Shortly after Philip Clarke made his surprising – and, it turns out, prescient –admission at a conference in March that his days as Tesco chief executive were probably numbered, the boss of another blue-chip British company asked me, worriedly: “Does it sometimes take two CEOs to turn a company round?”
An artist's impression of the revamped bunks with en suite shower Photo: Transport Scotland/PA Wire
The revamp of the Caledonian Sleeper train service between Scotland and London looks like good news for the business travellers who account for half the traffic on that route.
Serco, the outsourcing group that has just snagged the franchise from FirstGroup, said more than £100m would be invested in new rolling stock that would come into service in 2018, with taxpayers footing much of the bill.
It already offers luxury sleeper services in Australia, including double beds at the very top end. The new Caledonian Sleeper carriages will feature berths for one or two travellers with an en suite toilet and shower, a safe, larger “hotel quality” towels and Shetland wool blankets (or duvets for the unpatriotic). Read more
Apparently size matters in assessing business culture. The latest Populus opinion poll for the FT says 61 per cent of British voters want the party that wins the next election to be tougher on “big business”.
This result raises all sorts of questions – and not only for the political parties, which appear to be drawing up the battle-lines over how to treat business. With British elections one year away, it underlines, for example, that companies need to recalibrate their strategies to deal with political risk on the home front. It also makes me wonder how British people, let alone their elected representatives, define “big business”. Read more
Few things are as alluring as optimism and Mark Carney sees the banking glass as half-full. The Bank of England governor has arrived from Canada with a dose of can-do spirit, casting off the pessimism of Mervyn King, his predecessor.
Readers from countries accustomed to wild extremes of weather, please look away.
But for those in the path of the storm that swept through southern Britain into London’s rush hour this morning, we’re keen to know how you managed your teams to cope with the disruption. Read more
British bank customers are hearing a lot about a 19th-century Scottish cleric called Henry Duncan, who opened the world’s first savings bank in 1810, from Lloyds Banking Group and TSB, the latest descendant of the good vicar’s pioneering idea.
But the origins of “new TSB” are less inspiring than those of its ancestor. It is the brand attached to bank branches the European Commission has forced Lloyds to separate out as a condition of the group’s post-crisis government bailout. In due course, Lloyds is expected to float TSB on the stock market. Read more