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 [...]
Saudi Arabia seeks death penalty for five suspects in Khashoggi killing November 15, 2018 Saudi Arabia will seek the death penalty for five of the 11 suspects it says were involved in the murder of journalist Jamal Khashoggi. Saudi public prosecutor Saudi Al-Mojeb said that investigators are yet to find the remains of the regime critic and Washington Post columnist, who was killed last month. Prosecutors are investigating Saud Al-Qahtani, a [...]
Banks and housebuilders fall sharply as Raab resigns over Brexit deal November 15, 2018 The UK's major banks and housebuilders have suffered this morning in the wake of a number of resignations following Theresa May's draft Brexit deal. Shares in Barratt Developments and Persimmon, both down more than seven per cent, were the biggest fallers on the FTSE 100 in the aftermath of the cabinet's approval of the draft [...]
PwC offers muted support for audit market caps and increased oversight November 15, 2018 Britain’s biggest auditor has offered equivocal backing to a range of sector reforms, including a cap on market share for firms and more independent oversight of audit appointments. PricewaterhouseCoopers (PwC), the largest of Britain’s Big Four auditors, told the Competition and Markets Authority (CMA) a limit on the number of top firms any single auditor [...]
Retail sales slow in October as consumers hold off buying winter clothes November 15, 2018 Retail sales fell 0.5 per cent last month to six-month low, missing expectations from economists that they would rise by 0.2 per cent. The latest data from the Office for National Statistics (ONS) shows that in the three months to October 2018, retail sales increased by 0.4 per cent compared with the previous three months. This represents a [...]
Meatballs from home? Ikea launches takeaway delivery with Uber Eats November 15, 2018 The popularity of hygge, the Danish concept of cosiness, may be waning, but now Brits are being asked to embrace the even more impossible-to-pronounce fredagsmys, another Scandinavian import. As temperatures drop, Ikea and Uber Eats have teamed up to bring the Swedish furniture chain’s iconic meatballs into people’s homes. They hope Swedish fredagsmys – the [...]
Work and Pensions secretary Esther McVey adds to growing list of Brexit resignations November 15, 2018 Esther McVey, secretary for the Department of Work and Pensions, has resigned this morning over the government's proposed Withdrawal Agreement from the European Union. McVey's exit follows the departures of both Brexit secretary Dominic Raab and Northern Ireland minister Shailesh Vara this morning. Additionally, junior education minister Anne-Marie Trevelyan and Brexit under-secretary Suella Braverman have stepped down. [...]
Young’s boosts profits as pub investment pays off November 15, 2018 South London pub chain Young’s reported boosted profit this morning on the back of increased investment in its estate. Revenue was up 8.8 per cent from £144.1m to £156.8m, while profit before tax increased from 22.1m to 26.4m, a jump of 19.4 per cent, the company announced this morning in its interim results. The brewery [...]