BA boss warns coronavirus worse than financial crisis for airlines March 13, 2020 The boss of British Airways (BA) has warned that the coronavirus pandemic will have a bigger impact on the airline industry than the financial crisis. BA chief executive Alex Cruz reportedly told staff that the outbreak is a “crisis of global proportions like no other we have known”. The spread of Covid-19 will force the [...]
Spending like a drunken sailor does not create a thriving entrepreneurial economy March 13, 2020 “If I announced that Budget, the Tories would be jumping up and down,” shadow chancellor John McDonnell said with a smirk yesterday morning. Indeed, Wednesday’s Budget is the biggest giveaway of taxpayer money since 1992. Borrowing will increase by £125bn. Debt will reach a record high at £2 trillion. There was some good news for [...]
Dame Jayne-Anne Gadhia to quit as Salesforce UK boss March 12, 2020 Former Virgin Money boss Dame Jayne-Anne Gadhia is set to quit Salesforce as its executive after just six months at the helm. Salesforce will announce tomorrow morning that Gadhia, who only joined the company last August, will step down as boss of the British business to become an adviser, according to Sky News. A Sky [...]
Putting Six Nations behind a paywall would be ‘dreadful’, says BBC boss March 12, 2020 Any deal to put the Six Nations behind a paywall would be “dreadful” for both audiences and the sport, the BBC director general has said. The tender process for the rugby tournament’s next broadcasting contract is set to wrap up this weekend, but current holders BBC and ITV have been shut out of the bidding. [...]
Poundland sale delayed due to CEO’s illness amid market volatility March 12, 2020 Poundland owner Steinhoff International has reportedly paused the potential sale of its European arm Pepco amid increased market volatility and its chief executive’s leave of absence. Steinhoff announced last year that it was mulling a range of strategic options for Pepco Group, which contains Poundland, including a potential public listing. However the process has been [...]
City Moves for 12 March — Who’s switching jobs at 11:FS, TLT and Rise? March 12, 2020 Today’s City Moves includes 11:FS, TLT and Rise 11:FS 11:FS, the UK-based digital financial services firm, has announced that it is continuing to strengthen its senior executive team with the appointment of Jo Wright as its chief financial officer (CFO). Jo will play a critical role in the firm’s international expansion. She is a chartered [...]
Disney shareholders approve executive pay despite backlash March 11, 2020 Disney has fended off a shareholder revolt over executive pay after a slim majority of investors approved the company’s controversial remuneration plan. A vote on executive compensation, which included outgoing boss Bob Iger’s $47.5m (£37m) pay packet for 2019, passed with 53 per cent of votes at the media giant’s annual general meeting today. Disney [...]
Balfour Beatty confirms delay to £200m share buyback due to coronavirus March 11, 2020 Shares in construction giant Balfour Beatty jumped today, despite confirmation it has scrapped a £200m share buyback. The confirmation comes after Sky News first reported the plan yesterday. Balfour Beatty posted a net profit, although it slipped from £135m in 2018 to £133m in 2019, a drop of 1.4 per cent. This was on the [...]
The Thick of It’s Chris Addison talks about the limits of satire, the trials of being a parent and his new show, Breeders March 11, 2020 He rose to fame as a stand-up comedian and became a household name playing The Thick of It’s hapless SpAd Ollie Reeder. Now, after a spell in Hollywood, Chris Addison is returning to British screens with his new sitcom Breeders, directed alongside Simon Blackwell and starring Martin Freeman. It’s a biting comedy about the sleepless [...]
Debenhams appoints headhunters for new chief executive March 11, 2020 Struggling department store Debenhams has reportedly launched a search for a new chief executive as restructuring expert Stefaan Vansteenkiste prepares to step down after less than a year. Vansteenkiste is set to leave the role within months, after taking over in August, and headhunter Spencer Stuart has been brought in to find a replacement, Sky [...]