New Carlsberg CEO seeks cure for hangover February 18, 2015 DANISH brewing giant Carlsberg yesterday appointed a new chief executive, but warned that ongoing geopolitical problems in Russia and Ukraine would hit revenues again this year. Cees ‘t Hart, the Dutch CEO of dairy firm FrieslandCampina, will take the reins at Carlsberg in June. He will replace incumbent Jorgen Buhl Rasmussen, who turns 60 this [...]
FTSE up on hope that Bank will keep rates low – London Report February 17, 2015 Britain’s top share index yesterday climbed to a five-month high on expectations that the Bank of England would keep interest rates down, after data showed inflation sank to a record low in January. The annual inflation rate fell to 0.3 per cent last month from 0.5 per cent in December, official data showed, largely reflecting [...]
Tesco to cut up to 10,000 jobs amid overhaul February 15, 2015 Tesco could cut up to 10,000 jobs as part of a radical overhaul by chief executive Dave Lewis aimed at halting a slide in profits. Britain’s biggest supermarket, which employs around 314,000 staff, announced plans last month to save £250m a year by axing 43 unprofitable stores, shelving 49 new projects and closing its [...]
Tesco pays out £1.2m to former chief executive February 3, 2015 TESCO has reluctantly agreed to hand over more than £2m in payments withheld from its former chief executive and former chief financial officer in the wake of last year’s shock £263m profit scandal. Britain’s biggest supermarket said yesterday that it will pay Philip Clarke £1.22m and Laurie McIlwee £970,880 in “liquidated damages” after lifting suspensions [...]
Fifa presidency: How brands can stop the beautiful game turning sour January 31, 2015 That there is something unsavoury at the top of world football would appear to be beyond doubt, it’s just that it seems most people are powerless to do anything about it, and the situation is rapidly falling into farce, with the likes of David Ginola and now Luis Figo threatening to make bids for the [...]
TheTrainline.com boss Clare Gilmartin “delighted” as US private equity giant KKR snaps up rail ticket seller January 22, 2015 US private equity player KKR yesterday announced its acquisition of TheTrainline.com, the UK’s leading online platform for selling rail tickets, from buyout rival Exponent for an undisclosed sum. TheTrainline.com is the most downloaded travel app in the UK and ranks fifth by gross transaction value in the UK’s e-commerce sector. The company is licensed to [...]
11 of the world’s 100 most sustainable companies are in the UK: Marks & Spencer, BT, and the London Stock Exchange January 22, 2015 The UK is home to 11 of the world's 100 most sustainable companies with Marks & Spencer, BT, and the London Stock Exchange all making it into the prestigious ranking. The other UK-based companies listed were Reckitt Benckiser, Centrica, Unilever, British Land, Sky, Pearson, BG Group and Electrocomponents. Each year media company Corporate Knights produces the ranking which measures companies' sustainability in terms [...]
Davos: Who will be at the World Economic Forum? January 20, 2015 THE WORLD’S elite will gather in Davos today for the World Economic Forum, as business, politics and celebrity converge in the name of global development. The biggest name of the year making a splash at Davos is William Adams (aka Will.I.Am), but fellow singer Pharrell will also be bringing a little happiness to Switzerland. It’s [...]
Unilever sales disappoint after China slowdown January 20, 2015 CONSUMER goods giant Unilever reported lower-than-expected fourth quarter sales yesterday as it continued to grapple with a slowdown in demand for its products in emerging markets, particularly in China. The owner of Lipton tea and Dove soap said like-for-like sales rose by 2.1 per cent in the fourth quarter, in line with the third quarter, [...]
Chinese growth data pushes FTSE 100 higher – London Report January 20, 2015 MINING stocks boosted the FTSE 100 yesterday, after Chinese data beat expectations which pleased mining companies that export to the country, although a tepid outlook from Unilever kept confidence in check. The FTSE 100 index closed 0.5 per cent higher at 6,620.10 points, after earlier reaching its highest point since the start of 2015 at [...]