Green appoints chief exec to run clothing empire Arcadia October 22, 2009 RETAIL magnate Sir PhilipGreen yesterday appointed a full-time chief executive to run clothing business Arcadia. Green said he had hired Ian Grabiner, Arcadia’s chief operating officer, as chief executive, as he warned of a tough Christmas on the high street. And the tycoon – who is adamant that the shake-up will not see him take [...]
THE LONDON REPORT October 22, 2009 The FTSE 100 closed one per cent, or 50.49 points, lower yesterday at 5,207.36, as weaker crude and metals weighed on energy stocks and miners. The index has rallied more than 50 per cent since hitting a low in early March, and is up 17 per cent this year. Energy stocks suffered with crude slipping [...]
Standard Life names Nish as its new chief October 19, 2009 STANDARD Life has put an end to months of speculation over who will take over from veteran chief executive Sir Sandy Crombie by naming finance director David Nish as his successor. Nish, 49, had been seen as the most likely candidate to take the job since it emerged that veteran Crombie was to retire from [...]
Barclays’ Diamond snubs top job interview with Bank of America October 19, 2009 BARCLAYS Capital president Bob Diamond snubbed an opportunity to be interviewed for the top job at Bank of America (BoA), City A.M. can confirm. Diamond was approached by BoA’s board and asked if he would be interested in replacing outgoing chief executive Kenneth Lewis. But he refused because “he’s got a great opportunity where he [...]
Timing is everything when you choose to study for an MBA October 14, 2009 RESOLVING to take significant time out of your career to study for an MBA is one of the biggest decisions you can take, and one that involves a whole host of other choices – what kind of MBA to take, what school and even what country to study it in, and, perhaps most importantly, when [...]
J&J sees a profit rise, as sales dip October 13, 2009 Johnson & Johnson, the US healthcare firm, posted weaker-than-expected quarterly sales yesterday as sales of prescription drugs and cardiac stents disappointed. While third-quarter profit topped analyst forecasts, that was largely because of cost cuts and lower taxes. Generic competition and safety concerns have undermined sales of many major products for the firm. Anaemia medicine Procrit, [...]
Let’s unleash the human spirit to create and build October 12, 2009 Whatever else you may want to say about Barack Obama’s award of the Nobel Peace Prize, it is clearly a nod to the enormous power of language as a healer of divisions. Time will tell whether he stops the fighting in Israel, discourages Iran from bomb plans, engages effectively with the Muslim world, heals the [...]
WHAT THE OTHER PAPER SAY THIS MORNING October 11, 2009 THE SUNDAYSThe Sunday TelegraphBORIS JOHNSON WARNS EU TO KEEP OUT OF THE CITYBritain’s financial sector, which creates billions of pounds in revenue for the Treasury, is under threat from European legislation and an increasing tax burden on high-earning individuals, a report from the Mayor of London’s office says. The report, released this week, says that [...]
When it comes to the crunch, this is too trite October 8, 2009 TheatreTHE POWER OF YESThe National Theatre*** “THIS is not a play,” the narrator announces ominously as the curtains open. Instead it is a “story” of the credit crunch conducted through interviews with key financial figures, including mathematician Myron Scholes (Malcolm Sinclair) co-father of the Scholes-Black option-pricing model which underpinned much financial wizardry, FSA head Adair [...]
Jaguar gets 500m new bank funding October 7, 2009 BELEAGUERED carmaker Jaguar Land Rover (JLR) yesterday revealed it has secured £500m of new funding, easing the pressure on the company after a dramatic slump in car sales during the recession. JLR, which is owned by India’s Tata Motors, said the monies included a £175m loan from the State Bank of India and a new [...]