Leisure billionaire Trevor Hemmings sues former plaintiffs over unpaid RBS legal fees August 19, 2018 A vehicle controlled by the enigmatic billionaire Trevor Hemmings has accused a swathe of groups, including nine Lloyds subsidiaries, of attempting to “unjustly enrich” themselves dodging litigation costs related to a £200m claim against RBS. Manx Capital, a group owned by Hemmings, is leading thousands of shareholders in the claim, which has been fraught with [...]
Amazon eyes Homebase stores marked for closure August 19, 2018 Amazon is set to bid for a selection of Homebase stores in a move to improve its last mile delivery process. The online retailer could turn the stores into delivery warehouses when Homebase closes 42 of its 241 sites through a company voluntary arrangement this year. Amazon could use the sites, which are conveniently located in urban [...]
Will Smith launches sustainable bottled water brand August 19, 2018 Will Smith has launched a "sustainable" bottled water brand in the UK. Just Water, set up by the actor and his son Jaden, has 82 per cent renewable paper packaging and is recyclable in nine out of ten UK communities. The product will be stocked in 800 Boots stores and all Whole Foods Market shops across the country. [...]
Standard Chartered executive warning over Brexit jobs exodus August 19, 2018 A Standard Chartered executive has warned that more jobs could leave the UK after Brexit. Europe and Americas regional chief executive Tracey Clarke said UK headquartered banks could be forced to move more jobs to mainland Europe than originally planned in a bid to meet banking compliance rules. The bank is planning to convert its [...]
UK companies dividend payouts drop in record breaking year for the rest of Europe August 19, 2018 The UK lagged behind Europe as global dividends surged almost 13 per cent to $497.4bn in the second quarter. It was a record breaking year for payments around the world except in the United Kingdom where dividend distribution fell 1.4 per cent to $32.1bn. "Technical difficulties" were the cause of the decline while the rest of Europe dominated [...]
Labour Party suspends former MP as anti-semitism row shows no sign of quieting down August 18, 2018 The Labour Party’s ongoing anti-semitism row has hit the headlines again today following the suspension of a former MP over a social media outburst. Jim Sheridan, who lost his parliamentary seat in 2015, was alleged to have said he had lost his respect and empathy for the Jewish community and their suffering “due to what they and [...]
House of Fraser owed millions to major brands before collapse August 18, 2018 House of Fraser racked up debts of almost £500m in the run-up to its collapse, owing major designer brands such as Gucci, Armani and Mulberry. Administrators Ernst & Young (EY) have reported that the chain’s creditors are owed sums totalling hundreds of millions of pounds, with more than 1,000 suppliers set to be out of [...]
Greater London property lull sinks lower as house prices per square metre fall for the first time in eight years August 18, 2018 Property growth per square metre has slowed down in Greater London, providing fresh evidence of a subdued housing market in the capital. Greater London property space suffered the lowest growth out of any region in the last 12 months, with house prices per square metre (psm) falling for the first time in eight years. House [...]
Administration filings tumble despite major retail insolvencies August 18, 2018 The number of firms falling into administration fell dramatically in the second quarter of the year, despite a series of high profile insolvencies hitting the headlines in recent months. A total 302 companies entered administration in the three months from April to June, marking a 13 per cent fall from the previous quarter. However, the figure [...]
RBS announces interim chief financial officer as Ewen Stevenson prepares to depart August 17, 2018 The Royal Bank of Scotland (RBS) said today it is to appoint deputy chief financial officer Katie Murray as interim CFO in October, replacing outgoing CFO Ewen Stevenson, who is set to join HSBC. Stevenson will step down after four years in the role on 30 September and will be placed on gardening leave until the end of November. Stevenson [...]