Stock Spirits Group board will continue to pursue M&As despite shareholder rebellion from Luis Amaral April 10, 2016 Stock Spirits Group’s board of directors has said the company will not change its strategic direction, despite facing the beginnings of a shareholder rebellion last week. The major shareholder of the London-listed vodka producer, Portuguese retail tycoon Luis Amaral, wrote to investors last Tuesday telling them to oust chief executive Chris Heath at the company’s annual [...]
Barclays seems confused after news that the bank’s execs are trying to boost morale April 10, 2016 Barclays is denying claims that the bank's senior staff want employees to boost morale with a friendship survey. The statement comes after a report this weekend that bankers at the firm will be asked to take part in a survey in the coming weeks which asks staff who their best friend at the firm is. According [...]
Shoreditch-based fashion site Lyst kidnapped a DHL delivery driver to promote its designer DHL T-shirts April 10, 2016 Online fashion store Lyst will do anything to profit from the "ugly" fashion trend. The store, which is based in Shoreditch, "kidnapped" a delivery driver from German courier service DHL on Friday as it announced a surge of people searching for designer DHL-branded T-shirts on the firm's website. Help @dhlexpressuk they took my radio n van keys there [...]
MPs’ fury at David Cameron Liaison Committee snub ahead of EU referendum April 10, 2016 Prime Minister David Cameron has been accused of ignoring a “clear and unambiguous case” for him to attend a hearing with Parliament’s senior committee on the EU referendum. The chair of the Liaison Committee – comprised of the chairs of Parliament’s select committees – made the claim in a letter written to Cameron. Andrew Tyrie, [...]
Bondholders in Austrian ‘bad bank’ Heta hit by significant haircut April 10, 2016 Creditors in Austrian “bad bank” Heta Asset Resolution will receive less than half of their money back according to the country’s financial regulator, the FMA. An FMA statement outlined that senior bondholders could expect to receive at least 46c/€ which would be paid from the realisation of assets by 2020 – and said that this [...]
M&A: Willis Towers Watson merger believed to be able to survive inversion rule changes unscathed April 10, 2016 The announced changes to the US inversion rules will not turn one of the insurance industry's most high-profile mergers on its head, the firm involved announced late last week. Willis Towers Watson, which was formed out of the successful merger of Towers Watson and Willis Group Holdings in January, issued a statement remarking that it did [...]
Japanese ice cream maker Akagi Nyugyo gave an intense public apology for raising the price of its products by 7p April 10, 2016 They say it's no use crying over spilt milk, but Japanese ice cream maker Akagi Nyugyo Co has raised the bar for corporate apologies. The firm, which known for its quirky mascot ‘Crunchy Boy’ and strange flavours including corn soup and potato stew, has created a heart-breaking video apology after a slight increase in product prices whipped up public [...]
Tesco full-year results: Three things you need to know April 10, 2016 Tesco may just have a shock in store for shareholders and the rest of the City – and for once, it's a good one. Call it a belated Easter gift. The struggling supermarket is about to report a surprise turnaround in sales after Dave Lewis's crack of the whip over the past several months. Belt tightening [...]
Panama Papers scandal: Mossack Fonseca says it is still waiting for a call from the taxman April 10, 2016 Ramon Fonseca, the founding partner of the law firm at the centre of the Panama Papers scandal, is showing the world that you're never too well known to find yourself sat by the phone, waiting for it to ring. The founding partner of Mossack Fonseca said in an interview on Saturday that his firm is still yet to [...]
Now Nicola Sturgeon has published her tax return for 2014/15 April 10, 2016 Scottish National Party (SNP) leader Nicola Sturgeon has become the latest politician to lay out her tax return for all to see, after the Panama Papers scandal called into question the tax dealings of numerous high-profile individuals. Sturgeon's tax return for tax year 2014/15, which was posted up on the SNP's website today, reveals that the [...]