Investors urged to reject Exillon’s plans
Management at Exillon Energy face another battle to win investor support three months after facing down attempts by a dissident shareholder to oust board members of the London-listed Russian oil…
Estuary hub ‘would spell end for Heathrow’
©PA Opening a hub airport in the Thames estuary would force Heathrow to close and result in Britain’s biggest round of job losses, the airport’s owner and operator argued on…
Four broadcasters in battle for FA Cup
A fierce bidding war for the TV rights to the FA Cup looks likely after four broadcasters submitted bids to the Football Association in the first round. Following the telecom…
Smiths names former 3M head as chairman
Sir George Buckley, the British industrialist who previously headed US conglomerate 3M, has been confirmed as the next chairman of Smiths Group. The FTSE 100 engineering conglomerate, which is in…
L&G insider takes finance director job
Legal & General has promoted one of its senior executives to finance director after regulators disapproved of the insurer’s favoured external candidate for the role. After a search that lasted…
Private equity leads way in tax efficiency
Some UK lawmakers and union representatives have called for restrictions on tax advantages related to high levels of debt after research by the Financial Times showed the measures have helped…
Private equity-run brands’ tax bills spark ire
©AP Alliance Boots has accumulated a tax credit on £5bn of profit in the past six years, prompting calls by unions and MPs for an overhaul of the tax advantages…
Pensions industry views CDCs with caution
Britain’s savings industry is likely to press for a much looser regulatory regime if the government proceeds with ideas that lead to the creation of large, low-cost pension savings providers…
UK prepares charges against Libor trader
UK authorities are preparing to file criminal fraud charges against Tom Hayes, the former UBS and Citigroup trader, in connection with the global Libor rate-rigging scandal, two people familiar with…
The deals that left Co-op in crisis
These days David Anderson has a pretty leisurely time of it. There is the odd board meeting at the National Farmers Union and a few more at the John Lewis…
Co-op Bank restructuring marks end of an era
©Bloomberg A sweeping debt restructuring by The Co-operative Group has marked the end of an era for Britain’s biggest mutual, with a forced share listing of its banking subsidiary heralding…
Private life isn’t off-limits for boards
I once rashly asked the chief executive of a large listed enterprise if he was overpaid. “I’ve taken no holiday and spent every weekend of the past 18 months trying…
English sparkling wines buoy Majestic
Britons have developed a taste for English sparkling wines, a legacy of last year’s summer of celebrations, Majestic Wine said as its pre-tax profit edged up. “It started with the…
Saudi Eurofighter talks back on track
©AFP Expectations are growing that BAE Systems will finally conclude price negotiations to supply 72 Eurofighter Typhoon fighter jets to Saudi Arabia, a deal that has eluded Europe’s biggest defence…
Q&A: Co-op debt restructuring
The Co-op agreed on Monday a rescue plan to plug the £1.5bn hole in its balance sheet, which has come under increased scrutiny since the bank pulled out of a…