Arcadia denies it is preparing to dismantle brands plans September 1, 2019 Sir Philip Green’s retail empire Arcadia has denied it is preparing to sell off its brands, which include high street retailers Topshop and Dorothy Perkins. Arcadia has reportedly started to separate its centralised functions such as human resources and IT as it prepares to dismantle the group. Read more: US landlords withdraw legal challenge to [...]
Berkeley Group faces opposition to new bonus policy September 1, 2019 Berkeley Group is facing opposition to its payment policy after a shareholder advisory firm urged investors to vote against the housebuilder’s new bonus structure at a meeting this week. The payment policy has been opposed by Institutional Shareholder Services (ISS), which said proposals to axe its bonus were “unlikely to affect the remuneration received by [...]
Debenhams lines up Deloitte as retailer takes on legal challenge to restructuring plan September 1, 2019 Debenhams has lined up advisers from professional services giant Deloitte as it prepares to fight a legal challenge to its restructuring plan. Deloitte is on standby in case Debenhams loses the case and fails to secure an appeal, an event that could tip the embattled department store into administration. Read more: Debenhams appoints restructuring expect [...]
London mayor Sadiq Khan calls for more devolution August 30, 2019 London mayor Sadiq Khan has renewed calls for more devolution of power from Westminster to City Hall. The mayor’s office today will release a report calling on “wholesale reform” of council tax and business rates so revenues from each stay with local authorities to spend on public services, education and housing. Read more: Mayor power: [...]
UK consumer confidence staggers in face of no-deal Brexit August 30, 2019 Consumer confidence in personal financial situations slumped in August, driven by the increasing uncertainty caused by Brexit. A measure recording changes in personal finances during the last 12 months fell by two points this month to -1, a decline of five points compared to August last year. Read more: UK consumer confidence slumps in June [...]
US prosecutors probe fresh allegations of technology theft by Huawei August 29, 2019 US prosecutors are reportedly investigating new instances of alleged technology theft by Chinese telecoms giant Huawei. The firm has been accused of stealing intellectual property from individuals and companies over several years and recruiting employees from its rivals, the Wall Street Journal reported. Read more: Britain to make 5G decision on Huawei in autumn The [...]
British Steel division sold to French engineering firm August 29, 2019 British Steel subsidiary TSP Projects has been sold to French engineering firm Systra in a deal that will save hundreds of jobs. The deal, which will see Systra take on the firm’s £70m-plus pensions liabilities, is expected to be announced by Systra and the Official Receiver tomorrow, according to Sky News. Read more: British Steel [...]
Dixons Carphone faces investor backlash over CEO share award August 29, 2019 Electrical goods retailer Dixons Carphone is facing an investor backlash over a share award handed to its chief executive despite a fall in the company’s share price. An estimated 15 per cent of the company’s investors are expected to oppose the remuneration report following a recommendation from shareholder adviser Institutional Shareholder Services, Sky News reported. [...]
PZ Cussons offloads brands to focus on core products August 29, 2019 Consumer goods giant PZ Cussons will offload two brands as part of a strategic shift to focus on its core product range. PZ Cussons, the owner of brands such as Carex and Imperial Leather, has sold its Greek olive oil subsidiary Minerva to Mirties Enterprises Company, a firm controlled by Luxembourg investment company Diorama Investments, [...]
London commuter belt house prices sink as train fares rise August 29, 2019 London commuter belt house prices have fallen while train fares into the capital rose, new research shows. Commuters making the journey from hubs such as Brentwood, Woking, High Wycombe, Southampton and Gillingham have seen the values of their properties sink over the last year. Read more: Grant Shapps indicates support for TfL gaining control of [...]
