Interim Debenhams chair shortlisted for Moss Bros role February 1, 2019 The interim chair of Debenhams could be in line for the role of chair at suit retailer Moss Bros. According to Sky News, Terry Duddy has been shortlisted as a potential successor to current Moss Bros chair Debbie Hewitt, who will step down from her role later this year. Duddy took on the chairman role [...]
ScS Group ends talks to buy Sofa.com leaving Mike Ashley in the driving seat February 1, 2019 Home furnishings retailer ScS Group said today it had ended talks with furniture retailer Sofa.com, leaving the way clear for Mike Ashley who is reportedly putting together a multi-million pound bid. ScS said today it is “no longer in discussions regarding a potential acquisition of the business and assets of Sofa.com”. Sky News reported that Ashley, [...]
Troubled Danske Bank’s profit slips in wake of money laundering scandal February 1, 2019 Danske Bank's profit slipped and it missed its expected dividend target for 2018 as it continues to grapple with a money laundering scandal that has rocked the company. Net profit for 2018 fell to 15bn (£1.76bn) Danish krone from 20.9bn Danish krone last year, its annual report revealed today. The bank proposed a dividend of 8.5 Danish [...]
Drinks giant Diageo boosts sales and profits January 31, 2019 Drinks conglomerate Diageo boosted both profit and sales in the first-half of its financial year and announced a £660m share buyback. The maker of drink brands such as Smirnoff vodka and Johnnie Walker whisky, said net sales increased 5.8 per cent to £6.9bn with organic growth partially offset by unfavourable exchange. Reported operating profit was [...]
Law firm DWF announces intention to float in UK’s largest legal listing January 31, 2019 Law firm DWF yesterday announced its intention to float on the main market of the London Stock Exchange in what would make it by far the largest law firm to go public worldwide. The firm would become just the sixth publicly traded UK law firm, the first to list on the main market and the [...]
Let’s go: AO World’s chief executive departs with founder returning to the role January 31, 2019 Electrical retailer AO World said today that its chief executive Steve Caunce is stepping down as chief executive and from the board with immediate effect. He is being replaced by the company’s founder John Roberts who was chief executive until February 2017 when he was replaced by Caunce. The company said that Caunce had “decided to [...]
London listings in slowest start since 2010 as Brexit worries dampen market January 30, 2019 London’s IPO market has got off to its slowest start since the financial crisis this year as the looming Brexit date dents investor confidence. London Stock Exchange (LSE) data, shows that in the year to 29 January just £680,000 has been raised in London initial public offerings (IPOs). By 29 January 2018 £40m had been [...]
Institute of Directors’ chief leaves in wake of racism scandal surrounding ex-chair January 30, 2019 The director general of business lobby group the Institute of Directors has today said he will step down early, months on from a racism and bullying scandal that saw the resignation of the organisation’s chair. Stephen Martin, who had led the IoD since February 2017, is stepping down with a year to run in his [...]
Ghosn says charges against him are ‘plot’ to stop integration between Renault and Nissan January 30, 2019 Former Nissan chair Carlos Ghosn said today that charges against him in Japan were the result of "plot and treason" by Nissan executives opposed to deeper integration between Renault and its alliance partners Nissan and Mitsubishi Motors. Ghosn, who is being held in prison in Tokyo, said he had “no doubt” the charges against him [...]
London Stock Exchange to buy €278.5m stake in Euroclear January 30, 2019 The London Stock Exchange (LSE) has expanded its reach in Europe with an agreement today to acquire a nearly five per cent stake in clearing house Euroclear. The LSE said today it will buy an aggregate 4.92 per cent stake in Euroclear’s share capital for €278.5m (£241.9 million). Brussels-based Euroclear provides settlement, custody and collateral management [...]