Saga shares plunge 36 per cent after it announces £310m writedown and slashes dividend April 4, 2019 Over-50s travel and insurance company Saga lost a third of its value this morning after it said it was more than halving its dividend as it crashed to a £134.6m loss. Its share price plunged 35 per cent to 68p after its shock announcement. Read more: Saga set to hit profit guidance after sales cruise [...]
AO World spends £15m on Brexit stockpiling as founder returns as CEO April 4, 2019 Electrical retailer AO World today warned investors it expects to take a £2.5m hit this year as it shakes up its management team in the wake of John Roberts’ return as chief executive. Read more: AO World’s chief executive departs with founder returning to the role The exceptional costs for the 12 months to the [...]
Tube delays: Commuters face disruption on key London Underground lines April 4, 2019 Commuters were facing havoc on London’s Tube this morning with three lines hit by delays and track suspensions. Read more: This London Tube map shows the busiest times at stations in the morning No trains were running between Aldgate and Edgware Road via Embankment on the clockwise Circle Line route due to a signal failure [...]
Former Nissan boss Carlos Ghosn re-arrested in Japan April 4, 2019 Former Nissan boss Carlos Ghosn was arrested again today by Japanese prosecutors who accused him of trying to enrich himself at the carmaker’s expense. The arrest, described by legal experts as highly unusual in Japan for someone who has been released on bail, is reportedly linked to payments made to an Omani dealer. Prosecutors said [...]
The AA’s opting for the long road to stability April 4, 2019 Shares in the AA have been swerving all over the place since it returned to the stock market in 2014. After jumping from a float price of 250p to 430p the following year, the ambitions of the team that steered the roadside rescue outfit through an unusual management-buyout-cum-IPO began to stutter. The stock slid and [...]
Advertising watchdog used ‘child avatars’ to catch irresponsible gambling ads April 4, 2019 The advertising watchdog has revealed it used so-called child avatars to catch gambling firms targeting children with their adverts. The Advertising Standards Authority (ASA) said it rolled out the technology, which creates profiles that simulate children’s browsing activity, over a two-week period last year. Read more: New standards rolled out to protect children from gambling [...]
City Moves for 4 April 2019 – Who’s switching jobs at McLarens, Shearman & Sterling and Astarte Capital Partners? April 4, 2019 Today's City Moves includes McLarens, Shearman & Sterling and Astarte Capital Partners. McLarens Global independent insurance services provider McLarens announced the appointment of Graham Smart to the newly created global role of chief commercial officer. In this new position, Graham will work closely with McLarens chief executive officer Gary Brown and the firm’s global management [...]
Fraud squad boss will favour firms who keep hold of incriminating evidence April 3, 2019 Companies should be prepared to keep hold of evidence of fraud and corruption in their ranks if they want to co-operate with the authorities, the boss of the UK fraud office has said. Lisa Osofsky, the recently appointed director of the Serious Fraud Office (SFO), said companies not only needed to be "brave enough" to [...]
Facebook hit by major data breach that left millions of user records on Amazon public software April 3, 2019 Millions of Facebook users have been affected in a major data oversight that left a trove of records publicly available on Amazon cloud-computing servers. Researchers at cybersecurity firm Upguard found that in one example, media firm Cultura Colectiva had posted 540m user records in a public database that included information such as account names, Facebook [...]
Intu Properties to appoint finance chief Matthew Roberts as new boss April 3, 2019 Shopping centre owner Intu Properties plans to appoint its finance boss as its new chief executive during a challenging time for the retail sector. Intu, which owns the Trafford Centre in Manchester, is expected to announce that current chief financial officer Matthew Roberts is its new chief executive as early as tomorrow, Sky News reported. [...]