Martin Sorrell says he regrets nothing months after leaving WPP amid allegations of misconduct October 1, 2018 Sir Martin Sorrell has said he has no regrets over his behaviour while in charge of WPP. The former chief executive left the firm in April after claims of personal misconduct, saying his departure was in “the best interest of the business.” In an interview with the BBC, Sorrell denied treating subordinates poorly, using company [...]
Planet Organic prepares for expansion drive after fund takeover October 1, 2018 Scottish private equity firm Inverleith has taken a majority stake in London-based retailer Planet Organic, unveiling plans to double the organic supermarket’s store count over the next five years. Inverleith has made an equity investment into the company, which currently has seven stores in London, to grow its footprint. Planet Organic, the UK’s largest fully-certified [...]
London companies dominate list of UK startups where professionals most want to work, new analysis reveals October 1, 2018 London dominates the UK’s startup scene, new analysis from LinkedIn shows. All but one of the country’s 25 top startups are based in the capital, the social media site found. The analysis uses searches and company page views from LinkedIn’s half a billion users, over 25m of which are in the UK, and shows the [...]
Bloom & Wild aims to woo Europe with letterbox flowers, following £15m investment October 1, 2018 Bloom & Wild will expand into new European markets following a £15m fundraiser led by private equity house Piper. The online flower gifting brand aims to become the UK market leader and continue expanding in new and existing European markets. The latest fundraiser will also help the company invest in technology and staff. Founded in [...]
Pressure mounts on the CMA to break up accountancy’s Big Four October 1, 2018 The UK’s competition body has been told to “bare its teeth” and investigate breaking up the Big Four accountancy firms, as it prepares to announce a decision on whether it will investigate the sector. Three senior politicians from across the main parties have called on the Competition and Markets Authority (CMA) to find ways to [...]
Bull market: New version of Wall Street’s iconic ‘Charging Bull’ goes under the hammer later this week October 1, 2018 A new version of the Charging Bull, the dramatic sculpture which has become a symbol of Wall Street, goes on sale in London this week. The highly-polished bronze by Arturo di Modica features in the sale of 20th century and contemporary art by auctioneers Phillips on Thursday, City A.M. can reveal. At 6ft long the [...]
EU to decide on Radisson hotels sale to Jin Jiang in November, European Commission says September 30, 2018 HNA Group will soon find out if its sale of the Radisson hotel chain will be approved after European authorities said they would decide on the case by 6 November. The cash-strapped company, which has offloaded $17bn (£13bn) so far this year to lower debt, agreed to sell its hotel chain to a consortium led [...]
New Pret a Manger owner backs company’s CEO after teenager died from allergic reaction to baguette September 30, 2018 Pret a Manger’s new owner has stood by the food chain’s pressured CEO Clive Schlee after a teenager died from an allergic reaction to one of the company’s baguettes. The coroner investigating the death of Natasha Ednan-Laperouse concluded allergy labelling on Pret’s products was inadequate. JAB, a Luxembourg-based German-owned investor, announced its acquisition of Pret in [...]
Bumper summer and Booker buyout set to boost Tesco profits September 30, 2018 Tesco will be hoping to post strong first-half profits on Wednesday, as a blistering summer heatwave, successful World Cup run and a royal wedding are all likely to have boosted the firm’s performance. Consensus estimates compiled by S&P Global Market Intelligence show that earnings before tax (excluding exceptions) could hit £795m in the first six [...]
Character assassination: Business bosses are starting to realise that Twitter has a price September 30, 2018 It is not boardroom discord or tumbling profits that are causing mayhem for Elon Musk, the maverick and publicity-hungry Tesla chief who is set to lose his role as chairman. It’s his Twitter habit. His case exemplifies how Twitter, the social media platform that can send 280 poorly chosen characters right round the world in [...]