CITY MOVES WHO’S SWITCHING JOBS October 20, 2009 St Modwen PropertiesThe property group has appointed Katherine Innes Ker, pictured, and Lesley James as non-executive directors. Innes Ker currently holds non-executive directorships at Taylor Wimpey and Tribal Group, while James, who also becomes chair of the remuneration committee, was formerly group human resources director at Tesco and a non-executive at retailers Liberty International and [...]
FTSE hits a high but sale of Barclays shares prompts dip October 20, 2009 Britain’s top shares fell 0.7 percent yesterday, led down by banks after Qatar sold shares in Barclays while weaker-than-expected US data added to the negative sentiment. The benchmark FTSE 100 closed down 38.14 points at 5,243.40, having hit a fresh high for the year at 5,298.54 earlier in the session. Barclays fell 4.8 per cent [...]
A new world of Tesco-style law for all October 20, 2009 SIX artfully stacked cans of baked beans adorn the desk of the Legal Services Board’s first chairman David Edmonds. This isn’t some clever executive desk toy nor is it evidence of a limited culinary imagination. Instead it’s a playful reference to “Tesco Law”, the shorthand for the ongoing liberalisation of the legal profession under the [...]
Why next year will be critical for London’s army of M&A dealmakers October 18, 2009 WHEN Tim Jones, the London managing partner of global law giant Freshfields Bruckhaus Deringer, walks into a room, one is immediately struck by the fact that he still looks every inch the Wales B rugby prop forward he used be. However, as he settles down in one of his firm’s sixth-floor, oak-panelled meeting room, he [...]
Pirc raises concerns over Sky October 15, 2009 BSKYB investors were yesterday urged to oppose the re-election of five of its board members and to vote against the firm’s remuneration report at its annual meeting next week. Investor body Pirc issued an alert expressing its concerns over a lack of independent representation on BSKB’s board, because a number of non-executive directors have links [...]
Banks take FTSE 100 lower after US figures disappoint October 15, 2009 THE FTSE 100 closed lower on yesterday as banks fell after US banking earnings failed to meet some expectations, while miners tracked metal prices down. The index ended down 0.6 per cent, or 33.15 points at 5,222.95, retreating from a 56-week closing high set on Wednesday. Although third-quarter earnings from Goldman Sachs and Citigroup came [...]
Leahy slams education policy October 13, 2009 Tesco chief executive Sir Terry Leahy has launched an attack on the “woefully low” standards of the nation’s schools. Speaking at a grocery conference, Labour’s education adviser accused the government of interfering in schools and distracting teachers from their priority of passing knowledge to children. Tesco hires more school-leavers than any other UK business.
Tesco starts to close gap on faster growing rivals October 13, 2009 TESCO, the UK’s largest retailer, is closing the gap on faster-growing competitors, market researcher TNS WorldPanel said yesterday. TNS, which tracks sales growth in the grocery sector, said sales at Tesco, which has been growing less quickly than rivals in recent months, rose 4.2 per cent in the 12 weeks to 4 October. This was [...]
Banks drag down the FTSE as miners and energy drop October 13, 2009 BRITAIN’S top shares closed 1.1 per cent lower yesterday, as weakness in banks outweighed strength in defensive issues, while sentiment was dampened by falls on Wall Street after disappointing corporate earnings. The benchmark FTSE 100 closed 56.02 points lower at 5,154.15, slipping below the 5,200 level which it hit for the first time in more [...]
Co-operative enjoys mutual benefits October 12, 2009 THE CO-OPERATIVE Group, Britain’s biggest mutually owned retailer, yesterday reported a 17 per cent rise in profits, boosted by strong food sales and acquisitions. The Co-op, which bought rival food retailer Somerfield and the Britannia Building Society earlier in the year, said pre-tax profits had jumped to £229m in the six months to 25 July. [...]