Philips announces surprise departure of CEO Frans Van Houten August 16, 2022 Philips has announced the unexpected departure of its CEO Frans Van Houten in October after 12 years at the firm.
Watches of Switzerland to open new flagship London Rolex store August 16, 2022 Watches of Switzerland today set out plans to open a new 7,200 square foot flagship Rolex shop in Mayfair after posting strong results for the first half of 2022. The watch seller will relocate its Rolex Boutique from its current 900 square foot premises on Bond Street to new much larger premises down the [...]
UK competition watchdog closes case against Barratt over leasehold homes August 16, 2022 The UK’s competition watchdog has closed a case against one of the country’s largest housebuilders Barratt over its sale of leasehold homes. In a statement today, the Competition and Markets Authority (CMA) said that “it was insufficient to support a clear legal case for the CMA to secure collective redress for Barratt leaseholders under its [...]
Takeover tattle: Vin Murria’s AdvancedAdvT snubs M&C Saatchi’s calls for US regulatory approval August 16, 2022 Vin Murria's AdvancedAdvT pushes back against M&C Saatchi's suggestions to get US regulatory clearance as the hostile takeover talks heat up.
Hospitality firms plead for energy bill support to survive ‘dire’ situation worse than pandemic August 16, 2022 A host of hospitality and small business bodies yesterday warned that many pubs, restaurants and hotels will not survive the “onslaught” of higher energy costs in the coming months. Representative bodies including UK Hospitality warned politicians that unlike domestic customers, rates are not capped for small businesses. Last week analysts at forecaster Cornwall Insight suggested [...]
Reebok and Forever 21 owner Authentic Brands snaps up Ted Baker in £211m deal August 16, 2022 After months of speculation, the Juicy Couture and Forever 21 owner Authentic Brands has said it will buy Ted Baker for an estimated £211m.
UK launches post-Brexit trade scheme for 65 developing countries extending tariff cuts August 16, 2022 The UK has launched its post-Brexit scheme to support trade with developing countries, extending tariff cuts to hundreds of products. The Developing Countries Trading Scheme (DCTS) was announced today by International Trade Secretary Anne-Marie Trevelyan, in a bid to go further than the EU’s Generalised Scheme of Preferences. The initiative covers 65 countries Africa, Asia, [...]
The Sage Group snaps up Seattle software developer Lockstep August 16, 2022 THE SAGE Group, the UK’s largest tech company, has acquired Seattle software developer Lockstep as part of its ongoing efforts to capitalise on the fast-paced growth of cloud computing. The takeover deal will see Sage – a major developer of accounting, HR, and payroll technology – snap up accounting software company Lockstep for an undisclosed sum. [...]
Exclusive: Labour plans to tackle energy crisis lack ‘bold thinking’ argues Utilita boss August 16, 2022 Labour's efforts to tame household energy bills this winter does not provide enough support for vulnerable customers, says Utilita.
City Moves: Who’s switching jobs in the Square Mile? August 16, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. White & Case Global law firm White & Case has bolstered its global mergers and acquisitions (M&A) practice with a fresh partner in London. Di Yu, who joins from Slaughter and May, brings a wealth experience advising [...]