ARCHIE Norman, the former Asda boss, pictured above, has been hired by investment bank Lazards a senior adviser.
Fraud crackdown
THE City of London Police are trying to crack down on fraud by increasing the size of their Economic Crimes Department, giving it extra cash which will be ring-fenced for fraud investigations. The annual cost of fraud is put at 14bn, but police say they lack the resources to tackle it.
Wonder of Wimpey
WIMPEY says housing orders are healthy and 2003 profits should be ‘around the top end of expectations’. Brokers expect 367m pretax to put the shares at just five times earnings.
Bright future
ROSS Jones, chief executive of Bright Capital, the fund of hedge funds firm owned by Old Mutual, is to leave the company in two weeks. John Ainsworth, chief executive of OM Asset Managers, will take over.
A rights mess
SHAREHOLDERS gave the cold shoulder to Australian insurer AMP’s 520m rights issue, leaving 256m with the underwriters. A roadshow for AMP’s ailing British interests, to be listed separately as HHG, has begun. HHG shares start trading in London next week.
Christmas race
SHOPPER numbers last week were down 2.3pc on the year but the gap is decreasing at a fast pace, said researcher FootFall.
Rival walks away
JARVIS Hotels (147p, up 1/2p) looks set to be acquired by chairman John Jarvis for 145p a share after a potential rival bidder walked away rather than offer more.
Gold on its mettle
GOLD closed down just $1 at $408 an ounce, after earlier falling to $401 in the optimism following news of Saddam’s arrest.
