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Main shareholder JAB Holding seeks to shake up business after period of sustained share price underperformance
...Council fined the Big Four firm for failing to meet audit requirements during its review of M&C Saatchi’s accounts for the year to December 2018....
...Disclosure of accounting errors had forced M&C Saatchi to adjust its reported profits for 2018 and previous years....
...Shares in fast-fashion retailer H&M jumped more than 13 per cent in early trading after the company reported rising operating profits in its first quarter, signalling that it is on track to increase profitability...
...M&C Saatchi: Shares in the British marketing agency slipped 2.3 per cent after its full-year results showed a 2 per cent fall in revenues and a 10 per cent drop in profit before tax....
...Investment manager M&G has reported a 28 per cent rise in profits for 2023, in the first annual results for chief executive Andrea Rossi, who has pledged to transform the company....
...M&G’s share price rose by about 2 per cent in morning trading....
From Stephen Butcher, Hambleton, Rutland, UK
...The number of outward M&A deals was also down from the previous quarter and the smallest since the last three months of 2020....
...“The need to execute on cross-border M&A is here. It’s for many companies an existential reality. Their supply chains have been disrupted by two major global conflicts,” Pick said....
...to c.$1.2bn....
...H&M has appointed Daniel Ervér as new chief executive of the group, succeeding Helena Helmersson. Ervér has been with H&M for 18 years, most recently as the head of the H&M brand....
...M&S’s contract with HSBC, which owns M&S Bank, is up for renewal. M&S is likely to push for more control and a bigger cut of the spoils....
...It’s wealth porn, and I’m addicted to it — largely because, in my experience, most rich people have appalling taste....
...Here’s more on the regions driving a nascent recovery in the M&A market....
...The overall value of global M&A climbed 30 per cent to $690bn, the data showed, even as the total number of deals announced fell 31 per cent.The rebound in dealmaking comes after M&A activity plunged to...
...I’m Claer Barrett, the FT’s consumer editor....
...UBS has named Jeff Hinton as global co-head of M&A. He joined last year from Barclays as co-head of M&A for the Americas....
...“I’m really very grateful,” says Casimir....
...“Well, I’m on the Pulitzer [Prize] board, so if I tell you stuff I’ve enjoyed it’s kind of a clue.”...
...A complex, strangely structured enterprise of multiple overlapping divisions that was built for a different era and held together by deceit, Boney M are available to book now....
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