US issues seizure warrant for two planes ‘owned and controlled by Roman Abramovich’ worth £320m June 7, 2022 The United States has issued a warrant for the seizure of two jets owned by Roman Abramovich worth £320m ($400m). The ex-Chelsea owner’s $350m Boeing and $60m Gulfstream are now “subject to seizure and forfeiture” owing to violations of export controls set up by Joe Biden, to put pressure on Russia. Both planes were flown [...]
JD Sports prepares for £2m bill after watchdog finds it broke law by fixing Rangers FC merch prices June 7, 2022 JD Sports may face a hefty penalty after the competition watchdog found it broke rules by fixing retail prices of some Rangers Football Club branded clothes. The Competition and Markets Authority (CMA) said it had provisionally found that Elite Sports and JD Sports fixed the retail prices of a number of Rangers-branded replica kits and [...]
Rutherford Health collapses in another blow for Woodford’s failed investment empire June 7, 2022 Rutherford Health collapsed in administration yesterday, in yet another blow for Neil Woodford’s failed investment empire. The private oncology provider had thrown more than £240m at developing four therapy centres between 2015 and 2019, in what managers have now called a “flawed expansion strategy” which contributed to “unsustainable cash burn” and ultimately its financial downfall. [...]
LV= appoints new chair as insurance mutual’s CEO faces calls to quit June 7, 2022 LV= has appointed Simon Moore as its new chair, as the insurance specialist’s chief executive faces renewed calls to step down. Moore, who presently holds the position of chair at consumer lending firm PCF and digital bank RCI Bank UK, will succeed interim chair Seamus Creedon. Moore said he was “determined” that the legacy firm [...]
National Express: Profit recovery held back by desire for low UK fares as demand recovers June 7, 2022 Coach operator National Express said its endeavour to keep price affordable for UK users will limit the pace of its margin recovery. The company made the headlines when its offer to buy rival Stagecoach was snubbed in favour of German asset manager DWS Infrastructure. National Express reiterated an expectation for an average profit margin of [...]
Ted Baker’s chosen bidder drops takeover plans as hunt for buyer continues June 7, 2022 Ted Baker’s chosen suitor has decided to drop its sales bid for the fashion retailer at the eleventh hour. The London-listed company confirmed that it had selected a chosen firm to oversee a public to private takeover at the end of last month. There has been speculation that this firm was Reebok and Forever 21 [...]
Annette King named new Advertising Association chair June 7, 2022 The Advertising Association has announced the appointment of Publicis Groupe UK chief Annette King as its new Chair, joining the AA Board and working closely with CEO, Stephen Woodford and President, Alessandra Bellini.
To turf Boris Johnson out, Keir Starmer needs to rebrand his Labour Party June 7, 2022 It must have hurt, not just being booed by those liberal lefty lawyers who turned up to celebrate the Queen’s Platinum Jubilee, but being compared to Jeremy Corbyn – the very same man that Boris Johnson squashed into political oblivion in 2019. This is not the historical alignment with Winston Churchill he has worked all [...]
No more Netflix and chill: Consumers cancel subscriptions and miss out on meals out amid historic inflation June 7, 2022 Consumers are tightening their purse strings by cancelling digital subscriptions and holding off on buying new sofas, as inflation sits at a 40-year high. Shoppers’ hesitancy to splash the cash on unnecessary treats or big ticket purchases has contributed to a retail sales growth slowdown, according to a tranche of spending statistics published today. May [...]
To kickstart decarbonisation we should be pouring investment into retrofitting homes June 7, 2022 In the race to net zero, shiny new electric vehicles get much more attention than insulation and thermal analytics. But the “hottest” solution might not be the key one. The International Energy Agency estimates that buildings are responsible for almost 40 percent of global emissions – and that 70 percent of this is produced by [...]
