Alliance Trust Share News (ATST)

(ShareCast News) - HSBC's Stuart Gulliver is the European bank chief executive who investors would most like to be replaced, according to a recent poll of large shareholders. When 74 institutional investors were polled by Autonomous Research and asked to each name three banks in Europe "most in need of a change in CEO", Mr Gulliver, who has run the region's biggest lender since 2011, won by a chunky margin. - Financial TimesUK companies have become gloomier about their trading prospects and the economic outlook as the EU referendum approaches, according to a survey. Lloyds Bank's latest barometer of business mood found confidence about trading prospects dipped to a three-year low in May, with overall business confidence and hiring plans also down. - The GuardianA triple burden of higher costs linked to the living wage, rapidly changing consumer demands and uncertainty surrounding the EU referendum is dampening optimism among UK retailers, a new survey shows. Red tape and cyber threats were also identified as factors that could harm potential growth prospects, according to PwC. - The TelegraphA third of bosses at Britain's biggest public companies say they have spent up to £1 million preparing for the consequences of leaving the EU. A survey of senior board members at FTSE 350 companies has found that almost 7% intend to relocate parts of their UK operation should the nation vote to leave on June 23 and 17% said they would consider moving if there were a vote for Brexit. - The TimesHedge funds and investment banks have commissioned private exit polls in an attempt to make profits from the result of the UK's referendum on EU membership next month. By finding out the voting patterns early on June 23 and predicting the result, entrepreneurial traders can lay big bets on the result, hoping to be the first to benefit financially from a government-induced swing in sterling since George Soros bet against the pound when it crashed out of the then European exchange rate mechanism in 1992. - Financial TimesBrent Hoberman has pledged to create 200 new British technology start-ups over the next five years, claiming that he has rewritten the rulebook for building successful new businesses, and that existing incubators and accelerators are not fit for purpose. The LastMinute.com co-founder has created a new venture aimed at both building new businesses from scratch through an "incubator" and helping new start-ups to scale through its "accelerator". - The TelegraphLloyds Banking Group has seen an 80pc to 90pc drop in cyber attacks as online criminals and fraudsters have switched their attention to other industries. Banks have been under increasing pressure from hackers, driving even the Bank of England to include cyber attacks in reports on the key risks to the financial sector. - The TelegraphEnergy regulator Ofgem is to lose about 80 staff as it seeks to slash its costs by 15pc, its chief executive has revealed. The watchdog is also preparing to move out of its Thames-side offices at 9 Millbank in favour of a cheaper London address, under plans to hit savings targets, Dermot Nolan said. - The TelegraphThe French economy grew at a faster rate than expected in the first quarter of this year, one of two favourable economic snapshots released yesterday from eurozone countries. There were also more favourable numbers on German inflation, indicating that the continent's biggest economy is emerging from deflation, after showing a 0.3 per cent decline in the inflation rate in April. - The TimesDeloitte has named its highest-ever proportion of female partners in the accountancy firm's annual round of promotions but the pool of senior employees is still more than 80% male. The 'big four' accountant said 24 of 80 new partners in its UK business, which includes offices in Switzerland, are female. - The GuardianBrussels is to call on EU governments not to ban or limit services such as Uber and Airbnb, in a bid to head off a regulatory onslaught from national authorities on the "sharing economy" in Europe. - FTChinese property developers have suffered a string of setbacks in overseas building projects from New York to Sydney in recent weeks, highlighting the cultural and operational challenges these groups face working in unfamiliar territories. Chinese builders have ramped up foreign investment in recent years as the domestic market has slowed, with outbound property investment rising 0.5% to $25.1bn last year. - Financial TimesOne of Europe's fastest growing online health and beauty owners has snapped up a rival as it bulks up ahead of an anticipated flotation next year. The Hut Group has bought Salu Beauty, an upmarket US and Australian retailer that trades as www.skincarestore.com.au and www.skinstore.com, from Walgreens Boots Alliance, with no prosy disclosed. - The TimesNoble Group, Asia's biggest commodities trader, abruptly parted company with its chief executive after a period of underperformance and announced the sale of its American energy trading business to cut debt. Yusuf Alireza, 45, a former Goldman Sachs banker, has resigned "for family reasons", the company announced in a regulatory filing. - The TimesAn oil company chaired by Giles Clarke, former boss of the England and Wales Cricket Board, is under fire from investors over the generosity of management share incentives. Shareholders in Amerisur Resources, which is quoted on AIM and has operations in Colombia, are angry about share options granted last week under a long-term investment plan (LTIP) to Mr Clarke and to John Wardle, chief executive, and Nick Harrison, the part-time finance director. - The TimesThe former chief executive of Zurich Insurance has committed suicide, the company said on Monday, less than three years after the company's chief financial officer also took his own life. The death of Martin Senn, 59, takes the number of suicides by executives at Switzerland's biggest companies to five in just eight years. - The GuardianHNA Group has agreed to buy a 13% stake in Virgin Australia Holdings and is in talks to acquire 49.99 per cent of Air France's Servair, as the Chinese conglomerate continues its aggressive expansion overseas. Virgin, Australia's second-biggest airline, said on Tuesday that the Chinese group would make a A$159m (US$115m) equity investment as part of a strategic commercial alliance. - FTGreece's privatisation agency's asset portfolio - readily available online - goes some way to explaining the tightrope senior officials need to tread between insatiable creditors and shocked citizens. A catalogue of beaches, islands, boutique hotels, golf courses, Olympic venues and historic properties in Plaka on the hills beneath the ancient Acropolis, it could be a shopping list for the scenery in a movie - rather than a list of possessions that Athens is under immense pressure to offload. - The Guardian