Premier Inn owner Whitbread warns of stalling profits as it launches share buyback scheme January 17, 2019 Whitbread will kick off the process of giving £500m back to shareholders today after completing the £3.9bn sale of Costa, but warned that uncertainty would stall profits next year. It said Premier Inn has added over 2,000 new rooms since the financial year began in March. The company has grown sales in its accomodation business [...]
Former Nissan chairman Ghosn appeals bail refusal ahead of trial in Tokyo January 17, 2019 Lawyers for former Nissan chairman Carlos Ghosn have appealed a Tokyo court decision to refuse him bail as he remains in prison awaiting trial. The car tycoon has been in custody since his arrest on 19 November on charges of financial misconduct after being accused of underreporting his salary and transferring personal losses to Nissan. [...]
City law firm Fieldfisher acquires Mayfair boutique in bet on London’s hedge fund sector January 17, 2019 City law firm Fieldfisher has acquired a specialist Mayfair boutique in a bet London’s hedge fund sector will thrive post-Brexit. The City firm has acquired West End boutique Cummings Law and hired two senior partners from rival firms to launch Cummings Fisher, which will specialise in funds, derivatives, financial services regulation and fund formation work. [...]
John Menzies’ takeover of Airline Services ready for takeoff after CMA gives green light January 17, 2019 Aviation services firm John Menzies’ shares nudged up in early trading as the group announced it had been given the green light on its takeover of London-based company Airline Services. The Competition and Markets Authority (CMA) approved the buyout this morning, meaning Menzies can go ahead taking control of the firm in a deal originally [...]
Sage shares climb as accounting software firm makes progress on journey into the clouds January 17, 2019 Sage's share price climbed this morning as it released fresh evidence that its transition to the cloud is well underway. The accounting software firm saw group organic revenue grow by 7.6 per cent to £465m for the three months to the end of December, sending shares up 7.4 per cent to 636.8p in early morning trading. [...]
Primark sales sweeten the pill as retailer outperforms Christmas gloom January 17, 2019 Primark today reported a rise in revenues over the festive period as store expansion outweighed a fall in like-for-like sales. The fashion retailer saw UK sales rise one per cent on last year in the 16 weeks to 5 January, defying a downturn in the wider retail market. Read more: Retail sector suffers worst Christmas in [...]
Rahaf Mohammed has lifted the veil on the brutal Saudi regime January 17, 2019 Rahaf Mohammed is at first glance an unlikely harbinger of change in Saudi Arabia. Teenage girls usually know their place in Saudi society: unlike the Victorian child, they are neither to be seen nor heard. But her near-miraculous escape from the clutches of Saudi authorities, which sought to forcibly return her to a family outraged [...]
DEBATE: With Nike coming up with new self-lacing trainers, is this really a good use of tech talent? January 17, 2019 With Nike coming up with new self-lacing trainers, is this really a good use of tech talent? Rowan Kisby, strategy director at digital transformation agency MullenLowe Profero, says YES. This is a much more interesting story than simply the link to those Nike shoes worn in the 1989 Back To The Future sequel. Because this [...]
Forget Brexit – the British economy is running out of money January 17, 2019 The media circus around Brexit is currently the focus of virtually all economic commentary on the UK. This fixation is so all-consuming that we risk missing another real threat to the economy: the dramatic slowdown in the growth rate of broad money This refers to the total amount of money in the economy. There is [...]
Stopping the clock: Can we buy more time to figure out Brexit? January 17, 2019 The UK is running out of time before it leaves the EU. The Prime Minister’s deal now lies in tatters, but what happens next is anyone’s guess. A General Election will take at least a month, and any new government would clearly want to renegotiate the exit deal. Alternatively, a second referendum would take months [...]