Carlos Ghosn seeks permission to attend Nissan board meeting March 11, 2019 Former Nissan boss Carlos Ghosn is seeking permission from a Tokyo court to attend the car manufacturer’s board meeting tomorrow, Reuters reported, citing his lawyer. Ghosn, who was released last week on bail of ¥1bn (£6.85m), has applied to the Tokyo District Court for permission to attend the meeting, his lawyer Junichiro Hironaka told reporters. [...]
Embattled outsourcer Kier shares plunge as ‘accounting error’ reveals higher net debt than previously thought March 11, 2019 Construction outsourcer Kier Group spooked investors on Monday morning as it admitted an 'accounting error' had forced it to recalculate its net debt as £50m higher than previously stated. The firm’s stock fell 13 per cent after it issued an update saying it has revised its net debt position as at 31 December to £180.5m, up from [...]
Debenhams strikes back against Mike Ashley with ‘advanced’ plans to raise £110m March 11, 2019 Debenhams said “advanced negotiations” are underway to secure up to £150m in loans to keep it alive this morning, as it fights back against Mike Ashley’s bid to oust the board. The struggling retailer said the £40m bridging loan it secured in early February comprises part of this sum, but that it is seeking to [...]
Superdry urges investors to vote against founder Julian Dunkerton’s return March 11, 2019 Superdry will hold a shareholder meeting on 2 April to vote on the reinstatement of Julian Dunkerton after months of rising tensions between the founder and the board. The fashion retailer confirmed the meeting in a circular sent to shareholders this morning, but urged them to vote against the reappointment of Dunkerton. Read more: Hundreds of [...]
Senior Tory MPs urge Theresa May to cancel Brexit vote March 11, 2019 Senior Tory MPs have urged Prime Minister Theresa May to cancel tomorrow’s vote on her Brexit deal amid fears she faces another heavy defeat, the Times has reported. Leading Conservatives have told May she should pull the meaningful vote unless she secures major concessions from the EU. Read more: Brexiters dismiss reports they could swing [...]
Futuristic entrepreneurs are helping us reach for the stars March 11, 2019 Houston, there is no problem. America is back in the space race. “We’re really at the forefront,” says US President Trump. “Nobody is doing what we’re doing.” He’s right. But in a break with tradition, the US is now leaning on its entrepreneurs, rather than the Federal Reserve, to fund its interplanetary aspirations. The latest [...]
DEBATE: Even Goldman Sachs is relaxing its dress code – will City culture benefit from this trend? March 11, 2019 Even Goldman Sachs is relaxing its dress code – will City culture benefit from this trend? Beatrice Timpson, a political communications consultant, says YES. The days of the lounge suit are numbered. Its demise is not so much desirable as inevitable. Just as the French Revolution killed off foot-high wigs and knee breeches and the First [...]
The UK’s competition policy must be fit for a world of tech giants and hidden cartels March 11, 2019 Competition is the oxygen of the capitalist system. From Adam Smith on, there have been warnings of the threats to economic health if competition is restricted by would-be monopolists or cartels. In the UK, the system is policed by the Competition and Markets Authority (CMA). It rarely hits the headlines except for occasional controversial cases like [...]
If London is to continue to thrive, MPs must take a no-deal Brexit off the table March 11, 2019 There is no denying that trying to sell London to international investors this week of all weeks presents a challenge. Inevitably, uncertainty caused by Brexit has made some businesses more hesitant to commit further to operations in London than they would have been otherwise. Looking beyond the imminent drama in Westminster, however, I have reason [...]
Sadiq Khan and local councils gear up for Heathrow third runway legal challenge March 11, 2019 A legal challenge against Heathrow's bid to build the third runway launches today in the High Court. The mayor of London, Sadiq Khan, five local councils and Greenpeace are taking the government to court over objections to the Department for Transport's (DfT) airport national policy statement, (NPS) the legislation that makes the case for Heathrow [...]