Liam Fox backs foreign secretary Jeremy Hunt for Tory leader June 4, 2019 Liam Fox has announced he will back foreign secretary Jeremy Hunt to replace Theresa May as prime minister. The international trade secretary- a Brexiteer – said he would support Hunt who earlier this week said pursuing a no-deal Brexit would be “political suicide”. Read more: Boris Johnson officially launches Tory leadership campaign Fox is the [...]
First Group launches searing attack on ‘opportunistic’ activist investor June 4, 2019 Transport giant First Group has hit back at an activist investor trying to oust six of its board members, describing it as an “opportunistic, self-interested player that is only focused on short-term gains”. In a searing attack First Group has slammed US hedge fund Coast Capital for its “scatter-gun, inconsistent and unusual proposals” and warned [...]
Intu appoints ex-Crest Nicholson exec as new finance chief June 4, 2019 Troubled retail operator Intu has appointed ex-Crest Nicholson finance chief Robert Allen as its new chief financial officer. Allen, who left the FTSE 250 housebuilder in 2018 after two years, will join Intu on Monday. Read more: JP Morgan downgrades shopping centre landlord Intu Interim finance chief Barbara Gibbs will resume her director of finance [...]
AO World extends losses as chief says ‘we can do better’ June 4, 2019 Electricals retailer AO World extended its losses in the 2018 financial year, its results showed today, as the firm’s earnings fell in Europe. Read more: AO World spends £15m on Brexit stockpiling as founder returns as CEO John Roberts, the chief executive who in January took back charge of the company he founded, said: “We [...]
It’s D-day for Schleck May 31, 2019 CYCLING: Front-runner Andy Schleck believes his battle with Albert Contador to win the Tour de France will be decided during today’s climb up Col de Tourmalet. Defending champion Contador holds an eight-second lead over the Luxembourg rider with four stages remaining, but Schleck said: “I believe the Tour will be decided on the Tourmalet – [...]
We need reform – but that does not make Marx right May 30, 2019 KARL Marx is not exactly back, but he is being mentioned far more frequently these days, and not just on the steps of St Paul’s. I was even asked recently (by an accountant whose pay probably put him in the UK’s top one per cent of earners) whether I thought that elevated levels of unemployment [...]
Thames Water revises five-year business plan following criticism from regulator Ofwat over cost-efficiency | City A.M. April 1, 2019 Thames Water has submitted its revised five-year business plan after regulator Ofwat slammed the company for failing to meet cost-efficiency standards. The utility firm said it today handed over an improved plan, which includes commitments to reduce combined bills by 1.3 per cent an increase base cost efficiency by 22.5 per cent per customer. Read [...]
DEBATE: Is Apple’s launch of a credit card a good idea for the tech giant? | City A.M. April 1, 2019 Is Apple’s launch of a credit card a good idea for the tech giant? Andrew Mitchell, vice president at JCB, says YES. Despite the steady growth of Apple Pay, it’s relatively early for Apple in the payments sphere. However, this product could be a catalyst, strengthening Apple’s position in financial services as well as reviving [...]