How did Sir Philip Green end up paying £363m towards the BHS pension scheme? Key episodes in the BHS box set March 1, 2017 Sir Philip Green finally stumped up some (well, quite a lot of) cash for the BHS pensions black hole yesterday, after a year of publicly fighting with MPs, Goldman Sachs bankers, journalists, and former race car driver and bankrupt Dominic Chappell. The sorry saga started two years ago, when Green was seeking advice from Goldman Sachs about [...]
A former City headhunter is transforming a sleepy French jam-making operation into a multi million pound business March 1, 2017 A former City headhunter is transforming a sleepy French jam-making operation into a multi million pound business supplying jams and condiments to Luxury hotels around the world. Eli Gifford, 34, once placed workers in London's distressed debt hedge fund industry for Morgan Hunt. Now he has doubled the size of a small Jam-making operation in [...]
Consumer goods group Ultimate Products heads for a £100m-plus IPO in the next few days March 1, 2017 Ultimate Products, the innovative consumer goods group, is set for a £100m-plus IPO in London within days. It will list on the main market under the name of UP Global Sourcing Holdings. The IPO’s pricing could take place as early as today. The placing is understood to be substantially oversubscribed with investors taking part believed [...]
Food prices are increasing at the fastest rate for two and a half years March 1, 2017 Food prices are increasing at the fastest rate for two and a half years as the fall in the value of sterling has forced supermarkets to pass on some of their costs to shoppers. Prices for food rose 0.4 per cent year-on-year in February, according to figures from Nielsen and the British Retail Consortium (BRC). [...]
Burberry shares jump after Belgium’s richest man snaps up three per cent stake February 28, 2017 Fashion darling Burberry's shares jumped today after reports that Belgium's richest man has snapped up a three per cent stake in the company. Shares rose nearly six per cent, the highest point since May 2015, after Albert Frere disclosed a stake in the trenchcoat maker. Known to be worth $4.9bn (£3.9bn), Frere also recently bought an undisclosed [...]
Sir Philip Green agrees to contribute £363m to BHS pension scheme February 28, 2017 Controversial retail tycoon Sir Philip Green has sought to put a torrid period of parliamentary and media scrutiny behind him, agreeing to put £363m in cash towards BHS’ substantial pension scheme deficit. MPs investigated the sale of BHS last year and labelled Green the "unacceptable face of capitalism" for selling the high street store to [...]
Tui UK says it’s “so very sorry for the pain and loss” caused by the 2015 Tunisia terror attack as families plan legal action February 28, 2017 Nick Longman, Tui UK's managing director, has said the company is "very sorry for the pain and loss" of those affected by the 2015 Tunisia terrorist attack. A coroner has concluded the police response to a terror attack at the Tunisian beach resort where 30 Britons died was "at best shambolic and at worse cowardly", [...]
When will it stop? Boohoo upgrades sales forecast yet again February 28, 2017 Boohoo has upgraded its sales forecast yet again, saying this morning that sales will double this year. Previously, Boohoo said its sales growth would be in the range of 46-48 per cent for the full year to 28 February. The online retailer, which targets millennials, said it had also improved its operations, meaning its margins [...]
KFC is advertising a suspicious (and gross) new “clean eating” burger – and everyone is suspicious February 28, 2017 KFC has either leaped, feet-first, onto the clean eating bandwagon – or it is expertly trolling the internet. The fried chicken chain has unveiled its new "clean eating burger" – a chia seed cauliflower "bun", unsweetened almond yoghurt, spiralized chicken breast, 100 per cent British kale, and an "ice cube relish". Er – yum? The fast [...]
Greggs hikes dividend as healthy food sales help boost profits February 28, 2017 Greggs has reported a jump in sales for last year, and has hiked its dividend after growing profits – but the baker is looking at job cuts as it aims for greater supply chain efficiency. The figures Total sales rose seven per cent to £894.2m from £835.7m, while company-managed like-for-like sales (which excludes franchises) went up [...]