TOP BANKER HIRED TO SPLIT UP ROCK October 27, 2009 SENIOR UBS banker Robin Budenberg is set to be named today as the new chief executive of UK Financial Investments (UKFI), the Treasury unit that manages the government’s holdings in UK banks. Budenberg’s first job will be to oversee the break up of Northern Rock into a “good” and a “bad” bank – a plan [...]
TOP BANKER HIRED TO SPLIT UP ROCK October 27, 2009 SENIOR UBS banker Robin Budenberg is set to be named today as the new chief executive of UK Financial Investments (UKFI), the Treasury unit that manages the government’s holdings in UK banks. Budenberg’s first job will be to oversee the break up of Northern Rock into a “good” and a “bad” bank – a plan [...]
Waitrose benefits as shoppers return to high-end supermarkets September 15, 2009 UK FOOD shoppers are regaining confidence and returning to upmarket grocery chain Waitrose, according to the latest figures. TNS Worldpanel said yesterday that sales at Waitrose were up 11.2 per cent in the 12 weeks to 6 September, outperforming the supermarket sector, which grew by 5.5 per cent. Waitrose also grew its market share to [...]
IT’LL BE ALRIGHT ON THE NIGHT: THE PITFALLS OF LIVE BUSINESS TELLY December 2, 2009 So the countdown is firmly underway; but unfortunately this one doesn’t include an advent calendar or any nice surprises at the end. Or even a man with a beard. I’m talking of course about the Pre Budget Report. The midnight oil may be burning at HM Treasury as they try to work out how to [...]
Bond says no to M&S role October 1, 2009 ASDA chief executive Andy Bond yesterday ruled himself out of the running for the top job at high street retailer Marks & Spencer (M&S). Bond said: “I am not interested. I am not going to M&S. End of story.” M&S has said it will appoint a new chief executive next year, with Sir Stuart Rose [...]
REVOLUTION ON THE BANKING HIGH STREET – KEY POINTS November 3, 2009 ASSET PROTECTION SCHEMERBS:• Will receive a £25.5bn capital injection from government: £13bn upfront; £6bn of discretionary capital; and £6.5bn in a fee taken as capital.• Toxic assets placed in the APS cut from £325bn to £282bn.• RBS must cover first £60bn – not the £42bn that was first envisaged?– of losses on toxic assets in [...]
Recession boosts McBride September 3, 2009 McBride, Europe’s biggest maker of retailer own-brand household products, posted a 34 per cent rise in annual profit yesterday as cash-strapped consumers downgrade in the downturn. The firm, which supplies supermarkets like Tesco and Carrefour with own-label goods ranging from dishwasher tablets to deodorant, said it made operating profit before one-off items and goodwill of [...]
CITY MOVES WHO’S SWITCHING JOBS October 20, 2009 St Modwen PropertiesThe property group has appointed Katherine Innes Ker, pictured, and Lesley James as non-executive directors. Innes Ker currently holds non-executive directorships at Taylor Wimpey and Tribal Group, while James, who also becomes chair of the remuneration committee, was formerly group human resources director at Tesco and a non-executive at retailers Liberty International and [...]
Banking shake-up gives the markets a case of the jitters November 3, 2009 BRITAIN’S top share index fell to its lowest closing level in a month yesterday, led down by banks after shake-ups at Royal Bank of Scotland and Lloyds and poor results from Swiss peer UBS The FTSE 100 closed 67.29 points or 1.3 per cent weaker at 5,037.21, having surrendered the 5,000 level for the first [...]
Banking shake-up gives the markets a case of the jitters November 3, 2009 BRITAIN’S top share index fell to its lowest closing level in a month yesterday, led down by banks after shake-ups at Royal Bank of Scotland and Lloyds and poor results from Swiss peer UBS The FTSE 100 closed 67.29 points or 1.3 per cent weaker at 5,037.21, having surrendered the 5,000 level for the first [...]