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Wednesday newspaper round-up: Marks & Spencer, BT, Clapham House

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Date: Wednesday 12 Mar 2008

LONDON (ShareCast) - Marks & Spencer non-executives will meet within weeks to finalise a new pay package for Sir Stuart Rose, as opposition mounts to his promotion to executive chairman, says the Telegraph.

Marks & Spencer is understood to have given shareholder Legal & General one hour’s notice before Sir Stuart Rose's promotion, according to the Times.

Francois Barrault, head of BT Global Services, is confident his division can continue to drive the group’s growth in spite of the global downturn, reports the FT.

Clapham House, the restaurant operator behind the Gourmet Burger Kitchen and Tootsies chains, is understood to have received private equity approaches both for its individual brands and the company as a whole.

Neteller bounced back from the nadir of its 2007 US prosecution for illegal gambling to reveal strong trading and to commit to paying dividends again within a year, writes the FT

Capital & Regional jumps. Shares in property firm rise on bets bad news is over, says the Telegraph.

The war of words between BHP Billiton and Rio Tinto escalated this week as the two companies mounted fresh charm offensives at investors and analysts, says the FT.

Vincent Tchenguiz, the real-estate billionaire, launched an audacious A$1.22bn (£563m) takeover bid for control of the Sydney-based financial group Challenger's struggling infrastructure fund yesterday, reports the Independent.