Tesco: What assets has it sold and what’s left at the checkout after £4bn South Korea Homeplus sale? September 7, 2015 Tesco has bagged up another asset, adding a nice £4.2bn to its coffers from the sale of its South Korean Homeplus business to a consortium of investors, it was revealed today. It's a major milestone in the supermarket's efforts at fixing its balance sheet – here's how it's progressing so far. Bagged up South Korea [...]
Glencore’s share price soars 10.2 per cent as it reveals billion-dollar debt reduction plan and rights issue September 7, 2015 Fresh from taking a battering as a result of China, which has resulted in S&P downgrading its credit rating, commodities trader Glencore is tapping shareholders for a further $2.5bn (£1.64bn) rights issue. The business, which floated in May 2011, said it was seeking the money as part of a plan to reduce net debt [...]
Even Primark can’t save Associated British Foods from a drop in profits this year, as sugar and currency woes hit the business hard September 7, 2015 Associated British Foods (ABF) has confirmed its adjusted operating profit will decline for the full year as its has failed to offset challenges in its sugar division and currency headwinds. Operating profit at constant currency will be ahead of last year for grocery, agriculture, ingredients and retail, ABF said this morning. The firm's share [...]
Executive pay: FTSE 100 bosses miss out on bonus boost September 6, 2015 More than a third of FTSE 100 chief executives missed out on pay rises this year, according to a PwC report out today. This is up from a quarter of bosses whose pay did not get a lift in 2014. Of those who received a boost, the average increase was three per cent, taking [...]
Jet2.com expands fleet ordering 27 new Boeing aircraft September 4, 2015 Leeds-based Jet2.com has ordered 27 new Boeing aircraft, the airline said today. Read more: Airline Jet2 flies to Manchester after Blackpool Airport confirms closure In a statement, it said it had agreed to purchase 27 new Boeing 737-800NG aircraft, to be delivered between September 2016 and April 2018. Philip Meeson, the airline's chief executive, said [...]
Top 100 undergraduate employers: Bank of America Merrill Lynch is the UK’s best employer for recent graduates and other young talent September 4, 2015 It’s hard to find qualified work as a student, but some UK companies are better than others at making the most of undergraduate talent. Bank of America Merrill Lynch has claimed the top spot, as last year’s winner Barclays dropped down to the ninth place on the list when Rate My Placement ranked the top [...]
Hugo Boss fined £1.2m over four-year-old’s death September 4, 2015 German designer Hugo Boss has been fined over the death of a four-year-old boy killed in a store when a mirror fell on top of him. An inquest has concluded that the store should have done more to prevent the mirror falling, and fined the company £1.2m. The accident occurred in the summer of 2013 [...]
McWhopper 2.0: Burger King wants to make a mash-up with Denny’s, Wayback Burger, Krystal and Giraffas – and McDonald’s is still invited September 4, 2015 A new twist in the McWhopper tale: Burger King’s McWhopper PR stunt, which was immediately shut down by its rival McDonald’s has been resurrected, after several other fast food chains "begged" to collaborate on its Peace Day campaign, it said. Burger King had an innovative idea for Peace Day. The fast food company held out [...]
Cyber attack against Match.com exposes millions of singles to malware September 4, 2015 UK’s online daters could be the victims of cyber crime, after researchers discovered a malware attack aimed at Match.com’s millions of users. The malicious content is being spread through adverts on the website in a “malvertising attack” which is reportedly targeting UK users in particular. Match.com’s servers have not been breached. The site’s users risk [...]
Mulberry finance director Roger Mather resigns September 4, 2015 Mulberry’s finance director Roger Mather is stepping down from the luxury goods group, in another blow to the company, which has been struggling to restore its fortunes. Mather will depart from Mulberry after eight years “to seek further career opportunities,” a spokesperson for the company said, adding that it had been "entirely his decision to [...]