· Greece cuts minimum wage as austerity drive begins · Ireland calls vote on European fiscal pact · Portugal on the right track say lenders · Italian bond yields trade at their lowest since September · The FTSE All-World approaches seven month peak · Overall demand for stocks pushes Apple shares higher · Euro approaches three month high · Oil rises from one week low and heads for monthly advance · Platinum lures jewellers away from gold
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Ever been overlooked for promotion? Did someone less talented and lazier than you get it instead? If so, you probably think top management has missed your many achievements, or some devious politics are at play. In fact, you have probably just made the mistake of not learning to adapt, as you become more senior in your profession. Richard Jolly is a Professor of Organisational Behaviour at London Business School and he says, that at some stage on the way up the greasy pole of success, most managers have to wrestle with a paradox that, unless properly addressed, can mean their brilliance does not earn them just rewards. At first, it's straightforward. You show your technical expertise and commitment to the cause and become a star performer. If you are a city trader, work in advertising, sales or law, you have such good client relations, that if you were to be sacked, you could probably take them with you. Well done; you have become indispensible. Particularly…
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Angry Birds, the digital game, is set to become a physical attraction as the game's owner, Rovio, prepares to launch a branded theme park in Finland. Danish brewer Carlsberg A/S named two woman to its board and said it was seeking to promote more females to senior executive decisions, as part of a more responsible corporate strategy and a push for an increased global perspective. Rolex, the luxury watch brand, has topped the Consumer Superbrands 2012 index for the first time, leaving Coca-Cola and Google at second and third place, respectively. PROs have dubbed the launch edition of The Sun on Sunday as 'limp' and 'trying not to be a Sunday paper', following sales that hit three million yesterday. LLOYDS BANKING GROUP PLC The part state-owned British bank named David Roberts as new deputy chairman. Roberts, the current chairman of the risk committee, succeeds Glen Moreno who will retire on May 17. Lloyds also named Anthony Watson, chairman of the Remuneration Committee, as its Senior…
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GREECE SHRUGGED off a downgrade to “selective default” yesterday by ratings agency Standard & Poor’s, saying the move was expected following its launch of private sector involvement in a €206bn debt restructuring. The finance ministry said the downgrade was “pre-announced and all its consequences have been anticipated, planned for and addressed” by Eurozone partners who are backing Greek efforts to avoid a disorderly default. THE TAXMAN took an extra £8.3bn from top UK companies in the last fiscal year, with big firms contributing 14% more compared to the previous year. In total, the so-called Hundred Group of businesses paid an eyewatering £67.7bn in tax in the year to March 2011, according to data released by PwC this morning. Their contribution made up 13% of all receipts to the public purse, prompting the Treasury to hit back at recent claims that the government has been toadying up to big business. THE UK GOVERNMENT is to end "aggressive tax avoidance" schemes used by banks from the profit…
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The Artist and Hugo tied with five Oscars apiece at the 84th Academy Awards, but the French film claimed key awards, while the acclaim for Martin Scorsese's film was mostly technical. HSBC pays 170 staff more than $1m. • Bank profits at £13.8bn • Five highest paid earn £27.7m collectively • Executive bonuses cut due to mis-selling • Chief executive gets £7.1m total for 2011 Rupert Murdoch, chief executive and chairman of News Corporation, has claimed three million copies of the UK's first Sunday edition of The Sun were sold yesterday. Danny Brooke-Taylor, Dare's joint executive creative director, has resigned from the agency. Google is planning to replace Motorola Mobility chief executive Sanjay Jha with its own Dennis Woodside, who was formerly UK president of Google Americas after a spell in the UK, according to reports. WAINBRIDGE LTD The property investment manager appointed Christophe Leriche as head of the French division of Wainbridge Estates, its new super-prime residential development and investment arm. Leriche joins Wainbridge…
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· Italy bond yield falls · UK GDP drop confirmed · G20 turns up pressure on Germany · FTSE buoyed by energy stocks · Nikkei ease from seven month high · Euro gains on Greek debt bailout agreement · Oil caps longest rally in two years as Iran tensions spur supply concern · Gold slips as Europe concerns linger
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News International has confirmed the Sunday edition of The Sun will be priced at 50p, while the cover price of the Saturday edition will be cut from 60p to 50p. Danny Brooke-Taylor, Dare's joint executive creative director, has resigned from the agency. Google is planning to replace Motorola Mobility chief executive Sanjay Jha with its own Dennis Woodside, who was formerly UK president of Google Americas after a spell in the UK, according to reports. Google looks set to enter the TV distribution arena in competition with cable TV companies, with a pilot service in Kansas City, according to reports. M&C Saatchi UK has ended its search for a group executive creative director with the appointment of Elspeth Lynn. BANK OF AMERICA MERRILL LYNCH Bank Of America Merrill Lynch named Philippe Chryssicopoulos as the head for infrastructure investment banking for Europe, the Middle East and Africa. He will also maintain his current role as head of Greece and Cyprus Investment Banking. BROOKS MACDONALD ASSET MANAGEMENT…
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· Bank of England economist open to more quantitative easing · Athens told to change spending and taxes · Blueprint for China to open up markets · Britain’s top shares rise on robust corporate earnings · Asian shares drift higher on positive economic data · Euro reaches 10 week high on strength in German economy · Oil heads for longest winning streak since January 2010 · Copper traders turn bullish
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RBS chairman makes plea after £2bn loss is announced. Sir Philip Hampton says bank needs to be run on commercial grounds if taxpayers are to get their investment back. Former FHM editor Anthony Noguera and other big names in the men's magazine sector have teamed up to launch an iPad-only lifestyle magazine called Industria. M&C Saatchi UK has ended its search for a group executive creative director with the appointment of Elspeth Lynn. ST. JAMES'S PLACE PLC The wealth management group named Patience Wheatcroft as an independent non-executive director with effect from April 2. Wheatcroft is the former editor of the Sunday Telegraph, and has been a non-executive director of Barclays Group PLC and Shaftesbury PLC. The company also announced the retirement of Roger Walsom, a non-executive director since 2005. CORDEA SAVILLS The property fund manager named Lorna Mackie as head of the Luxembourg office. Mackie joins from Goodman Europe. HURON CONSULTING GROUP The provider of business consulting services named John Mansell as a managing…
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GERMAN CHANCELLOR Angela Merkel indicated she will maintain pressure on Greece to meet debt- cutting pledges required for its second financial rescue, saying fiscal discipline is needed to hold the euro area together. “If you have a single currency you naturally have to be able to trust each other,” she said. While “it is right” to bail out Greece, Portugal and Ireland, “we have to say again and again that everyone must do their homework because otherwise this Europe can’t hold together.” CHINA’S Premier Wen Jiabao is seen signalling next month that curbing pollution, inequality and the risk of financial instability eclipse the benefits of faster economic growth, a survey of analysts indicated. Wen will target an expansion of less than 8% in his report to the National People’s Congress in Beijing on March the 5th. A cut may indicate policy makers are prepared to tolerate a slower expansion as they move the economy’s drivers to consumption from exports and investment, a shift that may…
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