Next: Working from home means staff miss out on the camaraderie September 17, 2020 Staff working from home miss out on spontaneous conversations and the camaraderie of the office, retailer Next has said. The retailer said the pandemic had been “expensive and miserable” for everyone. But it conceded that there had been some good to come from it, particularly in communications, efficiency and employee job satisfaction. Like other non-essential [...]
Flutter hires former Labour deputy leader Tom Watson as an adviser September 17, 2020 Paddy Power owner Flutter Entertainment has hired former Labour deputy leader Tom Watson as an adviser, as it looks to tackle problem gambling. The former MP is a vocal anti-gambling campaigner who will advise Flutter on best practice in its shops, marketing, customer service and anti-money laundering procedures. Flutter told the Financial Times that the [...]
Deloitte hit with record £15m fine over Autonomy audit September 17, 2020 The FRC has announced sanctions against Deloitte and two audit partners following an investigation into its audit of software firm Autonomy. The Big Four accounting firm, and two of its now former partners, Richard Knights and Nigel Mercer, were investigated in relation to their audit of Autonomy’s financial statements for 2009 and 2010. Autonomy was [...]
Gresham House continues momentum as income and AUM rise September 17, 2020 Gresham House reported its tenth consecutive half-year increase in AUM despite a challenging backdrop as it looked to sustainable investment. The figures Assets under management (AUM) grew 16.7 per cent to £3.3bn in the first half of the year. Core income increased 33 per cent while adjusted operating profit grew 15.5 per cent to £5.2m. [...]
Next raises profit outlook as sales rise September 17, 2020 Retailer Next has raised its profit forecast for the second time in two months as it reported a strong recovery in online sales. The figures Total sales in the first half of the year dropped 34 per cent on last year to £1.4bn, while brand full price sales dropped 33 per cent. Online sales suffered [...]
Interim FCA chief to move on months after announcement of new boss September 16, 2020 The interim boss of the City regulator will step down from the board in October, just months after the announcement of its new permanent chief executive. The FCA said Christopher Woolard, who has been interim chief executive since Andrew Bailey left to become governor of the Bank of England in March, will step down on [...]
LGIM set to reopen property fund in October September 16, 2020 LGIM will reopen its property fund in October, seven months after the coronavirus crisis forced it to suspend dealing. In an update today, LGIM said its authorised fund manager, L&G Unit Trust Managers, intends to reopen the property fund and its feeder fund on 13 October. The board is now “confident” in lifting the suspension [...]
Travelex creditors take £368m hit after pre-pack administration September 16, 2020 Unsecured creditors in troubled foreign exchange provider Travelex are set to suffer heavy losses after suffering a shortfall of more than £368m. The majority of the shortfall, around £319m, is owed to bondholders who took control of Travelex but whose identities are unknown, according to the Times. Last month PwC said a pre-pack administration sale [...]
Women less likely to be hired than men during UK lockdown September 16, 2020 The impact of the pandemic on women’s professional lives is becoming increasingly clear, as it is revealed they were less likely to be hired at the peak of the coronavirus lockdown. Linkedin data shows that female hiring in the UK followed a U-shaped trajectory in 2020. It reached its lowest point in April, a month [...]
Yoshihide Suga confirmed as Japan’s new prime minister September 16, 2020 Japan’s parliament has elected Yoshihide Suga as their new prime minister after Shinzo Abe’s surprise resignation. Suga won the ruling Liberal Democratic Party’s leadership contest by a landslide on Monday with Wednesday’s vote confirming his new role. Shinzo Abe, who was Japan’s longest serving premier, stepped down after eight years citing ill health. Earlier on [...]
