City law firm Fieldfisher acquires Mayfair boutique in bet on London’s hedge fund sector January 17, 2019 City law firm Fieldfisher has acquired a specialist Mayfair boutique in a bet London’s hedge fund sector will thrive post-Brexit. The City firm has acquired West End boutique Cummings Law and hired two senior partners from rival firms to launch Cummings Fisher, which will specialise in funds, derivatives, financial services regulation and fund formation work. [...]
Marks & Spencer launches plastic packaging-free fruit and vegetable trial to try and cut plastic waste January 16, 2019 Marks & Spencer launched a trial today of plastic packaging-free fruit and vegetables at its Tolworth store as it moves to cut the amount of plastic it uses. The retailer said it had introduced trained greengrocers to advise customers on the over 90 lines of loose fruit and vegetables it was selling from two aisles. [...]
Sears chairman wins auction for troubled department store chain with $5.2bn bid January 16, 2019 The chairman of bankrupt US department store chain Sears has won an auction for the retailer with a bid of $5.2bn (£4bn). Read more: Bidders table competing offers for struggling HMV Eddie Lampert prevailed in the auction today after weeks of back-and-forth negotiations. Lampert’s bid, made through his hedge fund, ESL Investments, will keep up to [...]
Billionaire Reuben Brothers check out of hotel group Belmond in $300m deal January 16, 2019 The billionaire Reuben Brothers have sold their shares in New York-listed hotel company Belmond in a deal that could net them more than $300m (£236m). Belmond was acquired last month by Paris-based LVMH, which owns luxury brands such as Louis Vuitton and Christian Dior, in a $3.2bn deal, seeing off competition from private equity buyers. [...]
Magic touch: Greene King appoints Merlin exec as new boss January 15, 2019 Brewer Greene King said today that Nick Mackenzie would join as new chief executive in May from Madame Tussauds-owner Merlin Entertainments. Mackenzie will replace Rooney Anand in the top job and join Greene King’s board on 1 May. At Merlin he is a member of the executive committee and is responsible for the Midway portfolio [...]
Lululemon ups fourth quarter forecasts on strong online and China demand January 14, 2019 Clothing retailer Lululemon Athletica boosted its profit and revenue forecasts for the last quarter of its financial year today, driven by online growth and demand from China. The Canadian retailer, which is known for its upscale yoga and athletic wear, said its upgrade was based on a strong holiday season and success “around the globe”. [...]
Atom Bank poised to appoint Citi for potential sale to Spanish bank January 14, 2019 Digital lender Atom Bank is in talks with advisers over a potential instruction that could lead to its takeover by Spanish banking behemoth BBVA. According to Sky News, the Durham-based bank is in discussions with Citi about a role advising the board of the business on its future options. Last year Atom Bank raised nearly [...]
Exclusive: Deloitte hires senior Magic Circle partner to lead its push into the UK legal market January 14, 2019 Big Four accountancy firm Deloitte has hired a senior partner from the Magic Circle to lead its expansion into the UK legal market after announcing plans to target the sector last year. The audit firm has appointed veteran Allen & Overy banking partner Michael Castle as managing partner for Deloitte Legal to lead its UK [...]
Leading MP slams Lloyds Banking Group’s overdraft fee changes January 13, 2019 An influential MP has slammed Lloyds Banking Group for trying to “game the system” with its new overdraft fees. Labour MP Rachel Reeves, chair of the Business, Energy and Industrial Strategy select committee, said Lloyds’ upcoming overdraft changes would increase fees for the majority of customers and went against the spirit of recent recommendations from [...]
HMV future could be decided this week as bid deadline looms January 13, 2019 The future of music retailer HMV will be decided this week as the deadline for rescue bids draws close. HMV collapsed into administration for the second time in six years late last month. Its administrator KPMG has set a deadline of Tuesday for suitors to lodge bids for the chain, Sky News was the first [...]
