FTSE 100 women dine with Vince Cable in bid to highlight female representation on boards March 10, 2015 Vince Cable last night welcomed more than 100 women from the business world to a dinner at Lancaster House, in a bid to convince sceptics that top companies are improving the female representation on their boards. The business secretary’s department says the target of having 25 per cent of FTSE 100 board positions held by [...]
Tidjane Thiam quits Prudential for Credit Suisse: The exit of a chief exec who defied the odds March 10, 2015 Back in 2010, you would never have expected Tidjane Thiam to receive this reaction on his departure from Prudential. An ill-fated acquisition bid left shareholders fuming – the attempt to buy AIA for £21bn saw the insurer lose £373m and Thiam took the blame. On top of that, the Financial Services Authority (FSA) censured him, fining [...]
Credit Suisse faces shake up under new boss Tidjane Thiam March 10, 2015 Credit Suisse is braced for major changes to its investment banking units, as shareholders welcomed the appointment of Prudential boss Tidjane Thiam as chief executive. The incoming boss gave few clues as to his plans at a press conference yesterday, but is expected to cut back investment banking and focus on the traditional core of [...]
Charles Stanley closes in on deal to offload its securities division March 10, 2015 CITY broker and wealth manager Charles Stanley yesterday confirmed it was in exclusive talks with a suitor to sell its securities business. Responding to a report by Sky News that Oriel Securities owner Stifel Financial was the potential buyer, the group confirmed it was in talks, but did not name the potential acquirer. Sky News [...]
Legal & General gets the keys to Salford March 10, 2015 MEDIACITYUK – the new home of Coronation Street and the northern hub of the BBC – has a new landlord in the form of Legal & General Capital. LGC is now a 50 per cent shareholder in the Salford Quays-based media centre, alongside long-standing owner The Peel Group as part of a joint venture, which [...]
Ineos bulks up shale portfolio with IGas deal March 10, 2015 SHALE gas player IGas was boosted yesterday after announcing it is to sell stakes in seven of its licences in the north west of England to chemicals giant Ineos. Shares in the company closed up 15.62 per cent yesterday, after the deal was announced. Ineos is acquiring at least a 50 per cent interest in [...]
John Menzies profits are hit by turbulence at London Heathrow March 10, 2015 AIRPORT services and logistics firm John Menzies said yesterday that operational difficulties at London Heathrow airport will impact its first-half figures this year. Newspaper and magazine like-for-like sales in the distribution division in 2014 were down three per cent. However, the Orbital marketing services acquired in 2012 reported strong growth. The aviation division enjoyed stronger [...]
Uber teams up with UN in a bid to recruit one million women drivers March 10, 2015 Uber has announced plans to create one million jobs for women as drivers by 2020, as it looks to bounce back from negative publicity received in recent months. The taxi app company has partnered with the United Nations to accelerate economic opportunities for women and help them to become more independent. UN Women executive director [...]
Verisk Analytics to enter energy market with Wood Mackenzie takeover March 10, 2015 Data firms Verisk Analytics and Wood Mackenzie are to come together in a £1.85bn deal announced yesterday. Verisk, which specialises in analysis of the insurance market, will purchase Wood Mackenzie from private equity house Hellman & Friedman and other shareholders, using a combination of around $2bn (£1.33bn) in debt and up to $800m in equity. [...]
AstraZeneca chief executive Pascal Soriot gets £3.5m after fending off Pfizer March 10, 2015 The head of drugs giant AstraZeneca was given a £3.5m payday last year after he fought off a hostile takeover bid from Pfizer. Pascal Soriot’s pay packet was up from £3.3m the previous year and consisted of an annual bonus of £1.9m, equivalent to 170 per cent of his base salary, according to the firm’s [...]