Electra Private Equity forced to shake up its strategy now activist investor Edward Bramson is on the board January 25, 2016 The board of Electra Private Equity has announced it is reviewing its investment strategy just a few months after activist investor Edward Bramson joined the board. Bramson was finally voted on to the Electra board in November with 53.5 per cent of shareholders voting in favour, along with Ian Brindle, former PwC boss and a [...]
Kingfisher’s share price dips as it reveals new strategy to target £500m annual profit uplift January 25, 2016 KIingfisher led the FTSE lower this morning as investors digested the DIY giant's new five year strategy – and the costs it will incur. Kingfisher, whose share price dropped as low 4.5 per cent in early trading, is hoping to return an additional £600m to shareholders over the next three years, with a plan to deliver a [...]
Falling demand for diamonds and the weak South African rand weigh on Petra Diamonds’ revenues January 25, 2016 Petra Diamonds, the FTSE listed miner, announced revenues for the last six months fell 28 per cent, as a result of falling diamond prices, and a weak South African rand. The figures Revenue fell 28 per cent to $154m (£108m) in the six months ending December, down from $214.8m the year before. This includes the $10.5m sale of a 23.16 [...]
JKX Oil & Gas blocks shareholders Eclairs and Glengary from vote over Proxima bid January 25, 2016 JKX Oil & Gas has blocked two of its biggest shareholders from attending or voting at a general meeting this week, at which the board risks being ejected. Eclairs Group and Glengary Overseas – who own 27.5 per cent and 11.4 per cent respectively – have been banned from taking part in the meeting on Thursday, [...]
Adidas ends sponsorship with IAAF four years early as doping scandal continues to dog athletics January 25, 2016 Adidas is pulling out of its sponsorship of athletics' world governing body IAAF four years before the contract was due to expire, as the doping scandal continues to dog the sport. The BBC reports that the sportswear giant told the IAAF of its plans – which will result in millions of dollars in lost income – earlier [...]
Oil sector’s quick fix cost-cuts will be a big mistake – DNV GL January 25, 2016 The oil and gas industry is repeating the mistakes of previous downturns by resorting to short-term cost-cutting measures, according to a new report. 56 per cent of senior oil and gas professionals surveyed by technical advisor DNV GL think the industry is going the wrong away about addressing falling profits in a sustained period of [...]
Calls for sharing economy to be counted in official ONS figures January 25, 2016 Official measures of UK productivity and economic growth are failing to take into account the contribution of the sharing economy, according to a new report calling for a radical overhaul of statistics. The report, authored by economist Diane Coyle in conjunction with Sharing Economy UK (SEUK) and Airbnb, says a lack of measurement of the growing sector, epitomised by [...]
Astbury Marsden warns City workers face bonus shock this year January 25, 2016 City workers are anticipating bumper bonuses this season, but recruitment experts have warned that they could be in for disappointment. Two thirds of employees are expecting a hefty bonus payout, according to a survey published by Astbury Marsden this morning. Yet the job specialist’s MD, Adam Jackson, added: “This optimism is being severely tested. The current [...]
Finance jobs in London expected to increase in first half of 2016 but executives already worried about skills shortages January 25, 2016 The capital is likely to see a rise in jobs on offer during the first half of 2016, but executives are already fretting over how to find the right calibre of finance staff to fill their vacancies. According to research released today by specialist recruiter Robert Half, 63 per cent of finance executives in London and [...]
FTSE 100 non-executive directors sees lowest levels of fee growth for more than 15 years, rising just three per cent to £65,000 January 25, 2016 Generous pay packets in the boardroom could be set to become a thing of the past, as a new report has found that fees for non-executive directors have grown at their slowest rate for more than 15 years. According to research out today from PwC, the median non-executive director base fee increased by three per cent [...]
