CITY MOVES | WHO’S SWITCHING JOBS October 4, 2010 Yell Group The company behind the Yellow Pages has appointed Tony Bates as chief financial officer, effective from 22 November. He will also take up the role of executive director from 1 November. Bates, 54, served as chief operating officer at Colt from 2002 until the end of July. Before this he was with record [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 21, 2010 FINANCIAL TIMES MOVES TO WEAKEN YEN NOT OVER, SAYS KAN Japan stands ready to intervene again in foreign exchange markets, but also plans to put in place broader economic and monetary policies that will help to weaken the yen, according to Naoto Kan, the prime minister. Mr Kan stressed that Tokyo’s yen-selling intervention last week [...]
We need real reforms as well as cuts September 14, 2010 IMAGINE a failing, near-bankrupt corporation, saddled with out of control and deeply inefficient subsidiaries. A new management team has just been sent in. The previous incumbents failed miserably; the firm’s divisions are loss-making, following their own insular agenda and producing poor products at too high a cost. In the private sector, the solution would be [...]
Connaught in administration September 7, 2010 TROUBLED social housing repair firm Connaught put most of its business into administration yesterday, after its lenders refused to further fund the company. The FTSE 250 component said last night that its public sector business will be put into the hands of administrators KPMG, though its environment and compliance arms will remain in operation. The [...]
FTSE gains ground as mining shares are lifted by US data August 31, 2010 BRITAIN’S top shares closed up yesterday as miners gained on firmer US economic data which eased investor anxiety on the global economic recovery, while ARM Holdings jumped on renewed takeover talk. The FTSE 100 gained 23.66 points, or 0.5 per cent at 5,225.22, adding to the 0.9 per cent gain on Friday, as UK traders [...]
Markets fall as fears over economic recovery mount August 31, 2010 The FTSE 100 dropped today (Tuesday) led by falls in risk sensitive assets such as banks and commodity stocks as fears intensified over the sustainability of the global recovery. The index shed 61.37 points, or 1.2 per cent at 5,140.19, erasing the 0.9 per cent gain on Friday, as traders returned after the Bank Holiday [...]
Breeden hurt as Xchanging PR push fails August 25, 2010 HEDGE fund boss Richard Breeden was burned by a second support services company yesterday as a badly-timed PR move by Xchanging wiped 11 per cent from its market value. Breeden European Partners saw £158m shaved from its stake in the outsourcing provider as nervy investors fled the stock. Just a fortnight ago, Breeden crystallised a [...]
Serco bullish on outlook August 25, 2010 OUTSOURCING giant company Serco posted a 21 per cent increase in half-year pre-tax profit and said government spending cuts would boost sales in areas where outsourcers would be hired to achieve savings. Serco, which runs Boris Johnson’s new cycle hire scheme, said yesterday pre-tax profit for the first half to 30 June was £101.4m, against [...]
CITY MOVES | WHO’S SWITCHING JOBS August 19, 2010 Permira The European private equity company has appointed Wulf Bernotat, the former chief executive of energy giant E.ON, as a senior adviser. Bernotat is one of Germany’s most experienced businessmen and retired from his position at E.ON in April this year. He is also a member of the supervisory boards at Metro, Allianz, Deutsche Telekom [...]
FTSE falls to lowest level in a month on US jobless figures August 19, 2010 BRITAIN’S top share index fell to its lowest close in a month yesterday, as weak US labour and other data cast further doubt on the strength of the global recovery and as oil stocks fell on lower crude prices. The FTSE 100 fell 91.58 points, or 1.7 per cent, to 5,211.29 points, the lowest close [...]