EDF confirms finance director Thomas Piquemal has stepped down over Hinkley Point crisis March 7, 2016 The future of Somerset's massive Hinkley Point nuclear power station was looking even more uncertain this morning, after EDF confirmed one of the top executives involved in the project had resigned, warning it could put the company in financial jeopardy, according to reports. Last night Bloomberg reported finance director Thomas Piquemal had stepped down due to concerns over the project, which is likely [...]
Mulberry names Dyson’s Neil Ritchie finance director suceeding Roger Mather March 7, 2016 Mulberry has named Neil Ritchie as its new finance director. Ritchie is moving from Dyson where he spent 14 years, most recently as global commercial finance chief and succeeds Roger Mather, who revealed he was leaving the fashion retailer last autumn after eight years, Mulberry chief Thierry Andretta said: "We are delighted to welcome Neil to Mulberry. His experience in developing and [...]
Clothing brand Jigsaw denies sale speculation March 7, 2016 British fashion label Jigsaw has denied that it is exploring a sale of the business following reports this weeks that it has held talks with financial advisers. The fashion chain was founded in 1971 by John Robinson, who ran the business with his former wife Bella before handing over the reins to former John Lewis director Peter Ruis [...]
Korn Ferry: Retail sector shake-up drives 40 per cent rise in new chief executive appointments in 2015 March 7, 2016 Retailers made a wave of chief executive officer (CEO) appointments last year as businesses came under pressure to improve their performance and battle declining footfall. Executive search firm Korn Ferry’s latest retail CEO tracker released today shows that there were 45 hires across the sector last year, an increase of 41 per cent on the [...]
Hilton Worldwide unveils plans for £76m hotel in the City March 7, 2016 Hilton Worldwide has unveiled plans today to launch a new hotel in the City after striking a franchise agreement with the developer of the £76m scheme. The US conglomerate, which already has 35 hotels across the capital including a Hilton London near the Tower Bridge, said it will partner with the site's owner 4C Hotel Group to [...]
South African retailer Foschini eyes fashion chain Whistles March 6, 2016 Another South African company could soon step up its presence in the UK retail industry, this time with upmarket high street brand Whistles as the target. Foschini, a Cape Town-based retail conglomerate which bought Phase Eight last year, is said to be eyeing a bid for Whistles after its owners hired advisers at KPMG to sound out [...]
Lloyds share price bounce back prompts sale restart speculation March 6, 2016 A rebound in the value of Lloyds Banking Group shares has sparked speculation the sale of the remaining government stake could still happen this year. The final tranche were due to be sold in February but the sale was postponed by chancellor George Osborne after worries over of the health of some of the world’s biggest [...]
Old Mutual could be broken up amid private equity takeover bids March 6, 2016 Old Mutual, the FTSE 100 insurance group, is reviewing options for a breakup following a joint takeover attempt for its wealth management division from private equity firms Cinven and Warburg Pincus. A breakup is one option being considered in a review of Old Mutual’s operations, and an update will be given on Friday along with [...]
Aviva set to report £100m impact from UK floods while Prudential will post another year of earnings growth March 6, 2016 Aviva is set to reveal the UK floods in December put a £100m dent in earnings for 2015 when it reports its annual results on Thursday. The impact of the floods, as well as the recently announced acquisition of RBC Insurance in Canada, is likely to drag operating earnings per share from 49.2p to 47p, [...]
Npower to slash 2,500 jobs amid ongoing financial difficulties March 6, 2016 Big six energy supplier Npower is gearing up to axe 2,500 jobs this week, as the firm's German owner RWE attempts to turn around the ailing company. The announcement of the cuts across the RWE group and its partners is due this week, it was first reported by Sky News. Npower employees 11,500 people in Britain people, meaning the [...]
