Tie Rack in a knot as it starts to sell off bricks and mortar stores November 19, 2013 STRUGGLING retailer Tie Rack is to begin its exit from the high street today, putting 200 jobs at risk. The owners of the chain said yesterday that it will begin closing Tie Rack’s 44 remaining stores, 30 years after it was founded by South African entrepreneur Roy Bishko. The closing-down sale is expected to begin [...]
Shiret taken on by Portuguese bank November 19, 2013 VETERAN analyst Tony Shiret is about to take up a role with Espirito Santo, the major Portuguese bank, after making headlines over his previous job earlier this year. From December, Shiret will be working on retail again, as first reported by Financial News. Shiret won an age discrimination tribunal against his former employers, Credit Suisse, [...]
Richer employees for audio retailer November 19, 2013 RICHER Sounds owner Julian Richer announced yesterday that he will leave his chain of audiovisual stores to his employees when he dies. The entrepreneur told the Financial Times that he did not have a “spoilt child to run the business”. Richer, who is only 54, plans to give each staff member an equal share of [...]
EQT boss Jonsson stands down November 19, 2013 THE LONG-STANDING boss of EQT, the private equity company that owns Select Service Partner, is standing down after 20 years at the helm, the firm said yesterday. Conni Jonsson, who established the firm in Sweden, will become chairman of the group.
Npower tops list of energy firm complaints November 19, 2013 BIG SIX energy firm Npower received the highest number of customer complaints from April to June this year, with 202.5 from every 100,000 customers – around five times more than the best performing firm. SSE fared best in the latest analysis of energy complaints data compiled by Consumer Futures, with just 38.3 complaints per 100,000 customers. [...]
London leads rise in credit card fraud as banks turn taps back on November 19, 2013 LONDON and the commuter belt have led a sharp rise in fraudulent credit card applications as banks make the plastic more freely available, data firm Experian reported today. False applications dropped in the credit crunch as lenders became reluctant to issue new cards and cut credit limits. But now the credit taps are back on, [...]
IHG to recruit 110,000 new staff in China November 19, 2013 INTERCONTINENTAL Hotels Group is to step up its presence in China by recruiting over 110,000 employees in the country over the next two years and doubling the number of hotels. Speaking ahead of an investor meeting yesterday chief executive Richard Solomons said the group was focusing its efforts on 10 key markets led by China [...]
Shoppers flock to the Guildhall November 19, 2013 KEEN Christmas shoppers filled the Guildhall yesterday to get their gift-buying in early at the British Red Cross Christmas Market. After Her Royal Highness Princess Alexandra got a preview of the market at an exclusive champagne reception on Monday night, doors opened to the general public yesterday, with City folk flocking through the doors on [...]
Woodford pair to follow him out of Invesco November 19, 2013 TWO MEMBERS of Neil Woodford’s investment management team have decided to follow the star fund manager out of the door at Invesco Perpetual, increasing concerns the firm will lose key clients, funds and personnel. Invesco Perpetual issued a short statement saying that William Deer and Mitchell Fraser-Jones, UK equities product directors, had both decided to [...]
IG Group says revenues slightly ahead so far in second quarter November 19, 2013 FINANCIAL spread betting firm IG Group said yesterday its revenue was slightly ahead of a year ago so far in the second quarter. The company, which allows investors to speculate on the future price of securities or baskets of securities, said in a trading update that the business had traded satisfactorily through the period, but [...]
