Derek Llambias, Sandy Easdale and Barry Leach suspended from Rangers as new board launches investigation March 10, 2015 Rangers Football Club has suspended former executives Derek Llambias, Sandy Easdale and Barry Leach pending an investigation. The trio – who were respectively chief executive, chairman and finance director until they were ousted by 85 per cent of shareholders on Friday – have been told to stay away from the club. Dave King [...]
Work on Crossrail for Bikes gets underway – and London mayor Boris Johnson lends a hand March 10, 2015 Work on Boris Johnson's flagship “Crossrail for Bikes” scheme began this morning, with the mayor donning a hard hat and clambering into a digger to help break the ground. The first leg will be the route that runs north to south from Kings Cross to Elephant and Castle – notoriously the most dangerous junction for [...]
Grocery price war continues: Tesco’s rebound hurts Asda as Aldi reaches record market share March 10, 2015 Tesco's return to growth is stealing market share from Asda, according to the latest figures from Kantar Worldpanel. The sector as a whole is still hugely competitive: the grocery price war has driven supermarket deflation to a record level of 1.6 per cent for the 12 weeks to March 1. Kantar estimated that this had [...]
Rangers seeks second tranche of Sports Direct loan – but warns it might not be approved March 4, 2015 Rangers is applying to draw down the second tranche of the Sports Direct loan to keep its head above water – but has warned that it might not receive the cash. The struggling football club was lent £10m by Sports Direct owner Mike Ashley at the start of the year for its urgent capital needs. [...]
Marks & Spencer’s chairman Robert Swannell joins remuneration committee as SABMiller chairman Jan du Plessis steps down March 4, 2015 Marks & Spencer chairman Robert Swannell is joining the high street giant's remuneration committee after a shake up of the non-executive board. The move has been prompted by the departure of SABMiller chairman Jan du Plessis, who is stepping down from the Marks & Spencer board today (March 4). Du Plessis, who has [...]
Tesco hires BP vice president Byron Grote March 4, 2015 BP director and vice president Byron Grote is joining Tesco's board as the troubled supermarket looks to bolster its financial experience. Grote, who has been at BP since it acquired Standard Oil of Ohio in 1987, joins the Tesco board on May 1 as a non-executive director. The grocer said he brought “extensive executive [...]
Standard Chartered share price rises as boss Peter Sands gives up bonus March 4, 2015 Shares in troubled bank Standard Chartered were up six per cent this morning, despite reporting a sharp drop in pre-tax profits. Investor optimism was clearly high, as outgoing boss Peter Sands, who, it was revealed last week, will be replaced by Bill Winters, announced he and the rest of the board will forego their bonuses. [...]
Mike Ashley sidesteps MP grilling over USC redundancies March 4, 2015 Mike Ashley is sidestepping a meeting with Scottish MPs who want to grill him over the handling of USC's administration and his retail empire's use of zero-hour contracts. The Scottish Affairs Committee has called Ashley and other executives to appear before them as part of an investigation into how the high street chain collapsed, and [...]
Eat like an Oscars star: Now Aldi is selling Wagyu beef burgers March 3, 2015 We've had luxury wine, scallops and lobsters. Now Aldi is offering British customers Wagyu burgers – one of the most expensive types of beef – at knock down prices. For a limited time only the discount grocer will sell the premium products, made from New Zealand grass-fed cattle – for £2.99 for two. In [...]
Ryanair charm offensive continues with launch of eight-point “customer charter” March 3, 2015 Ryanair – the airline that once considered charging extra for people to use the toilet – has issued an eight-point “customer charter”. Among the points are the promise of “the lowest fares”, to make sure travelling is “an enjoyable experience”, to be “Europe's most reliable airline” and alarmingly for an airline “to make your travel [...]
