News in brief: Eurozone jobless rate up to 12.1%, M&S sells White City depot to developer, New boys start in FTSE shake-up
Unemployment in the eurozone hit a new high in May.
The number of people without work across the single currency area rose by 67,000, taking the jobless rate up to 12.1% from 12% in April, said Eurostat. Worst affected have been Spain and Greece, where the rate is 26.9% and 26.8% respectively. Unemployment among people under 25 across the eurozone is 3.5 million, or 23.8%.
M&S sells White City depot to developer
The transformation of west London’s White City, a designated regeneration zone, took another step forward today as the retail giant Marks & Spencer sold a storage warehouse to St James, the upmarket arm of developer Berkeley Group, for £100 million. The site, which M&S will lease for three years, has the potential for more than 4,500 new homes.
New boys start in FTSE shake-up
The boardroom merry-go-round span with a vengeance today as a raft of chief executives started new jobs. Steve Clarke took over at WH Smith and Ivan Menezes at Diageo.
Alistair Phillips-Davies took the reins at SSE, Ben Magara at Lonmin, Mark Weinberger at Ernst & Young and Simon Segars at ARM. At the Co-op, Richard Pennycook arrived as the new finance director.
