EU to decide on Radisson hotels sale to Jin Jiang in November, European Commission says September 30, 2018 HNA Group will soon find out if its sale of the Radisson hotel chain will be approved after European authorities said they would decide on the case by 6 November. The cash-strapped company, which has offloaded $17bn (£13bn) so far this year to lower debt, agreed to sell its hotel chain to a consortium led [...]
New Pret a Manger owner backs company’s CEO after teenager died from allergic reaction to baguette September 30, 2018 Pret a Manger’s new owner has stood by the food chain’s pressured CEO Clive Schlee after a teenager died from an allergic reaction to one of the company’s baguettes. The coroner investigating the death of Natasha Ednan-Laperouse concluded allergy labelling on Pret’s products was inadequate. JAB, a Luxembourg-based German-owned investor, announced its acquisition of Pret in [...]
AIM high as daily share trading on alternative market hits record highs September 30, 2018 The value of traded shares on alternative exchange AIM more than tripled in two years, a new report has found. Spurred by success stories like ASOS, Boohoo and Fever-Tree, the average value of daily trading per company on the market grew to £328m, up from £109m in 2015/16, accountants UHY Hacker Young said. The growth [...]
Conservative Party conference app flaw exposes phone numbers of MPs September 29, 2018 Boris Johnson and Sajid Javid's mobile phone numbers were among those revealed online yesterday due to major a security flaw in the Conservative party's conference app which allowed people to log into the accounts of MPs and journalists attending the event. Dawn Foster, a journalist, revealed an issue with the app on Twitter which lets attendees easily get into [...]
Ikea accused of ‘vicious’ anti-union campaign, allegedly using intimidation tactics September 27, 2018 Ikea violated workers’ rights to unionise in three countries, a federation of unions has claimed in a complaint filed to the OECD. The UNI Global Union, a collection of 900 unions from 140 countries, accuses Ikea of a “vicious anti-union campaign in the United States, Ireland, and Portugal.” Read more: Samsung Electronics boss indicted for [...]
Trump tax cuts boost US economic growth to its highest level since 2014 September 27, 2018 The US economy grew at its fastest rate for nearly four years in the second quarter of the year, fuelled in part by rising spending, investment and exports. Gross domestic product increased by 4.2 per cent between April and June, the US Commerce Department confirmed today. It left the figures unrevised from an estimate [...]
Online betting firm 888 shares drop after increased regulation hits UK revenue September 27, 2018 Shares in online gambling firm 888 dropped nine per cent today after the company reported a poor opening half to the year in its key UK market. UK revenues decreased 18 per cent to $86.5m (£65.9m) as the company responded to increased regulation and refocused its marketing to the highest return-generating areas. Read more: Shares [...]
Former Daily Mail supremo Paul Dacre steps down from the DMGT board September 26, 2018 Former Daily Mail editor-in-chief Paul Dacre has left the board of the newspaper's parent company, three months after announcing his resignation. Daily Mail and General Trust (DMGT) today said Dacre has stepped down as executive director with immediate effect. In June the company announced he would leave the Daily Mail and be appointed chairman [...]
Asda sparks petrol pump price war as it cuts costs by 2p per litre September 26, 2018 Supermarket chain Asda cut petrol prices by 2p per litre this morning, sparking a supermarket petrol price war as Morrisons and Sainsbury’s followed suit shortly after. Asda, which accounts for about 7.5 per cent of the fuel market, cut the price cap for its pumps to no more than 126.7p per litre for unleaded [...]
‘Fake news’: Deutsche Bank denies merger with UBS and Commerzbank September 26, 2018 Deutsche Bank has dismissed reports that it is considering a merger with UBS or Commerzbank as “fictions of the press”. Discussions about a tie-up with UBS had taken place in a strategy meeting with the supervisory board earlier in September, Handelsblatt, the German business daily, reported, citing unnamed sources. The sources reported that Deutsche Bank [...]
