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.
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- 2 Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
- 3 'F*ck it, I quit': TV reporter Charlo Greene quits live on air in spectacular fashion
- 4 Scotland could still declare independence – even without referendum, says Alex Salmond
- 5 Hitler’s former food taster reveals the horrors of the Wolf’s Lair
Rihanna 'nude photos' claims emerge on 4Chan as hacking scandal continues
Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
Khorasan: Muhsin al-Fadhli - the man leading a terror group more feared by US officials than Isis
'F*ck it, I quit': TV reporter Charlo Greene quits live on air in spectacular fashion
Alicia Keys leaks nude photo 'to create a kinder and more peaceful world'
Scotland could still declare independence – even without referendum, says Alex Salmond
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Plebgate MP Andrew Mitchell called officer a 'little s**t', claim court documents 'exposing ex-Chief Whip's 'record of abusing police'
Archbishop of Canterbury admits doubts about existence of God
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