The best of Bucharest: Romania’s wine regions come of age September 9, 2018 In the Prahova county of Romania, just outside Bucharest, there is a town called Urlati. From the verb “urla”, to howl, its name could be translated as Screamtown. While there is some debate about how this came to be, one story goes that the townsfolk got so drunk all the time that you could hear [...]
Sweden in deadlock after polls show leading blocs neck-and-neck September 9, 2018 Sweden's centre-left and centre-right blocs are in a dead heat after an election in which the far-right Sweden Democrats were set to become the second-largest party in the historically liberal country. Partial results, with 80 per cent of districts counted, showed the ruling centre-left Social Democrats, headed by Stefan Lofven, and Greens and their Left [...]
Labour would make companies found employee share schemes September 9, 2018 Labour would make all private companies with more than 250 people set up “ownership funds”, giving workers financial stakes in their companies and a greater say in how they are run. Shadow chancellor John McDonnell revealed the plans in an interview with the Observer as Labour gears up for a general election which he predicted [...]
Socialists to the left, jokers to the right: the miserable state of British politics September 9, 2018 Take a step back and consider the state of British politics. The Labour party is now firmly, perhaps irredeemably, in the grip of the hard left – from top to toe. Its leadership would subsidise what it doesn't nationalise while its membership revels in a new factionalism that puts loyalty to the dear leader above [...]
John Lewis could face profit hit after heavy discounting September 9, 2018 Retailer the John Lewis Partnership may take a £50m hit to profits after slashing prices this summer in the wake of the collapse of House of Fraser. The Waitrose-owner was forced to cut prices after department chain House of Fraser collapsed into administration leading to mass stock clearance. Read more: Changing tastes shows retail’s centre [...]
Entertainment One faces investor butchering as boss looks to bring home the bacon September 9, 2018 Entertainment One, the company behind Peppa Pig, could be the latest victim of a shareholder revolt in a row over executive pay this week. Influential shareholder advisory firms Glass Lewis and ISS have recommended voting against the firm’s remuneration report on Thursday, a year after nearly half of the company’s investors voted against a £7.6m [...]
Debenhams calls in top auditors to weigh up potential insolvency September 9, 2018 Embattled department store chain Debenhams has called in Big Four accountancy firm KPMG to help carry out desperate restructuring measures which could include a controversial insolvency process. Among the contingency options currently being weighed up by KPMG is a company voluntary arrangement (CVA), which is an insolvency option that can be used to close stores [...]
Hotel group owner Surinder Arora prepares to challenge Heathrow with £14bn expansion bid September 9, 2018 The hotel tycoon behind an audacious bid to build and operate Heathrow’s third runway plans to put his money where his mouth is, challenging the airport’s operator for control of expansion plans. Surinder Arora has confirmed he intends to launch a formal bid to build a new terminal and runway at the airport, the busiest [...]
Insolvency service launches investigation into collapse of disgraced PR firm Bell Pottinger September 9, 2018 Several former partners of folded PR firm Bell Pottinger are being investigated by the Insolvency Service. The company collapsed a year ago following a scandal over its work for the Indian Gupta family in South Africa, where it was accused of deliberately stoking up racial tensions in the country. Letters have been sent to the partners [...]
Supplier joins growing calls for investigation into House of Fraser collapse September 9, 2018 Mike Ashley’s calls for an insolvency investigation into House of Fraser’s former directors were backed by one of the department store’s major suppliers today. Tea Terrace boss Ehab Shouly told the Sunday Times that House of Fraser’s erstwhile bosses withheld vital information about the company prior to its collapse last month. One source close to [...]