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Co-op Group boss asks for big pay cut

13th April 2016
Following revised demands to his current job, Co-operative Group Chief Executive Richard Pennycook has asked for a 40% cut to his base salary, taking it from £1,250,000 to £750,000. Mr Pennycook was former finance director of the group, but took over as chief executive in 2014 when former boss Euan Sutherland resigned after 10 months. Mr. Sutherland’s […]
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Finance Monthly 2016 Law Awards Winners Announced

13th April 2016
Finance  Monthly  is  pleased  to  announce  that  the  official  publication  of  its 2016 Law Awards is now available online. The 2016 Finance Monthly Law Awards celebrate and recognise excellence from law firms and legal professionals who have consistently excelled in all aspects of their work and set new standards of client service. A lengthy process […]
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US Department of Justice sues to prevent Halliburton-Baker Hughes deal

12th April 2016
The Department of Justice has filed a civil antitrust lawsuit seeking to block Halliburton Company’s proposed acquisition of Baker Hughes Inc., alleging that the transaction threatens to eliminate competition, raise prices and reduce innovation in the oilfield services industry. The department filed its lawsuit in the U.S. District Court for the District of Delaware, where […]
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Angola asks for IMF aid as oil prices fall

11th April 2016
A country known for its oil exports, Angola has asked the International Monetary Fund (IMF) for financial assistance to improve economic and financial stability. Following the end of a 27 year civil war in 2002, Angola’s economy has experienced rapid growth, peaking at 12% per year in 2013. However international crude oil prices are now […]
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Brazil's Petrobras axes 12,000 jobs

7th April 2016
Petrobras, Brazil’s state-run oil producer, has said it will cut 12,000 jobs by 2020 to get out from under its $130 billion debt. Following various price-fixing and bribery scandals, the layoffs will aim to save $9 billion at the company. The company – long one of Brazil’s biggest employers with more than 80,000 workers throughout the […]
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Interview with Peter Alderson, Managing Director at LDF

7th April 2016
Peter Alderson is Managing Director at LDF. Prior to this appointment his experience included; 30 years in the finance & banking sector, working for the Dresdner Kleinwort, Commonwealth Bank of Australia, and Investec. LDF is one of the largest providers of business finance to the SME community (planning to provide £400 million to this market […]
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Interview with Mike Williams, Director of Finance, Europe at Intuit Quickbooks

7th April 2016
Mike Williams is Director of Finance, Europe, at Intuit QuickBooks. He leads Intuit’s European financial operations and is responsible for pursuing the cloud accounting market and growing the business. He played a key role in relocating the UK’s headquarters from Maidenhead to central London in 2014 and also helped steer the development of new operations […]
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UK Business Secretary Sajid Javid travels to India to negotiate with Tata Steel

6th April 2016
Following Tata Steel’s announcement that it has put its UK plants up for sale, UK Business Secretary Sajid Javid has travelled to India, where the firm is based, to try to arrange a responsible sales process. The sales announcement follows Tata Steel’s strategic review of its UK operations. The company acquired its UK operations in […]
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India’s central bank cutting key interest rates to five-year low

5th April 2016
The Reserve Bank of India (RBI) has for the first time this year cut its core interest – the repo interest - from 6.75% to 6.5%. The reduction has been widely anticipated due to Asia’s third-largest economy’s continuous battle with weak inflation. The adjustment is a sign for potential further rate cuts to come in the […]
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Ana Boata, European Economist, Euler Hermes, EU Referendum Special Feature

4th April 2016
By Ana Boata, European economist at Euler Hermes From an economic standpoint, June’s in/out referendum will have a significant bearing on the future of the UK. The potential fall in exports, higher import bills and financial costs and rush in divestment that we can expect from a Brexit paint a concerning picture for British firms […]
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Karen Penney from American Express, International Women's Day feature

4th April 2016
Karen Penney is Vice President and General Manager of American Express. Following International Women’s Day on March 8th, she tells Finance Monthly about why we need more mentoring and sponsorship schemes for women in finance.  In recent years, more women than ever have stepped into leadership roles. The finance sector is no exception to this, […]
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