Outgoing Network Rail chief Mark Carne turns down £70,000 bonus over ongoing train timetable saga June 15, 2018 The outgoing boss of Network Rail Mark Carne has turned down his annual £74,000 bonus for the year following the company's role in the ongoing timetable disaster that has wreaked havoc across London and the North. Rail Magazine reported that Carne had written to the Network Rail chairman, Sir Peter Hendy, to say that he [...]
DWF latest law firm to catch flotation bug with £1bn IPO June 15, 2018 International law firm DWF is the latest law firm to signal its intention to float on the London Stock Exchange with a sale that could raise up to £1bn. The Times first reported that the firm was mulling an Initial Public Offering (IPO). It was later confirmed by the firm in a statement on its [...]
Iceland Food rules out deal with Amazon as Food Warehouse attracts new customers June 15, 2018 Iceland's boss has ruled out a deal with Amazon, telling City A.M. that "we don't want anything to do with them". The retailer reported steady sales growth this morning, as it eyes expansion into sites left vacant by the recent wave of store closures and grows its online business. But managing director Tarsem Dhaliwal said [...]
Editor’s Notes: Without the UK, the EU can resume its march to ever closer union, Nex’s Michael Spencer backs British bubbly and Lady Wilson remembered June 15, 2018 Earlier this week I chaired a discussion at TheCityUK’s annual conference, where several people, including the lobby group’s chairman, John McFarlane, stressed the point that “there’s life beyond Brexit”. It can’t be said often enough, given how much of our national attention and energy has been sucked into the black hole of Brexit: the uncertainty, [...]
Tesco reports 10th consecutive quarter of sales growth as Booker deal boosts prospects June 15, 2018 Tesco today reported rising like-for-like sales for the 13 weeks ended 26 May, marking the 10th consecutive quarter of positive growth. The supermarket stalwart said like-for-like sales in the UK were up 2.1 per cent, while like-for-like sales in Booker soared by 14.3 per cent. Tesco said that was driven by "a strong underlying performance [...]
Incomplete journeys on the Tube could become history as TfL allows passengers using contactless to get payment updates on the go June 15, 2018 Incomplete journeys on the Tube could soon become a thing of the past for passengers with a penchant for contactless. Transport for London (TfL) has announced this morning that customers can now check their contactless journey history using their phone on the go, with real-time updates on the TfL app. Half of all Tube and [...]
Shuffleboarding bar London Shuffle Club to open permanent home in Shoreditch June 14, 2018 We thought a new axe-throwing venue was going to be this week's weirdest leisure news, but it seems we were wrong. Something called shuffleboarding is, apparently, taking the party crowd by storm and it has a new location not far from the City. Shuffleboarding is, according to London Shuffle Club, a "hot a nd popular [...]
Former chief executive Andrew Tinkler fired from Stobart board, company to launch legal proceedings ‘imminently’ June 14, 2018 Former chief executive Andrew Tinkler has been dismissed from the Stobart Group board, with immediate effect. The company will also be issuing legal proceedings against Tinkler imminently, for claims described in a letter from the company's chosen law firm as "a flagrant disregard for his [Tinkler's] fiduciary and contractual duties". The letter went on to [...]
The Deliveroo vs Just Eat food fight has only just begun June 14, 2018 In the City, you never know when you might be someone else's breakfast. Firms are hungry for market share, and a competitive edge is the dish of choice. Just Eat's shares plunged yesterday after Deliveroo announced an expansion of its platform which saw it square up to the FTSE 100 giant. For the first time, [...]
Ryanair calls for urgent action to prevent air traffic control strikes causing summer ‘meltdown’ June 14, 2018 Ryanair has called on EU governments to intervene in the ongoing crisis over Air Traffic Control (ATC) services, warning that if something is not done there will be a "meltdown" this summer. The budget airline has issued its call to arms as it prepares to grapple with more strikes by ATC staff in France this [...]