Sir Philip Green wins legal battle against US landlords July 7, 2019 Retail tycoon Sir Philip Green has won a legal battle with a group of US landlords after a court dismissed their claim following the collapse into bankruptcy of Topshop USA. Five US landlords including Vornado were attempting to recoup more than £100m, saying that Green’s restructuring of retail empire Arcadia had compromised their rights as [...]
Mr Kipling owner Premier Foods facing shareholder revolt over executive pay July 7, 2019 Mr Kipling owner Premier Foods could face a shareholder revolt at its upcoming meeting over pay handed to its former chief executive. Shareholder advisory firm ISS is urging investors to oppose the company’s remuneration report at its annual general meeting (AGM) next week. Read more: Mr Kipling owner boosted by Ambrosia and Loyd Grossman In [...]
Labour will split up Treasury and move half north, vows John McDonnell July 7, 2019 John McDonnell would break up the Treasury and move a large chunk of it to the north of England if Labour came to power, the shadow chancellor confirmed today. Read more: John McDonnell dismisses claims of civil war at top of Labour He said on the BBC’s Andrew Marr show that locating decision-makers and administrators [...]
Asos prepares job cuts as sales slump July 7, 2019 Around 100 jobs are at risk at Asos’s London headquarters as the online retailer battles with slumping sales. The fast-fashion brand is consulting on a round of redundancies, which will mainly affect the marketing department, the Sunday Times reported. Read more: Eurozone retail sales see suprise fall in May Asos issued a warning in December, [...]
John McDonnell dismisses report of civil war at top of Labour July 7, 2019 Labour’s shadow chancellor John McDonnell has denied a report of a civil war at the top of his party over the power of leader Jeremy Corbyn’s advisers. Read more: Poll: Labour party support hits record low McDonnell and shadow home secretary Diane Abbott confronted Corbyn and demanded he stop listening to his two top aides [...]
UK going through a ‘political nervous breakdown’, says former MI6 chief July 6, 2019 The former head of MI6 has said that the UK is going through a “political nervous breakdown”. Sir John Sawers has taken aim at Tory leadership candidates Boris Johnson and Jeremy Hunt, claiming that Britain could soon have a Prime Minister who does “not have the standing that we have become used to in our [...]
Former Goldman Sachs chief Michael Sherwood to join UK fintech Revolut July 6, 2019 The former boss of Goldman Sachs European operations, Michael Sherwood, is set to join the board of UK fintech company Revolut. Sherwood, who is one of the most prominent bank executives in the City, will be announced in a non-executive directorship next week, according to Sky News. Read more: Revolut tops 100 startups of 2019 [...]
Inheritance tax faces a shake-up with number of proposed changes July 6, 2019 Under proposed changes to the inheritance tax, the current rules on gift-giving could be cut down from seven years to five. A review of the system ordered by chancellor Philip Hammond claimed the period in which executors are required to account for gifts given within seven years of death should be reduced to five. Read [...]
Energy supplier E.On apologises for ‘error’ revealing 498 customers’ email addresses July 6, 2019 Energy firm E.On has apologised after including hundreds of customers’ email addresses in requests for their meter readings. The emails should have been sent to individuals only, but included another 497 recipients due to a “system error” with the automated service, E.On said. Read more: Ranked: The best and worst energy suppliers in the UK [...]
Boris Johnson to crack down on crime and demand immigrants speak English in latest campaign pledges July 6, 2019 Tory leadership candidate Boris Johnson has suggested that he will introduce tougher sentencing for violent or sexual offenders should he become Prime Minister. He also said that immigrants coming to the UK must learn English as he made a series of campaign pledges ahead of a busy Saturday for rival Jeremy Hunt and himself. Read [...]