Zalando forced to axe jobs as retailer admits it expanded ‘too much’ February 21, 2023 The German-based group, which sells a range of brands such as adidas and Nike, said it had expanded some parts of its company “too much”.
Migration Museum gets new home in Square Mile as refugee developer stumps up 60-years rent-free space February 21, 2023 A multi-million pound development in the Square Mile will give a new home to the Migration Museum and provide hundreds of affordable apartments. 65 Crutched Friars near Tower Hill will be transformed into a 21-storey state-of-the-art site and has been granted 60-years rent-free space by the developer. Dubbed “Britain’s gateway to the world for thousands [...]
Shareholder spat at The Restaurant Group hots up as investors demand improvement February 21, 2023 The Restaurant Group (TRG) came under increasing pressure today after its second largest shareholder, Oasis, doubled down on its demands to immediately improve the firm’s struggling share price. Oasis, which has a 6.5 per cent stake in TRG, has argued that the chain needed an “immediate” change of governance because it had “one of the [...]
Analysis: Has HSBC’s Noel Quinn done enough to ward off Ping An’s split campaign? February 21, 2023 HSBC’s CEO Noel Quinn said today that “international connectivity remains our greatest strength.” It was clear he was attempting to ward off shareholder Ping An’s ongoing campaign to spin out HSBC’s Asian business, which makes the majority of the bank’s profit. Quinn was speaking after the lender announced its results for the final quarter of [...]
Credit Suisse shares plunge to fresh lows as chair faces investigation February 21, 2023 Shares in beleaguered lender Credit Suisse plunged to fresh lows today after it was revealed that chair Axel Lehmann is under investigation from Swiss regulators over potentially misleading claims made to the media last year.
EU carbon hits €100 taking cost of polluting to record high February 21, 2023 The price of permits on the EU's carbon market hit €100 per tonne (£88.01) for the first time on Tuesday, exposing costs of polluting.
Labour ‘very supportive’ of post-Brexit overhaul of EU Solvency II rules February 21, 2023 Labour is “very supportive” of the government’s plans to overhaul EU rules that govern Britain’s insurance sector, shadow chancellor Rachel Reeves said. The government is eager to overhaul the EU-era Solvency II rules, which govern the sums of money insurers must hold on their balance sheets to protect themselves against bankruptcy, in a bid to [...]
Jeremy Hunt faces calls for March budget giveaways after UK borrows £30bn less than forecast February 21, 2023 The UK government spent less than it reaped in from taxpayers last month helping to push yearly borrowing £30bn lower than projected by forecasters, officials figures out today reveal. The difference between what the government generated in revenue and spent hit a positive £5.4bn, meaning the UK’s public finances were in surplus last month, according [...]
FTSE 100 close: London index dips below 8,000 point mark on interest rate hike fears February 21, 2023 London’s FTSE 100 closed below the 8,000 point today driven lower by a broad sell off fuelled by investors sweating over more interest rate rises from central banks. The capital’s premier index slipped 0.46 per cent to 7,977.74 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]
SNP race: Humza Yousaf ‘clear favourite’ to replace Nicola Sturgeon after Kate Forbes equal marriage controversy February 21, 2023 Health minister Humza Yousaf has gained an advantage in the race to replace Nicola Sturgeon after Kate Forbes was forced to apologise for her comments on equal marriage. Yousaf, who has emerged as the continuity candidate after Sturgeon’s sudden resignation announcement last week, has vowed he will “always fight for the equal rights of others”. [...]
