‘Unforgivable’: Property tycoon Robert Tchenguiz blasts First Group management amid calls for sale of US assets November 18, 2019 Directors at First Group have been branded “immature” by major investor and property tycoon Robert Tchenguiz, as shareholders demanded the struggling transport giant launch a full strategic review and sell off its US businesses. The bus and rail operator is in the process of selling its US coach service Greyhound, but said earlier this year [...]
Liberal Democrat Sam Gyimah reported to police over comments about Grenfell November 18, 2019 A Labour election candidate has reported Tory-turned-Liberal Democrat Sam Gyimah to the police over “inaccurate and dangerous” allegations about her role in the Grenfell. Emma Dent Coad – a Jeremy Corbyn ally who won Kensington and Chelsea in 2017 – has made the complaint after Gyimah told City A.M. that she and other Kensington Council [...]
Trump administration grants Huawei another 90-day reprieve on trade ban November 18, 2019 US President Donald Trump’s administration has issued a fresh 90-day extension allowing American companies to continue doing business with controversial Chinese tech firm Huawei. In May the US added Huawei to a trade blacklist, citing concerns its technology could be used for spying by authorities in Beijing. Read more: Huawei rewards staff with $286m in [...]
Cosmetics giant Coty takes $600m stake in Kylie Jenner’s beauty business November 18, 2019 Cosmetics giant Coty, which owns Rimmel London and Bourjois, has taken a $600m (£462.7m) majority stake in reality TV star Kylie Jenner’s beauty brand. Coty will take responsibility for the development of new Kylie Cosmetics and Kylie Skin products, and act as a licensee for skincare, fragrances and nail products. Read more: Debate: Is Kylie [...]
Telecoms firm’s credit ratings ‘at risk’ from Labour’s broadband plan November 18, 2019 Telecoms companies may take a hit to their credit profiles if Labour’s plans to nationalise parts of BT go ahead, a top rating agency has warned. Shadow chancellor John McDonnell last week unveiled plans to bring Openreach into public ownership and offer free full-fibre broadband to all UK households by 2030. Read more: Labour’s BT [...]
T-Mobile USA boss John Legere to step down as he denies Wework rumours November 18, 2019 John Legere will step down from his role as chief executive of T-Mobile in the US next year, and will be replaced by current chief operating officer Mike Sievert. The departure of the outspoken telecoms boss comes amid frantic speculation that he could be linked with the top job at Wework. However, Legere has since [...]
Luxury jewellers Boodles reports profits ‘back on track’ November 18, 2019 Luxury jewellery retailer Boodles reported sales growth following a strong Christmas trading period last year and a 220th anniversary collaboration with Swiss watchmaker Patek Philippe. The family-owned jewellers reported turnover of £77.1m for the year ended 28 February, up 8.9 per cent from £70.8m in 2018. Read more: Diamond in a rough year: Petra sell [...]
TSB IT meltdown blamed on data centre test failure November 18, 2019 The IT meltdown that left nearly 2m TSB customers without access to online banking is set to be partly blamed on the company’s failure to test one of its new data centres. A long-awaited inquiry by City law firm Slaughter and May has concluded that the decision to test only one of the new data [...]
Jo Swinson says Lib Dems are new ‘party of business’ November 18, 2019 Jo Swinson has said the Liberal Democrats are now the “natural party of business” as she lambasted the economic policies and Brexit stances of the Conservatives and Labour. The third party leader to address the CBI conference in London today, Swinson said her controversial policy to revoke Brexit would allow a Lib Dem government to [...]
Happiness should play role in measuring growth, says CBI chief economist November 18, 2019 Britain’s financial system has long been viewed through the lens of output and productivity, but now the Confederation of British Industry is calling for a more unconventional way of measuring growth: happiness. The CBI’s chief economist said today that the government and businesses should take into account “much more holistic measures” than productivity levels when [...]