Deutsche Bank compensates Spanish winemaker over forex mis-selling June 28, 2021 Deutsche Bank has dished out over €10m to Europe’s largest wine exporter to settle a dispute over the alleged mis-selling of foreign exchange derivatives, according to reports. As the lender’s internal investigation nears its close, the decision to settle could pile pressure on Goldman Sachs and BNP Paribas, which face similar accusations from Japanese engineering [...]
Ibiza and Mallorca holidays under threat as Spain joins Portugal in demanding Brits prove vaccination status June 28, 2021 Holidaymakers saw their plans thrown into disarray today as Spain announced that British travellers to the Balearic islands would have to show either proof of vaccination or a negative PCR test. The move comes just days after Mallorca and Ibiza were placed on the government’s travel “green list”, prompting a rapid surge in bookings. But [...]
New boss at Liberty Steel UK as GFG restructuring continues June 28, 2021 Sanjeev Gupta’s GFG Alliance has today replaced Liberty Steel UK’s boss as it continues to overhaul its embattled operations. In a restructuring update, the company said that Roy Chowdhury would take over from Jon Ferriman as chief executive. It also said it was exploring the possible sale of Liberty Steel’s UK engineering business. The moves [...]
Leon to roll out drive-thru restaurants June 28, 2021 Leon has today unveiled plans for its first drive-thru restaurant, in what should be the first step of a new expansion plan. The healthy fast food chain’s first drive-thru restaurant will in open in West Yorkshire later this year. The new restaurant will be 2,000 square feet and create 30 new jobs for the area. [...]
Greggs maintains positive sales trajectory despite shrinking pent-up demand June 28, 2021 Bakery chain Greggs has maintained a positive sales trajectory as restrictions ease, it said in its trading update today, with sales only slightly knocked by shrinking pent-up demand. The high street retailer last reported its trading performance on 10 May, at which point it had seen a strong recovery in sales levels following the easing [...]
NatWest’s Ulster Bank to sell €4.2bn worth of commercial lending to AIB June 28, 2021 The NatWest group and Ulster Bank in the Republic of Ireland (UBIDAC) have agreed with Allied Irish Banks (AIB) to sell the majority of its commercial lending for around €4.2bn. Around 280 workers will transfer from UBIDAC to AIB, one of Ireland’s largest banks, as part of the agreement, with the final number of roles [...]
JD Sports to buy majority stake in Spain’s Deporvillage for €140.4m June 28, 2021 Sports retail chain JD is set to buy 80 per cent of issued shares in Spain’s Deporvillage, the retailer confirmed today, through its holding company Iberian Sports Retail Group (ISRG). The deal will be worth around €140.4m, of which €40.4m has been deferred and will be paid if the business performs well in the months [...]
Why do our image-obsessed politicians dress so badly? June 28, 2021 I have spent much of my adult life obsessively following politics and clothes. It is, I suppose, inevitable that I sometimes allow my mind to play with the intersection between the two. The old cliché says that politics is showbusiness for ugly people; it often seems that it is for the badly dressed, too. Why [...]
British surgical robot firm CMR valued at $3bn after Softbank-led funding June 28, 2021 British surgical robotics group CMR Surgical has raised $600m (£431m) in a Softbank-led funding round as it looks to expand its technology to hospitals worldwide. The Cambridge-based company said the cash injection was the largest ever medtech private financing round and gave it a valuation of $3bn. The funding was led by Softbank’s Vision Fund [...]
UBS becomes latest bank to offer staff hybrid working forever June 28, 2021 UBS Group will allow most staff to mix remote working with time spent in the office, Switzerland’s biggest bank revealed today. “We are committed to offering our employees the flexibility for hybrid working where role, tasks and location allow,” UBS said. “Hybrid work options will be introduced on a country-by-country basis, with timing dependent on the local pandemic [...]
