United Airlines chief executive steps down amid corruption investigation
Jeff Smisek exits as federal officials investigate whether airline improperly tried to influence officials at the Port Authority of New York and New Jersey United Airlines chief executive officer Jeff Smisek stepped down “effective immediately” on Tuesday with the company citing an ongoing federal corruption investigation into the company. The airline is under investigation over […]
Strong eurozone figures rally global markets after China gloom
Germany leads the way as better than expected eurozone performance this year sends FTSE 100 and Dow Jones soaring Global markets yesterday shrugged off a big fall in China’s monthly imports after figures showed the eurozone economy strengthened this year. Related: Markets rally on stimulus hopes after Chinese imports slump – as it happened Continue […]
Royal London was right to have a Direct word
Company needs praise for leading an ultimately doomed campaign for better boardroom governance at Sports Direct Congratulations to Royal London Asset Management for leading the campaign for better boardroom governance at Sports Direct. Somebody needed to step up. Voting against the re-election of Mike Ashley, the company’s founder, deputy chairman and 55% owner, is obviously […]
Rolls-Royce seeks to convert women to its new Dawn
Luxury carmaker seeks to reverse falling global sales with new convertible aimed also at women and younger drivers Luxury carmaker Rolls-Royce Motors has launched a new convertible model, aiming to raise its appeal to women and younger drivers amid declining sales in China. The BMW-owned Rolls-Royce has, like most car manufacturers, been hit by a […]
Berkeley shareholders rebuke housebuilder over pay policy
About 20% of independent investors failed to back scheme that handed chairman more than £23m last year House builder Berkeley Group has been rebuked by shareholders over its pay policy, with about a fifth of independent investors failing to back a scheme that handed the firm’s boss more than £23m last year. About 14.5% of […]
NatWest and RBS customers vent anger after latest banking glitch
Royal Bank of Scotland apologises after some customers were unable to use their card or withdraw cash in branches Royal Bank of Scotland and NatWest customers have vented their anger on Twitter after they were hit by yet another banking glitch. Some customers were unable to withdraw cash or use their card in branches. The […]
Markets rally on stimulus hopes after Chinese imports slump – live updates
Eurozone growth figures are stronger than first estimated, but a big fall in Chinese imports and exports show its economy remains shaky Markets boosted by growth figures Eurozone grew by 0.4% in Q2 Alarm as Chinese imports slide 13% Shanghai market slides, then bounces 5.00pm BST The FTSE 100 has now closed and has managed […]
What's the catch? MPs warn UKFI over banks' £1 privatisation fees
Treasury committee members tell investments fund to be ‘ultra-vigilant’ on motives behind token bank fees for work on Lloyds and RBS sell-offs The company established by the Treasury to hold the taxpayers’ stakes in RBS and Lloyds has been warned to remain “ultra-vigilant” after it was revealed some of the City’s biggest investment banks – […]
Television giant Media General to buy Meredith in $2.4bn merger
Combined company to be called Meredith Media General Merger to create ‘powerful multiplatform and diversified media company’ Broadcaster Media General announced on Tuesday that it is buying TV and publishing company Meredith Corp in an approximately $2.4bn cash-and-stock deal. The combined company, called Meredith Media General, will have 88 television stations in 54 markets and […]
Justin King, former Sainsbury's boss, joins private equity firm
Man credited with turning around supermarket’s fortunes tasked with reviving Terra Firma, owner of Odeon & UCI cinemas and Wyevale Garden Centres Justin King, the former boss of Sainsbury’s, has confirmed he is joining private equity firm Terra Firma in his first major role since leaving the supermarket chain. King will become vice-chairman and head […]