Stocks to watch: Cath Fontana, managing director of Mitti for Government Accounts, leaves the firm
In a politically charged world of official contracts it is rarely quiet, at least not for listed player mittens.
Last week, raids were carried out on its office in the Shard skyscraper as part of an ongoing competition investigation.
Competition and market authorities are investigating the relationship between Mitie and US firm PAE after the Home Office raised concerns.
Change: Cath Fontana, Mitt’s managing director for the government account, has left the firm
Now I can reveal that Kath Fontana, its managing director for the government account, has left the firm. Fontana is a veteran of big deal management and only joined in 2019.
He made headlines last year when, as president of the Royal Institution of Chartered Surveyors, he was one of four directors to resign after a governance scandal.
Senior MT sources said Fontana was left to cut costs because he was ‘expensive’ and his departure was ‘completely unrelated’ to the CMA investigation.
It is understood that Duncan Dodd-Hughes, director of the Strategic Alliance, will take on some of his responsibilities.
Analysts believe that inflation could hurt Moonpig
Online greetings card seller Moonpig has rarely been able to write at home since its shares fell 45 percent since last year’s stock market flotation.
Analysts are now worried that inflation could deter buyers from buying flowers and chocolates with their card orders.
This week’s trading update should indicate whether sales could hit the 280 million forecast by industry observers.
Small sellers bet on the Royal Mail
The Mail on Sunday reported last week that short-sellers were targeting Royal Mail.
Two of them – Marshall Weiss and Citadel – have stepped up their bets in recent days.
Analysts’ concerns for the stock include union demands for wage increases to help postmen fight rising bills. That bust is far from the end.
At a meeting of postal workers in Liverpool, Deputy General Secretary of the Communications Workers Union Terry Pullinger hit the board.
In a subsequent letter to CEO Simon Thompson, he claimed that the firm was in a “hurry” to offer investors a 400 million reward, “but they are still dragging their feet when it comes to our members.”
This will roar.
BioNTech wants to invest in Covid’s income
Bioentech has spent a remarkable two years developing a covid vaccine used worldwide in partnership with US giant Pfizer.
Now German biotech business and partner Covid jab upstart Moderna faces the challenge of deciding where to invest this income and how to reward shareholders.
BioNTech has announced a ্যাক 2 billion (£ 1.7 billion) plan to benefit investors through a buyback and € 486 million special dividend.
It will pay তার 1.14 million in windfall, including its € 2.5 million pay packet and stock, to its British chief commercial officer Shawn Maret, which is worth a whopping 9 119 million (£ 91 million).
Ugur Sahin, a German oncologist who co-founded the business, has 7.1 billion worth of stock.