Serco share price dips as outsourcing firm writes down value of some contracts July 3, 2014 Beleaguered outsourcing firm Serco yesterday warned that it would have to write down the value of several large loss-making contracts, which could hamper its full-year results. Shares in the FTSE 250-listed company dipped almost one per cent on the news, with UK contracts for asylum seeker housing and clinical healthcare set to be among the [...]
Bottom Line: Shareholders need Churchillian spirit July 3, 2014 NEWS of Rupert Soames’ appointment as Serco chief executive cheered the market back in February, sending the scandal-struck outsourcing firm’s share price up more than 10 per cent. With his impressive lineage as Sir Winston Churchill’s grandson and his remarkable track record at the helm of Aggreko, Soames inspired confidence in Serco’s investors that he [...]
Institute of Directors’ summer party an alternative to Cool Britannia June 30, 2014 It was a remarkably wintery night at for the Institute of Directors’ summer party on the Parliament Terrace Pavilion yesterday evening but it certainly did not stop play. Attendees may not have been at David Cameron’s Cool Britannia party, but the aforementioned event didn’t go without a nod. “David Cameron is busy hosting a party [...]
Glastonbury no longer just for hippies as City gets ready to party June 26, 2014 Once the reserve of hippies and staunch lefties, Glastonbury has started to appeal to a much wider audience, with luxury winnebagos for £8,250 a pop for those not in favour of pitching tents. This year, we’re expecting Glasto regulars RLM Finsbury founder Roland Rudd, Deloitte head of property Andy Rothery, Serco’s newbie chief Rupert Soames [...]
London Report: Economic data to confirm rapid growth this year June 23, 2014 FIGURES released this week are expected to confirm that the economy grew at the fastest rate in nearly four years in the first quarter of 2014. Office for National Statistics (ONS) data, due out on Friday, will give the third estimate of output, and is expected to increase its original 0.8 per cent reading for [...]
New Serco boss Rupert Soames reins in overseas arms June 18, 2014 Serco’s new boss Rupert Soames yesterday put his stamp on the embattled firm, bringing more control of the outsourcer’s overseas businesses back to the UK and announcing a split from its rail partner after more than a decade. The company’s head of Africa, Middle East, Asia and Australasia will step down as part of the [...]
Transport for London looks for £3.5bn of commercial revenues June 2, 2014 TRANSPORT for London (TfL) has begun searching for a new sponsor of the city’s bicycle hire scheme, hoping to bring in more money and a long-term partner following Barclays’ departure. The Mayor of London, Boris Johnson, has written to 200 of TfL’s biggest advertisers to gauge interest in sponsoring the bicycles, which were launched on [...]
British Gas boss Weston hired as Aggreko chief May 29, 2014 CENTRICA yesterday confirmed that the head of its supply arm British Gas will be leaving to join Aggreko, meaning that it now has to find replacements for its top three executives. The FTSE 100-listed energy giant said that Chris Weston has tendered his resignation to become chief executive of Aggreko, the temporary power provider, subject [...]
Centrica loses MD for the top job at Aggreko May 29, 2014 Aggreko, the temporary power hire company, has appointed Chris Weston as its new chief executive officer, confirming reports leaked last night. He has handed in his resignation at Centrica, where he was managing director of the company's international downstream division. Weston will replace Rupert Soames, who has taken the top job at Serco, after 11 [...]
Centrica set for major shakeup May 28, 2014 BRITISH Gas managing director Chris Weston is to step down this week, and is now reportedly in advanced talks to take over as chief executive of Aggreko. The move would indicate that a major reorganisation is in the offing at Centrica, the parent company of British Gas. Chief executive Sam Laidlaw is also said to [...]