Expedia bosses quit after clashes over strategy December 4, 2019 Expedia chief executive Mark Okerstrom and finance boss Alan Pickerill have quit following disagreements with the board over the travel group’s strategy. Chairman Barry Diller said he will oversee the company’s executive leadership team with vice chairman Peter Kern. Chief strategy officer Eric Hart will serve as acting chief finance officer. The pair’s exit, which [...]
Eddie Stobart lines up administrators ahead of vital vote December 4, 2019 Troubled trucking company Eddie Stobart has reportedly lined up Deloitte to act as its administrator ahead of a shareholder meeting that will decide on its future on Friday. Shareholders are set to vote on whether to approve a £55m financing package from former owner Dbay Advisors. The Telegraph reported that if shareholders reject the deal, [...]
Governments commit to tech tax despite Trump threats December 4, 2019 Governments around the world have reiterated their plans to implement a tax on tech giants, despite threats of retaliation by the US. Canada, Austria and Indonesia are among those to join the UK in reaffirming a commitment to a tax on US tech companies such as Amazon, Facebook and Google. Read more: British tech tax [...]
Metro Bank CEO Craig Donaldson to step down December 4, 2019 Metro Bank’s chief executive Craig Donaldson revealed this evening that he will step down at the end of the year, bidding farewell to the troubled lender after a torrid 12 months. After a decade-long stint running the challenger bank, Donaldson has become the latest in a string of senior figures to announce his departure. Donaldson’s [...]
Changing of the guard: Google founders make way as tech giant gears up for new era December 4, 2019 Google’s announcement that co-founders Larry Page and Sergey Brin will step back from their top roles is, in some senses, a groundbreaking moment. Since starting the iconic search engine in a rented California garage in 1998, the pair have grown the firm into one of the world’s most valuable companies, turning themselves into two of [...]
Buzzfeed issued strike-off warning over late company accounts December 4, 2019 Buzzfeed is under fierce pressure from financial authorities for failing to produce its company accounts more than two months after the deadline. Government agency Companies House has lodged a proposal to strike Buzzfeed from the official register as its 2018 accounts, which were due by 30 September this year, have still not been submitted. Read [...]
Clintons secures rescue deal saving 2,500 jobs December 4, 2019 High street card retailer Clintons has secured a pre-pack administration deal to allow it to continue trading through the crucial Christmas trading period. Clintons has been bought out of administration by Esquire retail, a new vehicle that has been established by the Weiss family, which has owned the card retailer since 2012. Read more: Clintons [...]
General Election 2019: Labour’s household finances pledge savaged December 4, 2019 Labour’s pledge to save households more than £6,700 each year has been savaged by commentators and industry experts who question the party’s figures and assumptions about privatisation. John McDonnell told supporters in Birmingham that those warning about the risks of Labour’s plans to nationalise energy, broadband, water and other industries claiming that “the privatisation fat-cats [...]
TfL adds extra peak time services to London Overground December 4, 2019 The London Overground will add early morning capacity on services from Gospel Oak to Barking from next month. The line will benefit from two extra services before 6am to meet “growing customer numbers”. Read more: Crossrail delay until 2021 may cost London £2bn Rory O’Neill, TfL’s general manager for London Overground, said: “These additional early morning [...]
M&G suspends trading in £2.5bn property fund over Brexit fears December 4, 2019 Trading has been suspended in M&G’s £2.5bn property fund after investors rushed to withdraw their money. Asset management giant M&G said the Property Portfolio has seen unusually high outflows, and blames continued Brexit-related political uncertainty for the fund suspension, which had made it difficult to sell commercial property. Read more: UK property investors fear Brexit [...]