US luxury firm Coach to move into Jaeger’s flagship on Regent Street October 26, 2015 AMERICAN luxury goods group Coach is moving into Jaeger’s Regent Street flagship as the retailer packs its bags after more than 80 years on the site. Jaeger and the Crown Estate, which owns the freehold to the 200-206 Regent Street store, have agreed to sell the lease to Coach, which will relocate from its smaller [...]
M&A ranks last on executives’ priority list despite record activity October 26, 2015 Driving organic growth, not M&A, should be a top priority for businesses according to a survey of senior executives released today, despite a record-smashing year of deals across the globe. The survey carried out by interim management services firm Interim Partners found that over half (52 per cent) of interim executives thought that pursuing organic growth [...]
German discounter Aldi pledges to pay all UK staff above National Living Wage October 26, 2015 Aldi has set out to trump its supermarket rivals on pay by announcing today that it will pay all UK staff "significantly" above the living wage. The discount food retailer said all UK employees will be paid at least £8.40 an hour, and £9.45 in London from February 2016. This is ahead of the government’s national living wage of £7.20 an [...]
Aberdeen Asset Management boss Martin Gilbert in it for the long haul October 26, 2015 Aberdeen Asset Management founder and boss Martin Gilbert has no intention of selling the company, a senior source said last night. A report yesterday suggested that the FTSE 100 company is looking for potential buyers as it seeks to turn around its fortunes. Aberdeen has endured a tough six months with its shares dropping by [...]
Nameless CVs: David Cameron to announce new measures aimed at reducing discrimination using ‘name-blind’ recruitment October 26, 2015 A selection of major public and private sector employers are pledging to operate ‘name-blind’ recruitment for their graduate roles to tackle discrimination, the Prime Minister will announce later today. Organisations signing the pledge, who employ 1.8 million people between them, include bank HSBC, professional services firms Deloitte and KPMG, the BBC and NHS England. The [...]
Medium-sized businesses outperforming FTSE 100 firms in the profits game – BDO October 26, 2015 Profits at medium-sized businesses are outperforming FTSE 100 constituents, according to new research published today. According to accountancy firm BDO, firms with revenue between £10m to £300m have recorded profits up an average of 110 per cent compared to FTSE 100 shrinkage of three per cent. Turnover growth at mid-sized companies has also been strong, up [...]
New mortgage rules to affect dual currency earners – Investec Comment October 25, 2015 Coming into force in March next year is the EU Mortgage Credit Directive, and it is likely to have a significant impact on many who work in the City. It has a variety of implications, including for buy-to-let mortgages, but least well-understood is how it will affect the provision of mortgages for people who [...]
Volkswagen emissions scandal: German transport minister to meet US senior officials today to discuss VW October 25, 2015 Germany’s transport minister is in the US today to meet senior officials as Berlin seeks to put a lid on the Volkswagen emissions scandal. Alexander Dobrindt will discuss US regulators’ plans to increase scrutiny on automotive pollution with transportation secretary Anthony Foxx and officials from the Environmental Protection Agency. VW, the largest employer in Germany, could [...]
London office rents make record recovery since the crash October 25, 2015 The City office market is in record health, according to research from Knight Frank that shows rents have made a speedier recovery since the 2007 crisis than following previous financial downturns. In its latest report, the upmarket estate agent has tracked how rents in the Square Mile have fared since their pre-crisis peak in the fourth [...]
Guy Hands stands firm as Terra Firma braces for Four Seasons battle with creditors October 25, 2015 Guy Hands’ Terra Firma remains defiant in the face of reports that creditors and hedge funds are circling beleaguered care-home provider Four Seasons. Four Seasons Healthcare, Britain’s largest care-home operator, with more than 20,000 elderly residents was Terra Firma’s largest investment since its purchase of EMI, but it is struggling with interest payments of more than [...]