Barclays is still months from hiring new chief executive after Antony Jenkins sacking July 14, 2015 Barclays, which abruptly sacked chief executive Antony Jenkins last Wednesday, might have to wait six months for a permanent replacement. The bank’s deputy chairman Sir Mike Rake told City PM yesterday: “We will take the time to find the person with the right level of experience. It will take a few months, but we would [...]
Strong UK job market boosts profit for recruiter Michael Page July 14, 2015 A booming British jobs market has raised the earnings of recruiter Michael Page. Over the first half of the year its UK gross profit was 12 per cent higher compared with the same period last year, the company said yesterday. “The market has been consistently strong all year, with good levels of demand and candidate [...]
FirstGroup off track after UK franchise losses and drop in oil prices July 14, 2015 Rail and bus company FirstGroup has warned its revenue is likely to disappoint in the year ahead after the loss of key UK contracts while low oil prices hit business in North America. Its UK rail division recorded like-for-like passenger revenue growth of 6.3 per cent in the three months ending 30 June. But it said [...]
Dairy Crest finds the right baby formula as project nears finish line July 14, 2015 Dairy Crest said yesterday that is was near to completing a project to make two crucial ingredients found in baby formula that it seeks to sell into the £7bn Chinese market. The Cathedral cheese-maker struck a deal with New Zealand dairy giant Fonterra last year to sell whey – the key ingredient in baby formula [...]
Derwent London buys back 1 Oxford Street as part of Crossrail agreement July 14, 2015 Derwent London has signed a new 150-year lease agreement with Crossrail on a £400m office and shopping development above Tottenham Court Road station. The developer is effectively buying back the site at 1 Oxford Street after having to surrender it in 2009 to Crossrail. Derwent will receive £55m on completion of scheme in around 2020. [...]
Building services group ISG is hit by another £10.5m of costs July 14, 2015 ISG warned yesterday that it expects to book another £10.5m in costs after problematic contracts forced the building services group to issue a shock profit warning in February. In a trading update for the year to 30 June, the Aim-listed firm said it has set aside £5.5m to wind down its luxury construction services arm [...]
IAG takeover of Aer Lingus given the green light by European Commission July 14, 2015 International Consolidated Airlines Group's (IAG) takeover of Aer Lingus has been given the final go-ahead by European competition regulators. Read more: Ryanair share price up after approving IAG’s offer for Aer Lingus stake The European Commission has cleared the €1.36bn (£960m) takeover following "commitments offered by the parties". British Airways owner IAG agreed to relinquish five daily slot [...]
Blockchain company Coinsilium will IPO on London’s Aim July 14, 2015 A London-based startup which invests in the technology behind digital currency bitcoin intends to float on London’s junior market in the first IPO of its kind. Blockchain investment company Coinsilium will become the first blockchain company to go public, as the burgeoning technology gains attention from high-profile investors such as Richard Branson, Paypal co-founder Peter Thiel and [...]
Match Group buys free dating site PlentyOfFish for $575m July 14, 2015 Free dating site PlentyOfFish has found a new suitor in the Match group, with the group acquiring it today for $575m. With the acquisition Match Group, the dating business subsidiary of IAC which also includes Tinder and OkCupid, hopes to bag more digitally-savvy singles, as PlentyOfFish has 3 million daily users. Sam Yagan, chief executive [...]
Oil giant Petroleum Development Oman plans huge solar farm to extract oil July 14, 2015 It sounds like the opening line of a gag: an oil giant is set to built the world’s largest solar project. An unexpected alliance will have Petroleum Development Oman, the country's state oil company, teaming up with Californian solar power startup Glasspoint to build a solar plant with capacity for more than a gigawatt of [...]
