Landlord row forces House of Fraser to close another store February 6, 2020 Sports Direct boss Mike Ashley has been forced to close another House of Fraser store after being served notice by the landlord. The branch in Dundrum, near Dublin, will close within the next three months after the property’s landlord agreed a deal with Brown Thomas and Primark. Ashley warned in December that it was likely [...]
Airbnb bans under-25s from booking ‘party houses’ after violence February 6, 2020 Airbnb has launched a crackdown on young people booking entire properties in a bid to prevent house parties from descending into violence. The new rules have been rolled out in Canada as part of a trial programme, though the company did not say whether it will be extended to other countries. It comes after a [...]
Deutsche Bank adds investment giant Capital Group as major shareholder February 6, 2020 Deutsche Bank has welcomed Capital Group as a major shareholder after the Los Angeles-based investment giant has bought a 3.1 per cent stake in the German bank. The investment, disclosed in a regulatory filing, makes Capital — which managed $1.8 trillion— one of Deutsche’s largest shareholders. It also marks the first major new shareholder in [...]
Government launches consultation on post-Brexit tariff regime February 6, 2020 The government has called on businesses to consult on the shape of the UK’s new independent global tariff policy, as the country gears up to strike out on its own next year. The Department for International Trade has launched a month-long consultation over its new most favoured nation tariff schedule, which it says will mark [...]
HSBC will not appoint new boss until after strategy shake-up February 6, 2020 HSBC will not name a permanent chief executive when it unveils a major strategic overhaul later this month, despite investor expectations that a new boss would be in place before the plan is announced. Noel Quinn, who was appointed interim chief executive of the bank six months ago, is preparing to announce the strategic shake-up [...]
Nokia investors must wait longer for dividend despite profit rise February 6, 2020 Nokia posted a surprise profit rise for the end of 2019 today, as cost-cutting helped it navigate a “challenging” year in which it slashed its outlook and cancelled its dividend. The figures Net sales were flat at €6.9bn in the three months to the end of December. But Nokia managed to eke out a rise [...]
Royal Mail shares tumble as strikes threaten turnaround plan February 6, 2020 Royal Mail shares have tumbled more than eight per cent after it warned that the outlook for the next financial year “is challenging”, adding that threats of industrial action will hurt its turnaround plan. Revenue at the 500-year-old company grew 3.7 per cent in the nine months to the end of the year, however, as [...]
ING profit tumbles as bad loans and regulatory costs weigh February 6, 2020 ING has reported a significant decline in net profit following a “challenging” end to the year for the Netherlands’ largest bank. The lender reported a 29 per cent drop in year-on-year net profit, which fell to €1.2bn (£1bn) amid a sharp increase in bad loans during the fourth quarter, due in part to a fraud [...]
Derek Mackay: Scots finance secretary resigns amid teen messages claims February 6, 2020 Scotland’s finance secretary Derek Mackay has resigned just hours before he was due to give the budget amid claims he sent hundreds of messages to a 16-year-old boy. The 42-year-old Cabinet secretary for finance, economy and fair work contacted the boy on Facebook and Instagram. Reports suggest the pair exchanged 270 messages for around six [...]
Prime Minister gives Hammond and Clarke the nod for Lords February 6, 2020 Boris Johnson has nominated two of his most vocal critics – who he punished by removing the whip last year – for peerages. Former chancellors Ken Clarke and Philip Hammond were both sacked by the Prime Minister for blocking his plan to press on with a no deal Brexit in October. Although some of the [...]