No organisation would hire an unqualified pilot, surgeon or engineer, so why hire unqualified managers? Despite about 8.4 million people working as managers from a UK working population of 33 million, 82 per cent are “accidental managers” who do not have any formal training when promoted into their role. The result? Several high-profile corporations have…
The new boss of Legal & General, the FTSE 100-listed financial services group, has made his first big strategic move by striking a deal to offload its housebuilding business for £1.16 billion in cash. L&G has agreed to sell Cala Homes to the American private equity firm Sixth Street Partners and Patron Capital, a London-based…
The collapse of the Baltimore bridge that caused chaos at one of the busiest ports in the United States will lead to a £500 million loss for the Lloyd’s of London insurance market. The disaster, which occurred in March when a cargo ship collided with the Francis Scott Key Bridge, is expected to result in…
Centamin will be the latest goldminer to leave the London stock market once its £1.9 billion takeover deal with AngloGold Ashanti completes. As the price of gold breaks record highs and London’s miners languish at big discounts, this takeover is unlikely to be the last. AngloGold Ashanti, which is headquartered in Denver, Colorado, has certainly…
This isn’t the usual Lunch with The Times. Rather than a swanky West End restaurant, the venue is the canteen of King’s College London, an unglamorous but fitting place to meet Joe Lister, the chief executive of Unite Group, Britain’s biggest student landlord. Obviously there’s no table service, so we grab some food and drinks…
Centamin is set to become the latest mining company to leave the London stock market after it agreed to a takeover from an American rival. It has recommended a $2.5 billion cash-and-shares deal from AngloGold Ashanti as the New York-listed group seeks control of Egypt’s largest goldmine. AngloGold, which also has a listing in Johannesburg,…
“I made a series of mistakes and felt like a fool,” the boss of Boden has admitted after his preppy British fashion brand sank further into the red last year. Losses at the London-based clothing and lifestyle retailer widened to £9.4 million in the 12 months to the end of December, compared with a loss…
Rachel Reeves has been warned that her plans to raise at least £500 million by closing a private equity tax loophole could spark an exodus of wealthy individuals that could hit the amount of revenue the chancellor hopes to generate. The professional services firm EY said that 60 per cent of its asset management clients…
With its imposing art deco design, The Eagle development in Hackney, east London, was heralded as an “outstanding” 27-storey building that “has certainly benefited the whole community” by Jules Pipe, Sadiq Khan’s deputy mayor for planning and the fire service. Yet the reality for those who call the development home could hardly be more different….