What the other papers say this morning – 05 December 2013 December 4, 2013 FINANCIAL TIMES US business chiefs want budget deal Chief executives of big US companies are warning that the country faces another year of sluggish growth, expressing hope that a deal over the budget being discussed in Congress will kick-start the economic recovery. Jim McNerney, chief executive of Boeing and chairman of the Business Roundtable, said [...]
London Report: Utilities drag on FTSE as energy profits debated February 10, 2014 FRESH political pressure on British utilities hit the sector’s stocks yesterday, limiting broader gains in the UK’s top equity index although it rose for the fourth straight session. The blue-chip FTSE 100 index closed up by 0.3 per cent, or 19.87 points, at 6,591.55 points. Gains at British bank Barclays and drugmaker AstraZeneca together added [...]
New chief raises his holdings in Cable & Wireless January 6, 2014 CABLE & Wireless Communications (CWC) new chief executive Phil Bentley kicked off his first week in the job with the purchase of 4.3m shares in the company, which would have cost him around £2.5m. The purchase is about three times his basic salary of £800,000 and doubles the 4.3m shares he was awarded. “Bentley has [...]
Subsidy fears as UK inks nuclear deal with China October 17, 2013 THE COALITION’S nuclear plans gained further momentum yesterday, after chancellor George Osborne said Chinese companies are allowed to buy a stake in British nuclear power plants. But it is thought that any deals will include indirect price subsidies that could trickle down to taxpayers over the 35-year life of the plant. Osborne made the announcement [...]
Poundland hires retail veterans to propel float February 18, 2014 DISCOUNT retailer Poundland yesterday unveiled a heavyweight board lineup and its first female non-executive director as part of plans to float on London’s stock market next month. The Birmingham-based company, which currently has around 500 stores, has recruited former Travelodge chief executive Grant Hearn and Merlin Entertainments group HR director Tea Colaianni, who will become [...]
London Report: Supermarkets help to push FTSE down amid thin trading December 18, 2013 THE UK’s main equity index steadied in thin trade yesterday, with investors cautious before what is seen as a tight policy decision by the US Federal Reserve, and with a sell-off in retailers putting a lid on any gains. Strong US data, including yesterday’s forecast-beating housing starts, has fuelled expectations that the Fed could scale [...]
British Gas blames regulation for 9pc hike in energy bills October 17, 2013 THE UK’S energy debate was ignited again yesterday, after British Gas said it would be raising customers’ bills by 9.2 per cent from 23 November – adding £104 on to the average annual dual fuel bill – and blamed the government’s green initiatives for almost half of the increase. Centrica, which owns the big six [...]
Ex-British Gas boss to head up telecoms giant October 17, 2013 FORMER British Gas boss Phil Bentley has joined Cable & Wireless Communications as the telecoms group’s new chief executive. Bentley stepped down from British Gas in February to pursue his ambition to become a chief executive, after it became clear he was not in the running to take the top job at parent company Centrica. [...]
First Utility partners with Shell to bring down its energy costs December 9, 2013 IN A bid to break the stranglehold of the big six, independent energy supplier First Utility yesterday said it has secured a partnership with Shell Energy to get better deals from the wholesale market. Under the new five to 10 year deal, energy giant Shell will act as an intermediary for First Utility, using its [...]
Centrica’s residential energy profits heat up February 27, 2013 Centrica, the utility company, has released results for the full year to the end of December (results) and have announced a headline 11 per cent increase in profits in residential energy supply. Phil Bentley is to step down as managing director of British Gas by the end of June and will leave the company by [...]