RAPID RESPONSES July 10, 2012 Top level failure [Re: Osborne and Tucker have both been damaged by Libor row, yesterday] I’m staggered that both Paul Tucker and Bob Diamond didn’t take notes of their telephone conversations, or indeed have them recorded. Under Financial Services Authority regulations, many of us have to. We’d get fined or disbarred if we didn’t. Quentin [...]
City veteran Mayhew to step down as chairman of Cazenove November 28, 2011 DAVID Mayhew, one of the City’s best-connected bankers, is to step down as chairman of JP Morgan Cazenove after 42 years with the blue-chip firm. Mayhew’s name has become synonymous with the Queen’s stockbroker, which sold itself to US banking giant JP Morgan in 2009, and his resignation will draw the curtain on an era [...]
M&S shakes up management as sales slump July 10, 2012 MARKS & SPENCER announced a raft of management changes yesterday and confirmed that its head of general merchandise Kate Bostock is to leave, as the retail giant revealed its worst quarterly sales figures in years. The company said Bostock will be leaving by mutual consent on 1 October and will be succeed by John Dixon, [...]
BEST OF THE BROKERS November 27, 2011 CABLE AND WIRELESS Investec rates the telecommunications firm “buy”, with a target of 53p, down from 59p. The broker says that despite a lack of interest from buyers after its poor first half results there is growing interest from other UK telecommunications companies. The company’s woes stem from poor management, the broker says, and the [...]
M&S in clothes recycling drive April 26, 2012 ■ Marks & Spencer yesterday launched a new sustainability drive, asking its customers to start “shwopping”, by donating unwanted clothing every time they buy something new. Actress Joanna Lumley helped the retailer kick off the initiative yesterday at a Brick Lane warehouse decorated with 9,513 pieces of clothing – the amount that goes to landfill [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 27, 2012 FINANCIAL TIMES Hague presses for audit on EU law William Hague, the foreign secretary, wants to launch a comprehensive audit of the impact of European Union law on Britain this summer, an exercise that could fuel a Conservative drive to repatriate powers from Brussels. 4,000 firms under tax investigation More than 4,000 companies are under [...]
Bridgepoint spells out a £49m deal for dictation firm BigHand May 21, 2012 BRIDGEPOINT, the private equity house behind a series of high street names, has bought a dictation technology firm from Lloyds Development Capital in a £49m deal. Its Bridgepoint Development Capital arm has taken a majority stake in BigHand, which works with more than 150,000 professionals such as lawyers, doctors and accountants. As part of the [...]
Market report: FTSE drops after Moody’s downgrade banks June 22, 2012 The FTSE was down this morning following poor global growth forecasts and the decision by credit ratings agency Moody’s to downgrade some of the world’s biggest banks. Last night Moody’s lowered the credit ratings of 15 of the world’s biggest lenders to reflect the risk of losses they face from volatile capital markets. But the [...]
Float looms for growing Metro June 10, 2012 UPSTART lender Metro Bank wants to open seven new branches by the end of this year after completing a £126m capital raising. The high street bank also said it aims to float within two years as its investors consider a lucrative exit. Hedge fund Moore Capital and billionaire investor Steve Cohen are believed to have [...]
LONDON WEEK AHEAD May 20, 2012 GIVEN property developer British Land’s significant presence in the City, its full-year results will be closely watched this morning for signs of how the Eurozone crisis is hitting the company’s retail lettings. Budget airline Ryanair will also release its full-year results, as will outsourcing group Mitie. The spotlight will turn to the UK high street [...]