Rogue trader Kweku Adoboli is released early from prison June 24, 2015 A ROGUE trader who lost $2.3bn (£1.4bn) in unauthorised trading at UBS has been released from prison after serving out nearly half of the seven-year sentence he was given. Kweku Adoboli was arrested in 2011 and was found guilty on two counts of fraud in 2012. During his hearing, Southwark Crown Court was told Adoboli [...]
German businessman who sued Ecclestone jumps into F1 bid talks June 24, 2015 ONE OF the leaders of the German sports media firm that brought a $100m (£64m) case against Formula 1 boss Bernie Ecclestone in 2013 has reportedly been brought on board as part of the consortium trying to buy the motor-racing giant. Bidders RSE Ventures and Qatari Sport are looking to buy a controlling 35 per [...]
Superdrug profits get makeover as chain plans further expansion June 24, 2015 HEALTH and beauty retailer Superdrug saw a jump in profit in 2014, the firm said yesterday. The chain, which is a part of the AS Watson Group owned by CK Hutchinson, made an operating profit of £38.2m compared with £25.8m in 2013 and a loss of £6.4m in 2012. Its health range saw sales growth of [...]
Cycle bridge for Canary Wharf June 24, 2015 PLANS for a “Brunel Bridge” to connect Canary Wharf cyclers with central London have come on in leaps and bounds. Cycling charity Sustrans has been awarded £200,000 to look into building a bike bridge from the financial district to Southwark. Transport for London (TfL) has granted £170,000 to the scheme, matched with £30,000 from local [...]
William & son launches flagship store June 24, 2015 BRITISH luxury brand William & Son launched its flagship store in the heart of Mayfair last night, joined by well known figures such as ex-footballer and London mayoral hopeful Sol Campbell (pictured right), designer Nicky Haslam and Lady Victoria Hervey. The four storey store is based at 34-36 Bruton Street ▀ Who says romance is [...]
Olympic medallist Sir Chris Hoy is joining forces with Pure Gym June 24, 2015 OLYMPIC Gold medal winner Sir Chris Hoy has joined forces with Pure Gym after investing an undisclosed sum in the fast-growing budget fitness chain. The cyclist and six-time Gold medal winner, who retired two years ago, has agreed to join the group as an ambassador and special adviser to help improve customer experience, Pure Gym [...]
Energy specialist voted London’s top underwriter in peer ranking June 24, 2015 WATKINS Syndicate’s Dominick Hoare has scooped the title of leading underwriter in the London market, as voted by his peers, in a ranking of almost 900 individual insurance workers by research consultancy Gracechurch. Meanwhile, in a vote by insurance brokers, Mark Pepper from Ascot took the top spot, while Hoare came in second. Hoare, who [...]
Westfield splashes out on luxury quarter June 24, 2015 WESTFIELD said yesterday it plans to spend millions of pounds on the expansion of its luxury shopping quarter at Westfield London. Brands such as Versus Versace, Sandro and Zadig and Voltaire are to join The Village in the coming months.
JPMorgan joins the ranks signing up to military code June 24, 2015 City initiatives to help ex-veterans are growing, Michael Bow finds FINANCIAL firm JP Morgan (JPM) last night became the first US investment bank to add its name to the UK Armed Forces corporate covenant, underscoring a new push by City firms to help ex-military personnel find work at a time of shrinking defence budgets in [...]
US authorities set $2.7bn new record for cartel fines June 24, 2015 AUTHORITIES in the United States are leading the way in cracking down on cartels, according to a new report out this week. The US Department of Justice has already imposed $2.7bn in cartel fines this year, according to research from the legal practice Allen & Overy. US penalties represent 85.6 per cent of the total fines handed down [...]
