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 Woman falls to her death as she celebrates marriage proposal at the edge of Ibiza cliff
- 2 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 3 Dad attempts revenge on teenage daughter, plan backfires spectacularly
- 4 Ball pool for adults opens in London
- 5 Amal Clooney gives excellent response to fashion question at European Court of Human Rights
Isis 'throw man off a building for homosexual affair' and beat him to death when he survives
Woman falls to her death as she celebrates marriage proposal at the edge of Ibiza cliff
Boris Johnson claims porn-obsessed Islamic jihadists are 'literally w*****s'
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Ball pool for adults opens in London
9 reasons Greece's experiment with the radical left is doomed to failure
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
King Abdullah dead: We can't afford not to hold Saudi Arabia's royals to account
iJobs Money & Business
£40000 - £50000 per annum: Recruitment Genius: This is an exciting opportunity...
£30000 - £35000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...