Debenhams chair lashes out at firm’s ‘nosy neighbours’ September 11, 2018 The chairman of troubled department store Debenhams today sought to justify the firm's decision to rush a trading update out yesterday as an attempt to stop "nosy neighbours" speculating about its future. Debenhams' shares plunged 17 per cent yesterday after reports over the weekend revealed it had brought in KPMG to advise on a number of restructuring [...]
Snap second in command Imran Khan to leave company after three years September 10, 2018 Snap today announced that its chief strategy officer of three years, Imran Khan, is set to leave the company. Khan informed Snap last week that he would be exiting to pursue other opportunities. The filing to the US Securities and Exchange Commission said his departure was not down to any disagreement with the company. His final [...]
Debenhams rushes out surprise update after its shares plunge to record low September 10, 2018 Debenhams looked to quell investor concern about the company's financial situation by rushing out a surprise trading update today which showed profits were slightly below expectations. The firm shocked the market by releasing its results a month early, saying it expected profits to be within the market range of £31m to £36m, falling just short of its expected [...]
CBS boss Les Moonves resigns as fresh sexual misconduct allegations surface September 10, 2018 The boss of American TV giant CBS Les Moonves has stepped down following allegations of sexual misconduct which were reported by US media. The company had been investigating its chief executive and chairman after The New Yorker magazine originally made the allegations in July, before it published new allegations from six more women yesterday. In a statement, [...]
EE customers report major network outage in London September 10, 2018 EE users have been left frustrated this morning at an apparent network outage across London and other parts of the UK. Customers have been tweeting about issues with using 4G on their phones as well as with making voice calls. @EE something odd going on with mobile data this morning. While on the train from [...]
Debenhams share price tumbles as firm mulls over rescue plan September 10, 2018 Shares in high street retailer Debenhams crashed 17 per cent this morning after it emerged the firm had brought in KPMG to advise on a number of options to save the struggling company. Debenhams has had a gruelling year, announcing three profit warnings so far alongside a raft of job cuts, causing its share price to tank [...]
Lloyds Bank private equity arm LDC invests £25m in energy price comparison firm Love Energy Savings September 10, 2018 Lloyds Bank's private equity arm LDC today announced it had invested £25m into energy comparison firm Love Energy Savings. The secondary buyout of the business is expected to accelerate its growth, and marks a partial exit for NVM Private Equity, which first backed the comparison site in September 2015. Bolton-based Love Energy specialises in comparing business energy [...]
One in five FTSE 350 firms still aren’t transparent about their pension deficit September 10, 2018 One in five of the UK's 350 biggest firms are still are not disclosing the funding position or surplus of their defined benefit (DB) pension scheme. Though that represents a major drop from 2016, when the figure was over two-thirds (67 per cent), the figures from Lincoln Pensions highlight the continuing issue with transparency around [...]
About time: Richemont appoints new chief exec after leaving position empty for two years September 10, 2018 Swiss luxury goods firm Richemont has appointed a chief executive after leaving the position unfilled for almost two years. The owner of brands like Cartier and Montblanc said its chief operating officer Jérôme Lambert would step in as boss. It marks a u-turn by chairman and controlling shareholder Johann Rupert, who got rid of the chief executive role [...]
Uber and Rolls-Royce face competition from startup planning to bring air taxis to UK by 2022 September 10, 2018 A UK startup has launched a challenge against titans Uber and Rolls-Royce as it unveiled plans for a flying taxi which could take to the skies as early as 2022. The company, called Vertical Aerospace, announced it had built and flown its fully electric vertical take-off and landing (eVTOL) aircraft in June, which could be used as an alternative [...]
