Card Factory posts higher revenues despite ‘challenging’ high street conditions November 15, 2018 Card Factory shares slipped today as high street sales stayed flat year on year for the nine months to October, despite the high street retailer enjoying an online boost. Group revenue grew by 3.4 per cent year on year for the period, but like-for-like sales stayed flat compared to the first nine months of 2017. Card [...]
UK’s largest private firm Ineos agrees $1.1bn deal for boatbuilding supply business November 15, 2018 The UK’s largest privately owned firm Ineos has signed a $1.1bn (£850m) deal to buy the composite business of Ashland Global Holdings, which produces composite resins for use in boat building. Ineos, which was founded by the UK’s richest man Jim Ratcliffe, has acquired Ashland’s 20 manufacturing sites in Europe, North and South America and the [...]
Profit or purpose? Business must find a better balance November 15, 2018 Last week, I attended a meeting of entrepreneurs backing Small Business Saturday (coming up on 1 December) to look at a survey of what motivates these firms. I expected a tirade against red tape and tax. What we got was the news that, of over 1,000 SMEs polled, only 60 per cent were primarily driven [...]
The Royal Air Force can teach business how to do digital transformation right November 15, 2018 When my dad asked me, “What do you do?”, I said “digital transformation”. I described it like this: “I work with teams, and we ask ‘why’ a lot. We help companies to shape ideas and gain the confidence to change their direction.” His response surprised me: “I used to do that, or something very similar. [...]
Monzo needs a dose of Spotify boldness to go from UK unicorn to Silicon Valley titan November 15, 2018 The end of October saw startup bank Monzo confirmed as the latest British unicorn, hitting a valuation of $1.2bn three years after launching. This isn’t London’s first unicorn by any means, with Deliveroo and Funding Circle leading the way. But so far none have come close to the achieving the global domination or $100bn valuations [...]
Theresa May’s future hanging by a thread as leading Brexiters call on her to go November 15, 2018 Theresa May’s future hangs by a thread this afternoon after leading Brexiter Jacob Rees-Mogg called for her to be ousted as Prime Minister. The North East Somerset MP, who chairs the European Research Group of Conservative Brexiters, sent in a letter on Thursday calling for the Prime Minister to be subject to a confidence vote. [...]
‘This is not Brexit’: Jacob Rees-Mogg submits no confidence letter against Prime Minister Theresa May November 15, 2018 Jacob Rees-Mogg has submitted a letter of no confidence in Prime Minister Theresa May. A spokesman for Mogg’s pro-Brexit European Research Group confirmed he has submitted the letter, after challenging the Tory leader in parliament over her Brexit deal. "What has been achieved today is not Brexit," Mogg told reporters this afternoon. "It is impossible to agree [...]
Patisserie Valerie chief executive Paul May resigns as food industry veteran hired to turn embattled cake shop around November 15, 2018 The chief executive of troubled cafe chain Patisserie Valerie has resigned. Paul May has stood down with immediate effect and will be replaced by turnaround specialist Stephen Francis, the former chief executive of pork producer Tulip. Patisserie Valerie chairman Luke Johnson said: "I am delighted to welcome Steve Francis as new chief executive at Patisserie Holdings. "He has [...]
Debenhams shares continue to plunge on supplier woes in the run-up to Christmas November 15, 2018 Shares in embattled department store chain Debenhams have continued to plunge this morning on reports of supplier troubles in the run-up to Christmas. A number of high street suppliers have stopped working with the Debenhams after credit insurers reduced protection for suppliers, trade magazine Drapers reported. Its share price has dropped close to nine per cent this [...]
Capita shares drop after NHS cancer screenings error November 15, 2018 Outsourcing business Capita's share price dropped as much as nine per cent this morning, after it was hit with criticism from the NHS yesterday over its handling of a system error. It was revealed that more than 40,000 women did not receive letters of invitation or reminders regarding NHS cervical cancer screenings from Capita between January [...]