MINING giant XSTRATA slipped 2.5 per cent to 901p as QATAR HOLDINGS reiterated their opposition to a bumper bid from GLENCORE. A vote on the deal is due next week.
MORRISONS was the top FTSE 100 performer, climbing 4.20p to 281.45 on rumours of “welcome surprises” in its upcoming half-year results.
TESCO was 2.25p higher to 339.55. Confused.com car insurer ADMIRAL slipped 34p to 1162 on concerns about slower growth next year.
Oil giant BP edged up 0.10p to 442.05 despite talk it will not be allowed to compete for a lucrative contract in Abu Dhabi.
Sun City 2012 stock pick and booze giant DIAGEO rose 18.50p to 1742.50 as brokers at MORGAN STANLEY lifted their price target for the stock to 1900.
Industrial services group CAPE soared 19 per cent to 232.25 after saying it will meet full-year targets.
THE FTSE 100 FELL 24.08 TO 5719.45
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Email: steve.hawkes@the-sun.co.uk
THE new boss of BARCLAYS vowed the bank will change its ways yesterday — as he landed a huge £8.6million pay package.
Antony Jenkins was promoted to succeed disgraced Bob Diamond as chief executive after three years in charge of retail and business banking.
The appointment of the exec dubbed “Safe Hands” came 12 hours after Barclays admitted it faces a criminal investigation over its 2008 bailout by sheikhs.
The bank has already been fined for fixing Libor and set aside £450million of compensation for flogging dodgy “swap” loans.
Mr Jenkins admitted that Barclays had made “serious mistakes” but vowed he would make it the go-to bank for all customers.
Speaking to Sun City, the 51-year-old said: “I’m absolutely committed to building the right culture.
“We need to be explicit about having to serve all of our stakeholders — clients, customers and broader society.
“We have made serious mistakes in the past, but there’s a tremendous sense of opportunity here.”
Mr Diamond quit his £12million-a-year post in July after the Libor scandal shamed the bank.
After starting out at Barclays almost 30 years ago, Mr Jenkins will earn a basic salary of £1.1million as chief exec.
On top of that, he could get an annual bonus of up to £2.75million, share award of up to £4.4million and a pension contribution of £363,000.
Mr Jenkins admitted he was well paid but said his salary was “below” the average for a FTSE 100 chief.
Shadow business secretary Chuka Umunna immediately backed the new boss, saying: “He readily accepts the issues in the banking sector are not isolated to a few bad eggs but are cultural.”
But campaign group MOVE YOUR MONEY blasted: “This will do nothing to change the DNA of an organisation repeatedly caught pursuing short-term profit at all cost.”
Mr Jenkins — credited with reviving BARCLAYCARD between 2006 and 2009 — insisted his own past was scandal-free.
He added: “We have got to understand how these things happened and prevent them ever happening in the future.”
- SUN CITY COMMENT: “AJ” is as different from flash brash Bob Diamond as you can imagine.
Barclays may be more boring but after recent events they’ll be happy with that.
The game's up for JJB
JJB SPORTS was on the brink yesterday as it put itself up for sale — and admitted its shares may be worthless.
The shock move means the chain is edging closer to a restructuring that could trigger huge job losses among the 4,000 staff.
Experts said a “pre-pack” administration — where the chain collapses and the best stores are sold to a new buyer — was almost inevitable.
Shares collapsed 84 per cent to just 0.4p yesterday. They were 128p three years ago.
In a grim statement announcing the sale, JJB said: “The directors do not believe the company will be able to raise the level of funds required to implement the turnaround.” JJB — which today runs just 180 shops — has been hit by fierce competition from rival Mike Ashley’s SPORTS DIRECT.
Four months ago US giant DICK’S SPORTING GOODS invested £20million. Other investors have also lost a fortune.
Ads giant returning
ADVERTISING tycoon Sir Martin Sorrell is bringing his business WPP back to Britain — as he warns of slower growth.
The chief exec told Sun City “the prodigal son is returning” as he confir-med WPP’s tax domicile is to return from Ireland.
It follows a February ruling that profits of foreign subsidiaries would NOT be subject to tax.
WPP’s half-year profits rose seven per cent to £357.7million.
Revenue growth this year will be 3.5 per cent following a slowdown in the US and western Europe.
Dole in wall
BRITAIN’S taxpayer-backed banks were last night urged to bin cash machine restrictions on more than a MILLION poorer customers.
Andrew Tyrie MP said RBS and LLOYDS should allow their basic bank account holders to withdraw money from rivals’ ATMs.
RBS introduced the ban last year, blaming fees charged by its competitors. Mr Tyrie, head of the Treasury Select Committee, said: “Those affected are among the most vulnerable in society.”
Hays lays off its staff
RECRUITMENT giant HAYS is laying off its own staff in the UK as revenues tumble.
Boss Alistair Cox said 150 had gone in the past year as banks stop hiring and Whitehall cuts costs.
Group half-year profits are up 15 per cent to £122.4million on bumper growth overseas.
Mr Cox said: “At the minute, the UK is in the middle of the pack.
“Fees are down 7 per cent here but it’s worse in southern Europe.”
Ferraris sell fast
CAR nuts and wealthy Londoners have sparked a boom in sales of Ferrari motors at upmarket dealer HR OWEN.
Sales rose ten per cent between January and June 30 following the launch of the £227,000 FF in January.
- THE FORMER boss of ailing music store HMV Simon Fox has joined Daily Mirror publisher TRINITY MIRROR as its new chief exec. He spent six years at the high street chain and led its move into live music.
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