FTSE 100 index drops despite Old Mutual’s share price rising and miners making gains March 7, 2016 The FTSE 100 index traded lower this morning, after having opened with volatility following gains last week. The UK's blue-chip index fell 0.63 per cent to 6,160 points in early morning trading. "Investors appear to be slowly starting to drip feed money back in after a turbulent start to the year. As equity markets enjoyed their third [...]
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 [...]
Tax advice can cost businesses £1000 an hour due to the UK’s overly complex system March 7, 2016 Top UK tax advisers are charging up to £1,000 an hour due to Britain’s overly complicated tax system. Research published today by the Centre for Policy Studies (CPS) said the UK had one of the most complicated tax systems in the world. UK tax advisory services are now one of the most expensive in the [...]
Don’t get your hopes up – weak productivity will weigh on pay packets, according to BDO March 7, 2016 Low productivity growth in the UK is throttling wage growth, a financial services firm has warned. UK economic growth improved in February while hiring also picked up, according to new figures released this morning. The employment index published by accountants BDO hit of a score of 105.1 in February from 104.9, moving further above its long-term average [...]
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 [...]
