Debenhams could close dozens of stores as it looks to cut costs October 21, 2018 Debenhams is expected to announce further store closures on top of the 10 it already has planned, as it presents its full-year results on Thursday. The beleaguered retail giant, which has issued three profit warnings and has lost two-thirds of its share price since the start of 2018, is looking to save £30m by axing [...]
Hundreds of jobs on the line as Babcock set to decide on Appledore shipyard’s future October 21, 2018 Babcock is set to make a decision on the fate of its Appledore shipyard next month, with 200 workers facing an uncertain future. Work has dried up at the north Devon site, with only one order for the Irish coast guard remaining, the Sunday Times reported. Read more: Babcock on track to engineer revenue growth [...]
Take me back says Superdry founder as he slams clothing company’s ‘disastrous eight months’ October 21, 2018 Superdry's co-founder has said the business is being led in the wrong direction after a poor start to the year which has seen shares plunge. Julian Dunkerton, who left the clothes store’s board in March, said he wants to return to help the struggling businesses fortunes after a “disastrous eight months.” Read more: Superdry shares [...]
Photo of Ryanair crew sleeping on airport floor was staged, airline says October 18, 2018 A photograph of Ryanair crew sleeping on an airport floor was staged, footage from the airline showed today. Staff at the low-cost carrier had released a photograph showing them lying on the floor of an airport staff lounge. La imagen del aeropuerto de Málaga ha sido una escenificación y protesta del trato que Ryanair da [...]
UK not heading for derivatives cliff edge after Brexit, say EU officials October 18, 2018 European officials have said there will be no cliff-edge drop for derivatives markets if Britain leaves the EU without a deal. Olivier Guersent, an aide to the bloc’s head of financial services, told a Politico event: “There is no cliff edge." He made the remarks after his boss, Valdis Dombrovskis, had said that derivatives clearing [...]
Fizz rises to the top: Shake up at Coke as key executives replaced October 18, 2018 Coca-Cola yesterday announced major management changes a year after Brit James Quincey stepped up as chief executive. Brian Smith will become president and chief operating officer, filling the vacancy left when Quincey was promoted. Read more: Whitbread shareholders vote Coca-Cola's Costa merger through Smith is a 21-year veteran of the company and currently serves as [...]
Saudi-backed fund plans investment in British digital bank Oaknorth October 18, 2018 The world’s largest technology fund could pump hundreds of millions of dollars into British unicorn Oaknorth. The deal would make Saudi Arabia’s sovereign investment fund an indirect shareholder in the digital bank. Read more: Acorn OakNorth rises to $2.3bn valuation as it closes fresh $100m fundraise Softbank’s Vision Fund, in which the Saudis are the [...]
Information watchdog will investigate outgoing Grant Thornton CEO’s leaked performance review October 18, 2018 The Information Commissioner has said it will look into a leaked performance review of Grant Thornton’s outgoing chief executive. The review of Sacha Romanovitch, the first female leader of a big City accountancy firm, was sent to newspapers by a group claiming to represent several Grant Thornton partners. Read more: Grant Thornton chief executive set [...]
Russia to deploy hypersonic missiles which can evade defence systems ‘within months’ October 18, 2018 Vladimir Putin has said Russia will deploy new state-of-the-art missiles “within months”, putting the country ahead of its rivals in the West. The new hypersonic missiles could evade western defence systems. Read more: Kremlin says Dutch expulsion of Russian agents was a "misunderstanding" “We have overcome all our partners and competitors, so to speak, in [...]
Home Office threatens to name and shame 17,000 companies not complying with modern slavery laws October 18, 2018 The Home Office has today promised to name and shame businesses which do not live up to its rules to combat modern slavery. Civil servants will be writing to 17,000 chief executives, calling on them to publish annual transparency statements on their supply chains. Under current regulations, businesses turning over more than £36m have to [...]
