Alex Hope goes to ground after City A.M. reveals his FSA arrest April 4, 2012 ALEX Hope, the 23-year-old foreign exchange trader who was arrested on Tuesday by the Financial Services Authority (FSA), has gone to ground after City A.M. broke the news of his arrest. Hope first came to prominence after spending £125,000 on a single bottle of champagne as part of a £200,000 bar bill in a Liverpool [...]
Network Rail is fined £4m for fatal train crash April 4, 2012 NETWORK Rail has been fined £4m for “preventable” safety failings that led to a fatal train crash in Cumbria in 2007. The publicly-funded owner of Britain’s railways was sentenced at Preston Crown Court yesterday for a breach of health and safety law that caused a Virgin Pendolino to come off the tracks on the West [...]
Ex-chief of JJB charged amid £1m fraud case April 4, 2012 THE former chief executive of JJB Sports, Chris Ronnie, has been charged after a two and a half year probe into an alleged £1m fraud. The Serious Fraud Office (SFO) yesterday announced that Ronnie has been charged with three fraud offences, two counts of money laundering and two counts of furnishing false information, in relation to contracts [...]
…As firm gets up to £65m in fresh funding April 4, 2012 STRUGGLING sports retailer JJB last night revealed it had secured up to £65m worth of fresh investment as it battles to safeguard its future. The company, which saw its share price almost double earlier this week when it confirmed talks with a strategic partner, said that US sports chain Dicks would be investing £20m in [...]
Tesco sheds its value stripes in UK rebranding April 4, 2012 TESCO has scrapped its blue-and- white striped Tesco Value range of products in favour of a new updated brand, as chief executive Philip Clarke continues to shake up the business in an attempt to revive UK sales. The Everyday Value range, made up of 550 products, will feature more colourful and “softer” packaging compared with [...]
Clarke makes a play to show investors he means business April 4, 2012 PHILIP Clarke’s power grab for Tesco’s UK business last month was a bold move by the flailing supermarket’s chief executive. It left analysts predicting a crunch year for Clarke – who took over from Terry Leahy in March last year – with a clear case of sink or swim on the cards should he fail [...]
Hays predicts strong 2012 growth in Asia April 4, 2012 BRITISH recruitment firm Hays expects strong double-digit growth in its Asia business this year on strength in the resources and information technology sectors, and is more optimistic about the global outlook, its top executive said yesterday. Chief executive Alistair Cox said that while consumers, companies and employees seemed paralysed last year by uncertainty over the [...]
Yahoo cuts 2,000 staff… April 4, 2012 YAHOO yesterday began notifying 2,000 of its staff that their jobs no longer exist, as the internet company embarked on its sixth major round of jobs cuts in the last four years. Yahoo said it expects to realise $375m (£235.7m) of annual savings from the restructure, but it could incur a one-off charge of $125m to [...]
…But Skype hires 400 and puts 100 workers in new London hub April 4, 2012 SKYPE yesterday unveiled an expansion plan that will see the online phone group increase its European presence and hire 400 extra people across five cities worldwide. The Microsoft-owned company, which already has an office in the West End, is upping its London workforce by 100 and opening a new technology centre in the city. Skype [...]
Amazon picks up Tech City offices April 4, 2012 PUSHBUTTON is relocating from its current 2,000 square foot digs to an office 25 times the size as Amazon shows its support for London’s flourishing Tech City. The ten year old company, which was bought by Amazon last year, designs tools that allow TV viewers to watch and interact with media across a range of [...]