Ted Baker concludes review into former boss’ behaviour as it appoints new CEO April 11, 2019 Ted Baker has concluded its investigation into allegations against former chief executive Ray Kelvin as it appointed a new head of the company today. Read more: Ted Baker CEO resigns in the wake of misconduct allegations The UK fashion brand did not comment on the review's findings on Kelvin's behaviour, who denies accusations of misconduct stemming from [...]
EU leaders offer May a Halloween Brexit extension April 11, 2019 EU leaders last night hammered out a proposal to offer Theresa May a Brexit extension until 31 October – Halloween – following a midnight summit in Brussels. European Council president Donald Tusk had favoured a year-long delay, but French President Emmanuel Macron insisted that a shorter extension would put pressure on the UK to finally [...]
Fintech unicorn N26 under scrutiny from German banking regulator April 11, 2019 Digital banking starlet N26 is under scrutiny from German banking regulator Bafin, after reports emerged of fraudulent transactions and problems with the bank’s communications structure. Concerns about N26 were first reported in October by German newspaper Handelsblatt, before further inquiries by Bafin were said to have revealed numerous deficiencies at the fintech startup. N26, which counts Monzo, [...]
Tesco turnaround marks the milestone for Drastic Dave April 10, 2019 In the never-ending debate about executive pay, examples of failure are cited more frequently than cases of good value for money. Recently the likes of WPP, Persimmon and Ted Baker have all demonstrated how the actions of the top boss can dent the fortunes of a company and frustrate shareholders. But despairing investors now have [...]
With the AI genie firmly out of the bottle, what impact could this have on accountants? April 10, 2019 This month, the British Film Institute celebrates the late Stanley Kubrick with a retrospective of his work. One of Kubrick’s most celebrated films, 2001: A Space Odyssey, was ground-breaking in its depiction of space – and it’s extraordinary to think that all the special effects created for it were achieved entirely without CGI, over 50 [...]
Kantar hires Microsoft executive as North America boss April 10, 2019 Market research firm Kantar has appointed Microsoft executive Reed Cundiff as its new chief executive for North America. Read more: Kantar boss suffered punctured lung in Kew stabbing attack Cundiff is taking over from Wayne Levings, who will return to the UK to continue in his role as head of global clients. “Reed understands what [...]
Sports Direct accuses Debenhams administrators of conflict of interest April 10, 2019 Sports Direct doubled down on its calls for the administration of Debenhams to be reversed this afternoon, as it mulls potential legal action following Mike Ashley’s failed bid to take control of the retail chain. Lawyers from the sportswear retailer said today that the appointment of administrators and the subsequent pre-pack administration only happened because Ashley’s own [...]
Permira prepares to appoint bankers to oversee sale or US IPO of British footwear brand Dr Martens April 10, 2019 Private equity firm Permira is planning a sale or US flotation of iconic British footwear brand Dr Martens. Permira, which bought Dr Martens for £300m in 2014, is preparing to hire bankers to review potential options for the company, Sky News reported. Read more: Rathbones and Tilney owner Permira sniff around Speirs & Jeffery Bankers [...]
BAE Systems evacuates workers at nuclear submarine site after bomb scare April 10, 2019 Hundreds of workers at a BAE Systems nuclear submarines shipyard in northern England were evacuated this afternoon after a warning about a bomb on one of the ships. The defence giant, which runs the yard at Barrow-in-Furness, said it had been closed and staff evacuated. Local newspaper the Mail reported that staff had been evacuated. Ambulances [...]
Barclays boss Jes Staley says Bramson board bid ‘doesn’t make sense’ due to £500m ‘short’ position April 10, 2019 Barclays boss Jes Staley has said activist investor Ed Bramson’s board bid “just doesn’t make sense” as he effectively holds a £500m short position against the bank. Speaking on CNBC, Staley delivered another comprehensive rejection of the US-based investor’s efforts to win a seat on the board. Read more: Activist investor Ed Bramson ramps up [...]