Business week in review
Sunday 17 June 2012
Who would have thought City regulation could have the feel of a Cold War spy novel? Admittedly, not a rip-roaring yarn, but surprising nonetheless: Alexander Justham has switched sides, a gamekeeper turned poacher.
Until September, Justham was head of the markets division at the Financial Services Authority. On Tuesday, he was named head of a London Stock Exchange subsidiary, LSE plc, that will take responsibility for relations with FSA successor body the Financial Conduct Authority. Before the FSA, Justham was at JPMorgan. So, will he swap sides once more? And would that make him a quadruple agent?
Also on Tuesday, Evelyn Bourke was named chief financial officer at private healthcare group Bupa. She joins from insurer Friends Life. Bupa praised her "finance, risk, actuarial, operations and mergers and acquisitions knowledge".
On Thursday, WH Smith's boss Kate Swann reported improved sales.
...at a loss
You have to feel sorry for Tesco. Well, you don't, and you probably won't, but pity poor chief executive Philip Clarke anyway.
He came in for quite a lot of stick on Monday after posting its fourth consecutive quarter of falling underlying UK sales. Annoyed it didn't include the Diamond Jubilee, which was the supermarket giant's biggest ever week outside Christmas, the results ratcheted up the pressure on Clarke. However, he claimed that he "can see momentum gathering" . Clarke can't afford too many more quarters like this one.
Heathrow and Stansted airports operator BAA posted a slight decline in passengers in May on last year. Chief executive Colin Matthews conceded the "impact of the eurozone crisis" had hurt.
On Wednesday, Peter Cowgill's JD Sports Fashion said it could lose up to £15m on its purchase of outdoor specialist Blacks Leisure.
- 1 PlayStation and Xbox hacked by Lizard Squad
- 2 Christmas comes early to Hong Kong, as millions of bank notes spill out onto busy street
- 3 The 'Black Museum': After 150 years, public can visit police’s grisly crime museum
- 4 British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
- 5 Vagina canoe artist facing two years in jail defends herself over ‘obscenity’ charges
PlayStation and Xbox hacked by Lizard Squad
Antonio Martin shooting: Black teenager may have tried to ambush patrolman, says police officer's lawyer
Katie Hopkins speaks out on childhood obesity: 'Parents of fat children should be prosecuted for child cruelty'
Boxing Day snowfall set to push even more bargain-hunters online for sales
The 'Black Museum': After 150 years, public can visit police’s grisly crime museum
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Rozanne Duncan: Ukip expels councillor for 'jaw-dropping' comments made in BBC TV interview
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
BBC director Danny Cohen: Rising UK antisemitism makes me feel more uncomfortable than ever
Alex Salmond has 'broken his word to the Scottish people' says Scottish Lib Dem leader
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