Do as we say, not as we do, says the Mirror January 12, 2011 EDITORS at the Daily Mirror could barely contain their excitement at the coming of bonus season yesterday, splashing their front page on the beleaguered chief executive of RBS, Stephen Hester under the headline “Do the right thing: give up your obscene £3m bonus”. “The Mirror calls on Mr Hester and all the other fatcat bankers [...]
Corporate sales boost Sodexo January 12, 2011 FRENCH caterer Sodexo kept its 2011 goals for higher sales and profits, despite North American unemployment, a struggling public sector in Europe, and rising food prices that make the economic climate challenging. The world’s second-biggest catering services company after Britain’s Compass Group posted a 10.5 per cent rise in fiscal first-quarter sales yesterday. Sodexo benefitted [...]
German 2010 growth fastest since reunification January 12, 2011 Germany’s economy rebounded last year at its fastest rate since reunification, official figures have shown. GDP has bounced back at a rate of 3.6 per cent this year after slumping to its deepest post-war trough last year, preliminary Federal Statistics Office data showed. In 2009, German GDP shrank by 4.7 per cent, the biggest recorded [...]
Clubs dodge Twitter foul-ups January 11, 2011 LONDON’S leading clubs are warning their players about the perils of using Twitter as the Football Association begins to clamp down on social media. Premier League stars are increasingly bypassing press officers and their own representatives to engage with fans on Twitter, with Arsenal captain Cesc Fabregas a regular on the micro-blogging site. However, the [...]
Tesco names incoming UK team January 6, 2011 RETAIL giant Tesco yesterday named the eight-man team to lead its UK operation from March, reporting to new UK chief executive, Richard Brasher. Noel Robbins becomes chief operating officer, alongside new commercial directors Per Bank, and Laura Wade-Gery. Kevin Grace becomes property director; David North will become corporate affairs director and Judith Nelson personnel director. [...]
Citigroup wins $18m raid lawsuit brought by Oppenheimer January 5, 2011 US BROKERAGE Oppenheimer & Co has lost its eight-year battle to force Citigroup to pay over $18m (£11.6m) for luring away nine of its top financial advisers. A Financial Industry Regulatory Authority panel rejected claims from Oppenheimer that Citigroup conducted an unlawful “raid” on its brokerage business shortly after it was sold to New York-based [...]
Lib Dems gear up for a bumpy ride with Cable on the ropes December 21, 2010 EVEN as the story of business secretary Vince Cable’s indiscretions broke late on Monday, campaigners linked with the the office of Liberal Democrat deputy leader Simon Hughes were frantically sending out press releases. Surely an example of an impressive scale-up of the famously scatty Lib Dem media operation? Er, not quite. “Don’t use King’s Stairs [...]
The City is back but under new management December 21, 2010 BRITAIN’S financial landscape has been transformed since we last shone a light on the City’s most powerful figures two years ago. The City A.M./CityJet Power Hundred 2011 list ranks the most influential figures in UK finance as we head into the new year. It should be no surprise that it is very different from 2009. [...]
UK public borrowing hits record high December 21, 2010 UK public sector net borrowing unexpectedly surged in November to the highest level ever recorded, official figures have shown. The Office for National Statistics said public sector net borrowing, which smoothes some of the monthly volatility in government revenue and spending, came in at a record £22.77bn in November – up from £16.72bn a year [...]
The UK’s largest housebuilder says the road to recovery will be long December 19, 2010 PERSIMMON chief executive Mike Farley is not looking for a magic bullet. The boss of the country’s largest housebuilder is clear that the sector has endured its worst slump since World War Two and faces at least a two-year road to recovery. The industry tends to listen when Farley speaks. Not just because he runs [...]