The City roundup: Veronique Laury to head up Kingfisher, Alibaba expected to float at £101bn

http://www.independent.co.uk/news/business/the-city-roundup-veronique-laury-to-head-up-kingfisher-alibaba-expected-to-float-at-101bn-9723590.html

Version 0 of 1.

Get the latest business news with The Independent's daily roundup of the biggest news from the City.

The FTSE 100 is to get only its fifth female boss after B&Q owner Kingfisher replaced chief executive Sir Ian Cheshire with the head of its struggling French DIY business. Véronique Laury, of Castorama, will take over the reins January.

Elsewhere, China's answer to eBay, Alibaba, is expected to float at a staggering £101 billion. While such a large amount may cause concern for some investors, many have flocked to sign up their cash.

There was tragic news from Spain today with the death of Santander chairman Emilio Botin. Botin built one of the world’s biggest banks out of what was a small domestic lender and his death could see his daughter, Ana, take over as the head of the global empire.

Finally, chocolate maker Thorntons looks like it is finally turning around, with the company reporting a 60% rise in annual pre-tax profit thanks to its range of cost-cutting measures.