RBS hiring drive to aid challenger bank Williams & Glyn disposal June 14, 2015 One-fifth of the hires RBS is looking to make fall within the Williams & Glyn challenger bank being carved out of the state-backed lender, illustrating the scale of the task at hand as RBS readies itself to launch the revived brand as its deadline draws nearer. Of the 1,235 open positions being advertised on the [...]
Insurance giant Aviva to slim down with sale of property debt June 14, 2015 Aviva, the FTSE 100 insurance firm, is said to be selling off property loans to the value of billions of pounds. One source familiar with the matter told City PM that big four audit firm Deloitte is currently working with Aviva. The property debt reportedly includes loans secured against House of Fraser’s department store in [...]
FTSE 100 miner Vedanta Resources merges Indian branches June 14, 2015 Vedanta Resources, the FTSE 100 Indian resources company, is undertaking more work to simplify its structure, confirming plans to merge its Indian subsidiaries, Mumbai-listed Vedanta Limited and Cairn India. Cairn India minority shareholders will receive one equity share in Vedanta Ltd, as well as one 7.5 per cent preference share with a face value [...]
Rolls-Royce “exploring opportunities” to not cut jobs June 11, 2015 Rolls-Royce says it is exploring ways to “mitigate the need for compulsory redundancies wherever possible”. The engine maker, which announced its intention to cut a tenth of its 6,000-person marine workforce in May, said in a statement it has been “engaged in constructive dialogue with union representatives”, and that it has “Made significant progress” [...]
Sainsbury’s boss Mike Coupe acquitted by Egyptian courts June 11, 2015 Sainsbury's boss Mike Coupe has been acquitted by an Egyptian court of all charges in a legal case linked to the supermarket's investment in a business in the country 16-years ago. The chief of one of Britain's biggest supermarkets was sentenced to two years in prison in April, over allegations of embezzlement after being found guilty [...]
Nestle faces rejection over KitKat copyright claim after European Court of Justice ruled against trademark appeal June 11, 2015 KitKat copycats could be on the prowl after the top lawyer at the European Court of Justice decided not to give Nestle a break over its attempts to trademark the plain four-fingered bar. The case dates back to 2010 when KitKat owner Nestle sought to register the shape of the four-bar treat without the [...]
Alibaba founder Jack Ma’s three tips for small business owners June 11, 2015 If there's one person small business owners would want to learn from, the richest man of the world's second-largest economy who was also the guiding force behind the biggest IPO in history wouldn't be far down the last. Luckily, Jack Ma has shared his three tips for small business owners in a conversation with American [...]
Royal Mail share price drops as government nets £750m from sale of 15 per cent stake June 11, 2015 The government sold off half its remaining stake in the Royal Mail this morning at 500p per share – half again as much as its original price when it listed in October 2013. Read more: Lessons learned as final parcel of Royal Mail goes on sale The offer netted the government £750m, leaving it with [...]
The Competition and Markets Authority issues “final order” demanding Ryanair sell its Aer Lingus holding to British Airways parent IAG June 11, 2015 The Competition and Markets Authority has issued a final order that Ryanair sell down its stake in Aer Lingus, reducing its holding from 29.8 per cent to five per cent – but Ryanair has hit back at what it calls a "ridiculous" ruling. It follows a decision by the Irish government last month to [...]
UK Oil and Gas Investments share price slides after funding announcement June 11, 2015 Shares in the firm exploring oil reserves in the Weald Basin near Gatwick airport have opened lower following a new round of funding. UK Oil and Gas Investments shares were as much as four per cent lower in early trading after it announced a share sale raised £6m after Wednesday's market close. Shares closed down [...]
