Losses deepen at Italian bank Monte dei Paschi May 12, 2014 TROUBLED Italian bank Monte dei Paschi yesterday reported another steep rise in losses, despite hints of a recovery in the country’s economy. The bank lost €174m (£142m) in the first three months of 2014, up 72.3 per cent from the €101m lost in the same period of 2013. Revenue from fees and commissions increased 3.2 [...]
Why Britain must reject Miliband’s arbitrary economic jingoism May 12, 2014 BRITAIN has a proud tradition of putting scientific inventions to commercial use – from the fire extinguisher to Beta blockers, used to treat high blood pressure. Both may be needed to defuse rising political tension over Pfizer’s bid to take over Astrazeneca. Ed Miliband’s shallow resort to populist protectionism threatens the rule of law, and [...]
The man behind BT’s recovery in global business | City A.M. May 12, 2014 WITH all the attention surrounding BT’s push into sport you’d be forgiven for thinking that all the telecoms giant does is home broadband and football matches. But as the telecoms giant’s Global Services boss Luis Alvarez explains, BT’s operations extend to over 170 countries, where it is a market leader in connecting businesses. “We connect [...]
The man behind BT’s recovery in global business May 11, 2014 WITH all the attention surrounding BT’s push into sport you’d be forgiven for thinking that all the telecoms giant does is home broadband and football matches. But as the telecoms giant’s Global Services boss Luis Alvarez explains, BT’s operations extend to over 170 countries, where it is a market leader in connecting businesses. “We connect [...]
Barratt and Derwent benefit from recovery May 8, 2014 BARRATT Developments expects to secure reservations on more than a quarter of next year’s private completions by June as the UK’s housing recovery continues apace. Chief executive Mark Clare said yesterday that rising consumer confidence and better mortgage availability meant sales rates had now reached an “optimum level”, with Barratt registering an average of 0.77 [...]
Perform revenues up by a third May 8, 2014 Digital sports media group Perform yesterday posted a 32 per cent increase in revenues to £56.9m, helped by new Watch And Bet contracts, which offer bookmakers live streaming of sports events. The firm also said Ashley Milton, who currently works for WPP, will be its new chief financial officer.
Work in progress: Time to party? May 8, 2014 There was a time when popstars could be seen opening office blocks in London, while developers threw lavish Cristal ‘n’ caviar evenings to celebrate the sale of £50m mansions. Post-crash, these soirees dried up after they were criticised by some as distasteful in the economic climate. But last week, the Malaysian-owned Battersea Power Station Development [...]
Hall named as Yo Sushi chief May 6, 2014 YO SUSHI appointed former Mitchells and Butlers director Vanessa Hall as chief executive yesterday after revealing a 15 per cent rise in full-year earnings to £9.2m. Hall joined the Japanese chain in September as chief operating officer and will replace Robin Rowland, who will take over as executive chairman after 14 years at the helm. [...]
US corporate results round up May 6, 2014 Shares in Office Depot rise on plan to shut 400 stores in the States Office Depot has raised its forecast for full-year adjusted profit and said it would close at least 400 stores in the United States over two years, sending the office supply retailer's shares up about 15 per cent at the start of [...]
Union suspends Tube strike after last-ditch talks May 6, 2014 A PLANNED three-day strike by London Underground (LU) workers was called off yesterday just hours before it was due to take place, after both sides called a truce. Members of the RMT union were set to walk out at 9pm last night in a row over LU’s plan to close all Tube ticket offices and [...]