Stobart suffers bloody nose as investors revolt against pay July 23, 2019 A campaign by former Stobart boss Andrew Tinkler to oust chief executive Warwick Brady floundered today but a chunk of investors gave the firm a bloody nose in a spat over pay. Tinkler, who has been engaged in a number of court battles with Stobart over his failed attempt to oust former chairman Iain Ferguson [...]
City law firm Simmons & Simmons buys legal engineering startup to turbocharge Libor replacement July 23, 2019 City law firm Simmons & Simmons today said it had acquired legal engineering firm Wavelength to help its clients on large projects such as the replacement of Libor. Wavelength describes itself as the first regulated legal engineering business in the world. Its chief executive Peter Lee said Wavelength applies data science, technology and design to [...]
Passport-maker De La Rue under investigation by fraud squad over suspected corruption July 23, 2019 Passport and banknote-maker De La Rue said today it is under investigation by the Serious Fraud Office (SFO) over suspected corruption. De La Rue told the stock market this afternoon that the SFO had opened an investigation into the company and its associated persons in relation to suspected corruption in South Sudan. De La Rue’s [...]
Heathrow passenger numbers climb to record 39m July 23, 2019 Heathrow passenger numbers reached a record high of 38.8m in the first half of this year, a near two per cent increase on the previous year. The figures Profit before tax dropped at the airport dropped from £289m from the six months ended June 2018 to just £7m over the same period in 2019. Revenues [...]
Struggling Metro Bank drafts in two senior directors July 22, 2019 Under-fire lender Metro Bank has drafted in two new senior executives as the firm looks to revamp its reputation after a turbulent six months. The high street bank said this afternoon that it has appointed a new chief information officer and chief transformation officer following a major accountancy error that has rocked investor confidence. Read [...]
Department for International Trade to be given part of £14bn aid budget July 22, 2019 The UK’s £14bn aid budget is to be partially allocated to the Department for International Trade (DIT). The DIT, led by international trade secretary Liam Fox, will spend the funds on helping developing countries with issues such as securing trade and foreign investment. Read more: Liam Fox says UK needs a trade deal with Turkey [...]
Homebase buys Bathstore out of administration July 22, 2019 Homebase has bought Bathstore out of administration, however, hundreds of jobs remain at risk as 124 stores are facing closure. The company will take over 44 branches and the Bathstore website, and plans to open a “significant” number of concessions within its own stores over the next 18 months. Read more: Homebase closes in on [...]
Sainsbury’s partners with Deliveroo on pizza takeaway service July 22, 2019 Sainsbury’s has teamed up with Deliveroo to launch a takeaway pizza trial as the supermarket targets a slice of the expanding delivery market. Supermarkets are attempting to jump on the food delivery bandwagon as they seek new areas of growth. The UK’s food delivery market is worth £8.1bn, up 13.4 per cent since 2017, and [...]
Tory MP Charlie Elphicke charged with three counts of sexual assault July 22, 2019 Conservative MP Charlie Elphicke has been charged with three counts of sexual assault against two women, the Crown Prosecution Service (CPS) has revealed today. Read more: Government launches review into Britain’s financial rules post-Brexit A CPS spokesperson said: “The Crown Prosecution Service has today (Monday 22 July) charged Charles Elphicke, MP for Dover, with three [...]