Boots to cut up to 350 jobs as part of plans to simplify chemist business February 1, 2016 Boots is to cut between 300 and 350 managerial roles from its UK stores as part of a wider move to simplify the business. The chemist, which was bought by Walgreens in 2014, has started consultation with its assistant store managers in the larger stores across the country. Although it admitted some of the job cuts would come [...]
Concerns rise over break in performance related pay for bankers, as firms stuggle to balance risk and rewards February 1, 2016 Financial services firms around the world have continue to wean staff off bonuses and onto fixed salaries throughout 2015, raising concerns banks are unable to properly penalise misconduct. The report, by consultancy Mercer, found that the financial industry is struggling to balance rewards for taking positive risks with sanctions against rule breaking. Dirk Vink, a [...]
Smith and Nephew announces chief executive cancer diagnosis February 1, 2016 Smith & Nephew, the orthopaedics giant that’s Europe's biggest maker of artificial hips and knees, has announced today its chief executive Olivier Bohuon has been diagnosed with cancer. Bohuon will remain in his role during his treatment period, beginning later this month. The company described the form of cancer as “highly treatable”, and said Bohuon [...]
John Lewis to launch in the Middle East with Dubai store February 1, 2016 John Lewis is ramping up its expansion outside of the UK with plans to open its first store in the Middle East. The department store group has struck a deal to open a shop-in-shop in the Robinsons department store in Dubai Festival City Mall – both of which are part of Middle Eastern retail conglomerate Al-Futtaim. The 15,000 square feet shop will be [...]
Migrant crisis: EuroTunnel has hired French soldier Dominique Schmitlin to head its security February 1, 2016 British jokes about French soldiers might soon have to stop – one is now guarding the Calais border. Channel tunnel operator Eurotunnel has appointed a French helicopter commander in a new role as security director to “beef up” precautions over the migrant crisis. Dominique Schmitlin started his 33-year military career in the army’s combat chopper [...]
McCarthy & Stone on course to build 3,000 retirement homes a year February 1, 2016 Fresh from its £1bn November IPO, retirement home builder McCarthy & Stone remains on course to build more than 3,000 homes a year in the medium term and hit targets for 2016, it said today. Three regional offices which opened last autumn are also bringing in profit and land, the group said in a trading update. The company’s [...]
M&G nabs Aberdeen Asset Management chief investment officer Anne Richards as chief executive Michael McLintock announces plans to retire February 1, 2016 M&G, the asset management arm of the Prudential, has poached Anne Richards, the chief investment officer of Aberdeen Asset Management, to take on the role of chief executive when Michael McLintock steps down after 19 years. In a statement this morning, McLintock announced plans to retire later this year, saying it was "time for a change". [...]
China authorities arrest 21 executives from P2P lending scheme Ezubao on suspicion of running a Ponzi scheme February 1, 2016 Chinese authorities have arrested 21 executives from the country's largest peer-to-peer money lending platform on suspicion of stealing money from nearly a million investors – which could make it the world's largest Ponzi scheme. Reports from local media suggest investors have lost 50bn yuan (£5.3bn), which managers at Euzbao stole from around 900,000 investors. If true, it [...]
Crispy Pancakes maker to disappear from freezers as Findus is rebranded out of existence February 1, 2016 It's about to be a case of harder to Findus, after it was revealed everyone's favourite freezer-based food brand is planning on rebranding. The Grocer reported that Findus, best known for its Crispy Pancakes, is being taken off the shelves by its owner, Young's Seafood, in the spring, ostensibly in an effort to distance it [...]
Conviviality Retail’s share price climbs as it reveals boost to sales from Matthew Clark takeover as champagne and prosecco sales leap February 1, 2016 A strong Christmas has powered drinks company Conviviality Retail over the first half, with the Bargain Booze and Threshers group increasing its interim dividend. The figures The business, which completed its acquisition of wholesaler Matthew Clark in October, said group revenues jumped 38 per cent to £252m for the 27 weeks to 1 November. EBITDA was up 43 [...]