FTSE is boosted by banks as stress test fears begin to ease July 7, 2010 BRITAIN’S leading share index ended higher after a choppy session yesterday, driven by a recovery in banking stocks on reassuring comments from US peer State Street and an easing of stress test fears. At the close, the FTSE 100 index was 49.82 points higher, or up 1.0 per cent, at 5,014.82, its high for the [...]
M&S finance boss quits for Punch Taverns May 5, 2010 MARKS & Spencer’s incoming chief executive Mark Bolland received an unwanted welcome gift after his first day at the firm – the resignation of its finance director. Ian Dyson yesterday made the shock announcement that he will leave the firm to become chief executive of Punch Taverns, the UK’s biggest pub chain. Dyson was passed [...]
M&S sees 5pc profit jump as Rose moves on May 25, 2010 MARKS & Spencer yesterday reported a rise in profits as new chief executive Marc Bolland prepared to take over the reins at the high street giant. The figures were the last to be presented by outgoing chief Sir Stuart Rose, who said the handover was going “smoothly”. M&S recorded a pre-tax profit of £632m for [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 6, 2010 FINANCIAL TIMES BARCELONA SEEKS LOAN TO HELP PAY PLAYERS Barcelona, the Spanish football giants whose players will make up the bulk of Spain’s team in Wednesday’s World Cup semi-final against Germany, are seeking a €150m loan to help pay player and staff wages. The move was announced by new Barcelona president Sandro Rosell who took [...]
Blank on the long list for M&S chair May 16, 2010 HEADHUNTERS searching for a replacement to Sir Stuart Rose at Marks and Spencer have earmarked former Lloyds chairman Sir Victor Blank as a potential candidate to chair the board. JCA Group founder Jan Hall is currently putting together a long list of candidates ready for the board to whittle down. Other names that have been [...]
Marks and Spencer May 23, 2010 SHAREHOLDERS were understandably miffed when Sir Stuart Rose announced his intention to stay on as executive chairman of Marks & Spencer. They were told that the power grab would ensure an smooth transition when Rose stood down; the succession at Britain’s favourite retailer has been anything but. New chief executive Marc Bolland has arrived, but [...]
Bolland takes the helm as M&S chief May 4, 2010 A NEW era was ushered in at Marks & Spencer yesterday as former Morrisons chief Marc Bolland took the hot seat at the retailer. The Dutch executive faces the pressure of living up to a £15m remuneration package as he takes on the challenges of shaking up the company’s clothing range. Modernising the stock while [...]
M&S agrees to £800m pension scheme injection May 12, 2010 RETAILER Marks & Spencer will pump £800m into its final salary pension after a review found the scheme was deeply in the red, it said yesterday. The clothing and food group said the scheme, which has about 123,000 members, had a deficit of £1.3bn at 31 March 2009, although that is likely to have since [...]
The grocer who says this year will test retailers as well as shoppers May 31, 2010 Much like the rest of the country, the chief executive of the country’s third largest supermarket group is trying to make up his mind about the coalition government. At the start of the election campaign Sainsbury’s boss Justin King was one of many who backed Tory plans to scrap national insurance hikes for employers, a [...]
FORMULA ONE CHIEF UNLEASHES TAX FURY July 7, 2010 WITH all the hubbub about capital gains tax rates in the run-up to the recent Budget, investors are no stranger to vituperative attacks on their profits, but it does come as a surprise when the abuse comes from someone who’s supposed to be on their own side. The latest high-profile character to get vocal about [...]