Frasers Group makes cash offer for Australia’s My Sale August 17, 2022 Sports Direct owner Frasers Group has made a cash offer to snag the Australian e-commerce site MySale, after becoming its largest shareholder. Mike Ashley’s retail emporium announced the offer for a 100 per cent stake in the firm on Wednesday morning, at a price of 2p per share. Frasers presently holds a 28.7 per cent [...]
Auditor BDO quits Tory co-chair’s concierge service Quintessentially August 17, 2022 BDO is reportedly resigning as auditor of Quintessentially, the members-only concierge service founded by Tory party co-chair Ben Elliot, following a breakdown in their relationship. The auditing firm has cut ties with Quintessentially’s travel service, and is also set to exit its relationship with the wider group, the Financial Times reported. BDO declined to comment on the report. [...]
Asda chair slams Boris Johnson for not being ‘in charge’ as UK flounders amid cost of living crisis August 17, 2022 Boris Johnson has been lambasted by Asda boss Stuart Rose for being on “shore leave” as the UK faces economic turmoil. The supermarket chairman has criticised the Prime Minister for treating his last few weeks in the job as “one big party,” while the country is in the throes of a cost of living crisis. [...]
Asos shares slip after top exec announces departure August 17, 2022 The ASOS board have agreed a phased plan under which Mat Dunn, Chief Operating Officer and Chief Financial Officer, will step down from his roles as ASOS restructures its executive team.
Cineworld tanks as firm considers share dilution amid dwindling demand August 17, 2022 Cineworld said that despite a gradual recovery of demand since re-opening in April 2021, recent admission levels have been below expectations due to limited film slates.
Bar chain owned by ex-Dragons’ Den investor receives £10m cash injection for expansion August 17, 2022 The owner of the Cocktail Club bar chain has received a £10m funding injection from HSBC UK in order to continue its expansion plans. Nightcap, which was founded by former Dragons’ Den investor Sarah Willingham and Michael Toxvaerd in 2020, is eyeing almost two dozen additional sites. The chain – which owns The Cocktail Club, [...]
Pubs feel pinch of energy and supply chain inflation August 17, 2022 HOSPITALITY businesses renewed calls yesterday for an emergency VAT cut as the sector deals with rampant energy hikes. New research released yesterday suggested that most bars and restaurants are dealing with “significant” energy cost hikes whilst a majority are also seeing dramatic hikes in their food and drink costs. The new data, compiled by consultancy [...]
Pubs are vital parts of our community: they urgently need a tax cut August 16, 2022 If the pandemic taught us one thing, it’s that the City is far more than traders, brokers and bankers. It’s the teams who packed up a host of high-end kit on a Friday and parked it in front rooms in the Home Counties in time for Monday’s open; the insurers and the compliance bods who [...]
Harrods threatens to become first major employer to use agency staff as strikebreakers August 16, 2022 The staffing agency industry’s trade body has hit out at Harrods after the luxury department store threatened to take advantage of new laws allowing it to break strikes using temporary workers. Harrods told its staff it is willing to use temporary workers to keep its shop running after employees at the Knightsbridge shop threatened to [...]
Brexit Britain no longer seen as potential home for EU citizens: New arrivals drop by 90 per cent in just one year August 16, 2022 The number of citizens from member states of the European Union that moved to Britain has dropped dramatically, according to new figures seen by City A.M. Data from the Migration Observatory, part of the University of Oxford, showed that just under 43,000 EU citizens obtained UK visas for work, study, family or other purposes last [...]