BP’s Hayward starts energy consultancy November 14, 2010 FORMER BP chief executive Tony Hayward has set up his own business, understood to be an energy consultancy, as he rejoins the business world following his departure from the oil giant. Hayward set up 3E Capital on 28 October, papers filed at Companies House show. He lists Deloitte’s office in London as the company’s registered [...]
CITY MOVES | WHO’S SWITCHING JOBS November 14, 2010 3i Group After the merging of its buyout and capital growth divisions and the departure of several top dealmakers from 3i Group’s buyout team this autumn, the group recently recruited three new members for its senior leadership team. Leader of infrastructure business Cressida Hogg (pictured) will join head of UK markets Alan Giddins and Menno [...]
Spain and Qatar back under microscope after note fiasco November 10, 2010 SURREPTITIOUS note passing may sound like harmless classroom mischief but it is threatening to wreak serious damage on Spain, England’s rivals to host the 2018 World Cup. It was confirmed yesterday that the Spanish member of Fifa’s executive committee, Angel Villar Llona, passed a note to his Qatari colleague, Mohamed bin Hammam, (right) during a [...]
Nokia and Apple lose sales to cheap Chinese phones November 10, 2010 NOKIA and other established handset makers are quickly losing global market share to a push by Chinese no-brand vendors into emerging markets, research firm Gartner said. Surging growth of no-brand manufacturers coupled with growing smartphone sales boosted third-quarter mobile phone sales 35 per cent, Gartner said yesterday. But Nokia saw its marketshare slip from 44.6 [...]
HMV lifted by Russian buyer November 10, 2010 HMV Group saw its shares rise yesterday after Russian billionaire Alexander Mamut upped his stake to above three per cent. The company’s stock had slumped 49 per cent this year as the DVD and CD seller, which also owns Waterstones, hit tough times. HMV has been moving into live music events and venues as it [...]
Carlsberg hit by rising input costs in 2011 November 9, 2010 Carlsberg, the world’s fourth-largest brewer, yesterday reported a 26 per cent rise in third-quarter operating profit, but lost market share in Russia and warned of rising input costs in 2011. The maker of Carlsberg, San Miguel, and Kronenbourg raised its 2010 view on key market Russia, where it is market leader, to a mid-single digit [...]
Adidas sets out ambitious target to overtake Nike November 8, 2010 German sporting goods company Adidas aims to grow sales to €17bn (£14.6bn) by 2015 as it strives to overtake market leader Nike. “Our aspirations are to outperform total market growth… to outgrow our major competitor and have the bottom line grow faster than the top line,” chief executive Herbert Hainer said yesterday in a presentation [...]
McDonald’s US unit weakens November 8, 2010 McDonald’s yesterday reported a weaker-than-expected rise in October sales at US established restaurants as high unemployment keeps plaguing the world’s largest hamburger chain’s key domestic market. October sales at restaurants open at least 13 months were up 5.6 per cent in the US but missed some analysts’ estimates. Despite the macroeconomic weakness that has dented [...]
There’s still no such thing as a free lunch November 7, 2010 MILTON Friedman said that there is no such thing as a free lunch, but even he might have been surprised by the cost of a meal today. World food prices have soared back up to levels last seen in the crisis of 2007-2008, leading some to warn of renewed food riots. Russia recently extended its [...]
Growth in China on the cards at Boots November 7, 2010 HIGH STREET health and beauty retailer Boots hopes to make headway in China when its executive chairman travels to the country as part of David Cameron’s first official visit as Prime Minister. Stefano Pessina has reportedly organised talks with potential partners in Beijing and Shanghai while he is in the country, as part of a [...]