Powerleague scores own-goal as it announces closure of 13 sites September 28, 2018 Five-a-side footie pitch operator Powerleague has today tabled a rescue plan which will result in it closing 13 sites and axing 109 jobs. It currently runs 440 pitches on 50 sites, but has struggled with falling revenues and has struggled to pay the leases on its properties. The firm wants to make the changes through a [...]
Legal & General joins growing shareholder revolt against Unilever plans to quit London September 28, 2018 The investment arm of Legal & General (L&G) is set to vote against Unilever’s plans to ditch its London headquarters and the FTSE 100 to incorporate solely in the Netherlands next month. The investment giant took the unusual step of revealing its voting plans before Unilever’s crunch shareholder meeting on 26 October to decide its future. [...]
Millennium & Copthorne Hotels boss steps down after just three months in role September 28, 2018 The chief exec of hotels group Millennium & Copthorne (M&C) has stepped down from the role just three months after taking over. A statement from the company said Jennifer Fox and M&C had "mutually agreed" she would leave with immediate effect. The firm's chief of staff Tan Kian Seng will step in as interim boss while [...]
Gintastic: Chapel Down to open new Kings Cross gin bar amid healthy results September 27, 2018 English drinks firm Chapel Down posted its results with a twist this morning, revealing a new bar, restaurant and gin distillery venture to be opened in Kings Cross in March 2019. Named the Chapel Down Gin Works, chief executive Frazer Thompson is hoping to build on the success of its vodka and gin products [...]
Ikea accused of ‘vicious’ anti-union campaign, allegedly using intimidation tactics September 27, 2018 Ikea violated workers’ rights to unionise in three countries, a federation of unions has claimed in a complaint filed to the OECD. The UNI Global Union, a collection of 900 unions from 140 countries, accuses Ikea of a “vicious anti-union campaign in the United States, Ireland, and Portugal.” Read more: Samsung Electronics boss indicted for [...]
Online betting firm 888 shares drop after increased regulation hits UK revenue September 27, 2018 Shares in online gambling firm 888 dropped nine per cent today after the company reported a poor opening half to the year in its key UK market. UK revenues decreased 18 per cent to $86.5m (£65.9m) as the company responded to increased regulation and refocused its marketing to the highest return-generating areas. Read more: Shares [...]
Sainsbury’s-Asda merger will impact competition in 463 local areas, competition watchdog warns September 27, 2018 The UK competition authority today warned the mega merger between Asda and Sainsbury's could Seriously lessen competition in 463 local areas across the country. To solve the issue, the new business may have to sell off hundreds of the overlapping stores. Last week, the Competition and Markets Authority (CMA) said its concerns around the merger were [...]
Chained to its rival? Halfords swoops in for embattled bike chain Evans Cycles September 27, 2018 Britain’s largest bike chain Halfords is in talks to rescue its beleaguered rival Evans Cycles, according to Sky News late last night. Halfords is understood to be one of several parties which have shown interest in buying Evans, which has hurried up the bidding process in an effort to avoid collapse. The news comes [...]
Tui avoids market turbulence to fly through summer despite UK heatwave September 27, 2018 Tui has avoided the market turbulence caused by the UK heatwave and flown through the summer with customer volumes up 4 per cent. The travel group said it expected a fourth consecutive year of double digit growth ahead of its full year results in December, re-iterating its 10 per cent growth guidance. Earlier this week [...]
H&M revenues bounce after online focus, but logistics system dampens profits September 27, 2018 Swedish fashion brand H&M posted bumper revenues for the nine months to the end of August this morning, as third-quarter sales climbed amid the retailer’s efforts to ramp up its online shopping operations in the wake of persistent high street troubles. Revenues in the third quarter of 2018 climbed nine per cent to Skr64.8bn [...]