Business week in review
Sunday 27 January 2013
Here come the girls! The glass ceiling is cracking, rather than shattering, but if the number of women appointed to big jobs on Monday is repeated every week maybe we'll no longer have to comment on their gender.
First up, a shareholder coup at haulier Stobart Group saw Avril Palmer-Baunack take, ho-ho, the wheel as chairman, moving across from boss at logistics company Autologic which Stobart bought last year.
Invesco Perpetual fund managers are said to have led the coup, which came a week after a profit warning. Two non-executive directors, including veteran chairman Rodney Baker-Bates, resigned.
Then, Christine Tacon became the first Groceries Code Adjudicator, giving the former Co-operative Farms' boss the power to stop supermarkets if she thinks they are bullying suppliers. "I have experienced a reasonable number of abuses supplying retailers," Tacon was quoted as saying. So she's unlikely to accept any excuses from the big grocers.
To retain some sex balance, on Tuesday, ex-M&S boss Sir Stuart Rose was named Ocado chairman.
...at a loss
How do you follow Dame Marjorie Scardino? John Fallon, the new boss of Pearson, owner of the Financial Times and Penguin books, seems to have decided the best tactic is to downplay expectations, cutting its profit forecast for the first time in ages.
On Monday, Fallon, who first joined Pearson as communications director in 1997, thus inspiring all ambitious City spinners, said earnings per share would be 84p. That's just 1p less than his illustrious predecessor's forecast in October, but enough to see stock fall 4 per cent after the announcement.
Flybe's head, Jim French, confirmed the airline had hit turbulence on Wednesday when he warned 300 jobs would be axed to save £35m. Flybe nose-dived to a £1.3m loss in the six months to 30 January, down from a £14.3m profit a year ago.
Peter Hickson, bullet-maker Chemring's chairman, announced a full-year pre-tax profit of £18.8m, a 78 per cent slump.
- 1 Is Gideon Levy the most hated man in Israel or just the most heroic?
- 2 Students offered grants if they tweet pro-Israeli propaganda
- 3 Satellite full of sexually experimental geckos adrift in space, Russia loses control of mission
- 4 Exclusive: Cameron’s Big Society in tatters as charity watchdog launches investigation into claims of Government funding misuse
- 5 Israel has discovered that it's no longer so easy to get away with murder in the age of social media
MH17 crash: Investigators discover more human remains and 'huge section of plane'
Susan Sarandon on David Bowie romance: 'He's worth idolising'
Students offered grants if they tweet pro-Israeli propaganda
A day in the life of Vladimir Putin: The dictator in his labyrinth
Exclusive: Cameron’s Big Society in tatters as charity watchdog launches investigation into claims of Government funding misuse
The 'scroungers’ fight back: The welfare claimants battling to alter stereotypes
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Malaysia Airlines MH17 crash: Ukrainian military jet was flying close to passenger plane before it was shot down, says Russian officer
Malaysia Airlines MH17 crash: Massive rise in sale of British arms to Russia
Malaysia Airlines MH17 crash: victims’ bodies bundled in black bags and loaded onto trains
John Barrowman praised for Commonwealth Games opening ceremony gay kiss
iJobs Money & Business
£600 - £650 per day: Orgtel: Conduct Risk Liaison Manager - Banking - London -...
£18000 - £23000 per annum + Comission: SThree: SThree, International Recruitme...
£280 - £300 per day + competitive: Orgtel: Test Analyst, Edinburgh, Credit Ris...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...