#UhOh: Twitter shares fall further as chief exec Jack Dorsey set to come under pressure September 9, 2016 Twitter’s shares tumbled six per cent in the US yesterday amid reports that the firm’s chief executive is under pressure to turn things around within the next few quarters. The social media giant’s board met on Thursday to look at money-saving options, CNBC first reported, and a sale of the company could also be considered. [...]
“I am not in control of the process”: Philip Green denies trying to blackmail the Pensions Regulator over the BHS Pension scheme September 9, 2016 Sir Philip Green has hit back at allegations he has tried to blackmail The Pensions Regulator in his ongoing negotiations over BHS' pension deficit. The retail tycoon – who sold BHS to serial bankrupt Dominic Chappell for £1 – said he was "not in control of the process". He said: There have also been suggestions [...]
Greene King warns that Brexit could hurt pub industry after strong summer September 9, 2016 The Euro 2016 football championship and sunny summer weather helped pub group Greene King enjoy a "strong start to the year", but the company said it is preparing for tougher trading conditions as a result of the recent Brexit vote. Shares in the company were down 3.8 per cent in early trading. The firm reported 1.7 [...]
Wetherspoon’s boss Tim Martin slams everyone who backed Remain in a lengthy essay September 9, 2016 On announcing his company's preliminary results this morning, JD Wetherspoon chairman Tim Martin took the opportunity to slam David Cameron and George Osborne for their conduct during the referendum campaign. In great detail, Martin listed the people who forecast a disastrous downturn for the country, in some cases, even citing the newspaper article they were featured in. [...]
High street sales struggled for the seventh month in a row in August September 9, 2016 High street retailers haven't managed to increase sales since the beginning of the year, according to data released today. Sales fell by 1.5 per cent year-on-year in August, which is the seventh month in a row of no growth for the sector, according to accountants BDO. Consumer confidence has bounced back somewhat since its immediate trough [...]
North Korea shakes global community with fifth nuclear test September 9, 2016 North Korea has claimed to have successfully carried out its fifth nuclear test – just hours after an earthquake was detected near its nuclear test site. The South Korean President Park Geun-hye has slammed the test, saying the act of "self-destruction" presented a serious challenge for the global community, and showed North Korea's "maniacal recklessness". Park said: [...]
Pressure for pay reform may now be irresistible September 9, 2016 Chris Philp’s timing is impeccable. Theresa May’s fresh vow to reform executive pay had no sooner been uttered this week than her fellow Conservative MP was spraying bullets at company directors, institutional investors and remuneration consultants. A looming autumn crackdown by the government explains why committee room 15 in the House of Commons was packed on [...]
City Moves for 9 September 2016 | Who’s switching jobs September 9, 2016 UBS Asset Management UBS Asset Management has appointed Pedro Coelho as head of UBS ETFs Spain. In his role, Pedro will be responsible for business development for ETFs and will aim to grow and strengthen the professional client relationships in all key market segments. Pedro started his career in the financial sector in 2000 in Lisbon and before [...]
In Brexit Britain, will charity begin (and end) at home? September 9, 2016 Government is gearing back into action after a surprisingly business-as-usual summer. MPs have returned, announcements have started and there is one issue lodged at the top of the in-tray. Despite Theresa May’s pledge not to provide a “running commentary” on Brexit, it seems unstoppable. The Prime Minister has already ruled out a point-based immigration system, [...]
UK named as best G20 country for starting a digital business September 9, 2016 The UK has been named as the best G20 country for ease of starting a digital business. Britain scored the highest marks for digital business environment – which includes regulation such as recruitment practices, tax frameworks, time taken to start a business and legal efficiency – in accountancy firm EY’s G20 Digital Entrepreneurship Barometer, which [...]