Standard Chartered chief executive Bill Winters is shifting power abroad June 25, 2015 Standard Chartered's new chief executive Bill Winters is planning a structural shake-up of the bank, which includes handing over power to the bank's regional zones. Read more: Standard Chartered share price rises following appointment of Bill Winters as chief executive The London-listed bank operates in over 70 countries, but has some key regional hubs, [...]
Standard Life to shut down Singapore arm June 25, 2015 Standard Life is closing its insurance business in Singapore, swallowing a £45m loss, it revealed today. The FTSE 100 company said the closure would go ahead subject to regulatory approvals, but that it was now no longer accepting new applications or contributions to existing plans. Customers in Singapore will be contacted with an [...]
Afren’s share price soars as it reveals entire board is stepping down at today’s AGM June 25, 2015 Afren's share price jumped nearly 20 per cent this morning after it emerged the entire board, including chairman Egbert Imomoh, will step down after today's AGM. As well as Imomah, Toby Hayward, Patrick Obath, Sheree Bryant and Iain McLaren will not stand for re-election as directors. Imomah said: "The past year has been [...]
ITV continues buying spree with £55m acquisition of Educating Yorkshire producer Twofour June 24, 2015 ITV has bought Boom Supervisory Limited, the holding group of production company Twofour for £55m, as part of its ongoing strategy to build its original content business. Read more: ITV buys Poldark producer Mammoth Screen to bolster original drama assets Plymouth-based Twofour has produced a number of hit shows for Channel 4 including Educating Yorkshire, The Jump [...]
SuperGroup confirms Wharton as chief financial officer after previous finance head was made bankrupt June 24, 2015 SuperGroup, the parent company of young fashion label SuperDry, has upgraded its interim chief financial officer Nick Wharton to a permanent role. Wharton, who now joins the board had been acting in the role since 25th February, when he joined from Dunelm where he was chief executive. He had been parachuted in after [...]
New FCA and PRA bonus clawback rules: The UK now has the toughest bank pay rules in the world June 23, 2015 New rules to claw back bankers’ bonuses for up to 10 years threaten to undermine London’s appeal to international financiers, consultants warned yesterday, in the latest salvo against big banks from UK regulators. Read more: Bank bonus clawback extended to 10 years by UK regulators The clawback rules comes amid growing tensions between [...]
FTSE 100 riding high as Greek deal fuels Eurozone – London Report June 23, 2015 Britain’s top share index edged higher yesterday, lagging a Greece-fuelled rally in Eurozone shares as weak results from outsourcing company Bunzl dragged on gains. There was also little cheer from the Confederation of British Industry’s (CBI) monthly industrial trends survey, which showed British factory orders grew this month at their weakest pace in almost two [...]
Analysts warn that Ladbrokes – Gala Coral mega merger odds on for competition issues June 23, 2015 Analysts are warning that Ladbrokes' multi-million pound merger with Gala Coral could have to jump serious competition hurdles. The combined company would command 4000 retail shops – about 45 per cent of the UK market – and give the group much better odds in the online gaming space too. The retail position in [...]
BT Sport and Ericsson team up for new Champions League channels June 23, 2015 BT Sport has selected Ericsson to design, build and run the technology behind a variety of new products, as it ups its game in live sports, having won the Champions Leagues broadcasting rights. Ericsson will work on BT's three new sports channels, BT Sport Europe, BT Sport Showcase, and BT Sport ultra high definition, which [...]
Afren’s share price has mysteriously shot up 82 per cent June 23, 2015 Shares in embattled oil producer Afren closed up 59.33 per cent to 2.39p per share today – however nobody knows why. Earlier today pundits had taken to Twitter in a guessing game after the oil producer's share price mysteriously shot up as much as 90 per cent to 2.78p per share. The jump is particularly surprising [...]