These are the FTSE companies with the highest and lowest chief executive pay ratios March 15, 2017 With AGM season around the corner, and remuneration set to be a top issue for investors, chief executive pay ratios could again be about to come under the microscope. And while the certain retailers could feel the heat, a number of City firms should be able to rest easy. Pensions & Investment Research Consultants (Pirc) has drawn [...]
Private equity firm Privet Capital cuddles up with Care Bears maker Vivid Toy Group March 14, 2017 Private equity firm Privet Capital has snapped up a toymaker behind Care Bears, Thunderbirds and Moshi Monsters. Vivid Toy Group sells its products to major retailers across the UK, France, Benelux, Germany and the US, including in Tesco, Argos, Wal-Mart, Toys ‘R’ Us and Amazon. Headquartered in Guildford, the firm also has operations in Paris, Frankfurt and [...]
Asda, Morrisons, Sainsbury’s and Tesco are cutting petrol and diesel prices across the UK by up to 2p March 14, 2017 Asda and Morrisons announced yesterday that they are cutting fuel prices by up to 2p a litre across the country, and now Tesco and Sainsbury's are following suit. This will bring unleaded fuel to a new national price cap of 114.7p per litre at Asda's 301 filling stations, while diesel will cost consumers 116.7p per litre. “Over half our forecourts have already reduced the price of [...]
UK oil services companies John Wood Group and Amec Foster Wheeler in £5bn merger deal March 13, 2017 Two UK oil services firms have agreed to a £5bn merger. John Wood Group announced this morning it had agreed a takeover deal for FTSE 250-listed Amec Foster Wheeler. Amec’s share price jumped 18 per cent to £5.76 at the time of writing, while John Wood’s was up eight per cent to £8.10. [stockChart code="AMFW" date="2017-03-13 [...]
Tesco chairman: White men are an ‘endangered species’ on UK boards March 11, 2017 The chairman of Tesco, John Allan, has warned white men everywhere that they are an "endangered species" on UK boards and that to get to the top they are going to have to work "twice as hard" as women and ethnic minorities. Despite sitting three executive boards himself (he is also chairman of Barratt Developments, and [...]
William Hill has named Philip Bowcock its new chief executive March 10, 2017 Philip Bowcock has been named the new boss of William Hill with immediate effect. Previously chief financial officer of the bookmaker, Bowcock has worked as interim chief exec since July 2016. Chairman Gareth Davis said: "Since his appointment as interim chief executive last July, Philip has driven the business forward at real pace and we have seen important [...]
Tesco returns nearly £10m to 140,000 employees after payroll error March 9, 2017 The UK's biggest supermarket will return nearly £10m to 140,000 current and former staff after discovering a payroll error that meant they did not receive the national minimum wage. Tesco said the payments will be up to £40 for each of the employees affected, and that they will be handing out the payments by the end [...]
Morrisons is feeling pretty chill about #Marmitegate, saying price rises will be “minimal” March 9, 2017 The chairman of Morrisons supermarket has reassured shoppers that he will be minimising any price rises on groceries following the Brexit vote. The price of a grocery basket became a source of controversy last year when Unilever demanded higher prices from supermarkets, but Tesco refused – leading to a stand-off that became known as #Marmitegate. But [...]
Morrisons (MRW) share price fell this morning after it reported strong profit and sales growth – here’s how City analysts have reacted March 9, 2017 Shares in Morrisons dipped by 4.6 per cent at the open, after the supermarket reported annual profit and sales growth for the first time in four years this morning. Turnover was up 1.2 per cent to £16.3bn, while profit before tax rose by 49.8 per cent, to £325m, signalling that chief executive David Potts' turnaround is [...]
Morrisons (MRW) share price dips at the open after it reports annual profits and sales growth for first time since 2012 March 9, 2017 Morrisons has reported a 50 per cent increase in profit for the year to 29 January, with turnover and earnings growing despite store closures. The figures Turnover was up 1.2 per cent to £16.3bn, from £16.1bn the year before. Profit before tax rose by 49.8 per cent, to £325m from £217m, while underlying pre-tax profit was [...]