Costa Coffee and Premier Inn parent Whitbread plans to raise prices to mitigate “substantial” National Living Wage costs September 8, 2015 Picked up a coffee on your way into work this morning? You might find it starts costing a little bit more in future. Costa Coffee and Premier Inn parent group Whitbread has warned that it will be forced to introduce "some selective price increases" across the business as part of measures to tackle rising [...]
Sports Direct shareholder Royal London Asset Management to vote against Mike Ashley at AGM September 7, 2015 Mike Ashley is no stranger to investor unease, but he could be heading towards a bigger upset at this week's AGM. Following guidance issued by shareholder group Pirc, now Sports Direct shareholder Royal London Asset Management (RLAM) has said it will vote against Ashley's reinstatement on the board this year. Ashley Hamilton Claxton, [...]
Tesco’s share price rises as it agrees to sell Korean arm Homeplus to consortium of investors led by MBK for £4.2bn September 7, 2015 Tesco's share price opened up this morning after revealing it has agreed to sell its South Korean arm Homeplus for £4.2bn to a consortium of investors, led by MBK Partners, the beleaugered supermarket has confirmed. The consortium also includes the Canada Pension Plan Investment Board, the Public Sector Pension Investment Board and Temasek. [...]
Scottish referendum revisited: Is an independent Scotland becoming inevitable? September 7, 2015 A fortnight today (18 September) will mark the first anniversary of the Scottish independence referendum – arguably the most important political event any of us in Scotland have experienced – giving pause for reflection on a year that has seen the referendum losers seem like winners, and vice versa. Despite the relatively decisive [...]
Glencore’s share price soars 10.2 per cent as it reveals billion-dollar debt reduction plan and rights issue September 7, 2015 Fresh from taking a battering as a result of China, which has resulted in S&P downgrading its credit rating, commodities trader Glencore is tapping shareholders for a further $2.5bn (£1.64bn) rights issue. The business, which floated in May 2011, said it was seeking the money as part of a plan to reduce net debt [...]
Even Primark can’t save Associated British Foods from a drop in profits this year, as sugar and currency woes hit the business hard September 7, 2015 Associated British Foods (ABF) has confirmed its adjusted operating profit will decline for the full year as its has failed to offset challenges in its sugar division and currency headwinds. Operating profit at constant currency will be ahead of last year for grocery, agriculture, ingredients and retail, ABF said this morning. The firm's share [...]
EU migrant crisis: Egyptian billionaire Naguib Sawiris wants to buy an island to house Syrian refugees September 5, 2015 David Cameron may be struggling to come up with a solution to the escalating refugee crisis, but one billionaire has an idea that he thinks might just work. Egyptian telecoms tycoon Naguib Sawiris has offered to buy an island – from “Greece or Italy”, make it independent and let Syrian refugees make it their [...]
The refugee crisis, the EU referendum and London’s skyline: Here’s what got us talking this week September 4, 2015 There was a fine wine scam. There was a Circle Line travelator (in the making). And somewhere in Japan, people started seeing the world from a cat's perspective. Here's what got us talking this week 1) The refugee crisis Disturbing images of dead toddler Aylan Kurdi galvanised the world into action over the Syrian refugee [...]
Karen Millen boss Mike Shearwood “saddened” as he leaves retailer after scrapped MBO September 4, 2015 Karen Millen boss Mike Shearwood has left the business following a scrapped management buy-out. Shearwood, who has been at the business since 2007, is stepping down with immediate effect. Karen Millen confirmed it is not for sale “at this time”. According to industry bible Drapers, it was a mutual agreement between Shearwood and [...]
EU migrant crisis: Prime Minister David Cameron announces Britain will accept “thousands” more refugees in Syria U-turn September 4, 2015 David Cameron has announced that Britain will accept "thousands" more refugees, having bowed to pressure over the humanitarian crisis in the last few days. The Prime Minister, who has been criticised on all sides for failing to act, today committed to provide resettlement for "thousands more Syrian refugees". He said Britain would act "with our [...]
