Chapel Down: Winemaker toasts new CEO as finance chief resigns December 13, 2024 Chapel Down has named James Pennefather as its new chief executive while its finance head has resigned after a challenging year for England’s biggest winemaker. The London-listed firm said on Friday that Pennefather will take up the CEO post on 1 February, replacing Andrew Carter – who resigned in September as the firm reported a [...]
Boohoo floats board seat to Frasers – as long as it’s not for Ashley or Lennon December 13, 2024 Boohoo's board has floated an olive branch to Frasers today with the offer of a board seat, but only if Mike Ashley or Mike Lennon are not the candidates put forward.
Royal Mail hit with £10.5m fine over late deliveries December 13, 2024 Ofcom has hit Royal Mail with a £10.5m fine today for failing to meet its delivery targets over the past year. In a statement this morning, the media watchdog said it would fine the postal company for the second time in just over a year for falling “well short” of its first and second class [...]
UK economy on ‘recession watch’ after unexpected contraction December 13, 2024 The UK economy shrank unexpectedly in October after a fall in production output and stagnation in the services sector ahead of the Budget. GDP fell 0.1 per cent during the month, data from the Office for National Statistics (ONS) showed. Economists had expected a return to modest growth of 0.1 per cent. It marks two [...]
What start-ups taught me about ambition this year December 12, 2024 Ambition AM Editor Jennifer Sieg takes a look at what she’s learned from covering the world of entrepreneurship this year I am often asked what I look for when it comes to writing about a start-up or interviewing an entrepreneur, and for quite some time I considered it to be the million dollar question. Fortunately, [...]
Strathberry: Profit doubles at luxury handbag maker loved by Princess of Wales and Meghan Markle December 12, 2024 Profit more than doubled at luxury handbag maker Strathberry, which counts the Princess of Wales, Jennifer Lopez and Meghan Markle among its fans The Edinburgh-based business has reported a pre-tax profit of £3m for the 12 months to 30 April, 2024, up from the £1.3m it posted in the prior year. Newly-filed accounts with Companies [...]
Lloyd’s of London insurer Canopius favours IPO in private equity exit December 12, 2024 The private equity owners of Canopius plan to list the Lloyd’s of London insurer on the UK stock market next year, City AM has learned. A consortium led by US investor Centerbridge Partners is leaning towards an IPO rather than sale as part of its review into exit options for Canopius, according to a person [...]
Cabinet Office to make hundreds of Civil Service redundancies December 12, 2024 Hundreds of jobs are set to be cut by the Cabinet Office, it has been confirmed, in a move which the government department said will create a “smaller, clearer structure”. A total of 400 jobs have been placed at risk at the department which is responsible for a range of functions across government. The Cabinet [...]
Sir Brian Leveson leading ‘once-in-a-generation’ review into criminal courts December 12, 2024 The man who led the News of the World inquiry has been chosen to review the criminal courts, at a time when data revealed backlogs has reached a record high
In The Style cuts job as sales continue to fall ahead of stock exchange return December 12, 2024 In The Style slashed jobs in a bid to stem its losses amid continuing falling sales as its return to the London Stock Exchange edges nearer. The Manchester-headquartered fast-fashion retailer has posted a pre-tax loss of £2.6m for the year to 31 March, 2024, down from the £7.7m loss it reported in the prior 12 [...]