Zara chief bags former BBC base in West End April 19, 2023 Spanish billionaire and founder of popular fashion chain Zara Armancio Ortega has closed a deal purchasing luxury residential offices – and former BBC base – in the West End. Ortega’s firm Pontegadea shelled out £82m for the 1920s building, the private firm announced today. Last month Ortega purchased a luxury residential property with 120 apartments [...]
Subway: ‘Club’ deal as Advent, Bain and TPG face off with Asda owners in £8bn race for sandwich giant April 19, 2023 A flock of the world’s biggest buyout firms are eyeing the possibility of a joint bid for Subway, joining the owners of Asda in the race to acquire the sandwich chain. Advent International, Bain Capital and TPG are considering teaming up in a so-called “club deal” as the second round of auctioning for the American [...]
Cyber attacks hit a third of firms and quarter of charities last year, including Royal Mail, WH Smiths and JD Sports April 19, 2023 Nearly a third of businesses and a quarter of charities have said they were the subject of cyber attacks or breaches last year, new data has shown. Figures collected for the Government by polling company Ipsos show a similar proportion of larger and medium-sized companies and high-income charities faced attacks or breaches last year as [...]
GSK: Hundreds of workers at British pharma giant to strike in May in pay dispute April 19, 2023 Hundreds of workers at pharmaceutical giant GSK will stage a series of walkouts in May in a dispute over pay. Unite said 750 of its members have voted for strike action after rejecting a 6% pay offer and a one-off lump sum of £1,300, describing it as “significantly below” inflation. Unite said industrial action will [...]
Guided Buying: A Solution to Cut Costs, Mitigate Risks and Enhance ESG Standards April 19, 2023 | Sponsored Keeping a close eye on competition, enhancing your client offering, all the while managing to invest in innovation, has never been more important. With customers’ purse strings a good bit tighter, and rising inflation impacting the costs of business operations, running a tight ship and keeping up best practice is vital for companies to maintain [...]
Credit Suisse accused of limiting scope of probe into Nazi-linked accounts April 19, 2023 US senators have accused embattled Swiss bank Credit Suisse of limiting the scope of an internal investigation into Nazi clients and Nazi-linked accounts – including some open that were until just a few years ago. The US senate budget committee said an independent ombudsman initially brought in by the bank to oversee the probe was [...]
FCA: Brits saved almost £1bn after shake-up of overdraft rules according to City regulator April 19, 2023 People have collectively saved nearly £1 billion due to a shake-up of rules around overdrafts, according to calculations by the City regulator. The rules, introduced by the Financial Conduct Authority (FCA), reduced high fees for unarranged borrowing and swept away complex charging structures, which made it hard for people to compare borrowing costs. The £1 [...]
In Defence of Capitalism: Consumption is good for you and me April 19, 2023 In his 2015 encyclical “Laudato si”, a blazing indictment of capitalism, Pope Francis proclaimed: “Since the market tends to promote extreme consumerism in an effort to sell its products, people can easily get caught up in a whirlwind of needless buying and spending. Compulsive consumerism is one example of how the techno-economic paradigm affects individuals”. [...]
Fintech Plus500 sees earnings double as London listed firm pushes on with US expansion April 19, 2023 Fintech firm Plus500 reported a surge in revenues to start the year today as it continued to push into the US and boost the amount of retail traders on its platform.
Tesco Clubcard discount promo DID copy Lidl logo, High Court rules against UK’s largest supermarket April 19, 2023 German discount supermarket Lidl has won its trademark lawsuit against Tesco at London’s High Court over the use of a yellow circle on a square blue background. Lidl sued Tesco in 2020 shortly after Tesco adopted a yellow circle against a blue background to promote its “Tesco Clubcard Prices” discount scheme. Judge Joanna Smith said in a written ruling [...]