More boardroom shake-ups at Tesco and Marks & Spencer March 4, 2015 THE BOARDROOM clear out at supermarket giant Tesco continued yesterday, while high street icon M&S announced a new board role for its current chairman. Tesco, the UK’s biggest retailer, said non-executive director Gareth Bullock would retire from the main board today, but remain on the board of Tesco Bank. The company beefed up its board yesterday [...]
Richard Gillingwater steps down from Morrisons board March 4, 2015 SSE chairman-to-be Richard Gillingwater has decided to step down from the board of Morrisons, the supermarket announced today. Gillinwater, who was appointed to the board just two years ago, will step down from the post at the next annual general meeting in June. Today, he alluded to the supermarket's recent struggles to compete with discounters. [...]
Tesco hires BP vice president Byron Grote March 4, 2015 BP director and vice president Byron Grote is joining Tesco's board as the troubled supermarket looks to bolster its financial experience. Grote, who has been at BP since it acquired Standard Oil of Ohio in 1987, joins the Tesco board on May 1 as a non-executive director. The grocer said he brought “extensive executive [...]
British Land buys up Surrey Quays plots in Canada Water for £135m March 2, 2015 Developer British Land said yesterday it has bought the last of the sites for its £2bn regeneration project in Canada Water – paying £135m for Surrey Quays Leisure Park from Aviva Investors. The FTSE 100 developer has quietly amassed over 50 acres of land in Canada Water over the last five years and is spending [...]
Buffett reveals new Berkshire has been chosen March 1, 2015 WARREN Buffett has ruled out spinning off Berkshire Hathaway into separate businesses, in his annual letter to investors. Buffett also revealed a successor has been chosen to fill his shoes and addressed the firm’s stake in Tesco which he previously called a “huge mistake”. This year celebrating the firm’s golden anniversary, Buffett’s highly anticipated 14-page [...]
The five best quotes from Warren Buffett’s annual letter to Berkshire Hathaway shareholders on its golden anniversary March 1, 2015 Warren Buffett often has sage wisdom to share with investors – not least in his annual note to Berkshire Hathaway shareholders. This year’s golden anniversary address concerned a misty-eyed reminiscences of fifty years of the company, it’s ups and downs (mostly ups) and the future 50 years ahead. The note is also full of pearls [...]
Warren Buffett annual letter for golden anniversary: Spin offs, successor CEOs and selling Berkshire Hathaway’s Tesco stake March 1, 2015 Warren Buffett has ruled out spinning off Berkshire Hathaway into separate businesses, revealed a successor has been chosen to fill his shoes and addressed the firm’s stake in Tesco which he previously called a “huge mistake”, in his annual letter to investors. This year celebrating the firm’s golden anniversary, Buffett's highly anticipated 14-page letter reminisced [...]
From Greece and Natalie Bennett to the banks and London’s skyline: Here’s what got us talking this week February 27, 2015 There was a lot of talk about a dress. And quite a bit about the llama drama. But here at City A.M. Towers, we were obsessing about plenty of other things. Greece finally managed to break the stalemate over its debt, negotiating a four month extension with Germany, and ending weeks of debate about a [...]
Tesco risks Cable’s wrath as two women step down from board February 26, 2015 TWO OF Tesco’s three female board members are leaving the troubled supermarket. Jacqueline Tammenoms Bakker, who has been a director for six years, will retire at the end of Tesco’s financial year, which is on Saturday. Olivia Garfield is stepping down at the same time, after nearly two years at Tesco, to concentrate fully on [...]
StanChart’s new man lifts FTSE to a record level – London Report February 26, 2015 Britain’s top equity index yesterday hit a record closing high – for the second time this week – helped by a surge in the share price of the Asian-focused bank Standard Chartered. Standard Chartered advanced by 5.4 per cent as traders welcomed its appointment of a new chief executive, former JP Morgan investment bank boss [...]