Mark Carney: My Mansion House speech was designed to shake up markets July 15, 2014 Remember that Mansion House speech when Bank of England governor Mark Carney shocked markets by saying that interest rates could come sooner than expected? Well that was exactly the point. Replying to a question from MPs on the Treasury Select Committee about whether the surprise statement made in the Mansion House speech was to "shake [...]
Mario Draghi says QE “falls squarely” in European Central Bank mandate July 14, 2014 Mario Draghi is doing more scene-setting work for full-blown quantitative easing. Speaking to EU politicians today, the European Central Bank (ECB) president said that QE "falls squarely" in the central bank's mandate. Draghi's comments come as the International Monetary Fund today did all but outright say that the ECB should begin to engage in asset [...]
Mike Coupe: Three things you didn’t know about Sainsbury’s CEO July 14, 2014 Chief executive of Sainsbury’s Mike Coupe 1 He describes himself as a “keen but average guitarist” and prepared for his new job by going to Glastonbury with his wife. 2 He enjoys cycling and recently completed the London to Brighton race in aid of the British Heart Foundation 3 He has a cat called Gretchen, [...]
Merkel could step down ahead of term July 14, 2014 GERMAN chancellor Angela Merkel could step down from her position in the years ahead, or may not stand in the country’s next election, according to Der Spiegel. A chancellor has not left the job without losing a federal or internal party election in Germany since 1949.
This Middle East tragedy will become a catastrophe if Obama missteps now July 14, 2014 My wife recently passed along to me an almost unutterably beautiful video from the Royal Shakespeare Company. In it, Camille O’Sullivan performs “Daughter, Dear Daughter” from the Bard’s moving The Rape of Lucrece, giving voice to the universal anguish of a parent burying a child. It ends with the harrowing plea, “Then live, sweet Lucrece, [...]
Burberry shareholders vote against Christopher Bailey pay deal July 11, 2014 Shareholders have struck a blow to Britain's iconic luxury fashion brand Burberry by voting against the proposed multi-million pound pay package for new chief executive Christopher Bailey. More than 50 per cent of those who voted at the luxury giant's annual general meeting today went against the directors' remuneration report. The lucrative package includes a [...]
Christopher Bailey: The Yorkshireman filling Burberry’s boots July 10, 2014 There was a big elephant in the room – or rather on the line – when reporters dialled into the Burberry first quarter conference call yesterday. The luxury group’s new chief executive Christopher Bailey was conspicuously absent, as he was in May during the preliminary results call, leaving finance chief Carol Fairweather to lead the [...]
As Burberry faces a shareholder revolt over chief Christopher Bailey’s pay, is he worth it? July 10, 2014 Qing Wang, professor of marketing and innovation at Warwick Business School, says Yes. The success of Burberry is largely attributable to its seamless combination of creativity with tradition, which many think epitomises the essence of Britishness. Its chief executive Christopher Bailey is highly experienced (he worked as a designer at Gucci, then as creative director [...]
Burberry’s Christopher Bailey receives sales boost ahead of pay package showdown July 10, 2014 Burberry's new chief executive Christopher Bailey, who is facing questions over his lucrative pay package, received a boost today as the luxury goods brand beat estimates to report strong sales growth of 12 per cent for the three months to June. Retail revenue rose nine per cent to £370m for its fiscal quarter to June, [...]
Euro central bank boss Mario Draghi rejects Renzi reforms for deficit rules July 9, 2014 EUROPEAN Central Bank (ECB) chief Mario Draghi weighed in on the debate over Eurozone deficit reduction yesterday, slapping down Italian Prime Minister Matteo Renzi’s push for a more lenient approach. Speaking in London yesterday, Draghi stressed the importance of sticking to the currency bloc’s existing fiscal rules. Recently, Renzi and other European politicians had suggested [...]
