2.6m, including £1.4m in bonuses and cash allowances. The firm’s annual report said deferred share options [...]
Goodies certain to make dads beam June 9, 2010 DRAPER 40765 POWER DRILL £49.99 from amazon.co.uk It is a truth universally acknowledged that a dad hasn’t come of age before he has his very own power drill. This cordless model from Draper Tools is a durable option with long-lasting, fast-charing and reliable batteries that won’t fail you when you’re away from a power supply. [...]
Banks drag FTSE down even lower June 2, 2010 BRITAIN’S top share index fell yesterday, led down by banks, but finished well off session lows on fresh hopes for economic recovery after strong US pending home sales data. The FTSE 100 closed 11.98 points or 0.2 per cent lower at 5,151.32, having dropped as low as 5,072.53. The index fell 0.5 per cent on [...]
Capello pens new deal to send England to World Cup in high spirits June 2, 2010 FABIO CAPELLO handed England the perfect boost before they jetted out to the World Cup last night by pledging to stay on as manager until after the 2012 European Championship. Capello, 63, had sparked unease in the camp in recent days by refusing to commit beyond this summer’s tournament, with Inter Milan thought to be [...]