MJ Gleeson falls as it sacks boss June 10, 2019 MJ Gleeson sacked its chief executive this morning after he came to blows with the board over pay. Jolyon Harrison, who has been in the post since 2012, stepped down with immediate effect. The board said it was “not possible to find a mutually acceptable basis for Mr Harrison to continue.” The decision follows “extensive [...]
Boris Johnson promises tax cut for 3m if he wins PM race June 10, 2019 Boris Johnson has promised to cut income tax for those earning more than £50,000 if he wins the Tory leadership race. Johnson said he would cut taxes for around 3m people by raising the 40p threshold from £50,000 to £80,000 if he becomes prime minister. “We should be raising thresholds of income tax – so [...]
UK agrees post-Brexit trade deal with South Korea June 10, 2019 The UK and South Korea have agreed to sign a free trade deal ahead of Britain’s departure from the European Union. Talks between international trade secretary Liam Fox and South Korean trade minister Yoo Myung-hee concluded in Seoul last night. Read more: Small businesses pessimistic over Brexit The in-principle agreement, which will be officially signed [...]
Helical shares surge on confirmation of bidder interest June 10, 2019 Shares in property developer Helical surged nearly five per cent this morning after it confirmed it has received multiple unsolicited approaches from buyers. “We can confirm that the company has in the recent past been in receipt of more than one unsolicited approach from different parties,” it announced to the stock exchange. “To date all [...]
Thomas Cook shares take off on potential Fosun deal June 10, 2019 Thomas Cook shares soared more than 18 per cent this morning after the travel agent confirmed it was in talks with Fosun International over the sale of its tour operator business. The Chinese tourism company, which is Thomas Cook’s largest shareholder, has approached the company over a potential takeover. Read more: Fosun lines up bid [...]
Aviva pushes out female senior exec while on maternity leave June 10, 2019 Insurer Aviva has pushed out one of its most senior female executives while she was on maternity leave. Chief people officer Sarah Morris went on maternity leave last July and was put on gardening leave at the end of May, the Sunday Times reported. Aviva refused to comment on the circumstances of Morris’s departure. In [...]
Hargreaves Lansdown boss apologises for Woodford fund suspension June 10, 2019 The boss of Hargreaves Lansdown has apologised to clients who have been affected by the suspension of investor Neil Woodford’s flagship fund. In a statement Chris Hill said: “I would like to apologise personally to all clients who have been impacted by the recent problems with the Woodford Equity Income Fund. We all share their disappointment [...]
High street retailers take hit from drop in footfall June 10, 2019 High streets, retail parks and shopping centres all suffered a year-on-year drop in footfall last month, according to new figures which underline the tough trading conditions facing bricks and mortar firms. The number of shoppers plunged by 3.5 per cent in May, compared with a drop of 0.4 per cent during the same month last [...]
Three becomes latest UK mobile operator to set 5G launch date June 10, 2019 Mobile operator Three will begin the rollout of its 5G network across the UK from August, the company said today. Read more: 5G explainer: Everything you need to know about the next-generation network Three said it will launch the next-generation network with a 5G home broadband service in London. The firm will then roll out [...]
City Moves for 10 June – who’s switching jobs at CIMA, Wells Fargo and London Wall Partners? June 10, 2019 Who’s on the move today? CIMA Canadian finance leader Amal Ratnayake has been named 86th president of the Chartered Institute of Management Accountants (CIMA). In May, Ratnayake was also confirmed as chairman of the Association of International Certified Professional Accountants. As CIMA president, Ratnayake will represent 228,000 members and students across the world and be [...]