Poundland eyes extension over 99p Stores deal probe April 14, 2015 Poundland is expected to ask for an extension tomorrow over its decision on whether to walk away from its £55m tie-up with 99p Stores or proceed with a full-scale probe by the competition watchdog. The Competition and Markets Authority (CMA) said last week that it had concerns over 92 areas where it believes there could [...]
Michael Page on track for good year as profits in Europe rise April 14, 2015 RECRUITMENT firm Michael Page said it was on track to meet its full year targets after recording an 11 per cent increase in gross profit during the first quarter. The British firm saw gross profits rise across all regions with European markets, accounting for 40 per cent of group profits, up 12 per cent in [...]
Toyota says hola with $1bn Mexican car plant April 14, 2015 LEADING car manufacturer Toyota is set to announce its intention to invest $1bn (£676m) in a new factory in Mexico’s Guanajuato state today. The investment by the Japanese firm will create 2,400 jobs at the factory which will make 200,000 cars a year. Toyota is the world’s largest car manufacturer, having sold over 10m cars [...]
Borgen muse Margrethe Vestager tipped to finally shake up Google in anti-trust probe April 14, 2015 She is said to be the inspiration behind Birgitte Nyborg, the cool-headed Danish prime minister in the hit TV show Borgen. Today, European competition commissioner Margrethe Vestager is expected to live up to the go-getting reputation of her fictional counterpart by setting out a list of charges, known as a statement of objections (SO), against [...]
Clydesdale hit by £20m fine for PPI faking April 14, 2015 CLYDESDALE Bank was fined £20.7m yesterday after the City watchdog found some of its staff had faked payment protection insurance (PPI) documentation when processing some compensation claims. The bank provided false information to the Financial Ombudsman Service (FOS) when the officials requested information. In some cases, staff removed PPI from lists of products sold to customers, and [...]
Investors wary of Alliance Trust as vote looms April 14, 2015 ALLIANCE Trust bosses trumpeted the investment firm’s strong performance in the first quarter of the year yesterday, arguing it is beating the majority of its rivals across the world. However, the firm’s shares slid 0.19 per cent. It comes at a crucial time for the business, which is locked in battle with activist investor Elliott [...]
Asos poaches new finance chief from debt manager Capquest April 14, 2015 FASHION giant Asos said yesterday it has ended a six-month search for a new chief financial officer after poaching Helen Ashton from debt management business Capquest. Ashton will join the online retailer in September, replacing Nick Beighton who has already moved into his new position as chief operating officer. Ashton [pictured left] was finance director [...]
Accor executive checks himself in to Easyhotel April 14, 2015 EASYHOTEL has booked itself a new chief financial officer after hiring Marc Vieilledent from Europe’s largest hotel group, Accor. Vieilledent, who was executive vice president of asset management at the French hotelier until 2013, will join easyHotel on 5 May. He replaces Darren Mee, who left on 29 January just six months after the budget [...]
British Land grabs a £210m site April 14, 2015 BRITISH Land has added to its huge swathe of property in Paddington after buying Visa Europe’s headquarters for £210m. The UK’s second biggest listed landlord said yesterday it has acquired One Sheldon Square at Paddington Central from Malaysia’s Employees Provident Fund. Paddington Central is a vast 11 acre campus comprising offices, restaurants and shops close [...]
Millionaires in United Arab Emirates soar April 14, 2015 THE NUMBER of millionaires living in the United Arab Emirates has soared by 60 per cent since 2007 despite the recent drop in oil prices taking its toll on the business interests of wealthy individuals. A report published yesterday by New World Wealth said there were 72,100 individuals with net assets of $1m or more [...]
