May 4: Glyn Jones, the former head of Gartmore Investment Management, is stepping down as chief executive of Thames River Capital just seven months after taking over at the hedge fund. The decision follows a strategic review after which the group, whose backers include Sir Peter Beckwith, decided against seeking a stock market listing.

Sources close to Wm Morrison have denied that Sir Ken Morrison is planning to step down as chairman of the supermarket group, scotching a rumour which had swept the market earlier today.

Debenhams shares have given up half their gains of the day. Having been priced overnight at 195p, they rose quickly to just under 205p but are now only just above 200p.

We will take advantage of some pretty grim first quarter numbers from Unilever to look at how Patrick Cescau has done since taking over as chief executive a year ago. The turnaround story he has been selling around town is not a particularly inspiring one.

Royal Dutch Shell beat expectations with its rise in first quarter profits but has accompanied the figures with more bad news on reserve-replacement forecasts.

Mitchells & Butlers shares are off after the pubs group rejected Robert Tchenguiz’s latest takeover proposal, worth 550p a share or £2.8bn. I have feeling that is his best hand. However, unusually, M&B has published the letter containing the proposal on its website.

ICI shares are up more than 7 per cent on news of cost-cutting plans (with the loss of 2,300 jobs) and some quite strong first quarter results.

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