Debenhams owners to outline plans to shut 20 stores April 23, 2019 Debenhams is poised to outline plans this week to bring forward the closure of 20 of its stores, according to Sky News. The new owners of the department store chain, which include Barclays and hedge fund Silver Point, will launch a company voluntary arrangement (CVA) in the next 48 hours that will allow it to [...]
Andrew Bailey is right to think about the City’s future April 23, 2019 Throughout the interminable Brexit debate, sensible voices have been hard to come by – but Andrew Bailey provides one. The head of the Financial Conduct Authority was ahead of the curve in pushing for EU counterparts to match the UK's planning to ensure financial stability in the event of a no-deal Brexit and, now that [...]
Theresa May seeks new vote on bill needed to deliver Brexit as talks with Labour flounder April 23, 2019 Theresa May will attempt as early next week to push through legislation needed to deliver Brexit, following a barrage of criticism over the Easter weekend about her handling of the negotiations. Downing Street said it aimed to bring the Withdrawal Agreement Bill that is needed to ratify May's deal, which has been rejected three times by MPs, “as soon [...]
Fevertree boss Tim Warrillow quadruples pay package in 2018 April 23, 2019 The chief executive of Fevertree more than quadrupled his pay package last year, after the firm reported a surge in profits and revenue despite challenges posed by a new sugar tax. Tim Warrillow’s remuneration hit 3.98m last year, up from 844,000 the year before, the company revealed today. Read more: Fevertree's remarkable turnaround Performance incentives [...]
Former UBS officer had ‘no motive and no money’ in alleged insider trading deals, court hears April 23, 2019 A former UBS compliance officer accused of insider trading had “no motive and no money” pegged to the alleged crime, a court has heard. Fabiana Abdel-Malek has been accused of disclosing price-sensitive information regarding five company takeovers to her family friend and trader, Walid Choucair, between June 2013 and June 2014, allowing him to make [...]
FCA: UK could embrace ‘lower burden’ financial rules post-Brexit April 23, 2019 The City could benefit from a “lower burden” regulatory regime when the UK exits the European Union, the top financial regulator said today. Setting out his vision for the future of UK financial regulation, Financial Conduct Authority (FCA) head Andrew Bailey said he thought the UK and EU would take contrasting approaches to regulation post-Brexit, [...]
The Independent Group hire former New Labour ad-man for European elections April 23, 2019 The Independent Group and its political party Change UK have called on the services of former New Labour ad-man Johnny Hornby and his WPP-backed agency. Read more: The Independent Group applies to register as a political party Hornby’s agency The&Partnership, pronounced “The And Partnership”, will provide creative advertising, design, data analytics, and strategic advice for [...]
Nike to move UK headquarters to new King’s Cross building April 23, 2019 Nike will move its UK headquarters from Soho to a new building in a major redevelopment in King’s Cross. The US firm has signed a deal to lease at least 60,000 square feet in an 11-storey block in the upcoming area, the Evening Standard reported. The company is currently headquartered on Wardour Street in Soho, [...]
Netflix to sell $2bn worth of bonds amid competition with streaming rivals April 23, 2019 Netflix will issue $2bn (£1.5bn) worth of bonds, denominated in both dollars and euros, to raise money as the battle over TV and film streaming intensifies. Read more: Netflix predicts slowed subscriber growth as price hikes begin to hurt The online media giant said the interest rate, maturity date, and other terms of the bonds [...]
All a-Twitter April 23, 2019 Anyone who knows about social media would recognise Jack Dorsey, the CEO of Twitter: unruly beard, black knitted hat, dark clothes. He’s a distinctive figure in a way that Mark Zuckerberg isn’t, though it’s also true that there’s yet to be a film made about Dorsey’s rise to prominence. The Twitter boss recently took part [...]