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 [...]
Serco awarded train contract May 28, 2014 SERCO, the scandal-hit outsourcing firm, has been awarded a 15-year contract to operate the Caledonian Sleeper service train from London to Scotland. The FTSE 100 firm, which was accused of overcharging on a previous and unrelated government contract, will earn up to £800m in revenue over the contract period, of which £180m will be in [...]
What you need to know before the open May 28, 2014 With the S&P 500 and Dax posting record highs yesterday, today's expected to see a positive open for European markets. With no significant US data, focus will be on German unemployment, which could push the Dax towards to 10,000 level if it continues to come down. Market expectations that the European Central Bank will instigate [...]
Serco awarded Caledonian Sleeper franchise May 28, 2014 International service company Serco, has been chosen to manage a 15-year franchise for the Caledonian Sleeper service, which is set to be run separately from the ScotRail franchise. Serco was selected by Transport for Scotland which aims to transform the service with over £100m being invested in new rolling stock. It is hoped that the [...]
G4S says goodbye to third UK chief in two years May 20, 2014 G4S, the tagging scandal hit security services firm, has lost its third UK chief executive in two years. Eddie Aston, who joined the contract giant from Deutsche Post DHL, has left after just six months in the role, as first reported by the FT’s Gill Plimmer. The company confirmed he left at the end of [...]