Topshoppers are not put off by Sir Philip Green’s troubles April 17, 2019 Last week, Sir Philip Green appointed restructuring specialists to the boards of his Arcadia retail empire in preparation for a major reconfiguration in May to tackle the company’s £500m deficit. Green has pinned Arcadia’s struggles on a challenging retail market and the ailing British high street, however Arcadia’s brands may have been affected by his [...]
Government provides £200m for small firms as Brexit threatens EU funding April 17, 2019 The UK government has handed over £200m to help support smaller businesses in the 2019-20 financial year as the future of European Union funding remains uncertain. Read more: No-deal planning programme extended due to later Brexit date The Treasury announced today that it has made the cash available to the British Business Bank, which provides [...]
The UK’s booming job creation calls for more workers April 17, 2019 Another blistering set of figures emerged from Britain's jobs market yesterday, with employment soaring to a fresh record high and joblessness sinking to its lowest level since the mid-70s. A further 179,000 people entered employment in the three months to February, the Office for National Statistics said, up by nearly half a million on the [...]
City Moves for 17 April 2019 – Who’s switching jobs at DX Group, Hogan Lovells and Highland Natural Resources? April 17, 2019 Today's City Moves includes DX Group, Hogan Lovells and Highland Natural Resources. DX Group Four decades after founding DX Exchange as a reaction to the postal strikes of the 1970s, Pauline Lyle-Smith has returned to the business as brand ambassador. The move is one of a series of initiatives by DX as it invests in [...]
London AI startup Cytora raises £25m from Swedish backer EQT Ventures April 17, 2019 Cytora, a provider of artificial intelligence (AI) technology to transform commercial underwriting in insurance, has today closed a £25m series B funding round led by EQT Ventures. Existing investors Cambridge Innovation Capital and Parkwalk also participated in the round, as well as a number of angel backers. Read more: Startups eye bigger slices of the [...]
Netflix predicts slowed subscriber growth as price hikes begin to hurt April 17, 2019 Netflix expects its subscriber growth rate to weaken in the coming months, as upcoming US price rises for its TV streaming site dampen the attraction of new users. The firm said it had gained a record number of 9.6m paid subscribers in the three months to March, taking its total up to 148.9m and ahead of [...]
Just Eat announces acquisition of software provider Practi April 16, 2019 Just Eat has acquired Practi, a software service that trades in tablet-based Point of Sale (PoS) and restaurant management systems. The food delivery marketplace has bought Practi for £6.7m, with further payments dependent on certain commercial milestones. Just Eat plans to roll out Practi's software to its restaurant partners, providing partners with PoS, payment handling, inventory management, [...]
Proceeds from wine sale at Sotheby’s to be donated to Notre Dame rescue project April 16, 2019 Proceeds from a rare London wine exhibition at Sotheby’s tomorrow night will be donated to the restoration project at Notre Dame, the auction house announced today. Read more: Sotheby's annual wine sales hit $100m The wine estate of Château Mouton Rothschild and the Palace of Versailles will donate the money raised from the sale of 25 [...]
Morrisons granted permission for Supreme Court appeal over data breach ruling April 16, 2019 Morrisons has been granted permission to appeal to the Supreme Court after losing a major court case over a data leak. In October the UK’s fourth-biggest supermarket lost an appeal against a High Court ruling that concluded the firm was legally liable for a former employee leaking personal information about 100,000 staff members, meaning it [...]
Asda under fire over new employee proposals April 16, 2019 Supermarket giant Asda has been accused of using a proposed pay rise as a "smokescreen" for unpaid breaks and shortened night shifts. The grocery firm recently announced a set of potential contract changes for its workforce, pledging to hike the basic hourly rate of pay for retail employees. Read more: Asda and Sainsbury's propose selling 150 [...]