CITY MOVES | WHO’S SWITCHING JOBS February 9, 2012 ICAEW Arthur Bailey has been elected as the next vice-president of the Institute of Chartered Accountants in England and Wales (ICAEW). Bailey, who will take office on 13 June, has served on ICAEW’s council for 14 years, including three years as chairman of the audit committee, and is a member of the board. He is [...]
China’s fate tangled with Eurozone February 6, 2012 AS CHINA’S economic power grows, its authorities are increasingly willing to punch their weight on the international stage. The decision to direct Chinese airlines to ignore the European Union’s carbon-emissions system is a slap in the face. But can China really afford to be sanguine? The latest report from the International Monetary Fund (IMF) suggests [...]
Webster to step down as IHG chairman February 5, 2012 DAVID Webster, the long-standing chairman of Intercontinental Hotels Group, is to stand down after eight years at the helm of the world’s largest hotel group. A source close to Webster said that no date had been set yet for his departure, but that he is likely to leave later this year. The owner of Holiday [...]
All3Media sets hunt for new chief in motion February 5, 2012 PRIVATE equity firm Permira is on the lookout for a new chief executive for All3Media, in which it owns a majority stake, as current head Steve Morrison, 64, prepares to step down. A headhunter has been brought in as it is thought likely that the new chief executive will be an external candidate. All3Media, the [...]
Buyout houses circle Iceland February 1, 2012 Two buyout houses have placed bids for frozen food retailer Iceland Foods, people familiar with the matter said yesterday, in an auction that the vendors hope will value the business at around £1.5bn. The bids from BC Partners and Bain Capital are “aggressive” the people said, although they did not indicate whether supermarket chain Wm [...]
ROUND-UP | LATE MOVES January 31, 2012 Roma’s Pizarro joins Man City MANCHESTER CITY struck an uncharacteristically frugal late deal for Roma midfielder David Pizarro. The Chilean 32-year-old, who played for City manager Roberto Mancini at Inter Milan, has joined the top-flight leaders on loan until the end of the season. Bridge loaned SUNDERLAND have taken Manchester City outcast Wayne Bridge (right) [...]
Tesco sales growth slows January 31, 2012 Sales growth at Tesco has slowed to just half that of the broader grocery market as rivals like Wal-Mart’s Asda and J Sainsbury gain share, data showed. Market research by Kantar WorldPanel showed grocery sales in Britian climbed 4.2 per cent year-on-year in the 12 weeks to January 22 compared with 4.8 per cent in [...]
Technological change drives better trading January 30, 2012 THE latest foray in the ongoing battle of technology that has griped retail trading since the invention of the internet comes from IG Index. As part of its shiny new Insight portal, it is releasing details of its clients’ net positions (see right for an example of the information now available). More information and collaboration [...]
Subway to create 6,000 new UK jobs January 26, 2012 SUBWAY, the sandwich franchise chain, has announced ambitious plans to open over 2,000 stores in the UK and Ireland over the next three year, creating more than 6,000 jobs. The company, which is famous for its US-style foot-long rolls, said its expansion plans were fuelled by a growing consumer demand for “convenient, affordable” food on [...]
FTSE takes a breather as clouds gather over Greece January 24, 2012 BRITAIN’S top share index retreated from six-month peaks yesterday as Eurozone debt woes prompted investors to take profits in banking stocks and rebalance portfolios in favour of high dividend payers. The fall on the London bourse chimed with weaker equity performance in Europe and the United States, on worries that Greece could be heading for [...]