China regulatory crackdown fuels European share sell-off, Reckitt falls 9% – live | Business
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FirstGroup, the Aberdeen-based rail and bus operator, has announced that its chief executive Matthew Gregory intends to step down after its annual meeting, in a victory for shareholders. Chairman David Martin will run the firm as interim CEO while it looks for a permanent replacement.
FirstGroup’s biggest shareholder, a US hedge fund, had demanded the resignation of the transport firm’s chief executive and two board members, after failing to prevent the sell-off of its American businesses.
Coast Capital, the New York-based hedge fund which owns about 15% of the group, had opposed the $3.1bn sale of the FirstStudent and FirstTransit businesses to Swedish group EQT, arguing the price was too low for the school and city bus services.
Meanwhile, UK house prices hit a new high of £230,700 in…
