Patisserie Valerie suspends finance boss as it warns investors of potential fraud October 10, 2018 Patisserie Valerie has warned shareholders of potential fraud this morning, suspending its shares from trading. The cake maker has also suspended finance boss Chris Marsh as it investigates the potential black hole in its accounts. Read more: Patisserie Valerie shares face suspension over '£20m accounting hole' The irregularity could be as high as £20m, according [...]
Western Union launches Transferwise rival service in UK October 10, 2018 Western Union is gearing up to face innovation head-on as it launches a digital bank account transfer service in the UK, competing with major fintech startups such as Transferwise for command of the market. UK consumers will now be able to send up to £50,000 from the Western Union app or website directly into other bank accounts around [...]
Domino’s hopes for slice of luck with fourth finance chief in four years October 10, 2018 Domino’s has appointed its latest finance chief, David Bauernfeind, who becomes the fourth person in four years to hold the position. The pizza company had already appointed Bauernfeind as its interim chief financial officer after his predecessor, Rachel Osborne, left for struggling high street retailer Debenhams in June. Read more: Domino's franchisee boosted as Russia [...]
Does Goldman Sachs retail bank Marcus really warrant all the hype? October 10, 2018 Marcus sounds worlds apart from the financial beast that is Goldman Sachs. But that’s the point – Marcus is meant to sound approachable, a bank for normal people. Named after one of the company’s founders, Marcus Goldman, this new challenger bank has proved popular since it first launched in the US back in 2016. It’s also [...]
Insurer Beazley becomes second tenant in City skyscraper Twentytwo October 10, 2018 The City's tallest skyscraper has landed its second major tenant – specialist insurer Beazley – in a sign of the bumper year for insurance take-up in the Square Mile. City A.M. can reveal the FTSE 250 insurer is set to take 50,000 square feet (sq ft) over two floors at 22 Bishopsgate when construction is finished [...]
Heed the history and beware Saudis floating oil companies October 10, 2018 Will they? Won’t they? I’m thinking about whether or not the Saudis will go ahead and float a sliver of their gigantic state oil company, Aramco, on the stock market. Reuters said in August that King Salman had vetoed the idea. But in an interview with Bloomberg published last Friday, his son, Crown Prince Mohammed, [...]
The global vaping industry risks being choked in a regulatory cloud October 10, 2018 The World Health Organisation (WHO) is meeting in Geneva this week to shape tobacco and vaping regulation over the next five years. Geneva is a long way from London, and the other side of the world from New Zealand, but vapers worldwide would do well to keep a close eye on these proceedings. Five years is [...]
Economies of the future will have to engage with the world, not just the EU October 10, 2018 The fire and the fury rage from day to day around the outcome of the Brexit process. The discussion has lost sight of the longer-term context in which both the UK and the EU will operate, regardless of the precise deal which is or is not struck. The crucial fact to appreciate is that Europe’s [...]
Women put off by gender pay gaps when looking for new jobs, study finds October 10, 2018 Almost two thirds of women look at a prospective employer’s gender pay gap before applying to a job, a new study has found. Women also said their motivation is reduced when employed at a company with a pay gap, and they are less likely to recommend working there to a friend. A poll by the [...]
London workers are more at risk for mental health issues than in other cities, and most don’t tell their bosses, study finds October 10, 2018 Nearly half of workers in London suffer from mental health problems in the office, and most do not tell their bosses, a new study from health startup Mynurva has found. Employees fear telling people about problems could get in the way of their career, or damage relationships with co-workers. The study of 2,000 adults found [...]