Laura Ashley scraps dividend after profits are slashed August 22, 2018 Laura Ashley blamed “a changing retail landscape” for a dramatic fall in profits this morning that saw them all but eradicated, and which led to its chairman not recommending a dividend for investors. The figures Amid a “challenging” trading environment the high street stalwart saw statutory profits crash by 98 per cent for the 12 [...]
Banks told not to assume fraud victims are at fault as scams become more sophisticated August 22, 2018 Banks have been reminded to treat fraud victims fairly and not assume customers were “grossly negligent” following an increase in the sophistication of scams. The Financial Ombudsman Service (FOS) has told banks they should take into account the evolution and sophistication of frauds and scams. Banks are not liable for money lost if the customer is [...]
‘Trump’s worst hour’: President in trouble as close allies fall foul of law August 22, 2018 The White House was thrown into disarray overnight as Donald Trump's former lawyer directly implicated the President in a crime involving hush money to pay off women. Trump’s former lawyer Michael Cohen admitted to breaking US campaign finance laws after paying off the President’s alleged mistresses, while ex-campaign manager Paul Manafort was also found guilty of [...]
Microsoft says Russia was behind several major US political group hacks August 21, 2018 Microsoft has warned that Russian state actors are ramping up cyberattacks ahead of the US congressional elections in November. The software giant said it had caught and shut down a number of web domains masquerading as websites belonging to the US Senate, two think tanks and its own cloud storage service in the last week. [...]
London keeps its crown as world’s top foreign exchange venue August 21, 2018 London extended its lead as the world’s premier foreign exchange trading venue last year, according to new figures which suggest the City has managed to bounce back from a fall in volumes and shrugged off Brexit uncertainty. Average daily trading volumes for foreign exchange in the Square Mile rose by 23 per cent year-on-year in [...]
Capita poaches Go-Ahead finance boss amid restructuring plan August 21, 2018 Outsourcing group Capita has snapped up the chief financial officer of transport group Go-Ahead to head up its own finance division. The company, which runs London's congestion charge scheme and collects the UK's TV licence fee, will announce the move of Patrick Butcher later this week according to reports from Sky News. Butcher will takeover [...]
Sajid Javid to apologise to 18 of the Windrush generation August 21, 2018 The Home Secretary will formally apologise to 18 members of the UK's Windrush generation who may have been wrongfully removed or detained. Sajid Javid will personally apologise and point them towards a compensation scheme, it was announced earlier today. Amnesty International said the government's apology to just 18 people was “worrying” and it was just [...]
Uber nabs former Merrill Lynch CFO as top finance boss in race to go public August 21, 2018 Ride-hailing giant Uber today filled the long-standing vacancy of chief financial officer, easing investor concerns ahead of its plans for an initial public offering (IPO) in 2019. The spot, which was left empty after its previous occupant Brent Callinicos departed in 2015, has been plugged by financial services veteran Nelson J. Chai. Chai joins Uber [...]
Brexit secretary Dominic Raab ‘confident’ UK will reach deal with EU by October August 21, 2018 Brexit secretary Dominic Raab has said he is “confident” the UK will reach an exit deal with the European Union by October. Speaking at a joint press conference with the EU’s chief negotiator Michel Barnier in Brussels, Raab said the two sides had the “ambition, pragmatism and energy” to reach a deal – but admitted [...]
Vice Media’s online food brand Munchies is to expand its physical presence with a food hall venture August 21, 2018 Munchies, the online food channel owned by Vice Media, is to expand its presence in the physical world. The publisher has agreed to a brand licensing contract for a food hall at American Dream Meadowlands, a retail complex an under construction in New Jersey. Agreed between the online brand and the centre owner, Triple Five [...]