May suffers fresh Commons blow as MPs grab control of Brexit process March 26, 2019 Theresa May was hit by further ministerial resignations last night after three ministers quit the government in order to back a rebel amendment granting MPs the power to organise key Brexit votes today. Business minister Richard Harrington, health minister Steve Brine and Foreign Office minister Alistair Burt all went against the whip to vote in [...]
City Moves for 26 March – who’s switching jobs at Applause, Amino Technologies and Flexible Office Space? March 26, 2019 Who’s on the move today? Applause Applause, the worldwide leader in digital quality and crowdsourced testing, has announced that Lisa Landa will join the company as chief marketing officer. Her success in building strong brands, generating demand and leading worldwide teams will be instrumental as Applause extends its market leadership across the globe. She comes [...]
John Lewis tumbles down UK top employer rankings March 26, 2019 John Lewis and Partners has lost its crown as Britain’s top employer following a tough 2018 that saw its profits drop by 45 per cent, according to a yearly survey released today. Read more: John Lewis profits plummet 45 per cent in ‘challenging’ market Wren Kitchens now tops the list of UK employers as ranked [...]
MPs call for crackdown on ‘excessive’ bonuses after Persimmon pay row and Royal Mail boss’ ‘golden hello’ March 26, 2019 MPs have called for a crackdown on excessive bonuses in a bid to avoid repeats of “shaming” pay packets, such as the £75m given to former Persimmon boss Jeff Fairburn. The Business, Energy and Industrial Strategy committee called for companies to introduce an “absolute cap” on remuneration to avoid unpredictable long term incentive awards. It [...]
Mortgage finance firm Lendinvest taps three banks for £500m London float March 25, 2019 Online property finance marketplace Lendinvest has chosen three banks to lead its planned £500m float on the London Stock Exchange this year. It is understood Lendinvest, which provides funding for property investors, developers and landlords, has tapped Goldman Sachs and Barclays as joint global coordinators. Read more: Mortgage finance hub Lendinvest targets £500m London listing [...]
Sports Direct mulls cash offer for Debenhams as Ashley looks to seize control March 25, 2019 Sports Direct has said it is considering a bid for Debenhams just hours after owner Mike Ashley branded the troubled department store’s rescue plan “unworkable”. The retail tycoon’s firm said in a statement after close this evening it was weighing up an offer for the firm “alongside other options”. It said the bid would likely [...]
Apple ‘show time’ event: Tim Cook debuts Apple TV streaming service March 25, 2019 Apple has unveiled a new streaming platform to take on Netflix during an eagerly-anticipated launch event in California this evening. Oprah, Steven Spielberg and Jennifer Aniston were among the celebrities who took to the stage during a dramatic presentation to announce a revamp of Apple’s TV service. Read more: Apple reveals UK pricing for its [...]
Government sets aside nearly £5m to help boost business case for Crossrail extension to Kent March 25, 2019 The government has pledged £4.85m to help local firms develop the businesses case for a Crossrail extension to Ebbsfleet in Kent. The delayed £17.6bn Elizabeth Line will stretch from Abbey Wood in the east to Heathrow in the west when it is due to open around 2020. A number of MPs and local businesses, including [...]
Rolls-Royce boss enjoys £1.6m pay increase despite £2.9bn 2018 losses and engine issues March 25, 2019 Rolls-Royce chief executive Warren East saw his pay skyrocket by more than £1.6m last year, despite presiding over a loss-making year and a series of issues with the firm’s engines which grounded a British Airways jet for nearly a year. East did not receive a rise in his base salary, but was the beneficiary of [...]
Autonomy founder Mike Lynch inflated sales before £8.4bn HP deal, court hears March 25, 2019 The biggest civil fraud trial in UK history kicked off on Monday with Hewlett-Packard (HP) accusing entrepreneur Mike Lynch of inflating his software company’s revenues ahead of its £8.4bn sale to the US tech giant in 2011. Lynch “committed a deliberate fraud” to bump up Autonomy’s revenue, the High Court was told. HP is suing [...]