Poker champion Phil Ivey loses ‘cheating’ case in court, but will appeal again November 3, 2016 Professional poker player Phil Ivey has lost an appeal against a London casino over whether he cheated to win £7.7m. The 39-year-old had challenged a decision from 2014 which said he had cheated in order to win the game, which then rendered his winnings invalid. The ten-time winner of the World Series of Poker achieved his winnings through "manipulating" [...]
Sir Philip Green’s BHS pension scheme offer fell short by £100m November 3, 2016 Sir Philip Green's offer to contribute to the BHS pension scheme was £100m less than the Pensions Regulator wanted, according to reports. The BBC has said that the regulator wants £350m from Green, but he was only willing to put in £250m. Yesterday, the regulator announced that it was starting legal action against Green to [...]
Four London Wahaca branches remain shut due to norovirus outbreak after hundreds were taken ill November 3, 2016 Mexican food chain Wahaca has had to close nine restaurants – five in London – after a suspected outbreak of norovirus. UPDATE: Wahaca has now reopened all its restaurants. Read more here. Public Health England (PHE) said it had launched an investigation after 205 staff and 160 members of the public fell ill. Most of [...]
Analysts welcome a full year of growth for Morrisons November 3, 2016 Morrisons' share price was climbing this morning after the retailer said that its like-for-like sales were up 1.6 per cent in the third quarter, marking a year of positive same-store sales. Halloween sales jumped 20 per cent in the period. The company's share price was up 1.2 per cent this morning as a result, and [...]
Adidas share price falls after sportswear giant announces Reebok restructuring November 3, 2016 Adidas' share price fell by over four per cent in morning trading as the German sportswear giant announced it would be taking one-off expenses to make investments for further growth and restructure the Reebok brand. In its third quarter report, the first set of results delivered under new chief executive Kasper Rorsted, Adidas said that net [...]
Jamie Oliver to buy back his Jamie’s Italian restaurants in Australia November 3, 2016 Jamie Oliver's on a mission Down Under. The celebrity chef is set to buy back his Jamie's Italian restaurants business in Australia, after Keystone Group (which ran the operation) collapsed and put the franchise up for sale. Receiver Morgan Kelly from Ferrier Hodgson confirmed Jamie Oliver Group was the preferred bidder for the six restaurants, [...]
The Aldi fightback is on: Morrisons records fourth consecutive quarter of growth November 3, 2016 After the devastating news that Morrisons was hiking the price of Marmite, it needed a good third quarter. And it has delivered the fourth consecutive quarter of growth, with sales up 1.6 per cent. Potentially a sign of, whisper it quietly, momentum building? The figures The 13 weeks to 30 October, like-for-like sales were up [...]
Watch this space: UK jewellery chains put up for sale November 2, 2016 The owner of some of the UK’s best-known jewellery chains has put them up for sale. Aurum Holdings, which is owned by US-based investment firm Apollo Global Management, has reportedly begun interviewing banks as it seeks to sell Goldsmiths, Mappin & Webb and Watches of Switzerland. Read more: Siran Manoukian on the inspiration for her [...]
Pensions Regulator steps up probe into Sir Philip Green November 2, 2016 The Pensions Regulator (TPR) has tonight intensified its investigation into Sir Philip Green as it seeks to end the crisis engulfing the retirement scheme of collapsed retailer BHS. Lesley Titcomb, the head of the pensions watchdog, announced late on Wednesday that TPR is to escalate its enforcement action as it seeks redress for 20,000 BHS pension scheme [...]
Alibaba has a “great” quarter as more mobile users and cloud computing customers see revenues shoot up November 2, 2016 China-based e-commerce company Alibaba announced strong results for the third quarter today as positive growth of its mobile users and cloud computing ventures saw revenue up 55 per cent since last year. Shares rose more than three per cent before the stock markets opened in New York on Wednesday. The company is gearing up for more record-breaking [...]